MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MICROMATIC GRINDING TECHNOLOGIES LIMITED (w.e.f.20.10.1997) |
|
|
|
|
Formerly Known
As : |
PARISHUDH SADHAN YANTRA LIMITED |
|
|
|
|
Registered
Office : |
301, Vikas Deep, Laxmi Nagar, District Center, New Delhi – 110092 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.03.1982 |
|
|
|
|
Com. Reg. No.: |
55-42422 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.9.290
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1982LC042422 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRTM01100B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM9654P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures a wide range of External, Internal, Universal and special
purpose cylindrical grinders in CNC, PLC and Hydraulic versions to the
exacting requirements. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered for normal for business dealing 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another megatrend
happening. The World order is changing as economic power shifts from West to
East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
(Term Loan) BB- |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
January, 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
(Proposed Limit) A4 |
|
Rating Explanation |
Having minimal degree of safety regarding
timely payment of financial obligation, it carry very high credit risk and
susceptible to default. |
|
Date |
January, 2011 |
LOCATIONS
|
Registered Office : |
301-302, Vikas Deep, Laxmi Nagar, |
|
Tel. No.: |
91-11-22026874/ 22414232 |
|
Fax No.: |
Not Available |
|
E-Mail : |
micromaticgrindingtechnologies@hotmail.com |
|
Website : |
|
|
|
|
|
Factory 1: |
MGT
Ghaziabad C-27/ C-28, Meerut Road, Industrial Area,
Ghaziabad - 201003, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2712137/ 69/ 79/ 2723216 |
|
Fax No.: |
91-121-2717823 |
|
|
|
|
Factory 2: |
C-40/1, |
|
|
|
|
Factory 3: |
MGT Bangalore 5/A, Servey No.74, 103, 106, 107, KIADB Industrial Area, Dobaspet,
Nelamangala Tuluk, Bangalore - 562111, Karnataka, India |
|
Tel. No.: |
91-80-27735383/ 85/ 86/ 87/ 27702449 |
|
Fax No.: |
91-80-27735384 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Narendra Kumar Dhand |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
R-5-58, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
09.09.1943 |
|
Qualification: |
B. Tech |
|
Date of Appointment : |
01.08.2008 |
|
PAN No.: |
ABFPD6577M |
|
Email : |
|
|
DIN No.: |
00379502 |
|
|
|
|
Name : |
Mr. Jagdish Pal Malik |
|
Designation : |
Whole-time director |
|
Address : |
203 Sun Breeze Apartment, Tower – 111, , Vaishali Sector – 4,
Ghaziabad – 201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
16.10.1942 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
01990286 |
|
|
|
|
Name : |
Mrs. Neelam Dhand |
|
Designation : |
Whole Time Director |
|
Address : |
R-5-58, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
17.08.1950 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
01.08.2008 |
|
PAN No.: |
ABFPD6578E |
|
Email : |
|
|
DIN No.: |
00358572 |
|
|
|
|
Name : |
Mr. Kapil Dhand |
|
Designation : |
Whole Time Director |
|
Address : |
R-5-58, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
03.02.1978 |
|
Qualification: |
B. Tech |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABFPD6579F |
|
Email : |
|
|
DIN No.: |
00390692 |
|
|
|
|
Name : |
Mr. Sidhartha Dhand |
|
Designation : |
Whole Time Director |
|
Address : |
R-5-58, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.11.1972 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABGPD0374B |
|
Email : |
|
|
DIN No.: |
00390761 |
|
|
|
|
Name : |
Mr. Pradeep Dinodia |
|
Designation : |
Director |
|
Address : |
A-9 A, Maharani Bagh, |
|
Date of Birth/Age : |
02.12.1953 |
|
Qualification: |
Chartered Accountant |
|
Date of Appointment : |
24.01.2005 |
|
Email : |
|
|
DIN No.: |
00027995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
App-Tech Machines Private Limited, India |
|
689200 |
|
Narendra Kumar Dhand |
|
56200 |
|
Neelam Dhand |
|
56200 |
|
Sidhartha Dhand |
|
56200 |
|
Kapil Dhand |
|
56200 |
|
Ramesh Kumar Mahajan |
|
5000 |
|
Shiv Kumar Dujari |
|
5000 |
|
Chandra Kanta Dujari |
|
5000 |
|
|
|
|
|
Total |
|
929000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
74.19 |
|
Directors or relatives of Directors |
24.20 |
|
Other |
1.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures a wide range of External, Internal, Universal and special purpose cylindrical grinders in CNC, PLC and Hydraulic versions to the exacting requirements. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
·
Hero Honda Motors Limited ·
BOSCH Limited ·
TVS Motors Company Limited ·
