MIRA
INFORM REPORT
|
Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MUTUAL INDUSTRIES LIMITED |
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Formerly Known
As : |
MUTUAL MECAPLAST
LIMITED |
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Registered
Office : |
9, Ehara Industrial Complex, Village Waliv, Vasai (East), District
Thane-401202, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.09.1990 |
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Com. Reg. No.: |
11-58368 |
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Capital
Investment / Paid-up Capital : |
Rs.59.682
Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1990PLC058368 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19469C |
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PAN No.: [Permanent Account No.] |
AAACM3522G |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Mould, Plastic Automotive Parts, Automotive
Systems, etc. |
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No. of Employees
: |
50 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established 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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Leslie |
|
Designation : |
Accountant |
|
Contact No.: |
91-250-3217731 |
|
Date : |
13.06.2012 |
LOCATIONS
|
Registered Office/ Engineering and Toolroom : |
9, Ehara Industrial Complex, Village Waliv, Vasai (East), District Thane-401202,
Maharashtra, India |
|
Tel. No.: |
91-250-3217731 / 3267728 / 3267729 / 3297727 /
3217726 / 30 |
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Fax No.: |
91-250-2454047 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
601, Dev Plaza, 6th Floor, Opposite Andheri Fire Brigade,
S.V. Road, Andheri (West), Mumbai-400058, Maharashtra, India |
|
Tel. No.: |
91-22-66895300 |
|
Fax No.: |
91-250-2454047 |
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|
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Factory 1 : |
Gut No. 5464, Garegoan Road, Malthan Phata, Shikrapur, Shirpur, District
Pune-412210, Maharashtra, India |
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|
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Factory 2 : |
112/113, B.U. Bhandari Industrial Estate, Sanaswadi, Shirur, District
Pune-412210, Maharashtra, India |
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Tel. No.: |
91-2137-669600 |
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|
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Factory 3 : |
Plot No. 3 and 4, Opposite Dadra Check Post, Village Dadra,
Silvasa-396191, Dadra and Nagar Haveli, India |
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Tel. No.: |
91-250-6134100 |
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Factory 4 : |
Plot No. 18, Sector 11, Tata Vendors Park, IIE Pantnagar, (SIDCUL), Rudrapur-263153,
Uddham Singh Nagar, India |
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Branch Office : |
The Ppeerage, 86, M. Vasanji Road, Andheri (East), Mumbai-400093,
Maharashtra, India |
|
Tel. No.: |
91-22-26834763 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dharmendra Kantilal Gandhi |
|
Designation : |
Managing Director |
|
Address : |
Ekdanti, 1st Floor, 19–A, Vallabh Nagar, CHSL, North South
Road No. 4, JVPD Scheme, Vile Parle (West), Mumbai – 400 056, Maharashtra,
India |
|
Date of Birth/Age : |
18.05.1957 |
|
Date of Appointment : |
28.09.1990 |
|
DIN No.: |
01254714 |
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|
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Name : |
Mr. Jaysinh Vallabhdas Mariwala |
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Designation : |
Director |
|
Address : |
3, Sudhakunj, |
|
Date of Birth/Age : |
09.07.1933 |
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Date of Appointment : |
2x5.03.2002 |
|
DIN No.: |
00182835 |
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|
|
Name : |
Mr. Prakash Chandra Kapoor |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
05.04.1945 |
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Date of Appointment : |
29.03.2005 |
|
DIN No.: |
00786682 |
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|
Name : |
Mr. Balkrishna Patwardhan |
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Designation : |
Director |
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Address : |
3, Unmesh, N P Thakkar Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India |
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Date of Birth/Age : |
