MIRA
INFORM REPORT
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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MANDHANA INDUSTRIES LIMITED |
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Registered
Office : |
Plot No. C-3, MIDC, Tarapur Industrial Area, Boisar-401506, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.07.1984 |
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Com. Reg. No.: |
11-033553 |
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Capital Investment
/ Paid-up Capital : |
Rs.331.239
Millions |
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CIN No.: [Company Identification
No.] |
L17120MH1984PLC033553 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20579G |
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PAN No.: [Permanent Account No.] |
AABCM6615M |
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Legal Form : |
Public Limited
Liability Company. The Company’s Shares are listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturers of Garments and also engaged in processing and trading of fabrics. |
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No. of Employees
: |
4000 (Approximately) (In Office
+ In Factory) |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 18000000 |
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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 and reputed company having fine track
record. 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 good for normal 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.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Non Convertible Debenture = A |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
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Date |
17.01.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Mitesh |
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Designation : |
Finance Head |
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Contact No.: |
91-22-43539259 |
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Date : |
05.06.2013 |
LOCATIONS
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Registered Office : |
Plot No. C-3, MIDC, Tarapur Industrial Area, Boisar-401506, |
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Tel. No.: |
91-2525-272228/29 |
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Fax No.: |
91-2525-260251 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Head Office : |
Unit No. 205/214, |
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Tel. No.: |
91-22-30409191/200 |
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Fax No.: |
91-22-30409216 |
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E-Mail : |
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Corporate Office : |
205/214, |
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Tel. No.: |
91-22-2494 9398 / 2495 2124 / 2494 6350 / 2493 7236 / 30409191 |
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Fax No.: |
91-22-2493 7236 / 2496 3494 / 30409216/ 30409218 |
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E-Mail : |
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Factory1: |
Mandhana Weaving
House: A Division of Mandhana Industries Private Limited, E – 33, MIDC,
Tarapur Industrial Area, District Thane – 401 506, Maharashtra, India |
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Tel. No.: |
91-2525-274988/274989 |
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Fax No.: |
91-2525-274990 |
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E-Mail : |
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Factory2 : |
Mandhana Dyeing: (Process House) A Division of Mandhana Industries Private Limited, E – 25, MIDC,
Tarapur Industrial Area, District Thane-401 506, Maharashtra, India |
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Tel. No.: |
91-2525-272381 / 272426 / 272428 |
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Fax No.: |
91-2525-272427 |
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E-Mail : |
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Factory 3 : |
Mandhana Weaving
House: (Shirting Division) Plot No.C-2, MIDC, Tarapur, Industrial Area, District Thane- 401 506,
Maharashtra, India |
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E-Mail : |
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Factory 4: |
Mandhana
Industries Private Limited: (Garment
Division) 26/A, Peenya II Phase, Peenya Industrial Area, Near NTTF Bus Stop,
Bangalore – 560058, Karnataka, India |
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Tel. No.: |
91-80-28395333 |
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E-Mail : |
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Factory 5: |
Garment Division Plot No.31, Survey No.161, Laggare Village, Yeshwanthpura, Hobli, Bangalore North Taluka, Bangalore – 560 058, Karnataka, India |
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Factory 6: |
Garment Division Unit No. 36/2, Maruti Plaza, Madanayakanahalli Village, Dasanapura, Hobli,
Tumkur Road, Bangalore-562123, Karnataka, India |
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Factory 7: |
Garment Division B Wing, Ganpati Baug, |
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Factory 8: |
Garment Division No.21-D, 2nd Phase, Peenya Industrial Area, Bangalore – 560 058, Karnataka, India |
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Factory 9: |
Mandhana Dyeing
