MIRA
INFORM REPORT
|
Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
M-TECH INNOVATIONS LIMITED |
|
|
|
|
Formerly Known
As : |
MAHAVIR DECORATIVE PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. P-1/2, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.02.1992 |
|
|
|
|
Com. Reg. No.: |
25-65521 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 70.005 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45402PN1992PLC065521 |
|
|
|
|
IEC No.: |
3192006200 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEM01213C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM8512F |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of
Smart Cards. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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|
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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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Nande |
|
Designation : |
Account Officer |
|
Contact No.: |
91-9922968830 |
|
Date : |
27.02.2012 |
LOCATIONS
|
Registered/ Corporate Office/ Factory 1 : |
Plot No. P-1/2, |
|
Tel. No.: |
91-20-22932032/
22932080/ 22932020/ 22932025/ 22934880 |
|
Fax No.: |
91-20-22933139/
22933134 |
|
E-Mail : |
info@m-techindia.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
33 KM
Stone, Pune - Satara Highway, Before
Nasrapur Turn, Gat No. 79, Village - Kelawade, Tal. – Bhore, |
|
Tel. No.: |
91-2113-272273 |
|
Fax No.: |
91-2113-272856 |
|
Location : |
Owned |
|
|
|
|
Factory 3: |
Hinjewadi Office Plot No. P-1/2, |
|
Tel. No.: |
91-20-22933139 |
|
|
|
|
Factory 4: |
Belapur Office ‘303’ Mayuresh Chamber CBDl, Belapur, “New Mumbai”, Maharashtra, India
|
|
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, India ·
Chennai D2, Sumanth Apartments No-2, Bheemanna
1st, Alwarpet, Chennai, Tamilnadu, India 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 – 121001, Haryana, India Mobile No- 09811755023 East
Zone · Kolkata H-428,B.Township Patuli Kolkata- 700094, West Bengal, India Mobile No- +91-8981010004,9088230624 |
DIRECTORS
AS ON 27.09.2011
|
Name : |
Mr. Vijay
Milapchand Gandhi |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
686-1A, HEM Vijay
Chandrika Society, Bibwewadi, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1962 |
|
Qualification : |
Diploma in Mechanical Engineering |
|
Date of Appointment : |
20.02.1992 |
|
DIN No.: |
00873098 |
|
|
|
|
Name : |
Mr. Rajkumar
Milapchand Gandhi |
|
Designation : |
Whole-Time
Director |
|
Address : |
E 203, Shree Rajyog
Society, Bibwewadi, Pune – 411 037, |
|
Date of Birth/Age : |
22.02.1967 |
|
Qualification : |
Printing engineering |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00153472 |
|
|
|
|
Name : |
Mr. Milind
Shridhar Bhagwat |
|
Designation : |
Director |
|
Address : |
C-605, Rajyog
Society, Bibwewadi, Pune – 411 037, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1960 |
|
Qualification : |
Mechanical Engineering |
|
Date of Appointment : |
02.04.2001 |
|
DIN No.: |
00907808 |
|
|
|
|
Name : |
Mr. Murgappa
Baburao Halvekar |
|
Designation : |
Director |
|
Address : |
26, Vijayanti
Apartment, Kadam Plaza, Katraj, Pune – 411046, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1960 |
|
Qualification : |
Automobile Engineering |
|
Date of Appointment : |
20.02.1992 |
|
DIN No.: |
01059435 |
|
|
|
|
Name : |
Mr. Vishal
Prakash Katariya |
|
Designation : |
Independent
Director |
|
Address : |
317, Swojas
Society, Road No.3 Baner Road, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1976 |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00833499 |
|
|
|
|
Name : |
Mr. Niranjan
Sadanand Nadkarni |
|
Designation : |
Independent
Director |
|
Address : |
301, Swojas Swararaj,
Krishna path, Off Law College road, Plot No. 6A, Pune – 411 004, |
|
Date of Birth/Age : |
08.06.1965 |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00602253 |
|
|
|
|
Name : |
Mr. Ramesh
Harakchand Gugle |
|
Designation : |
Independent
Director |
|
Address : |
162, Jamkhed,
District – Ahmednagar – 413 201, |
|
E-Mail: |
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|
Date of Birth/Age : |
25.12.1955 |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00865305 |
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|
|
|
Name : |
Mr. Rajeev R |
|
Designation : |
Nominee Director |
|
Address : |
1696 East End, |
|
Date of Birth/Age : |
10.11.1965 |
|
Date of Appointment : |
06.09.2008 |
|
DIN No.: |
00195744 |
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|
|
|
Name : |
Mr. Karan Jasjit Singh |
|
Designation : |
Nominee Director |
|
Address : |
1696-2Bl, Swanalok, L. Jagmohandas Marg, |
|
Date of Birth/Age : |
23.07.1979 |
|
Date of Appointment : |
24.09.2007 |
|
DIN No.: |
