MIRA INFORM REPORT

Report Date :

26.04.2011

IDENTIFICATION DETAILS

Name :	JAI DURGA HITECH ENTERPRISES
Registered Office :	Near Chauhan Oil Depot, Khasra No. 38, Village Dabri Industrial Area, New Delhi-110046
Country :	India
Financials (as on) :	31.03.2011 (Provisional)
Date of Incorporation :	12.03.2007
Com. Reg. No.:	07470326182
PAN No.: [Permanent Account No.]	AMTPP9399N
Legal Form :	Sole Proprietory Concern
Line of Business :	Manufacturer of Fabrication of Iron and Steel Products.

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Concern
Payment Behaviour :	No Complaints
Litigation :	Clear
Comments :	Subject is a relatively small concern in its field. Trade relations are fair. Scale of activity is limited. No valuation report has been provided. No complaints have been heard from indirect or market sources. It would be advisable to take adequate securities while dealing with the subject.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

LOCATIONS

Registered Office/ Factory :	Near Chauhan Oil Depot, Khasra No. 38, Village Dabri Industrial Area, New Delhi-110046, India
Mobile No.:	91-9811647351 (Mr. Jagmohan Pandey)
E-Mail :	jdconcertina@gmail.com
Area :	Rented

SOLE PROPRIETOR

Name :	Mr. Jagmohan Pandey
Designation :	Proprietor
Address :	WZ-495, Naraina Village, New Delhi-110028, India

BUSINESS DETAILS

Line of Business :	Manufacturer of Fabrication of Iron and Steel Products.
Terms :
Selling :	Credit (60 Days)

GENERAL INFORMATION

Suppliers :	· Biharjee Steel Corporation · OM Enterprises · R.D.S. Sale · Shree Chander Prabhu Wire Industries
Customers :	Wholesalers and Retailers · A P Enterprises · Defensive Wire and Devise · Hindalco Industries Limited · Narbir Singh Company, Haryana · Nitin Wire and Meshes · Royal Hardware and Tool
No. of Employees :	Approximately 8 (Office 1, Factory 7)
Bankers :	Axis Bank Corporation Bank, Vasant Vihar Branch

Banking Relations :	--
Auditors :
Name :	H K Khann and Company Chartered Accountant
Address :	203-204, 2^nd Floor, Aditya Complex, Nangai Raya, N.D. 46
Tel. No.:	91-11-28520352/ 45612852
Mobile No.:	91-9350249346/ 9811313118
Fax No.:	91-11-28520352/ 45612852
E-Mail :	casuresnsingh@gmail.com bbkaira@yahoo.com

CAPITAL STRUCTURE

As on 31.03.2011

Capital Investment :
Owned :	Rs. 1.000 Million
Borrowed :	Rs. 0.950 Million
Total :	Rs. 1.950 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011 (Provisional)	31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		1.000	0.554	0.331	0.300
2] Share Application Money		0.000	0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000	0.000
NETWORTH		1.000	0.554	0.331	0.300
LOAN FUNDS
1] Secured Loans		0.950	0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.022	0.000
TOTAL BORROWING		0.950	0.000	0.022	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000	0.000
TOTAL		1.950	0.554	0.353	0.300
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.024	0.028	0.033	0.000
Capital work-in-progress		0.000	0.000	0.000	0.000
INVESTMENT		0.085	0.085	0.085	0.085
DEFERREX TAX ASSETS		0.000	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.950	0.501	0.013	0.038
	Sundry Debtors	1.750	0.758	0.115	0.011
	Cash & Bank Balances	0.250	0.387	0.272	0.176
	Other Current Assets	0.003	0.002	0.100	0.000
	Loans & Advances	0.022	0.022	0.022	0.000
Total Current Assets		2.975	1.670	0.522	0.225
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.850	0.955	0.071	0.000
	Other Current Liabilities	0.284	0.274	0.216	0.010
	Provisions				0.000
Total Current Liabilities		1.134	1.229	0.287	0.010
Net Current Assets		1.841	0.441	0.235	0.215
MISCELLANEOUS EXPENSES		0.000	0.000	0.000	0.000
TOTAL		1.950	0.554	0.353	0.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011 (Provisional)	31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	11.200	8.880	6.007	1.173
		Other Income	0.022	0.399	0.068	0.465
		TOTAL	11.222	9.279	6.075	1.638
Less	EXPENSES
		Cost of goods Sold	9.101	7.521	4.660	0.668
		Salary	0.200	0.189	0.043	0.096
		Accounting charges	0.048	0.048	0.018	0.000
		Bank Charges	0.004	0.005	0.001	0.002
		Office Rent	0.126	0.114	0.215	0.036
		Postage and Courier	0.033	0.003	0.001	0.000
		Conveyance	0.050	0.039	0.146	0.014
		Other Expenses	0.994	0.953	0.977	0.575
		TOTAL	10.556	8.872	6.061	1.391
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.666	0.407	0.014	0.247
Less/ Add	DEPRECIATION/ AMORTISATION		0.004	0.005	0.006	0.000
	PROFIT BEFORE TAX		0.662	0.402	0.008	0.247
Less	TAX		0.000	0.000	0.033	0.000
	PROFIT AFTER TAX		0.662	0.402	[0.025]	0.247

