MIRA INFORM REPORT
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Report No. : |
323323 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAN INDUSTRIES INDIA LIMITED |
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|
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Registered
Office : |
101, Man House, Opposite Pawan Hans, S.V. Road,
Vile Parle (West), Mumbai – 400 056, Maharashtra |
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Tel. No.: |
91-22-66477500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
19.05.1988 |
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Com. Reg. No.: |
11-047408 |
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Capital
Investment / Paid-up Capital : |
Rs. 285.500 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1988PLC047408 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20899E |
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PAN No.: [Permanent Account No.] |
AAACM2675G |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer and Exporter of Large Diameter Carbon Steel Line Pipes. |
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No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. The rating reflect Man Industries’ established position in the SAW pipes
industry supported by healthy net worth base and sound financial risk profile
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Loan: BBB+ |
|
Rating Explanation |
Moderate degree of safety, it carry moderate credit risk |
|
Date |
17.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Loan: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
17.06.2014 |
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.
Subject’s name has been found enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul sanghavi |
|
Designation : |
DGM Finance |
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Contact No.: |
91-22-66477500 |
|
Date : |
18.05.2015 |
LOCATIONS
|
Registered/
Corporate Office : |
101, Man House, Opposite Pawan Hans, S.V.
Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-66477500/ 26108888 |
|
Fax No.: |
91-22-66477600/ 01/ 66477613 |
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E-Mail : |
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Website : |
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Factory : |
Pipe and Coating Division (Pithampur)
Plot No. 257/258 B, Sector No. 1, Pithampur Industrial Area, District :
Dhar, Pithampur - 454775, Madhya Pradesh, India Tel. No. 91-7292-253666/253659/253291 Fax No.: 91-7292-253257 PIPE AND COATING
COMPLEX (ANJAR):- (EXPANSION PROJECT) Village : Khedoi, Mundra Highway, Taluka : Anjar, District : Kutch
(Gujarat), India Tel. No : 91-2836-275751/ 275752 Fax No.: 91-2836-275750 |
|
|
|
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Delhi : |
902, 9th Floor, Indraprakash Building, 21 Barakhamba Road, New Delhi – 110 001, India |
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Tel No: |
91-11-23359405/ 23314473 |
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Fax No: |
91-11-23731920 |
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Email : |
mandelhi@maninds.org
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Dubai : |
LOB 16, Office No.16241,
P.O Box- 18737, Jebeli Ali, UAE |
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Tel / Fax : |
97165724626 / 4616 |
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E-Mail : |
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AU-30-E, AU Tower Gold, Jumeira Lakes Towers, Dubai – UAE |
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Tel No: |
+ 971 4 4327909 |
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Fax No: |
+ 971 4 4328219 |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Ramesh C. Mansukhani |
|
Designation : |
Executive Chairman |
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Name : |
Mr. Nikhil Mansukhani |
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Designation : |
Executive Director |
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Name : |
Mr. Ashok Gupta |
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Designation : |
Director and Chief
Financial Officer |
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Name : |
Mr. Kirit Damania |
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Designation : |
Director |
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Name : |
Mr. Pramod K. Tandon |
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Designation : |
Director |
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Name : |
Mr. Dhananjay
Datar |
|
Designation : |
Independent
Director |
KEY EXECUTIVES
|
Name : |
Mr. Mangesh Nabar |
|
Designation : |
Senior Vice President, Marketing and Business Development |
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Name : |
Mr. Krishna Gopal Mantri |
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Designation : |