– Unit II Plot No. C-3, MIDC, Tarapur Industrial Area, District Thane – 401 506, Maharashtra, India |
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Branch Offices : |
Located At:
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Mandhana Europe: |
15 Rue de la Banque, Escalier B Entresol – 75002 |
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Tel. No.: |
0033142960224 |
DIRECTORS
As on 31.03.2012
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Name : |
Mr. Khurshed M. Thanawalla |
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Designation : |
Non-Executive and Executive Director |
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Address : |
Khatau Bunglow, GR. Fl. 6, Manav Mandir Road, Mumbai – 400006, Maharashtra, India. |
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Date of Birth/Age : |
24.12.1942 |
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Date of Appointment : |
04.12.2007 |
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Name : |
Mr. Ghyanendra Nath Bajpai |
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Designation : |
Non-Executive and Executive Director |
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Address : |
131, Shaan Apartments, K D Marg, Prabhadevi, Mumbai – 400028, Maharashtra, India |
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Date of Birth/Age : |
06.07.1942 |
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Date of Appointment : |
16.05.2007 |
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Name : |
Mr. Purshottam.C. Mandhana |
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Designation : |
Chairman and Managing Directors |
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Address : |
23, Mount Unique, 62-A, Peddar Road, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
06.07.1955 |
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Date of Appointment : |
01.10.1993 |
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Name : |
Mr. Biharilal C. Mandhana |
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Designation : |
Executive Director |
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Name : |
Mr. Manish B. Mandhana |
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Designation : |
Joint Managing Director |
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Name : |
Mr. Sanjay K. Asher |
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Designation : |
Non-Executive and Executive Director |
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Name : |
Mr. Ernst Robin Cornelius |
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Designation : |
Non-Executive and Executive Director |
KEY EXECUTIVES
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Name : |
Mr. Vinay Sampat |
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Designation : |
Company Secretary and Head Legal |
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BOARD COMMITTEES |
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Audit Committee |
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Name : |
Mr. Khurshed M. Thanawalla |
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Designation : |
Chairman |
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Name : |
Mr. Ghyanendra Nath Bajpai |
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Designation : |
Member |
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Name : |
Mr. Sanjay K. Asher |
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Designation : |
Member |
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Name : |
Mr. Purushottam C. Mandhana |
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Designation : |
Member |
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Remuneration
Committee |
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Name : |
Mr. Ghyanendra Nath Bajpai |
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Designation : |
Chairman |
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Name : |
Mr. Khurshed M. Thanawalla |
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Designation : |
Member |
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Name : |
Mr. Sanjay K. Asher |
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Designation : |
Member |
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Shareholders’/Investor
Grievances, Share Allotment and Transfer Committee |
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Name : |
Mr. Khurshed M. Thanawalla |
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Designation : |
Chairman |
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Name : |
Mr. Manish B. Mandhana |
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Designation : |
Member |
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Management
Committee |
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Name : |
Mr. Purushottam C. Mandhana |
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Designation : |
Chairman |
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Name : |
Mr. Biharilal C. Mandhana |
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Designation : |
Member |
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Name : |
Mr. Manish B. Mandhana |
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Designation : |
Member |
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IPO Committee |
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Name : |
Mr. Purushottam C. Mandhana |
