MIRA INFORM REPORT

Report Date :

19.08.2008

IDENTIFICATION DETAILS

Name :	PRASHANT GENERATOR COMPANY
Registered Office :	10-SCF-NIE, Part A, Bahadurgarh-124507, Haryana
Country :	India
Financials (as on) :	31.03.2008
Year of Establishment :	1995
IEC No.:	0507015096
TIN No.: [Tax Deduction & Collection Account No.]	06201705105
PAN No.: [Permanent Account No.]	AAIFP8719M
Legal Form :	Partnership Concern With Unlimited Liability of Partners.
Line of Business :	Manufacturer and Exporter of D.G. Set, Low Noise Power Generator, Diesel Engine Set Pump Sets etc.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	USD 35000
Status :	Good
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions.

INFORMATION PARTED BY

Name :	Mr. Pankaj Saini
Designation :	Partner
Date :	04.08.2008

LOCATIONS

Registered Office/ Factory :	10-SCF-NIE, Part A, Bahadurgarh-124507, Haryana, India
Tel. No.:	91-1276-268604/ 268605
Mobile No.:	91-9811404542
Fax No.:	91-1276-268604
E-Mail :	pankajsaini_md@yahoo.com
Area :	500 sq. yds (Owned)

PARTNERS

Name :	Mr. Pankaj Saini
Designation :	Partner
Address :	Bahadurgarh
Date of Birth/Age :	35 Years
Qualification :	Graduate
Experience :	15 Years
Name :	Mr. Prashant Saini
Designation :	Partner
Address :	Bahadurgarh
Date of Birth/Age :	36 Years
Qualification :	Graduate
Experience :	15 Years

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of D.G. Set, Low Noise Power Generator, Diesel Engine Set Pump Sets etc.
Exports :
Products :	D.G Sets
Countries :	USA and South Africa
Terms :
Selling :	Cash and Credit ( 30 Days)
Purchasing :	Cash and Credit ( 30 Days)

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	35 (Office 5, Factory 30)
Bankers :	Canara Bank, Bahaduregarh
Facilities :	Limit Rs. 5.000 Millions

Banking Relations :

Satisfactory

CAPITAL STRUCTURE

Capital Investment :
Owned :	Rs. 7.000 Millions
Borrowed :	--
Total :	Rs. 7.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

SUMMARISED DETAILS

Particulars	31.03.2008	31.03.2007
Partners Share Capital	7.000	6.850
Secured Loan	7.500	0.000
Unsecured Loan	0.000	5.000
Current Liabilities and Provision	33.800	33.000
Fixed Assets	22.700	22.500
Inventories	12.000	12.765
Cash and Bank Balance	1.250	1.180
Loans and Advances	24.700	23.500
Miscellaneous Expenses	5.075	6.012
Secured Loan	[7.500]	0.000
Unsecured Loan	0.000	5.000
Sales Turnover	200.000	182.700
Profit before tax	13.660	11.540

LOCAL AGENCY FURTHER INFORMATION

Trade References:

• BSNL and Department of Post GAP, USA

TRUSTSEAL ACCEPTANCE CHART

Parameters

Details

Existence Verification

Name

PRASHANT GENERATOR COMPANY

Address

10-SCF-NIE, Part A, Bahadurgarh-124507, Haryana, India

2nd address

10-SCF-NIE, Part A, Bahadurgarh-124507, Haryana, India

Phone/ Mobile Numbers

Tel. No.:	91-1276-268604/ 268605
Mobile No.:	91-9811404542
Fax No.:	91-1276-268604

Statutory Approvals

Legal Status of Firm

Partnership

Income Tax Registration

AAIFP8719M

VAT/ TIN Registration

6201705105

Import Export Code

0507015096

Credibility Factors

IndiaMART Client Since

New Member

Years of Establishment

1995

Turn Over

2008 – Rs. 200.000 Millions

2007 – Rs. 185.000 Millions

Turn Over Year

Trade Affiliations

Export Promotion Council

Engineering Export Promotion Council

Standards & Certifications

Quality Management Systems

Yes

Safety Certificates

Yes

AS PER WEBSITE

Profile

Subject is successfully managing a diversified line of business operations and has become an asset for their esteemed clients worldwide. They are:

• An OEM (Original Equipment Manufacturer) of Generators powered by Mahindra Engines.

• An authorized Dealer of Generators of Ashok Leyland, Greaves and Kirloskar.

• An independent Manufacturer of precision Engines for Small Rice Mills, Road Rollers, Compressors, Pump Sets, Concrete Mixers and Vibrators.

• also offer ready to use generator on hiring basis up to 1250kva.

Their decentralized structure allows them to cope with their branched business activities efficiently. Very division (OEM/dealership/ Manufacturing) is controlled and supervised by a distinct team of authorities enabling them to follow streamlined production process and keep away from any chaos at workplace.

With their technical acumen, professional approach and market leading strategies, they are not only running all the business operations optimally, but have emerged as one of the leaders in their sphere of activity.

The product range includes :

Engines

Generators

Engines

They are manufacturer, exporter and supplier of variety of engines including

• Diesel Engines
• AC Diesel Engines
• Water Cooled Diesel Engines

Power Standards of Mahindra Engines:

• Rating as per IS 10000, BS 5514.
• Speed Governing as per BS 5514 (Part IV), Class A1.
• Power Output at 1500 rpm, 50 Hz.
• The Engine may be operated at 35°C ambient air temperature without deration.

Other Quality Features:

• A1 class governing:
• Safeguards the expensive equipment
• Fuel consumption : Best-in-class
• Least in vibration
• Most compact in its class
• Zero-leak engines
• Range : 2.5 KVA to 50 KVA

Empowered with such immaculate engines the Generators promise dependable performance, low operational cost and outstanding durability even in the most adverse climatic conditions.
We also Manufacture:

• Small Rice Mills
• Road Rollers
• Compressors
• Pump Sets
• Concrete Mixer.
• Vibrators

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 records 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.43.23
UK Pound	1	Rs.80.89
Euro	1	Rs.63.80

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	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	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
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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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