Senior Vice President, Corporate Affairs |
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Name : |
Krishna Kumar Purohit |
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Designation : |
Director - Operations |
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Name : |
Mr. Lalit Tolwani |
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Designation : |
Senior Vice President, Operations |
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Name : |
Mr. Umesh Rastogi |
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Designation : |
Vice President, Business Development and Technical Services |
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Name : |
Mr. Ashok Sarkar |
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Designation : |
Vice President, Business Development and Marketing |
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Name : |
Mr. Sanjay Sohani |
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Designation : |
Vice President, Operations and Electricals |
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Name : |
Mr. Paresh Pandhakarne |
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Designation : |
Vice president, HR and Admin |
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Name : |
Mr. Manoj Koul |
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Designation : |
Assistant Vice President – Legal and Secretarial |
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BOARD
COMMITTEES : |
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Audit
Committee: |
Mr. Kirit N. Damania (Chairman) Mr. Pramod Tandon Mr. Dhananjay Datar |
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Shareholders/ Investors Grievance
Committee : |
Mr. Pramod Tandon (Chairman) Mr. Kirit N. Damania Mr. Dhananjay Datar |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
21393514 |
37.46 |
|
|
7768451 |
13.60 |
|
|
29161965 |
51.07 |
|
|
|
|
|
|
1791071 |
3.14 |
|
|
1791071 |
3.14 |
|
Total shareholding
of Promoter and Promoter Group (A) |
30953036 |
54.21 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
200 |
0.02 |
|
|
42184 |
0.08 |
|
|
911682 |
1.60 |
|
|
3630484 |
6.36 |
|
|
0.00 |
0.00 |
|
|
4584550 |
8.05 |
|
|
|
|
|
|
6643335 |
11.65 |
|
|
|
|
|
|
6711656 |
14.09 |
|
|
1447259 |
2.53 |
|
|
5283351 |
9.47 |
|
|
537291 |
0.94 |
|
|
566368 |
1.21 |
|
|
1818181 |
3.18 |
|
|
2361511 |
4.14 |
|
|
20085601 |
37.74 |
|
Total Public
shareholding (B) |
24670151 |
45.79 |
|
Total (A)+(B) |
55623187 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
55623187 |
100.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
S. No. |
Name of the Shareholder |
Details of Shares held |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
No. of Shares held |
As a % of grand total |
|||
|
1 |
Jagdish Jamaklal Mansukhani |
1,00,08,288 |
17.53 |
9203000 |
|
2 |
Rameshchandra Mansukhani |
1,06,73,434 |
18.69 |
8074700 |
|
3 |
Man Finance Limited |
44,00,000 |
7.71 |
2300000 |
|
4 |
Man Global Limited |
18,45,012 |
3.23 |
1845000 |
|
5 |
Nikhil Rameshchandra Mansukhani |
12,50,000 |
2.19 |
0 |
|
6 |
Deepadevi Rameshchandra Mansukhani |
9,05,604 |
1.59 |
905000 |
|
7 |
Man Steel And Power Limited |
8,34,391 |
1.46 |
380000 |
|
8 |
JPA Solutions Private Limited |
6,89,048 |
1.21 |
657000 |
|
9 |
Priyal Mansukhani |
2,15,979 |
0.38 |
200000 |
|
10 |
Rameshchandra Mansukhani |
72,200 |
0.13 |
0 |
|
11 |
Jagdish Jamaklal Mansukhani |
57,500 |
0.10 |
0 |
|
12 |
Anita Jagdishchand Mansukhani |
1,580 |
0.00 |
0 |
|
|
Total |
3,09,53,036 |
54.21 |
23564700 |
Shareholding of securities
(including shares, warrants, convertible securities) of persons belonging to
the category Public and holding more than 1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Orange Mauritius Investments Limited |
2541462 |
4.45 |
|
|
2 |
Mangal Keshav Capital Limited |
2296276 |
4.02 |
|
|
3 |
Heena Vinay Kalantri |
2361511 |
4.14 |
|
|
4 |
Kobe Steel Limited |
1818181 |
3.18 |
|
|
5 |
United India Insurance Company Limited |
645881 |
1.13 |
|
|
6 |
Godavari Commercial Services Private Limited |
981500 |
1.72 |
|
|
|
Total |
10644811 |
18.64 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Large Diameter Carbon Steel Line Pipes. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler, Retailers and Manufacturer
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
· State Bank of India Commercial Branch, Indore and Overseas Branch, Mumbai, Maharashtra, India · Bank of Baroda Mumbai Main Branch, Fort, Mumbai, Maharashtra, India · ICICI Bank Limited Mumbai Main Branch, Fort, Mumbai, Maharashtra, India ·
Axis
Bank Fort Branch,
Mumbai, Maharashtra, India · Corporation Bank IFB, Fort, Mumbai,
Maharashtra, India · Union Bank of India Fort, Mumbai
Maharashtra, India ·
Bank of
India Andheri, Mumbai,
Maharashtra, India · IDBI Bank |
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Facilities : |
(Rs.