18.12.1941 |
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Date of Appointment : |
14.03.2011 |
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DIN No.: |
00147084 |
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Name : |
Mr. Drumil Jayantilal Gandhi |
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Designation : |
Director |
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Address : |
G – 2, Ground Floor, Ruby Apartment, A, Plot No. 51, |
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Date of Birth/Age : |
14.10.1970 |
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Date of Appointment : |
14.03.2011 |
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DIN No.: |
03560719 |
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Name : |
Mr. Harin Kiritkumar Gandhi |
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Designation : |
Director |
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Address : |
401, Dev Residency, JVPD Scheme, Vile Parle (West), Mumbai-400049,
Maharashtra, India |
|
Date of Birth/Age : |
19.11.1968 |
|
Date of Appointment : |
14.03.2011 |
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DIN No.: |
03477195 |
KEY EXECUTIVES
|
Name : |
Mr. Leslie |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dharmendra Kantilal Gandhi |
|
1151230 |
|
Mala Dharmendra Gandhi |
|
599230 |
|
Uchit Dharmendra Gandhi |
|
338410 |
|
Hemit Dharmendra Gandhi |
|
298410 |
|
Dhirajbal Kiritkumar Gandhi |
|
596820 |
|
Apurva Kiritkumar Gandhi |
|
596820 |
|
Harin Kiritkumar Gandhi |
|
596820 |
|
Kanchan Jayantilal Gandhi |
|
895230 |
|
Akash Drumil Gandhi |
|
895230 |
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|
|
|
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Total |
|
5968200 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Mould, Plastic Automotive Parts, Automotive
Systems, etc. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Others ·
Tata ·
Mahindra ·
Ashok Leyland ·
Piaggio ·
Ford ·
Behr ·
Denso ·
Fiat ·
Maruti Suzuki ·
Whirlpool ·
Anchor ·
IFB ·
LG ·
Montaplast ·
Visteon ·
Godrej ·
Reliance Industries Limited |
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No. of Employees : |
50 [Approximately] |
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Bankers : |
v
Axis
Bank Limited, Corporate Banking Branch, 214-215, City Mall, 2nd
Floor, Plot No. 1, S. No. 132, Ganesh Khind Road, Pune-411007, Maharashtra,
India v
Citi
Bank v
BNP
Paribas v
Kotak
Mahindra Bank v
Bank
of v
DBS
Bank v
Standard
Chartered Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kamdar Desai and
Patel Chartered
Accountants |
|
Address : |
Vasaikar House,
296, |
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Tel. No.: |
91-22-24475000 |
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Fax No.: |
91-22-24475001 |
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E-Mail : |
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Website: |
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Pan No.: |
AAAFK6984H |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5968200 |
Equity Shares |
Rs.10/- each |
Rs.59.682
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 |
59.682 |
59.682 |
59.682 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
840.520 |
805.694 |
758.994 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
900.202 |
865.376 |
818.676 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
899.497 |
1057.872 |
1167.245 |
|
|
2] Unsecured Loans |
6.949 |
8.545 |
8.742 |
|
|
TOTAL BORROWING |
906.446 |
1066.417 |
1175.987 |
|
|
DEFERRED TAX LIABILITIES |
112.207 |
114.936 |
111.209 |
|
|
|
|
|
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TOTAL |
1918.855 |
2046.729 |
2105.872 |
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APPLICATION OF FUNDS |
|
|
|
|
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|
|
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FIXED ASSETS [Net Block] |
1511.789 |
1427.715 |
1425.965 |
|
|
Capital work-in-progress |
32.786 |
21.160 |
71.810 |
|
|
|
|
|
|
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INVESTMENT |
67.988 |
63.458 |
220.663 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
393.919
|
436.950 |
276.565 |
|
|
Sundry Debtors |
537.440
|
314.411 |
240.584 |
|
|
Cash & Bank Balances |
2.921
|
48.274 |
15.048 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
208.182
|
443.086 |
418.790 |
|
Total
Current Assets |
1142.462
|
1242.721 |