KEY RATIOS

PARTICULARS		31.03.2011 (Provisional)	31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.90	4.33	[0.41]	15.08
Net Profit Margin (PBT/Sales)	(%)	5.91	4.53	0.13	21.06
Return on Total Assets (PBT/Total Assets}	(%)	22.07	23.67	1.44	109.78
Return on Investment (ROI) (PBT/Networth)		0.66	0.73	0.02	0.82
Debt Equity Ratio (Total Liability/Networth)		2.08	2.22	0.93	0.03
Current Ratio (Current Asset/Current Liability)		2.62	1.36	1.82	22.50

LOCAL AGENCY FURTHER INFORMATION

BRIEF RESUME

INTRODUCTION AND OWNERSHIP:

The firm, a manufacturing unit of iron and steel products started on March 2007 as Proprietor firm of Mr. Mohan Pandey. He has experience in different field fro 5 years. In his firm 16 people are working both skilled and unskilled. The firm has also maintained a steady growth rate over the years. The firm has not availed any credit facility so far from any bank or financial institution and now it requires working capital facility from the bank to be utilized for their present and future expansion.

PAST PERFORMANCE

The proprietor of the company Mr. Jag Mohan Pandey is associated with the day to day working and is looking after the complete production and has specialization in the Manufacturing of iron and steel product and can be judged form the continuous increase in turnover of company for the last three years is as under:-

(Rs. in Millions)

Year Ending	Sales	Total
31.03.2008	1.173	1.173
31.03.2009	6.007	6.007
31.03.2010	8.880	8.880

FUTURE PLANNING AND PROSPECTS:

At the starting the firm is doing Manufacturing of iron and steel product and now have started manufacturing of different product also. The firm has already achieved sale of Wire Rs. 10.200 Millions during the current year till 28 February 2011 and are confident to achieve the targets fixed.

FACILITIES REQUIRED

In view of the above and having regard to the business requirement of the firm, the proposed limit are suggested as under:-

Nature of Facility	Existing Limit	Proposed Limit	Securities
Cash Credit	Nil	Rs. 30.000 Millions	Against hypothecation of book debts and stocks.

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF TAXABLE INCOME

ASSESSMENT YEAR 2010-11

(Rs. in Millions)

Particulars	Amount	Amount	Amount
From Business or profession other than speculative business
Profit before tax as per profit and loss account	0.402	0.402	0.402
INCOME FROM OTHER SOURCES
Interest
Other Interest	0.002
Total Income from other sources			0.002
Gross Total Income			0.404
Less: Deduction Under Chapter VI A
Section 80C		0.066
Section 80D		0.005
Section 80GG		0.024
Total Deduction			0.095
Taxable Income			0.309
Income Tax			0.016
Normal Tax			0.016
Special Tax			0.000
Income Tax Payable			0.016
Surcharge			0.000
Education Cess			0.000
Tax including surcharge and educational cess			0.016
Add: Interest under section 234A/ 234B/ 234C
Interest under section 234A		0.000
Interest under section 234B		0.001
Interest under section 234C		0.001	0.002
Less: Prepaid Tax
Self Assessment tax
HDFC Bank 27.09.2010	0.016	0.016
TDS		0.002	0.018
Tax Payable /Refund			0.000

---------------------------------------------------------------------------------------------------------------------------

BALANCE SHEET

(Rs.in Millions)

