Competitors

Titan Ind. Jubilant food CRISIL MCX India Info Edge Tube investment

1986 - The Company was incorporated on 11th July, as a Private Limited Company, in the State of Maharashtra . - Multi-Arc India Private Limited was promoted in 1986 for undertaking ceramic coatings of cutting tools. The project was set up in technical & financial collaboration with Mult-Arc Scientific Coatings, USA, a division of Andal Corporation, USA. - The Company has been promoted by Mr. Chunilal O. Jani, Mr. Ashok K. Jani, Mr Bharat H. Deliwala, Mr. Tushar Jani and Mr. Bharat Shah. 1993 - The Company has entered into an agreement with Multi-Arc, USA, for undertaking the manufacture of ION BOND COATING SYSTEMS. 1994 - The Company was converted into a Public Limited Company received a fresh Certificate of Incorporation on 23rd May. The Company's Public Issue of 9,00,000 No. of Equity Shares of Rs. 10/- each for cash at a premium of Rs. 30/- per share aggregating Rs. 360.00 lacs. 2006 -Multi Arc India signs MOU with Dynatech Furnaces on April 05, 2006.

 Company Profile MIL was promoted in 1986 as a private limited company, with technical and financial collaboration from Multi-Arc Scientific Coatings, US. In 1989, a group company, Dura Coaters (P) Ltd, was merged with MIL and, in May '94, it was converted into a public limited company. The company was promoted by Chunilal O Jani, Ashok K Jani and others. A K Jani is the Chairman and Managing Director. MIL undertakes projects to provide wear-resistant coatings to cutting tools, decorative coatings on consumer products (using titanium nitride) and to manufacture and install ion bond coating systems. A public issue was made for Rs.3.6 crore in 1994 and the proceeds were used for by expanding the existing capacity for undertaking large-scale coating of titanium nitride for decorative applications and setting up an R&D centre at Pune. The automobile industry is MIS's biggest consumer and the boom in the industry is expected to increase the market potential for the company's products. In 1998-99, Department of Science and Technology has helped the company by giving a soft loan for developing of new technology, of Plasma Ion Nitriding and it has increased the installed the heat treatment to 32,000 kgs. The company raised additional equity of Rs. 125 lacs in 2000-2001.A new technology development project namely 'Indo-Italian Project' launched by Ministry of Technology GOI was been undetaken by the company.

BALANCE SHEET

Key Financial Ratios of Multi-Arc India

March 09 March 08 March 07 March 06 March 05

CHAIRMANS SPEECH
I Welcome you to the 22nd Annual General Meeting of your Company. I thank all the Stakeholders for patiently being with the management during the very testing and challenging period. The year began with great hope of consolidating of past gains. Till half the year, everything went as per the plan and our Partner was planning to invest in substantial money in the company. In fact, they did invest Rs. 6.57 crores in our 100% subsidiary and were to invest more, but because of US melt down their plan got postponed. By December 2008, all major Watch Companies almost stopped their Watch production and started selling inventory, which gave us a major setback in our progress. Our Bangalore Plant which was catering to TITAN Industries Ltd., was literally closed. This resulted in the substantial loss of revenue and profit. The Gold price also increased rapidly, increasing our Working Capital and compressed profits. As a result of that we started focusing on Components which does not require Gold. Products like Sewing Needles, Pen Parts and other coatings was developed to save the situation.

I am pleased to inform that we have developed the coating on Pen Parts, manufacturing Pen Clips from our Bharuch Plant and Diamond Like Carbon coating on Watch and Pen Parts. These are high priced low volume and high profit margin coatings.
I would like to make a special reference to Black Coating which is new fashion in the Watch Market. The Shiny Jet Black hard coating would be very attractive for Watch, Pen Parts and Luggage. Based on our collaboration, our Partners - UCT Coatings have developed this for coating on Weapons. This will result into global synergy between UCT and us. The other significant development is that we have tightened up our Gold management and Gold efficiency. We have rationalized our man power planning. We have reduced our work force by 30%; though the impact of this will be visible in the next year. We are in the process of changing the Banking relations to more aggressive and larger Bank. At present, our major problem is Working Capital. The loss of production on account of inadequate Working Capital is about 20% to 30%. In the last few months, the market has revived. We are fully booked with orders, but facing on Working Capital crisis. This new Banking . arrangement would release that resolve our problems and help us to clear our statutory dues. We are also in the process of selling our un-productive asset like the Office in Mumbai and converting that into Working Capital. This office sale is also facing problem of realization because of recession, which I suppose should be resolved in a short time. We are definitely bad weathered by the economic storm, but not dead. 20% to 30% of the small Watch component manufacturers have closed down their shutters. Since we have survived this bad weather, now with clear signs of economic revival, we will be back in business and cover all the lost ground in the coming year Our commitments to our stakeholder remains strong and continues to drive all our efforts. Sincerely, Ashok K.

About Us Multi-arc is a nationwide supplier of thin film coating services and equipment with operations in Umargam and Housur. Pick-up and delivery are available for qualified customers along with other services designed to maximize quality with rapid turnaround and superior performance. Our coating centers offer the latest in thin film coating and surface enhancement technology. State-of-the-art Cathodic Arc PVD are available through Multi-arc.

Memberships / Affiliations In our continuing commitment to produce high quality coatings, Multi-arc has been certified to ISO 9001 : 2000 standards.

MAIL achieved a net profit for the year 2006-07 after a gap of 9 years * Takeover of Bharuch Unit from SONIC / SOTEX * Largest watch strap manufacturer in India * Set up new coating canter facility at Hosur to cater to Titan requirements * Plans to set up coating canter facility at Parwanoo to cater to Northern area *

Set up joint venture company UCT INDIA LTD in India with technical collaboration of UCT Inc, USA. *
UCTIL will have specialised coating suitable for Defense and other applications. * Developed Non Gold coating applicable to Pen parts and other applications such as Surgical Instruments, Hardware etc. * Did preferential issue of Rs 19 crore in 2006 at a premium of Rs 62 to augment working capital * Did preferential issue of Rs 7 crore in 2007 at a premium of Rs 29 to augment working capital