00901342 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Babar |
|
Designation : |
Secretary |
|
Address : |
Flat No.16, Shubhlabh Society, Shivtirth Nagar, Kothrud, Pune,
Maharashtra, India |
|
Date of Birth/Age : |
12.03.1985 |
|
Date of Appointment : |
29.06.2011 |
|
PAN No.: |
ALNPB3991P |
|
|
|
|
Name : |
Mr. Nande |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Vijay Milapchand
Gandhi |
|
1185550 |
|
Sanjay
MilapchandGandhi |
|
88400 |
|
Murgappa Baburao
Halvegar |
|
98718 |
|
Anita Vijay
Gandhi |
|
369606 |
|
Rajkumar
Milapchand Gandhi |
|
537100 |
|
Padma Rajkumar
Gandhi |
|
38870 |
|
Zankarmal
Narayandas Firodiya |
|
10000 |
|
Manish Kantilal Gugle |
|
26000 |
|
Archana Rahul Gandhi |
|
11525 |
|
Rahul Gandhi |
|
10750 |
|
Sanjay Harakchand Gagale |
|
25000 |
|
Vishal Prakash Katariya |
|
47790 |
|
Canbank Venture Capital Fund Limited, India |
|
2368420 |
|
Associated Capsules Private Limited, India |
|
526315 |
AS ON 30.09.2011
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Venture Capital |
|
33.83 |
|
Bodies corporate |
|
8.65 |
|
Directors or relatives of directors |
|
36.48 |
|
Other top fifty shareholders |
|
18.33 |
|
Others |
|
2.71 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Smart Cards. |
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Products : |
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Terms : |
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Selling : |
Credit (30-90 days) |
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Purchasing : |
Credit (30-90 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
31.03.2011 |
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|
|
|
Licensed Capacity |
|
Not Applicable |
|
Installed Capacity |
|
Not Applicable |
|
Actual Productions (Units) |
|
57644198 |
|
|
|
|
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
|
Customers : |
Manufacturer |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
State
Bank of India, Tara Chambers,
Pune Mumbai Road, Wakdewadi, Pune – 411003, Maharashtra, India ·
Small
Industries Development Bank of India, SIDBI Tower, 15, Ashoka Marg, Lucknow – 226001, India · The Vishweshwar Sahakari Bank Limited 471/472, Gultekdi, Market Yard, Through Its Dhankawadi Branch, Pune – 411037, Maharashtra, India ·
Pune
People’s Co-operative Bank Limited ·
ICICI
Bank ·
State
Bank of India, Air Cargo Complex, Mumbai, Maharashtra, India · State Bank of India, IFB, Pune, Maharashtra,
India · Axis Bank Limited Wakdewadi Branch, Pune, Maharashtra, India ·
State
Bank of India, Dhankawadi, Pune, Maharashtra,
India ·
Bank
of Maharashtra, Bibwewadi, Pune, Maharashtra,
India ·
HDFC
Bank Limited, S S Road, Pune, Maharashtra,
India ·
ABN
Amro Bank, Camp Branch, Pune, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dayananda Shetty
and Company, Chartered
Accountants |
|
Address : |
15, Dalal
Chambers, Market Yard, Pune 411 037, |
|
Tel. No.: |
91-20-24269352 |
|
PAN No.: |
ADWPS9232R |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9416400 |
A Equity Shares |
Rs. 10/- each |
Rs. 94.164 Millions |
|
333600 |
B Class Equity Shares |
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 |
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 |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
70.005 |
70.005 |
70.005 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.886 |
|
|
3] Reserves & Surplus |
57.830 |
49.591 |
38.800 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
127.835 |
119.596 |
109.691 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
260.890 |
224.619 |
242.532 |
|
|
2] Unsecured Loans |
26.482 |
37.887 |
20.860 |
|
|
TOTAL BORROWING |
287.372 |
262.506 |
263.392 |
|
|
DEFERRED TAX LIABILITIES |
17.586 |
15.360 |
23.988 |
|
|
|
|
|
|
|
|
TOTAL |
432.793 |
397.462 |
397.071 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
322.876 |
327.302 |
336.173 |
|
|
Capital work-in-progress |
45.050 |
37.383 |
38.555 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.500 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
50.255
|
40.302
|
31.660
|
|
|
Sundry Debtors |
58.892
|
48.438
|
39.461
|
|
|
Cash & Bank Balances |
8.149
|
8.293
|
6.781
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
31.277
|
26.454
|
24.103
|
|
Total
Current Assets |
148.573
|
123.487 |
102.005 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
61.107
|
69.999
|
61.913
|
|
|
Other Current Liabilities |
9.832
|
7.461 |
10.097 |
|
|
Provisions |
15.302
|
15.232
|
8.762
|
|
Total
Current Liabilities |
86.241
|
92.692 |
80.772 |
|
|
Net Current Assets |
62.332
|
30.795
|
21.233
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.035 |
1.982 |
1.110 |
|
|
|
|
|
|
|
|
TOTAL |
432.793 |
397.462 |
397.071 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