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Designation : |
Chairman |
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Name : |
Mr. Biharilal C. Mandhana |
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Designation : |
Member |
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Name : |
Mr. Manish B. Mandhana |
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Designation : |
Member |
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MANAGEMENT TEAM |
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Name : |
Mr. A. P. Bhatnagar |
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Designation : |
President – Weaving and Shirting |
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Name : |
Mr. Rajendran Pillai |
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Designation : |
President – Retail |
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Name : |
Mr. Mitesh Shah |
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Designation : |
Vice President – Finance and Corporate Affairs |
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Name : |
Mr. Narinder Marve |
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Designation : |
Vice President – I. T. |
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Name : |
Mr. Uday Kulkarni |
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Designation : |
Vice President – Processing (Unit – I) |
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Name : |
Mr. Gopal Shah |
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Designation : |
Vice President – Marketing (Export Division) |
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Name : |
Mr. Pushpendra Tyagi |
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Designation : |
Vice President – Marketing (Fabric Division) |
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Name : |
Ms. Varsha Raghuram |
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Designation : |
Vice President – Merchandising and Business Development |
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Name : |
Mr. Nileshkumar Modi |
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Designation : |
Vice President – Weaving |
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Name : |
Mr. Jagjit Singh |
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Designation : |
Vice President – Yarn Dyeing |
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Name : |
Mr. Nayan Kambli |
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Designation : |
AVP – Finance and Corporate Affairs |
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Name : |
Mr. Ritesh Bhardwaj |
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Designation : |
AVP – Commercial |
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Name : |
Mr. Arvind Shikharkhane |
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Designation : |
Project Head (Technical) |
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Name : |
Mr. Rahul Anand |
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Designation : |
Head – Design |
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Name : |
Mr. Mitesh |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Category of
Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
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|
12357280 |
37.31 |
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1372243 |
4.14 |
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8202060 |
24.76 |
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8202060 |
24.76 |
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21931583 |
66.21 |
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Total shareholding of Promoter and Promoter Group (A) |
21931583 |
66.21 |
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(B) Public Shareholding |
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|
301 |
0.00 |
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|
653441 |
1.97 |
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1100000 |
3.32 |
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1490444 |
4.50 |
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|
3244186 |
9.79 |
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|
4826456 |
14.57 |
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|
451889 |
1.36 |
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|
1364782 |
4.12 |
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|
1305017 |
3.94 |
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|
2542 |
0.01 |
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1242475 |
3.75 |
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60000 |
0.18 |
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|
7948144 |
24.00 |
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Total Public shareholding (B) |
11192330 |
33.79 |
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Total (A)+(B) |
33123913 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
33123913 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
No. |
Name of the
Shareholder |
Details of Shares held |
Encumbered shares (*) |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|||
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No. of Shares held |
As a % of grand total (A)+(B)+(C) |
No |
As a percentage |
As a % of |
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1 |
Priyavrat P Mandhana |
32,86,000 |
9.92 |
928000 |
