MIRA
INFORM REPORT
|
Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
M-TECH INNOVATIONS LIMITED |
|
|
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Registered
Office : |
P-1/2, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.02.1992 |
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Com. Reg. No.: |
04-000035 |
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Capital
Investment / Paid-up Capital : |
Rs. 70.005 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45402PN1992PLC065521 |
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|
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IEC No.: |
3192006200 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM01213C |
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|
|
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PAN No.: [Permanent Account No.] |
AADCM8512F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Plastic Security Cards for Banking, Telecom, Automobile, and Electronic Sectors. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
7A study published by Firstpost has revealed that asset classes like
real estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term loans: “D” (Suspended) |
|
Rating Explanation |
Expected to be in default. |
|
Date |
March, 2014 |
Reason for Suspension: The Suspension follows ICRA’s
inability to carry out a rating surveillance in the absence of the requisite information
from the company.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-20-22932020)
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, Pune, India |
|
Tel. No.: |
91-2113-272273 |
|
Fax No.: |
91-2113-272856 |
|
Location : |
Owned |
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|
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Factory 3: |
Hinjewadi Office Plot No. P-1/2, |
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Tel. No.: |
91-20-22933139 |
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Factory 4: |
Belapur Office ‘303’ Mayuresh Chamber CBDl, Belapur, “New Mumbai”, Maharashtra, India
|
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Tel. No.: |
91-22-27560410 |
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Marketing Offices : |
Located at: South Zone ·
Hyderabad House No. 3-4-827, Flat No.104, Saisubhi, Laxmi Complex, Barkat Pura, Hyderabad – 500027, India Tel No.: 91-40-6534751. Fax No.: 91-40-6534753 Email : sdhanshri@eth.net ·
Bangalore 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 ·
New Delhi 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 30.09.2013
|
Name : |
Mr. Vijay Milapchand Gandhi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
686, 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 |
|
PAN No.: |
ABNPG5683K |
|
DIN No.: |
00873098 |
|
|
|
|
Name : |
Mr. Murgappa
Baburao Halvekar |
|
Designation : |
Director |
|
Address : |
Vijayanti
Apartments, Kadam Plaza, Katraj, Pune – 411043, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1960 |
|
Qualification : |
Automobile Engineering |
|
Date of Appointment : |
20.02.1992 |
|
DIN No.: |
01059435 |
|
|
|
|
Name : |
Mr. Milind
Shridhar Bhagwat |
|
Designation : |
Director |
|
Address : |
C-604, Rajyog, S.
No. 678, Bibwewadi, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1960 |
|
Qualification : |
Mechanical Engineering |
|
Date of Appointment : |
02.04.2001 |
|
PAN No.: |
AABPB0414G |
|
DIN No.: |
00907808 |
|
|
|
|
Name : |
Mr. Rajkumar
Milapchand Gandhi |
|
Designation : |
Whole-Time
Director |
|
Address : |
E-203, Shree
Rajyog Society, Bibwewadi, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1967 |
|
Qualification : |
Printing engineering |
|
Date of Appointment : |
01.04.2004 |
|
PAN No.: |
ADQPG9321D |
|
DIN No.: |
00153472 |
|
|
|
|
Name : |
Mr. Niranjan
Sadanand Nadkarni |
|
Designation : |
Independent
Director |
|
Address : |
301, Swojas
Swarraj, Krishna path, Off Law College Road, Plot No. 6A, Pune – 411004,
Maharashtra, India |
|
Date of Birth/Age : |
08.06.1965 |
|
Date of Appointment : |
17.08.2006 |
|
PAN No.: |
AAKPN7885N |
|
DIN No.: |
00602253 |
|
|
|
|
Name : |
Mr. Vishal
Prakash Katariya |
|
Designation : |
Independent
Director |
|
Address : |
317, Sindh Soc., Road
No.3 Baner Road, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1976 |
|
Date of Appointment : |
17.08.2006 |
|
PAN No.: |
AMUPK1281B |
|
DIN No.: |
00833499 |
|
|
|
|
Name : |