SOURCES OF FUNDS		31.03.2012 (Provisional)	31.03.2013 (Provisional)
SHAREHOLDERS FUNDS
1] Share Capital		1.488	2.490
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.488	2.490
LOAN FUNDS
1] Secured Loans		3.000	3.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		3.000	3.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.488	5.490
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.318	0.270
Capital work-in-progress		0.000	0.000
INVESTMENT		0.085	0.085
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.700	2.000
	Sundry Debtors	3.200	4.000
	Cash & Bank Balances	0.053	0.060
	Other Current Assets	0.002	0.003
	Loans & Advances	0.490	0.038
Total Current Assets		5.445	6.101
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.400	0.500
	Other Current Liabilities	0.960	0.466
	Provisions
Total Current Liabilities		1.360	0.966
Net Current Assets		4.085	5.135
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4.488	5.490

PROFIT & LOSS ACCOUNT

(Rs. In Millions)

	PARTICULARS		31.03.2012 (Provisional)	31.03.2013 (Provisional)
	SALES
		Income	15.000	20.000
		Other Income	0.030	0.030
		TOTAL	15.030	20.030
Less	EXPENSES
		Cost of Goods Sold	11.650	15.700
		Accounting Charges	0.065	0.090
		Audit Fees	0.025	0.030
		Bank Charges	0.020	0.025
		Conveyance	0.065	0.090
		Salary	0.240	0.300
		Other Expenses	1.921	2.435
		TOTAL	13.986	18.670
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.044	1.360
Less/ Add	DEPRECIATION/ AMORTISATION		0.056	0.048
	PROFIT BEFORE TAX		0.988	1.312

ASSESSMENT OF WORKING CAPITAL REQUIREMENT

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
1. Gross Sales – (i) Domestic Sales	11.200	15.000	20.000
(ii) Export Sales	--	--	--
(iii) Other Income	--	--	--
Add other revenue income	--	--	--
Total	11.200	15.000	20.000
2. Less Excise Duty	--	--	--
Deduct Other Items	--	--	--
3. Net Sales (Item 1 – Item 2)	11.200	15.000	20.000
4. % age rise (+) or fall (-) in net sales as compared to previous year (annualized)	25.98%	33.93%	0.33%
5. Cost of Sales
i) Raw Materials (including stores and spares and other items used in the process of manufacture	9.600	12.500	16.200
a) Imported	--	--	--
b) Indigenous	9.600	12.500	16.200
ii) Other Spares	--	--	--
a) Imported	--	--	--
b) Indigenous	--	--	--
iii) Power and Fuel	0.085	0.150	0.160
iv) Direct Labour (Factory wages and salary)	0.740	0.890	1.100
v) Other Manufacturing Expenses	0.080	0.136	0.200
vi) Depreciation	0.004	0.056	0.048
vii) SUB- TOTAL (i to vi)	10.509	13.732	17.708
viii) Add Opening stock in process	0.501	0.950	1.700
Sub- Total	11.010	14.682	19.408
ix) Deduct Closing stocks in process	0.950	1.700	2.000
x) Cost of Production	10.060	12.982	17.408
xi) Add: Opening stock of finished goods	--	--	--
Sub- Total	10.060	12.982	17.408
xii) Deduct Closing Stock of finished goods	--	--	--
XIII) SUB- TOTAL (TOTAL COST OF SALES)	10.060	12.982	17.408
GROSS PROFIT	1.140	2.018	2.592
6. Selling, General and Administrative Expenses	0.500	0.700	0.950
7. SUB- TOTAL (5+6)	10.560	13.682	18.358
8. Operating profit before interest (3-7)	0.640	1.318	1.642
9. Interest	--	0.360	0.360
10. Operating Profit after Interest (8-9)	0.640	0.958	1.282
11 i) Add other non-operating income
a) Interest, Discount Received	--	--	--
b) Miscellaneous Income	0.022	0.030	0.030
c) Income from Sale of Dolochar	--	--	--
d) Previous year Adjustments	--	--	--
Sub- Total (Income)	0.022	0.030	0.030
ii) Deduct other non-operating expenses	--	--	--
a) Amount Written off	--	--	--
b) Other Miscellaneous Expenses
c) Loss of sale of assets
Sub Total (Expenses)	--	--	--
iii) Net of other non-operating income/ expenses	0.022	0.030	0.030
12. Profit before Tax/ Loss (10+11(iii))	0.662	0.988	1.312
13. Provision for taxes	--	--	--
14. Net Profit/ Loss ( 12-13)	0.662	0.988	1.312
15. a) Equity dividend – Amount (Already Paid + B.s. Provision)	--	--	--
b) Dividend Rate	0%	0%	0%
16. Retained Profit (14-15)	0.662	0.988	1.312
17. Retained Profit/ Net Profit (% age)	100%	100%	100%

