MIRA INFORM REPORT

Report No. :	317025
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	MANMAN MANUFACTURING COMPANY PRIVATE LIMITED
Registered Office :	1157, Sadashiv Peth, Opposite Bhave High School, Pune – 411030, Maharashtra
Tel No :	91-9725213557
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.10.2000
Com. Reg. No.:	11-015449
Capital Investment / Paid-up Capital :	Rs. 2.500 Million
CIN No.: [Company Identification No.]	U51909PN2000PTC015449
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNEM08200D
PAN No.: [Permanent Account No.]	AADCM0589J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Surgical Power Tools.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 84000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	“SE 2B”
Rating Explanation	Moderate financial profile and high performance capability.
Date	22.05.2014

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 PARTED BY

Name :	Mr. Madhukar Gokhale
Designation :	Director
Contact No.:	91-9822080030
Date :	15.04.2015

LOCATIONS

Registered Office / Factory :	1157, Sadashiv Peth, Opposite Bhave High School, Pune – 411030, Maharashtra, India
Tel. No.:	91-20-24477578 / 24450189
Mobile No.:	91-9822080030/ 7043330471 (Mr. Madhukar Gokhale)
Fax No.:	91-20-24476213
E-Mail :	manman@vsnl.com sale@manmanindia.com servic@manmanindia.com mmcpltd@manmanindia.com
Website :	www.manmanindia.com info@manmanindia.com
Area :	3000 Sq. Ft.
Location :	Owned

DIRECTORS

As on : 30.09.2014

Name :

Mr. Madhukar Ganesh Gokhale

Designation :

Chairman

Address :

1157, Sadashiv Peth, Opposite Boys Bhave High School, Pune – 411030, Maharashtra, India

Date of Birth/Age :

22.10.1940

Date of Appointment :

18.10.2000

DIN No.:

00385981

Name :

Mrs. Madhuri Madhukar Gokhale

Designation :

Director

Address :

1157, Sadashiv Peth, Opposite Boys Bhave High School, Pune – 411030, Maharashtra, India

Date of Birth/Age :

01.08.1942

Date of Appointment :

18.10.2000

DIN No.:

00385877

Name :

Ms. Swamini Prasanna Gokhale

Designation :

Director

Address :

1157, Sadashiv Peth, Opposite Boys Bhave High School, Pune – 411030, Maharashtra, India

Date of Birth/Age :

11.04.1973

Date of Appointment :

18.10.2000

DIN No.:

00386150

Name :

Mr. Sudhir Ganesh Gokhale

Designation :

Director

Address :

1157, Sadashiv Peth, Opposite Boys Bhave High School, Pune – 411030, Maharashtra, India

Date of Birth/Age :

26.03.1950

Date of Appointment :

18.10.2000

DIN No.:

00387680

Name :

Ms. Radhika Nandkumar Datye

Designation :

Director

Address :

D23/ 24, Madhavshree Society, Ganeshmala Vitthalwadi Road, Pune – 411030, Maharashtra, India

Date of Birth/Age :

04.12.1965

Date of Appointment :

18.10.2000

DIN No.:

00393135

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909PN2000PTC015449	MANMAN MANUFACTURING COMPANY PRIVATE LIMITED	Director	18/10/2000	18/10/2000	-	Active	NO
2	U29299PN2001PTC016074	DEEPNANDA TECHNOLOGIES PRIVATE LIMITED	Director	12/04/2001	12/04/2001	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Equity Shares	No. of Preference Shares
Madhukar Ganesh Gokhale	30000	20000
Madhuri Madhukar Gokhale	30000	20000
Swamini Prasanna Gokhale	30000	20000
Sudhir Ganesh Gokhale	30000	20000
Radhika Nandkumar Datye	30000	20000
Total	150000	100000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Surgical Power Tools.
Products :	Surgical Power Tools
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Surgical Power Tools
Countries :	Peru South Africa
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

End Users

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

80 (Approximately)

Bankers :

Banker Name	Bank of Maharashtra
Branch Address	Deccan Gymkhana Branch, Jangali Maharaj Road, Pune – 411004, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Borrowings from related parties :
Deposits from Shareholders having Substantial Interest	5.364	5.365
Loans from Shareholders having Substantial Interest	2.805	2.681
Borrowings from other than related parties: Secured Loans from Bank
Bank Of Maharashtra Term Loan	0.000	0.453
Bank Of Maharashtra Term Loan No. 60050368295	1.993	3.413
Bank Of Maharashtra Term Loan No. 60091377734	1.771	2.378
SHORT TERM BORROWING
Borrowings from related parties
Advance from associate concerns enterprises in which directors are substantially interested	0.582	0.891
Borrowings from other than related parties
Bank Loan Cash Credit (secured against Debtors and Stock)	13.234	14.236
Total	25.749	29.417