397.255 |
274.727 |
247.815 |
|
|
|
Other Income |
4.048 |
8.042 |
9.024 |
|
|
|
TOTAL (A) |
401.303 |
282.769 |
256.839 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changed Inventories |
211.992 |
122.456 |
|
|
|
|
Manufacturing Service Costs |
26.599 |
20.306 |
209.403 |
|
|
|
Employees Related Expenses |
58.650 |
53.239 |
|
|
|
|
Administrative, selling and Other Expenses |
37.203 |
31.527 |
|
|
|
|
TOTAL (B) |
334.444 |
227.528 |
209.403 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
66.859 |
55.241 |
47.436 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.211 |
32.062 |
26.745 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.648 |
23.179 |
20.691 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.182 |
21.016 |
17.959 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.466 |
2.163 |
2.732 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.227 |
(8.628) |
13.841 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.239 |
10.791 |
(11.109) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.007) |
(10.798) |
0.311 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.232 |
(0.007) |
(10.798) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
28.456 |
26.484 |
42.469 |
|
|
TOTAL EARNINGS |
28.456 |
26.484 |
42.469 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
114.984 |
50.066 |
47.376 |
|
|
|
Capital Goods |
8.976 |
1.598 |
62.109 |
|
|
TOTAL IMPORTS |
123.960 |
51.664 |
109.485 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.78 |
1.49 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.80
|
3.82
|
(4.33)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.38
|
0.79
|
1.10
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.01
|
0.48
|
0.63
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.02
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.92
|
2.97
|
3.14
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.33
|
1.26
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
- Creditors Due Small Micro
Enterprises |
0.000 |
0.000 |
0.000 |
|
- Creditors Due Others |
61.107 |
69.999 |
61.913 |
|
|
|
|
|
|
Total |
61.107
|
69.999
|
61.913 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
----- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
No |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
No |
|
Details of sister concerns |
----- |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
----- |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
----- |
|
Last Accounts filed at ROC |
----- |
|
Major Shareholders, if available |
----- |
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
OPERATING RESULTS
During the last
Financial Year, the Company has registered an impressive growth and has also
succeeded in expanding its customer base. The Gross sales from 1st April, 2010 upto
31st March, 2011 were Rs. 454.981 Millions as compared to Rs.308.733 Millions
for the financial year 2009-10.
The export sales
from 1st April, 2010 upto 31st March, 2011 was Rs.25.625 Millions.
OPPORTUNITIES AND
OUTLOOK OF THE COMPANY
The Company expects
increasing business opportunities for the Company in VISA Cards manufacturing
and personalisation, Unique Identity Card Project “Adhar Card”, Financial
Inclusion Project, Rashtriya Swasthya Bima Yojna, Master cards, Driving License
Smart Card Projects of various states and automotive business. With the
expanded use of e-commerce, the smart card related activities are expected to
increase manifold.
NATURE OF OPERATIONS:
The principal
activities of the Company are designing, developing, marketing, manufacturing
of all types of Dials, In-mould Products, Credit and Debit Cards, RFID Cards,
Identity cards, Prepaid Cards, Smart Cards, Card Readers, Dental Products etc.
required by Consumer goods Industries, Telecommunication companies, Banks and
financial Institutions, Social Clubs and general Public.
CONTINGENT LIABILITIES NOT PROVIDED IN THE BOOKS:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs.
In Millions) |
|
|
|
|
|
|
Bank Guarantees Issued |
3.758 |
8.432 |
|
Transmission and wheeling Charges payable to Maharashtra State
Electricity Distribution Company Limited |
0.000 |
1.373 |
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 |
|
Charge
identification number of the modified |
10244477 |
|
Type of charge |
Immovable
property Movable property
(not being pledge) Floating charge Others: Plant and
Machinery |
|
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 3. Additional Security: Immoveable Properties |
|
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
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.48.94 |
|
|
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.94 |
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.