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×

minosha india Limited

280.00
-3.45 %
Scrip Name
MINOSHA
ISIN No.
INE291B01015
PAN No.
AAACR4151J
Face Value
10
No. of Outstanding Shares
47,906,784
Market Capitalization
1,341.39 Crore

MINOSHA INDIA LIMITED DELISTED SHARE

ABOUT MINOSHA INDIA LIMITED

MINOSHA INDIA LIMITED (Formerly known as Ricoh India Limited) has recently become Ricoh Partner. Minosha India Limited offers services from Printing & Document Solutions Cloud services to Communication Systems. Minosha’s Total Green Office Solution (TGOs) helps customers to achieve their targets by visualizing, analyzing, and minimizing their environmental impact by optimizing their office infrastructure and workflows.

Minosha India Limited is a well-recognized System Integrator for IT services projects that have helped the Indian Government and various state governments of India to bring out digital transformation in the fields of Healthcare, Education, E-Governance, and other Public centric initiatives. Some of the prestigious projects are still under process.

Minosha India Limited offers products including Printers, Projectors, Cameras, and many more. The company offers services including Managed Document Services, IT services, Communication Services, and Sustainability Management Services.

The Equity shares of Ricoh India Limited were listed on the Bombay Stock Exchange till December 23, 2019, after which RID was delisted. The company was making huge losses and its then ultimate parent company ‘Ricoh Company Limited’ withdrew its financial support which was given by it to enable the RID to meet its financial obligations as and when they fall due.

Ricoh India Limited then filed for corporate insolvency resolution process which was passed by the NCLT in November 2019. The Resolution plans cover the merger of the “Bid Co” (Minosha Digital Solutions Private Limited or ‘MDS’) with Ricoh India Limited, which will result in an infusion of Rs. 32 Crores in Ricoh India Limited. Additionally, the Successful Resolution Applicants (Mr. Kalpraj Dharamshi and   Mrs. Rekha Jhunjhunwala) would infuse a further Rs. 21 Crores into the company. The resolution applicants will infuse money against the 2.1 Crores OCD’s of Rs. 10 each for 7 years at a 12% rate.

The plan also proposed delisting the equity shares of Ricoh India Limited from BSE and providing an exit option to public shareholders thereof at an exit price of Rs. 50/- per equity share. Moreover, the resolution applicants (Mr. Kalpraj Dharamshi and   Mrs. Rekha Jhunjhunwala) acquired the entire shareholding of RCL & NRG Group for Rs. 2.49 Crores at Rs. 0.85 per equity share.

The company is fully operational from 1st April 2021. The company is now focusing on increasing sales by promoting its products of high margin. For this, the company will be following the channel marketing. Minosha India Limited will not be manufacturing the products but will purchase them mainly from “Ricoh Company Limited, Japan”.

INCORPORATION DETAILS

CIN

L74940MH1993PLC074694

Registration Date

22nd October 1993

Category/Sub-category of the Company

Limited by Shares

Address of the Registered office and contact details

Unit No. 204, 2nd Floor, Town Centre I, Near

Mittal Industrial Estate, Andheri Kurla Road,

Sakinaka, Andheri East, Mumbai – 400 059)

Tel: 022-66833000

Name, Address, and Contact Details of

Registrar and Transfer Agent, if any

M/s. MCS Share Transfer Agent Limited

F-65, 1st Floor, Okhla Industrial Area,

Phase-I, New Delhi – 110 020

Tel: 011-41406149/51

 PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

IT Services

6209

37.21%

Multifunctional Printers (MFPs)

4799

62.79%

 BOARD OF DIRECTORS

Mr. Kalpraj Dharamshi (Chairman)

Mr. Atul Thakker (Managing Director)

Mr. Aniket Dharamshi (Whole Time Director)

Ms. Arti Sanganeria (Director)

Mr. Deepak Gala (Independent Director)

Mr. Rajesh Dharamshi (Independent Director)

PARTICULARS OF ASSOCIATE COMPANIES

Name of the Company

% of shares held

I.D.C. Electronics Limited

39.97%

 

 

 

 

SHAREHOLDING PATTERN

(As of 31-03-2020)

S. No.

Shareholder’s Name

Number of shares

% of total Shares of the company

1

Mr. Kalpraj Dharamshi

2,22,32,547

46%

2

Mrs. Rekha Jhunjhunwala

2,22,32,548

46%

3

Public Shareholding

34,41,689

7.18%

 

Total

4,79,06,784

100.00%

INDUSTRY OUTLOOK

The Paper and Print Industry in India is showing large potential. Demand for paper is increasing due to increased demand for packaged products. Paper production in India is increasing, but the resources for the paper market are limited. An increase in demand for paper clearly signals an increase in the Print market of India. As the demand for high qualitative products is increasing, the print market shows a good outlook.