In Million)
|
|
|
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|
Banking Relations
: |
-- |
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|
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Auditors : |
|
|
Name : |
Rohira Mehta and Associates Chartered
Accountants |
|
Address : |
Mumbai, |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Associate Company : |
·
Man Global FZC, UAE |
|
|
|
|
Subsidiaries : |
·
Man Infraprojects Limited ·
Man Overseas Metal DMCC ·
Man USA incorporation |
|
|
|
|
Subsidiary of Man Infraprojects Limited : |
·
Merino Shelters Private Limited |
|
|
|
|
Enterprises Controlled or significantly influenced by key management
personnel or their relatives with whom transaction have occurred : |
·
Seven Star Wellness Private Limited ·
Man Finance Limited ·
Ardeuir Apparel Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2015
Authorized Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 285.500
Million
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
Rs.5/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
57103055 |
Equity Shares |
Rs.10/- each |
Rs.285.515
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
285.500 |
285.515 |
298.835 |
|
(b) Reserves & Surplus |
4600.800 |
6347.074 |
6824.447 |
|
(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) |
4886.300 |
6632.589 |
7123.282 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2646.900 |
3097.606 |
2985.675 |
|
(b) Deferred tax liabilities
(Net) |
424.000 |
536.772 |
525.878 |
|
(c) Other long term
liabilities |
14.400 |
8.039 |
33.422 |
|
(d) long-term provisions |
144.000 |
131.396 |
129.303 |
|
Total
Non-current Liabilities (3) |
3229.300 |
3773.813 |
3674.278 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1195.400 |
1087.282 |
2376.594 |
|
(b) Trade payables |
3984.000 |
3625.565 |
2235.168 |
|
(c) Other current liabilities |
996.300 |
446.595 |
613.448 |
|
(d) Short-term provisions |
190.800 |
213.094 |
256.029 |
|
Total
Current Liabilities (4) |
6366.500 |
5372.536 |
5481.239 |
|
|
|
|
|
|
TOTAL |
14482.100 |
15778.938 |
16278.799 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3535.300 |
4031.815 |
3933.854 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
34.000 |
19.276 |
32.643 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1010.000 |
190.096 |
189.246 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
741.200 |
267.024 |
888.488 |
|
(e) Other Non-current assets |
415.000 |
498.125 |
529.855 |
|
Total
Non-Current Assets |
5735.500 |
5006.336 |
5574.086 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
8.900 |
15.924 |
107.059 |
|
(b) Inventories |
1360.100 |
1154.149 |
1727.025 |
|
(c) Trade receivables |
4655.800 |
4655.800 |
2983.500 |
|
(d) Cash and cash equivalents |
1483.200 |
1784.320 |
1687.462 |
|
(e) Short-term loans and
advances |
1110.800 |
4787.904 |
3935.611 |
|
(f) Other current assets |
127.800 |
205.250 |
264.056 |
|
Total
Current Assets |
8746.600 |
10772.602 |
10704.713 |
|
|
|
|
|
|
TOTAL |
14482.100 |
15778.938 |
16278.799 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6548.2 |
10052.849 |
14618.171 |
|
|
|
Other Income |
133.5 |
308.012 |
796.988 |
|
|
|
TOTAL (A) |
6681.700 |
10360.861 |
15415.159 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4303.000 |
7138.267 |
9945.779 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
1222.038 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
563.300 |
(199.576) |
338.205 |
|
|
|
Employees benefits expense |
112.000 |
376.906 |
425.499 |
|
|
|
Other expenses |
733.600 |
965.236 |
1914.853 |
|
|
|
Exceptional items |
0.000 |
0.000 |
540.695 |
|
|
|
construction Cost |
113.000 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
|
9502.871 |
13165.031 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
856.800 |
857.990 |
2250.128 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
173.800 |
417.637 |
441.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
683.000 |
440.353 |
1808.854 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