28.24 |
2.80 |
9.92 |
|
2 |
Purushottam C Mandhana HUF |
32,14,000 |
9.70 |
900000 |
28.00 |
2.72 |
9.70 |
|
3 |
Manish B Mandhana |
21,49,140 |
6.49 |
0 |
0.00 |
0.00 |
6.49 |
|
4 |
Purushottam C Mandhana |
20,26,140 |
6.12 |
0 |
0.00 |
0.00 |
6.12 |
|
5 |
Prema P Mandhana |
17,49,000 |
5.28 |
1263000 |
72.21 |
3.81 |
5.28 |
|
6 |
Sudha B Mandhana |
17,41,000 |
5.26 |
1110000 |
63.76 |
3.35 |
5.26 |
|
7 |
Biharilal C Mandhana |
16,82,000 |
5.08 |
0 |
0.00 |
0.00 |
5.08 |
|
8 |
Sangeeta M Mandhana |
11,12,060 |
3.36 |
1112000 |
99.99 |
3.36 |
3.36 |
|
9 |
Biharilal C Mandhana HUF |
10,98,000 |
3.31 |
900000 |
81.97 |
2.72 |
3.31 |
|
10 |
Arnav M Mandhana |
8,14,000 |
2.46 |
0 |
0.00 |
0.00 |
2.46 |
|
11 |
Manish B Mandhaha HUF |
7,84,000 |
2.37 |
0 |
0.00 |
0.00 |
2.37 |
|
12 |
Vinay B Mandhana |
4,79,000 |
1.45 |
0 |
0.00 |
0.00 |
1.45 |
|
13 |
Muskaan M Mandhana |
4,10,000 |
1.24 |
0 |
0.00 |
0.00 |
1.24 |
|
14 |
Mahan Synthetic Textiles Private Limited |
13,72,243 |
4.14 |
0 |
0.00 |
0.00 |
4.14 |
|
15 |
Chanda Shamsunder Jaju |
10,000 |
0.03 |
0 |
0.00 |
0.00 |
0.03 |
|
16 |
Tulsibai Vasantlal Chandak |
2,000 |
0.01 |
0 |
0.00 |
0.00 |
0.01 |
|
17 |
Bhagwati Madanlal Chandak |
2,000 |
0.01 |
0 |
0.00 |
0.00 |
0.01 |
|
18 |
Shakuntala R Dargad |
1,000 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
|
Total |
2,19,31,583 |
66.21 |
6213000 |
28.33 |
18.76 |
66.21 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
1 |
Fortune Equity Brokers (India) Limited |
1110070 |
3.35 |
3.35 |
|
2 |
Religare Finvest Limited |
522887 |
1.58 |
1.58 |
|
3 |
Religare Securities Limited |
859628 |
2.60 |
2.60 |
|
4 |
Axis Bank Limited |
645300 |
1.95 |
1.95 |
|
5 |
Orange Mauritius Investments Limited |
550000 |
1.66 |
1.66 |
|
6 |
Nomura Singapore Limited |
625000 |
1.89 |
1.89 |
|
7 |
Life Insurance Corporation of India Limited |
600000 |
1.81 |
1.81 |
|
8 |
General Insurance Corporation of India Limited |
500000 |
1.51 |
1.51 |
|
|
Total |
5412885 |
16.34 |
16.34 |
Details of Locked-in
Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as % of |
|
1 |
Biharilal C Mandhana |
12,49,500 |
3.77 |
|
2 |
Manish B Mandhana |
12,79,310 |
3.86 |
|
3 |
Priyavrat P Mandhana |
14,58,000 |
4.40 |
|
4 |
Purushottam C Mandhana |
13,47,000 |
4.07 |
|
5 |
Purushottam C Mandhana HUF |
12,96,000 |
3.91 |
|
|
Total |
66,29,810 |
20.02 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Garments and also engaged in processing and trading of fabrics. |
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Products : |
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Exports : |
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Products : |
Garments |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Others |
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No. of Employees : |
4000 (Approximately) (In Office
+ In Factory) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vishal H. Shah and Associates Chartered Accountant |
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Address : |
A-302, Kailas Esplande, Opposite Shreyas Cinema, L.B.S. Marg, Opposite
Shreyas Cinema, Ghatkopar (West), Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-32516269 |
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E-mail : |
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Internal Auditors : |
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Name : |
Hinesh R. Doshi and Company (for Corporate Office Mumbai and Tarapur) Chartered Accountants |
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Name : |
B. Choraria and Mates Chartered Accountants |
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Solicitors: |
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Name : |
Crawford Bayley and Company |
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Related Parties : |
· Mahan Synthetics Textiles Private Limited · Balaji Corporation · Indus Fila Limited · Golden Seam Textile Private Limited · Mandhana Retail Vanture Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39990000 |
Equity Shares |
Rs.10/- each |
Rs.399.900 Millions |
|
10000 |
Preference Shares |
Rs.10/- each |
Rs.0.100 Million |
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Total |
|
Rs.400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
33123913 |
Equity Shares |
Rs.10/- each |
Rs.331.239
Millions |
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|
|
|
|
The Company has only one class of equity shares having at par value of Rs. 10 per share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.
|
Name of
Shareholder |
As at 31 March 2013 |
|
|
No.
of Shares held |
%
of Holding |
|
|
Priyavrat P. Mandhana Jt. Purushottam C. Mandhana |
3286000 |
9.92 |
|
Purushottam C. Mandhana (HUF) |
3214000 |
9.70 |
|
Manish B. Mandhana Jt. Sangeeta M. Mandhana |
2149140 |
6.49 |
|
Purushottam C. Mandhana Jt. Prema P. Mandhana |
2026140 |
6.12 |
|
Prema P. Mandhana Jt. Purushottam C. Mandhana |
1749000 |
5.28 |
|
Sudha B. Mandhana Jt. Biharilal C. Mandhana |
1741000 |
5.26 |
|
Biharilal C. Mandhana Jt. Sudha B. Mandhana |
1682000 |
5.08 |
|
|
15847280 |
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
331.239 |
331.239 |
331.239 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4388.827 |
3843.395 |
3189.379 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4720.066 |
4174.634 |
3520.618 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7753.016 |
6205.585 |
4850.648 |
|
|