ANALYSIS OF BALANCE SHEET

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
CURRENT LIABILITIES
1. Short-term borrowings form banks (including bills purchased discounted and excess borrowings placed on repayment basis)
i) From applicant bank CCSDL	0.950	3.000	3.000
ii) From Applicant Bank CC	--	--	--
iii) of which BP and BD	--	--	--
Sub Total (A)	0.950	3.000	3.000
2. Short term borrowings from others	--	--	--
3. Sundry Creditors (Trade)	0.850	0.400	0.500
4. Advance payment form customers / Depreciation dealers	--	--	--
5. Provision for taxation	0.054	0.110	0.136
6. Creditors for capital goods	--	--	--
7. Other statutory liabilities (due within one year)	0.100	0.150	0.170
8. Deposits/ Installments of term loans/ DPGs/ Debentures etc. (Due within one year)	--	--	--
9. Other Current Liabilities and provisions (due in 1 year) (specify major items)	0.130	0.150	0.160
a. Creditors for services and expenses	0.130	0.150	0.160
b. Other current liabilities and provisions	--	--	--
c. Other current liabilities (Cheq issue but not presented)	--	--	--
Other Current Liabilities (Sub- Total B)	1.134	0.810	0.966
10. Total Current Liabilities (Total of 1 to 9 excluding 1(iii))	2.084	3.810	3.966
TERM LIABILITIES
11. Debentures (not maturing within 1 year)	--	--	0.000
12. Preference Shares (Redeemable after 1 year)	--	--	0.000
13. Term Loans (excluding installments payable within 1 year)	--	--	0.000
14. Deferre4d payment credit excluding installment due within 1 year)	--	--	0.000
15. Unsecured Loans (repayable after 1 year)	--	--	0.000
16. Other term liabilities/ (Advance from customers)	--	0.550	0.000
17. TOTAL TERM LIABILITIES	--	0.550	0.000
17a) Inter unit balance	--	--	0.000
18. TOTAL OUTSIDE LIABILITIES (ITEM 10 +17)	2.084	4.360	3.966
NET WORTH
19. Ordinary Share Capital	1.000	1.488	2.490
20. General Reserve	--	--	--
21. Deposit from Directors and Shareholders	--	--	--
22. Other Reserves (excluding provisions)	--	--	--
23. Surplus (+) or deficit (-) in P and L Account	--	--	--
23 (a) Others- Share Premium	--	--	--
23(b) Investment Allowance Reserve	--	--	--
24. NET WORTH	1.000	1.488	2.490
25. TOTAL LIABILITIES	3.084	5.848	6.456
26. Cash and bank balance	0.250	0.053	0.060
27. Investments (other than long term investments)
i) Fixed Deposits (LC, BG, Margin)	--	--	--
ii) Other Fixed Deposits with bank	--	--	--
28 i) Receivables other than deferred and export (including bills purchased and discounted by banks)	1.750	3.200	4.000
ii) Export receivables (Including bills purchased and discounted by banks)	--	--	--
29. Installments of deferred receivables (due within 1 year)	0.950	1.700	2.000
30. Inventory
i) Raw Material (including stores and other items used in the process of manufacture)
a) Imported	--	--	--
b) Indigenous	--	--	--
ii) Stocks in process	0.950	1.700	2.000
iii) Finished Goods	--	--	--
Iv) Other Consumables Spares
a) Imported	--	--	--
b) Indigenous	--	--	--
31. Advances to suppliers of raw materials	--	0.465	--
32. Advance payment of taxes	--	--	--
33. Other Current Assets	0.025	0.027	0.041
- Deposits	0.003	0.002	0.003
- Others	0.022	0.025	0.038
34. TOTAL CURRENT ASSETS (Total of 26 to 33)	2.975	5.445	6.101
FIXED ASSETS
35. Gross Block (Land and Building, Machinery, work-in-process)	0.028	0.374	0.318
36. Depreciation to date	0.004	0.056	0.048
37. NET BLOCK (35-36)	0.024	0.318	0.270
OTHER NON- CURRENT ASSETS
38. Investment / book debts/ advances/ deposits which are not current assets	0.085	0.085	0.085
i) a) Investments in subsidiary companies/ affiliates	--	--	--
b) Others (amount enmarked for future expansion)	--	--	--
ii) Advances to suppliers of capital goods and contractors	--	--	--
iii) Inter Unit A/C	--	--	--
iv) Others – Debtors > 6 Months	--	--	--
- Security Deposit	--	--	--
- Any other non-current deposits	--	--	--
39. Non- consumable stores and spares	--	--	--
40. Other non-current assets including dues from directors	--	--	--
41. TOTAL OTHER NON –CURRENT ASSETS	0.085	0.085	0.085
42. Intangible assets (patents, goodwill, preliminary expenses, bad/ doubtful expenses not provided for etc.)	--	--	--
43. Total Assets (34+37+41+42)	3.084	5.848	6.456
44. Tangible Net Worth (24-42)	1.000	1.488	2.490
45. Net Working Capital (17+24) – (37+41+42)	0.891	1.635	2.135
46. Current Ratio	1.43	1.43	1.54
47. Total Outside Liabilities/ Tangible net worth	0.208	0.293	0.159
48. Total Term Liabilities/ Tangible Net Worth	--	0.037	0.000