Mr. Ramesh
Harakchand Gugle |
|
Designation : |
Independent
Director |
|
Address : |
162, Jamkhed,
District – Ahmednagar – 413201, Maharashtra, India |
|
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. Karan Jasjit Singh |
|
Designation : |
Nominee Director |
|
Address : |
2-B, Swanalok, L. Jagmohandas Marg, Nepeansea Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1979 |
|
Date of Appointment : |
24.09.2007 |
|
DIN No.: |
00901342 |
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|
|
|
Name : |
Kateel Ganesh Kamath |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.405, Divyashree Apartments, Bejai-Kapikad Road, Mangalore –
575004, Karanataka, India |
|
Date of Birth/Age : |
12.05.1956 |
|
Date of Appointment : |
20.08.2013 |
|
DIN No. : |
06630415 |
KEY EXECUTIVES
|
Name : |
Ashish Arvind Parikh |
|
Designation : |
Secretary |
|
Address : |
“Sjree Krupa”, Sukhakarta Colony, Near Railway Over Bridge, Kinetic Chowk, Nagar Pune Road, Ahmendnagar
– 414001, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1985 |
|
Date of Appointment : |
27.03.2012 |
|
PAN No.: |
AXIPP8419P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Venture capital |
33.83 |
|
Bodies corporate |
8.65 |
|
Directors or relatives of Directors |
36.79 |
|
Other top fifty shareholders |
18.59 |
|
Others |
2.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Plastic Security
Cards for Banking, Telecom, Automobile, and Electronic Sectors. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
State Bank of India, Industrial Finance Branch Tara Chambers, 2nd Floor, Near Mariaai Police chowky, Old Pune Mumbai Highway, Wakdewadi, Pune - 411003, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Dayanand Shetty and Company Chartered Accountants |
|
Address : |
Office No. 15, Dalal Chambers, Near Nisarg Mangal, Karyalaya Market Yard, Pune – 411037, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ADWPS9232R |
|
|
|
|
Related Parties : |
Canbank Venture Capital Fund Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,750,000 |
Equity Shares |
Rs.10/- each |
Rs. 97.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,476 |
Equity Shares |
Rs.10/- each |
Rs. 70.005 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
70.005 |
70.005 |
70.005 |
|
(b) Reserves & Surplus |
44.120 |
50.702 |
57.830 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
114.125 |
120.707 |
127.835 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
215.185 |
116.684 |
140.559 |
|
(b) Deferred tax liabilities (Net) |
12.866 |
15.521 |
17.586 |
|
(c) Other long term liabilities |
0.113 |
0.026 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
228.164 |
132.231 |
158.145 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
74.168 |
84.395 |
79.497 |
|
(b) Trade payables |
52.415 |
64.695 |
56.372 |
|
(c) Other current
liabilities |
29.097 |
74.348 |
79.035 |
|
(d) Short-term provisions |
15.501 |
21.250 |
18.164 |
|
Total Current Liabilities (4) |
171.181 |
244.688 |
233.068 |
|
|
|
|
|
|
TOTAL |
513.470 |
497.626 |
519.048 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
281.125 |
301.847 |
309.541 |
|
(ii) Intangible Assets |
12.204 |
12.252 |
13.335 |
|
(iii) Capital
work-in-progress |
56.904 |
50.452 |
42.830 |
|
(iv)
Intangible assets under development |
4.203 |
3.141 |
2.220 |
|
(b) Non-current Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.270 |
3.370 |
3.452 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
1.179 |
|
Total Non-Current Assets |
358.206 |
371.562 |
373.057 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
54.242 |
52.323 |
50.255 |
|
(c) Trade receivables |
80.178 |
52.003 |
58.892 |
|
(d) Cash and cash
equivalents |
4.481 |
4.554 |
8.149 |
|
(e) Short-term loans and
advances |
8.834 |
5.380 |
12.466 |
|
(f) Other current assets |
7.529 |
11.804 |
16.229 |
|
Total Current Assets |
155.264 |
126.064 |
145.991 |
|
|
|
|
|
|
TOTAL |
513.470 |
497.626 |
519.048 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
311.613 |
306.518 |
397.255 |
|
|
|
Other Income |
1.903 |
2.775 |
3.263 |
|
|
|
TOTAL (A) |
313.516 |
309.293 |
400.518 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
135.052 |
124.354 |
194.799 |
|
|
|
Purchases of Stock-in-Trade |
1.631 |
6.642 |
5.140 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.000 |
0.210 |
8.249 |
|
|
|
Employees benefits expense |
59.077 |
62.963 |