950.987 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
518.605
|
220.544 |
218.134 |
|
|
Other Current Liabilities |
253.326
|
220.013 |
90.906 |
|
|
Provisions |
64.239
|
267.768 |
254.513 |
|
Total
Current Liabilities |
836.170
|
708.325 |
563.553 |
|
|
Net Current Assets |
306.292
|
534.396 |
387.434 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1918.855 |
2046.729 |
2105.872 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2302.320 |
1335.892 |
1183.123 |
|
|
|
Other Income |
33.194 |
269.136 |
158.807 |
|
|
|
TOTAL (A) |
2335.514 |
1605.028 |
1341.930 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
473.461 |
438.345 |
|
|
|
Stores and Spares Consumed |
|
293.505 |
214.114 |
|
|
|
Packing Material Consumed |
|
71.997 |
51.943 |
|
|
|
Mould Related Expenses |
|
178.133 |
99.094 |
|
|
|
Manufacturing Expenses |
2019.063 |
139.698 |
107.073 |
|
|
|
Salaries and Wages |
|
94.509 |
76.058 |
|
|
|
Electricity, Power and Fuel |
|
79.692 |
60.737 |
|
|
|
Selling and Administration Expenses |
|
59.579 |
96.158 |
|
|
|
Accretion/ Decretion to Stock |
|
(12.982) |
10.193 |
|
|
|
Accretion/ Decretion to Mould Stock |
|
(116.584) |
(98.272) |
|
|
|
TOTAL (B) |
2019.063 |
1261.008 |
1055.443 |
|
|
|
|
|
|
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|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
316.451 |
344.020 |
286.487 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
93.433 |
108.966 |
96.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
223.018 |
235.054 |
189.509 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
165.460 |
157.407 |
135.249 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
57.558 |
77.647 |
54.260 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.270 |
16.982 |
19.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
49.288 |
60.665 |
35.135 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
6.439 |
0.000 |
|
|
|
Final Dividend Paid |
11.936 |
11.936 |
0.000 |
|
|
|
Tax on Dividend |
1.982 |
2.029 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
29.827 |
40.261 |
35.135 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5.789 |
8.657 |
10.113 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
74.481 |
31.907 |
|
|
|
Capital Goods |
NA |
25.875 |
10.383 |
|
|
TOTAL IMPORTS |
NA |
100.356 |
42.29 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(6.30) |
38.80 |
5.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.11
|
3.78
|
2.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.50
|
5.81
|
4.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.17
|
2.91
|
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.09
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.94
|
2.05
|
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.69
|
1.69 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
SUNDRY CREDITORS |
|
|
|
|
Creditors due
small micro enterprises |
71.075 |
65.396 |
20.431 |
|
Creditors due
others |
447.530 |
155.148 |
172.338 |
|
For capital items
|
0.000 |
0.000 |
25.365 |
|
Total |
518.605 |
220.544 |
218.134 |
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
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 |
CAPITAL:
During the year the authorized capital of the company remained unchanged
at Rs.100.000 Millions consisting of 10000000 equity shares of Rs.10/- each. The
paid up share capital of the company has also remained unchanged at Rs.59.682
Millions consisting of 5968200 shares of Rs.10/- each.
OPERATING RESULTS
AND PROFITS:
During the year, the turnover of the company has grown by 29% as
compared to last year. The turnover of FY 2010-11 is at Rs.2234.219 Millions.
The company has achieved profit after tax of Rs.43.763 Millions as against
Rs.60.665 Millions in the previous year. The EBIDTA and PAT percentage were at
14.16% and 1.96% respectively.
FINANCE:
As the end of the financial year, the company has sanctioned fund based
working capital facilities of Rs.481.500 Millions. The non fund based limits
was Rs.30.000 Millions. The company enjoys multiple banking arrangements.
Present working capital bankers of the company are Bank of India, Standard
Chartered Bank, Axis Bank, Kotak Mahindra Bank, Citi Bank. Terms landing banks
are DBS Bank, Kotak Mahindra Bank, Citi Bank and Tata Capital Limited.
The company has also availed a sanction of Rs.100.000 Millions from Axis
Bank to meet the capital expenditure requirement at routine maintenance capex
at all location and also at Shikhrapur and Pantangar Paint Shop.