Honda Scooters and Motorcycles ·
Tata Motors Company Limited ·
Rane Engine Valves ·
Toyota Kirloskar Auto pats ·
YAMAHA ·
Godrej ·
Kirloskar Group ·
Widia ·
Mahindra and Mahindra ·
ShriRam Honda ·
TATA Cummins Limited ·
New ·
·
Cummins Turbo Technology ·
Timken India Limited ·
Guehring OHG ·
Bajaj Auto Limited ·
Sundaram Fasteners Limited ·
·
Lucas TVS Limited ·
Shri Ram Pistons and Rings Limited ·
Bharat Forge Limited ·
Indian Railways ·
Rane TRW ·
Sundaram Clayton |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
B K Kapur and Company Chartered Accountants |
|
Address : |
17, Navyug Market,
Ghaziabad – 201001, Uttar Pradesh, India |
|
PAN No.: |
AAFFB2355L |
|
|
|
|
Holding Company: |
App Tech Machines Private Limited, India CIN: U74899DL1990PTC039589 |
|
|
|
|
Subsidiary Company : |
Micromatic Manufacturing Systems Private Limited, India CIN: U13203DL2007PTC161269 |
|
|
|
|
Enterprises Significantly Influenced by Directors and /or their
relatives: |
Micromatic Machine Tools Private Limited, India CIN: U74899DL1987PTC029798 |
|
|
|
|
Joint Venture Company: |
Toyoda Micromatic Machinery India Limited, India CIN: U29200DL2008FLC182050 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2750000 |
Equity Shares |
Rs.10/- each |
Rs.27.500 Millions |
|
25000 |
14% Redeemable Non-cumulative Preference Share |
Rs.100/- each |
Rs.2.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
929000 |
Equity Shares |
Rs.10/- each |
Rs.9.290
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.290 |
9.290 |
|
(b) Reserves & Surplus |
|
268.793 |
214.182 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
278.083 |
223.472 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
109.989 |
139.775 |
|
(b) Deferred tax liabilities (Net) |
|
8.721 |
2.535 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
3.747 |
7.718 |
|
Total Non-current Liabilities (3) |
|
122.457 |
150.028 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
40.564 |
33.232 |
|
(b) Trade payables |
|
112.517 |
102.387 |
|
(c) Other current
liabilities |
|
200.865 |
210.462 |
|
(d) Short-term provisions |
|
24.308 |
8.810 |
|
Total Current Liabilities (4) |
|
378.254 |
354.891 |
|
|
|
|
|
|
TOTAL |
|
778.794 |
728.391 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
276.235 |
300.899 |
|
(ii) Intangible Assets |
|
14.141 |
11.755 |
|
(iii) Capital
work-in-progress |
|
0.000 |
6.126 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
18.097 |
11.697 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.017 |
4.900 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
316.490 |
335.377 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
257.615 |
265.657 |
|
(c) Trade receivables |
|
95.511 |
40.450 |
|
(d) Cash and cash
equivalents |
|
80.195 |
50.476 |
|
(e) Short-term loans and
advances |
|
28.983 |
36.431 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
462.304 |
393.014 |
|
|
|
|
|
|
TOTAL |
|
778.794 |
728.391 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.290 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
206.212 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
215.502 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
189.616 |
|
|
2] Unsecured Loans |
|
|
42.335 |
|
|
TOTAL BORROWING |
|
|
231.951 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
447.453 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
332.690 |
|
|
Capital work-in-progress |
|
|
5.151 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
11.697 |
|
|
DEFERREX TAX ASSETS |
|
|
0.546 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
167.838 |
|
|
Sundry Debtors |
|
|
44.011 |
|
|
Cash & Bank Balances |
|
|
19.885 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
29.549 |
|
Total
Current Assets |
|
|
261.283 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
67.955 |
|
|
Other Current Liabilities |
|
|
95.959 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
163.914 |
|
|
Net Current Assets |
|
|
97.369 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
447.453 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1058.556 |
570.478 |
334.062 |
|
|
|
Other Income |
11.168 |
5.218 |
12.438 |
|
|
|
TOTAL (A) |
1069.724 |
575.696 |
346.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
542.700 |
292.065 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(5.065) |
(48.961) |
|
|
|
|
Employee benefit expense |
136.156 |
99.918 |
|
|
|
|
Other expenses |
237.985 |
155.425 |
|
|
|
|
Prior period items |
0.044 |
0.018 |
|
|
|
|
TOTAL (B) |
911.820 |
498.465 |
312.739 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
157.904 |
77.231 |
33.761 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.076 |
26.644 |