2] Unsecured Loans |
175.000 |
179.448 |
318.919 |
|
|
TOTAL BORROWING |
7928.016 |
6385.033 |
5169.567 |
|
|
DEFERRED TAX LIABILITIES |
728.680 |
664.802 |
577.429 |
|
|
|
|
|
|
|
|
TOTAL |
13376.762 |
11224.469 |
9267.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5469.627 |
5012.620 |
4619.707 |
|
|
Capital work-in-progress |
102.340 |
308.608 |
220.547 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.656 |
26.287 |
240.192 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4967.577
|
3820.395
|
2690.691
|
|
|
Sundry Debtors |
2739.676
|
1805.201
|
1565.189
|
|
|
Cash & Bank Balances |
224.468
|
29.235
|
60.425
|
|
|
Other Current Assets |
325.364
|
317.818
|
338.645
|
|
|
Loans & Advances |
1405.471
|
971.004
|
486.311
|
|
Total
Current Assets |
9662.556
|
6943.653
|
5141.261
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
892.960
|
268.754
|
358.960
|
|
|
Other Current Liabilities |
792.039
|
733.528
|
493.411
|
|
|
Provisions |
179.418
|
64.417
|
101.722
|
|
Total
Current Liabilities |
1864.417
|
1066.699
|
954.093
|
|
|
Net Current Assets |
7798.139
|
5876.954
|
4187.168
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13376.762 |
11224.469 |
9267.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13630.636 |
9801.481 |
8382.928 |
|
|
|
Other Income |
(45.462) |
8.651 |
51.619 |
|
|
|
TOTAL (A) |
13585.174 |
9810.132 |
8434.547 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7660.444 |
4913.812 |
5219.646 |
|
|
|
Cost of goods Traded |
3006.348 |
1496.977 |
1107.278 |
|
|
|
Changes in inventories of finished goods work-in-progress and Stock-in-Trade |
-1589.762 |
(242.638) |
(853.788) |
|
|
|
Manufacturing and Operating Costs |
1429.278 |
964.445 |
765.125 |
|
|
|
Employee Benefit Expenses |
665.121 |
477.118 |
405.121 |
|
|
|
Other Expenses |
483.821 |
344.884 |
265.715 |
|
|
|
TOTAL (B) |
11655.250 |
7954.598 |
6909.097 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1929.924 |
1855.534 |
1525.450 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
705.933 |
590.412 |
338.690 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1223.991 |
1265.122 |
1186.760 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
262.421 |
233.349 |
192.772 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
961.570 |
1031.773 |
993.988 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
308.188 |
300.762 |
326.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
653.382 |
731.011 |
667.541 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2423.681 |
1849.665 |
1319.374 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
80.000 |
60.000 |
|
|
|
Dividend Paid |
NA |
66.248 |
66.248 |
|
|
|
Corporate Dividend Tax Paid |
NA |
10.747 |
11.003 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
2423.681 |
1849.665 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2419.258 |
1582.485 |
1417.488 |
|
|
TOTAL EARNINGS |
2419.258 |
1582.485 |
1417.488 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
79.082 |
159.462 |
700.495 |
|
|
|
Auxiliary Material |
57.175 |
43.181 |
34.608 |
|
|
TOTAL IMPORTS |
136.257 |
202.643 |
735.103 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.73 |
22.07 |
20.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.81
|
7.45
|
7.91
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.05
|
10.53
|
11.86
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.35
|
8.63
|
10.18
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.25
|
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.67
|
1.53
|
1.47
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.18
|
6.51
|
5.39
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Sundry Creditors |
892.960
|
268.754
|
358.960
|
|
Total |
892.960
|
268.754
|
358.960
|
|
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 |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
DETAILS OF CHARGES
|
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION(S) / DATE OF ORDER |
FURTHER
DEVELOPMENTS |
|
Mandhana Industries Limited |
|
CBEC |
Defaulted In Payment Of Customs/Excise Duties |
Notice Issued Under Section 142 Of Customs Act, 1962 |
|
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short Term
Borrowing |
|
|
|
From Banks |
175.000 |
179.448 |
|
Total |
175.000 |
179.448 |
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT
OF (AS ON 31.03.2013):
a) Export invoices backed by letter of credit purchased by the bank amounting to Rs.7.660 Millions (Previous year Rs. 58.439 Millions)
b) Sales invoices Discounted with the bank amounting to Rs.25.618 Millions. (Previous Year Rs. 7.279 Millions)
c) Claim against the Company not acknowledged as debts in respect of Income Tax demand amounting to Rs.43.504 Millions (Previous Year Rs. 43.504 Millions) (Interest thereon not ascertainable at present.)
d) Claim against the Company not acknowledged as debts in respect of Central Excise dues amounting to Rs.29.058 Millions. (Previous Year Rs. 48.520 Millions) (Interest thereon not ascertainable at present.)
e) Bank guarantee given to Sales Tax, MSEB and Custom Department of Rs.50.218 Millions. (Previous Year Rs. 60.658 Millions)
FIXED ASSETS:
- Residential
Building
- Plant and
Machinery
- Factory
Equipment
- Air
Conditioner
- Furniture and
Fixtures
- Motor Car and
Bikes
- Office
Equipments
- Electrical
Installation
- Computer Accessories
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.56.42 |
|
|
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.