Auditors :
Name :	Sachin Ambedkar Chartered Accountant
Address :	1821, Sadashiv Peth, Pune – 411030, Maharashtra, India
Tel. No.:	91-20-24478724 / 24478735
Fax No.:	91-20-24476173
E-Mail :	ssamdekar@vsnl.net
PAN No.:	ACQPA5622A
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 Million
100000	Preference Shares	Rs.10/- each	Rs. 1.000 Million
	Total		Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 Million
100000	Preference Shares	Rs.10/- each	Rs. 1.000 Million
	Total		Rs. 2.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.500	2.500	2.500
(b) Reserves & Surplus	26.997	23.576	19.818
(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)	29.497	26.076	22.318
(3) Non-Current Liabilities
(a) long-term borrowings	11.933	14.290	16.937
(b) Deferred tax liabilities (Net)	0.259	0.000	0.293
(c) Other long term liabilities	2.515	2.515	2.465
(d) long-term provisions	0.000	0.052	0.159
Total Non-current Liabilities (3)	14.707	16.857	19.854
(4) Current Liabilities
(a) Short term borrowings	13.816	15.127	14.888
(b) Trade payables	9.050	9.365	8.630
(c) Other current liabilities	4.451	2.435	4.171
(d) Short-term provisions	3.469	4.218	3.023
Total Current Liabilities (4)	30.786	31.145	30.712
TOTAL	74.990	74.078	72.884
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.279	16.151	17.325
(ii) Intangible Assets	0.115	0.191	0.318
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.019	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.273	0.354	0.812
Total Non-Current Assets	15.667	16.715	18.455
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	19.450	18.939	21.942
(c) Trade receivables	37.137	31.837	25.247
(d) Cash and cash equivalents	0.946	0.627	0.539
(e) Short-term loans and advances	1.790	5.960	6.668
(f) Other current assets	0.000	0.000	0.033
Total Current Assets	59.323	57.363	54.429
TOTAL	74.990	74.078	72.884

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL REVENUE	80.114	74.914	61.602
Less	EXPENSES
		TOTAL EXPESES	74.934	69.768	56.835
	PROFIT/(LOSS) BEFORE TAX		5.180	5.146	4.767
Less	TAX		1.759	1.389	1.536
	PROFIT/(LOSS) AFTER TAX		3.421	3.757	3.231
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	7.120	3.661	2.320
		Commission Earnings	0.000	0.000	0.000
		Other Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		7.120	3.661	2.320
	Earnings Per Share (Rs.)		1368.40	1502.80	1292.40

Expected Sales (2014-15) : Rs. 120.000 Million

The above information has been parted by Mr. Madhukar Gokhale. (Director)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.27	5.02	5.24
Operating Profit Margin (PBDIT / Sales)	(%)	6.47	6.87	7.74
Return on Total Assets (PBT/Total Assets}	(%)	6.91	6.95	6.54
Return on Investment (ROI) (PBT/Networth)		0.18	0.20	0.21
Debt Equity Ratio (Total Debt /Networth)		0.87	1.13	1.43
Current Ratio (Current Asset/Current Liability)		1.93	1.84	1.77

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2.500	2.500	2.500
Reserves & Surplus	19.818	23.576	26.997
Net worth	22.318	26.076	29.497
long-term borrowings	16.937	14.290	11.933
Short term borrowings	14.888	15.127	13.816
Total borrowings	31.825	29.417	25.749
Debt/Equity ratio	1.426	1.128	0.873

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	61.602	74.914	80.114
		21.610	6.941

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	61.602	74.914	80.114
Profit	3.231	3.757	3.421
	5.24%	5.02%	4.27%

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	---------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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	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	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10513739	05/07/2014	4,000,000.00	BANK OF MAHARASHTRA	DECCAN GYMKHANA BRANCH,, JANGALI MAHARAJ ROAD,, P  UNE, Maharashtra - 411004, INDIA	C15585904
2	10339687	08/02/2012 *	3,000,000.00	BANK OF MAHARASHTRA	DECCAN GYMKHANA BRANCH,, JANGLI MAHARAJ ROAD,, PUNE, Maharashtra - 411004, INDIA	B34380345
3	10239567	26/08/2010	7,000,000.00	BANK OF MAHARASHTRA	DECCAN GYMKHANA BRANCH,, DECCAN GYMKHANA,, PUNE,  Maharashtra - 411004, INDIA	A94708229
4	10106664	05/07/2014 *	18,500,000.00	BANK OF MAHARASHTRA	DECCAN GYMKHANA BRANCH,, JANGALI MAHARAJ ROAD,PUNE, Maharashtra - 411004, INDIA	C15071582
5	90094220	21/07/2005 *	2,750,000.00	BANK OF MAHARASHTRA	DECCAN GYMKHANA BRANCH, PUNE, Maharashtra – 411004,  INDIA	-
6	90085762	30/05/2008 *	7,500,000.00	BANK OF MAHARASHTRA	1257, PAWAR BUILDING,, DECCAN GYMKHANA BRANCH,, P  UNE, Maharashtra - 411005, INDIA	A39832969

* Date of charge modification

FIXED ASSETS

• Land
• Factory Shed
• Furniture and Fixtures
• Electrical Fittings
• Plant and Machinery
• Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.48

INFORMATION DETAILS

Information Gathered by :	RKA
Analysis Done by :	SUB
Report Prepared by :	RNK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.