28.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
132.828 |
50.587 |
4.835 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.315 |
39.363 |
43.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
95.513 |
11.224 |
(38.966) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.105 |
3.254 |
(13.279) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
65.408 |
7.970 |
(25.687) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
94.135 |
86.165 |
111.852 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend on Equity Shares |
10.797 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
147.746 |
94.135 |
86.165 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
50.553 |
40.740 |
5.042 |
|
|
|
Labour Charges |
0.222 |
0.000 |
NA |
|
|
|
Commission Earned |
NA |
0.000 |
0.861 |
|
|
|
Excess realization due to fluctuation in Exchange Rate (net) |
1.268 |
0.785 |
0.141 |
|
|
TOTAL EARNINGS |
NA |
41.525 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Store & Spares |
117.772 |
39.054 |
27.732 |
|
|
TOTAL IMPORTS |
117.772 |
39.054 |
27.732 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
70.41 |
8.58 |
(27.65) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.11
|
1.38 |
25.687 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.02
|
1.97 |
11.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.56
|
1.58 |
14.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.05 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54
|
0.77 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.11 |
1.59 |
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 |
No |
|
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 |
Yes |
|
19] |
Payments terms |
No |
|
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 |
|
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 |
FUTURE OUTLOOK
MGT has recently revisited its Vision 2023, when the company will be 50
years old. Dr. K. Subramanian, an International expert from USA has helped
restructure MGT into 3 SBUs. We are in the process of streamlining their operation
in this new structure which in due course would help all stakeholders of the
company to not only work more effectively and efficiently, but also help
achieve 20-25% CAGR till 2023, their Mission.
Barring unforeseen circumstances, the outlook for 2012-13 is of little
concern in view of uncertain economic recovery. The fundamental drivers of
India’s medium term growth prospects remain intact. However, global
developments, in conjunction with Indian policy responses to the concerns noted
above, are likely to make 2012-13 a challenging year.
It is a matter of great pride that their success over the years, have
come without ever comprising on integrity, their environmental and social
obligations and regulatory compliance.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
28.910 |
23.910 |
|
Other loans and advances |
5.900 |
9.730 |
|
Total |
34.810 |
33.640 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90064458 |
16/07/2003 * |
5,000,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
|
2 |
90064422 |
16/07/2003 * |
290,000.00 |
CANARA BANK |
MALIWARA CHOWK, GHAZIBAD, UTTAR PRADESH,
INDIA |
- |
|
3 |
90064354 |
16/09/2002 * |
10,000,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
|
4 |
90064258 |
16/07/2003 * |
200,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
|
5 |
90064249 |
30/07/2001 |
2,000,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
|
6 |
90064119 |
17/02/2000 |
125,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
|
7 |
90064102 |
16/12/1999 |
42,000,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
|
8 |
90064068 |
25/05/1999 |
39,000,000.00 |
CANARA BANK |
MALIWARA CHOWK, GHAZIBAD, UTTAR PRADESH,
INDIA |
- |
|
9 |
90063962 |
28/10/1997 |
25,000,000.00 |
CANARA BANK |
MALIWARA CHOWK, GHAZIBAD, UTTAR PRADESH,
INDIA |
- |
|
10 |
90063946 |
17/02/2000 * |
800,000.00 |
CANARA BANK |
MALIWARA CHOWK, CHAZIABAD, UTTAR PRADESH,
INDIA |
- |
NOTE: * Date of
charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
a)
Foreign Letter of Credit issued by the banker |
1421800 |
11182500 |
|
b)
Income Tax |
5093400 |
5093400 |
|
c)
Sales Tax |
1070300 |
1834500 |
|
d)
Service Tax |
17193800 |
18043700 |
|
e)
Bank Guarantee |
51981200 |
44859000 |
|
f)
Guarantee to financial institution against Credit facilities extended
to Subsidiary Company |
14540000 |
19160000 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
Intangible assets
·
Computer software
·
7Know-how
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 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 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.64.69 |
|
|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.