140.400 |
317.698 |
387.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
542.600 |
122.655 |
1421.323 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
94.700 |
33.705 |
413.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
447.900 |
88.950 |
1007.414 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Profit and loss appropriations |
NA |
(13.000) |
6.300 |
|
|
|
Transfer to General Reserve |
NA |
6.700 |
100.700 |
|
|
|
Proposed Dividend |
NA |
57.100 |
119.500 |
|
|
|
Provision For Taxations – Dividend |
NA |
9.700 |
20.300 |
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
3794.900 |
10993.800 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2326.630 |
8843.692 |
|
|
|
Others |
NA |
82.893 |
109.289 |
|
|
TOTAL IMPORTS |
NA |
2409.523 |
8952.981 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.84 |
1.56 |
17.32 |
|
Expected Sales (2015-2016): Rs. 17000.000 Million
The above information has been parted by Mr. Rahul Sanghvi
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
197.720 |
0.000 |
|
Cash generated from operations |
NA |
2493.518 |
(4056.026) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
6.84 |
0.88 |
6.89 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
13.08 |
8.53 |
15.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.04 |
0.79 |
8.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.02 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83 |
0.66 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
2.01 |
1.95 |
STOCK PRICES
|
Face Value |
Rs.5.00 |
|
Market Value |
Rs.70.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
298.835 |
285.515 |
285.500 |
|
Reserves & Surplus |
6824.447 |
6347.074 |
4600.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7123.282 |
6632.589 |
4886.300 |
|
|
|
|
|
|
long-term borrowings |
2985.675 |
3097.606 |
2646.900 |
|
Short term borrowings |
2376.594 |
1087.282 |
1195.400 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
197.720 |
0.000 |
|
Total
borrowings |
5362.269 |
4382.608 |
3842.300 |
|
Debt/Equity
ratio |
0.753 |
0.661 |
0.786 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
14618.171 |
10052.849 |
6548.200 |
|
|
|
(31.230) |
(34.862) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
14618.171 |
10052.849 |
6548.200 |
|
Profit |
1007.414 |
88.950 |
447.900 |
|
|
6.89% |
0.88% |
6.84% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
|
|
12 |
Voter Id Card No. of Proprietor / Partners |
|
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
ITXAL/479/2015 |
Failing Date:- |
17/04/2015 |
|
|
|
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX |
Respondent:- |
M/S MAN INDUSTRIES LIMITED |
||||
|
Petn.Adv:- |
TEJVEER SINGH MASTAN SINGH |
Resp. Adv.: |
0 (0) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|||||
|
Last Date:- |
24/04/2015 |
||||||
|
Last Coram:- |
REGISTRAR (OS) / PROTHONOTARY AND SR. MASTER. |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|||||
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As on 31.03.2015 |
As on 31.03.2014 |
|
SHORT TERM
BORROWINGS: |
|
|
|
FROM BANK |
|
|
|
Rupee loans |
NA |
265.749 |
|
Total |
NA |
265.749 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10393477 |
29/11/2012 |
19,900,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN ., GROUND
FLOOR, 17, R.KAMANI MARG,, BA |
B64718737 |
|
2 |
10363370 |
09/06/2012 |
1,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI - 390007, VADODARA, GUJARAT, INDIA |
B42775023 |
|
3 |
10355080 |
12/12/2012 * |
2,987,380,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,, BA |
B65585002 |
|
4 |
80012745 |
02/05/2012 * |
17,400,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH,
WORLD TRADE CENTRE,, POST BOX NO |
B39435193 |
FIXED ASSETS:
· Land
· Factory Building
· Office Premises
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Office Equipment
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.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
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.