The print machinery production in India is growing steadily and has registered of growth of 20% year on year basis for the last few years. For the Print market, packaging and publishing printing will the main drivers for growth. Printing and writing segment demand is expected to grow at a CAGR of 4.5%. It is expected to reach 5.8 million tonnes in the FY 2020-21. Demand for Packaging Paper & Board segment is expected to grow at a CAGR of 8.9%. It is expected to reach 11.1 million tonnes in FY 2021.

Moreover, the industry is gradually progressing from heavy machinery to a more software-centric business. UV digital printing and Inkjet technology are on a rise in India. The digital enhancement of print like Coatings, metallics, white inks, spot colors, and gamut extenders are revolutionizing the printing industry. Another prominent change that is happening in the printing industry is the adoption of Intelligent Workplace Services (IWS). Intelligent Workplace Services uses comprehensive security, analytics, digitization, and cloud technologies and software to deliver a more seamless work experience across the paper and digital platforms.

Managed Document Services is a holistic and advanced approach to optimizing document output in the most appropriate way possible. In the global market, the Document management services market is booming with rising adoption across various sectors like medical, corporate, etc. Digital Services like imaging & scanning, document management, archiving, and indexing are the main drivers for the growth of Document Management Services throughout the world.

  

Profit and Loss Statement of Minosha India Limited                                                      (in Rs. Lakhs)

 

Particulars

2021

2020

2019

2018

Net Sales

28,729

44,233

60441

68164

Other Income

2,712

1,928

927

823

Total Income 

31,441

46,161

61368

68987

Profit/(Loss) before interest, depreciation, and exceptional items

4,805

3,006

-2565

-26461

Finance Cost

585

425

334

7100

Depreciation and amortization

984

1,195

1188

1736

Profit/(Loss) before exceptional items and tax 

3,236

1,386

-4086

-35297

Exceptional Items

0

3,316

12201

54018

Profit/(Loss) before tax after exceptional items

3,236

-1,930

-16287

-89,315

Tax Expense

0

0

0

-95

Profit/(Loss) after tax

3,236

-1,930

-16287

-89375

Basic EPS

6.75

-5

-41

-225

         
         

Balance Sheet as of March 31, 2021                                                   ( In Rs. Lakhs)

   
   

Particulars

2021

2020

   

ASSETS

 

 

   

Non-current assets

 

 

   

Property, plant, and equipment

7988

8335

   

Other intangible assets

67

136

   

Right-of-use-assets

231

663

   

Goodwill

13719

13719

   

Financial assets

 

 

   

 (i) Investments

43894

0

   

 (ii) Loans

141

259

   

 (iii) Other financial assets

4544

8743

   

Income tax assets

1414

1975

   

Total non-current assets 

71998

33830

   

Current assets

 

 

   

Inventories

3374

7447

   

Financial assets

 

 

   

(i) Trade receivables

47200

32260

   

(ii) Cash and cash equivalents

10481

21933

   

(iii) Bank balances other than cash and cash equivalents Above

2431

13887

   

(iv) Loans

56

1

   

(v) Other financial assets

9043

17155

   

Other current assets

2791

3470

   

Total current assets 

75376

96153

   

Total assets

147374

129982

   

EQUITY AND LIABILITIES

 

 

   

Equity

 

 

   

Equity share capital

4791

4791

   

Other equity

128195

112660

   

Total equity 

132986

117451

   

Liabilities

 

 

   

Non-current liabilities

 

 

   

Financial liabilities

 

 

   

(i) Borrowings

0

2168

   

(iii) Other financial liabilities

566

717

   

Provisions

317

491

   

Other non-current liabilities

4

8

   

Total non-current liabilities

887

3384

   

Current liabilities

 

 

   

Financial liabilities

 

 

   

(i) Borrowings

2421

189

   

(ii) Trade payables

 

 

   

 a) Total outstanding dues of micro and small enterprises

102

88

   

 b) Total outstanding dues of creditors other than micro and small

6113

5553

   

enterprises

 

 

   

(iii) Other financial liabilities

1160

811

   

Provisions

95

198

   

Other current liabilities

3610

2307

   

Total current liabilities 

13501

9147

   

Total liabilities 

14388

12531

   

Total equity and liabilities

147374

129982

   
         
         
         
         

 

 

 

 

 

Dividend History

       
         

Year

2021

2020

2019

2018

Final + Interim Dividend

0

0

0

0

 

Performance of the Company 

The revenue of the company has been on the decline for the past few years, In FY 2020 total revenue was Rs.  46161 Lakhs and in FY 2021 it fell by 31.9% to Rs. 31441 Lakhs.

For the past three companies were reporting losses but this year company has turned profitable, FY 2020 company reported Rs. -1930 Lakhs as the loss but in FY 2021 it reported a profit of Rs. 3236 Lakhs.

The Current Ratio of the company has deteriorated as in FY 2020 it was  10.5 times but in FY 2021 it is 5.58 times.

The Company has not given any dividend for the past 3 years.

The current book value of the share is Rs. 277 per share.

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