61.818 |
|
|
|
Other expenses |
66.827 |
59.365 |
62.799 |
|
|
|
Prior Period Items |
0.006 |
2.034 |
0.000 |
|
|
|
TOTAL (B) |
262.593 |
255.568 |
332.805 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
50.923 |
53.725 |
67.713 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.248 |
39.732 |
36.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.675 |
13.993 |
31.502 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.912 |
23.186 |
22.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(9.237) |
(9.193) |
9.466 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.655) |
(2.065) |
2.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(6.582) |
(7.128) |
7.239 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.104 |
7.232 |
(0.007) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(6.478) |
0.104 |
7.232 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
16.975 |
20.721 |
28.456 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
NA |
114.984 |
|
|
|
Capital Goods |
NA |
NA |
8.976 |
|
|
TOTAL IMPORTS |
NA |
NA |
123.960 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.94) |
(1.02) |
0.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.10) |
(2.30) |
1.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.96) |
(3.00) |
2.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.04) |
(2.07) |
2.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
(0.08) |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.54 |
1.67 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.52 |
0.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
70.005 |
70.005 |
70.005 |
|
Reserves & Surplus |
57.830 |
50.702 |
44.120 |
|
Net
worth |
127.835 |
120.707 |
114.125 |
|
|
|
|
|
|
long-term borrowings |
140.559 |
116.684 |
215.185 |
|
Short term borrowings |
79.497 |
84.395 |
74.168 |
|
Total
borrowings |
220.056 |
201.079 |
289.353 |
|
Debt/Equity
ratio |
1.721 |
1.666 |
2.535 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
397.255 |
306.518 |
311.613 |
|
|
|
(22.841) |
1.662 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
397.255 |
306.518 |
311.613 |
|
Profit |
7.239 |
(7.128) |
(6.582) |
|
|
1.82% |
(2.33%) |
(2.11%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
22.721 |
63.969 |
NA |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10502603 |
29/04/2014 |
17,500,000.00 |
THE VISHWESHWAR SAHAKARI BANK LIMITED |
471/472 GULTEKADI MARKET YARD, THROUGH IT'S DHANK |
C06421317 |
|
2 |
10244477 |
22/10/2010 * |
50,000,000.00 |
THE VISHWESHWAR SAHAKARI BANK LIMITED. PUNE |
471/472, GULTEKDI, MARKET YARD, THROUGH ITS DHAN |
A98336563 |
|
3 |
90094241 |
20/03/2014 * |
355,700,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,TARA CHAMBERS, 2ND FLOOR, NEAR MARIAAI
POLICECHOWKY, OLD PUNE MUMBAI HIGH |
C05947544 |
|
4 |
90088694 |
11/11/2004 * |
25,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS; WAKDEWADI; PUNE MUMBAI ROAD, PUNE, MAHARASHTRA - 411003, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Borrowing from government semi-government bodies |
3.450 |
3.773 |
|
Other loans and advances, others |
19.350 |
17.500 |
|
Total |
22.800 |
21.273 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 12, Premanand Soc, S. No. 23, Mahavir Chambers, Balaji Nagar, Pune – 411043, Maharashtra, India to the present address w.e.f. 10.03.2010.
OPPORTUNITIES AND
OUTLOOK
The Company has bagged new orders for issuance of smart card Driving Licenses from various state Governments Uttar Pradesh State Government, Tamil Nadu Government etc. and expects increasing new business opportunities for issuance of Driving licenses, Identity Cards as per tenders of Election Commission of India etc. The Company has won one of the big tender floated by Punjab National Bank on behalf of all nationalized banks for supply of EMV dual interface cards with magstripe and in continuation of the same your Company has signed service level Agreement with various Banks in regards to the same. The Company is expecting new opportunities in other states as well and will plan to grow business in these areas along with other businesses of the Company.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Books
Periodicals
Intangible Assets
· Computer Software
Copyrights,
Patents and Other Operating Rights
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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.