WIND POWER
PROJECT:
The company’s wind farm, consisting of 1 wind energy generators with a
total capacity of 1.65 MW has generated total revenues of Rs.9.600 Millions
during the year. the generation electricity has been uniform year on year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10339892 |
|
Corporate
identity number of the company |
U99999MH1990PLC058368 |
|
Name of the
company |
MUTUAL INDUSTRIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
9, Ehara Industrial Complex, Village Waliv, Vasai (East), District
Thane-401202, Maharashtra, India |
|
Type of charge |
Movable Property
[not being pledge] |
|
Particular of
charge holder |
v
Axis
Bank Limited, Corporate Banking Branch, 214-215, City Mall, 2nd
Floor, Plot No. 1, S. No. 132, Ganesh Khind Road, Pune-411007, Maharashtra,
India Email: ruchi.joshi@axisbank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Deed of
Hypothecation of Machinery and Other Movable Fixed Assets dated 10th April
2012 |
|
Date of
instrument Creating the charge |
10.04.2012 |
|
Amount secured by
the charge |
Rs.100.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement
with the Bank Terms of
Repayment As per Agreement
with the Bank Margin As per Agreement
with the Bank Extent and
Operation of the charge Facility: TL and
LC(Capital Goods)(Sub Limit of TL) aggregating to Rs.100.000 Millions Kotak Mahindra
Bank Limited. is acting for itself and agent of Tata Capital Limited., DBS
Bank, Citibank, BOI, Axis Bank and Yes Bank for Mortgage Documents.(Aggregate
amount of Credit Facilities secured by Mortgage of properties Rs.1256.000
Millions) First Pari passu
charge of the Bank on hypothecated assets in the Agreement and the charge on
hypothecated assets and mortgaged property shall continue till full repayment
of Loan. |
|
Short particulars
of the property charged |
Equitable
Mortgage by constructive delivery of title deeds of immovable properties of
Company: Property No. I:
Properties at Village Waliv, Taluka Vasai, District Thane (a)Unit
No.9,S.No.70, Hissa Nos.1 and 5,Plot Nos.3-B and 3-C
adm.557.423 Sq.Mtrs.in Ethara Industrial Complex. (b) Unit No.4 and 5
adm.185.804 Sq.Mtrs.in Ethara Industrial Complex sit. at Plot No.3-B and 3-C,S.No.70,Hissa
No.1 and 5.(c) Plot No.1,S.No.70,Hissa No.01 adm. area of 5815
Sq. Mtrs. together with all buildings, structures and plant and machinery, if
any affixed to the earth or permanently affixed to something attached to the
earth. Property No. I:
All that piece and parcel of Plot No.2 adm.21030 Sq. Mtrs. or thereabout
together with construction thereon, out of Plots made on land bearing
SNo.206/1 paiki sit. at Dadra together with all Buildings,
structures and plant and machinery, if any affixed to the earth or
permanently affixed to something attached to the earth. Property No.III :All
that piece and parcel of land bearing Plot No.90 along with
construction consisting of Ground and 1st Floor, Plot No.99,100,101,102,103
and 104,105,106,107,Plot No.112,113 all out of land bearing Gat
Nos.156,1544,168,169,170 and 171 sit. at B.U. Bhandari Industrial
Estate, Sanaswadi, Taluka Shirur, District Pune together with all Buildings,
structures, plant and machinery, if any, affixed to the earth or permanently
affixed to something attached to earth. Property No. IV : All that piece
and parcel of Land bearing Gat No.546,Hissa No.4 adm.2H56 Ares.sit.at
Shikrapur, Taluka Shirur, District Pune together with all Buildings,
structures and plant and machinery, if any, affixed to the The earth or
permanently affixed to something attached to earth. Property No. V: Land
adm.20216 Sq. Mtrs. known as Plot No.18,Sector No.11 in Tata Motors Vendor
Park, Pantnagar bearing Khasra No.423 Within Village
limits of Kalyanpur, Uttarakhand together with all buildings, structures,
plant and machinery. 1st pari passu
charge on all tangible movable machinery, plant machinery, fixtures |
|
Particulars of
the present modification |
1st pari passu charge
on all tangible movable machinery, plant machinery, fixtures, fittings, other
installation, cranes, furniture, computers and other accessories vehicles
together with spares tools and accessories and all other articles of the borrower
created by executing Deed of Hypothecation of Machinery and Other Movable
Fixed Assets to secure TL and LC(Capital Goods)(Sub Limit of TL) facility
availed by Company aggregating to Rs.100.000 Millions |
FIXED ASSETS:
·
Buildings
·
Computer Installation
·
Electrical Installation
·
Fire Hydrane System
·
Flat Premises
·
Furniture and Fixtures
·
Land
·
·
Material Handling Crates
·
Motor Car
·
Msi Moulds
·
Office Equipments
·
Plant and Machinery
·
Wind Mill
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.55.79 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.