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
1. Raw Materials including stores and other items use din the process of manufacturing
a) Imported – Amount	--	--	0.000
Month’s Consumption	--	--	0.000
b) Indigenous : Amount	--	--	0.000
Month’s Consumption	--	--	0.000
2. Other consumable spars, excluding those included in (1) above)
a) Imported- Amount	--	--	0.000
Month’s consumption	--	--	0.000
b) Indigenous – Amount	--	--	0.000
Month’s Consumption	--	--	0.000
3. Stock in process – Amount	0.950	1.700	2.000
Month’s Consumption	(1.13)	(1.57)	(1.38)
4. Finished Goods – Amount	--	--	0.000
Month’s Consumption	--	--	0.000
5. Receivables other than export and deferred receivables (Including bills purchased and discounted by banks )
Amount	1.750	3.200	4.000
Month’s Domestic Sales (Including deferred payment sales)	[1.88]	[2.56]	[2.40]
6. Export receivables (including bills purchased and discounted)
Amount	0.000	0.000	0.000
Month’s Export Sales	--	--	--
7. Advance to supplier of materials and stores/ spares, consumables	0.000	0.465	0.000
Month’s Consumption	--	(0.45)	0.000
8. Other current assets including cash and bank balances and deferred receivables due within one year (Specify major items)	0.275	0.080	0.101
Cash and Bank Balances	0.250	0.053	0.060
Investment except long-term investment of deferred receivables	0.000	0.000	0.000
Others	0.025	0.027	0.041
9. TOTAL CURRENT ASSETS	2.975	5.445	6.101
CURRENT LIABILITIES (Other than bank borrowings for working capital)
10. Creditors for purchase of raw materials, stores and consumable spares
Amount	0.850	0.400	0.500
Month’s Purchase	(1.06)	(0.38)	(0.37)
11. Advance from customers	--	--	--
12. Statutory liabilities	0.154	0.260	0.306
13. Other current liabilities specify major items	--	--	--
a) S T Borrowing others	--	--	--
b) Dividend payable	--	--	--
c) Installment of TL, DPS and Public Deposits	--	--	--
d) Other current liabilities and provisions	0.130	0.150	0.160
14. TOTAL	1.134	0.810	0.966

COMPUTATION OF ASSESSED BANK FINANCE FOR WORKING CAPITAL

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
ASSESSED BANK FINANCE
1. Total current Assets	2.975	5.445	6.101
2. Other Current Liabilities (other than bank borrowings)	1.13.4	0.810	0.966
3. Working Capital Gap	1.841	4.635	5.135
4. Net Working Capital	0.891	1.635	2.135
5. Assessed Bank Finance	0.950	3.000	3.000
6. NWC to Total Current Assets %	29.95	30.03	34.99
7. Bank Finance to TCA %	31.93	55.10	49.17
8. Sundry Creditors to TCA %	28.57	7.35	8.20
9. Other current Liability to Total Current Assets %	9.55	7.53	7.64
10. Inventory to Net Sales (Days)	31	41	36.50
11. Receivables to Gross Sales (Days)	57	78	73.00
12. Statutory Creditors to purchase (Days)	32	11	11.27

FUND FLOW STATEMENTS

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
1. SOURCES
a) Net Profit (after tax)	0.662	0.988	1.312
b) Depreciation	0.004	0.056	0.048
c) Increase in Capital	[0.216	[0.500]	[0.310]
d) Increase in term liabilities including public deposits	0.000	0.000	0.000
e) Decrease in	0.000	0.000	0.000
i) Fixed Assets	0.000	0.000	0.000
ii) Other non-current assets	0.000	0.000	0.000
f) Other	0.000	0.550	0.000
g) TOTAL	0.450	1.094	1.050
2. USES
a) Net Loss	0.000	0.000	0.000
b) Decrease in term liabilities including public deposits	0.000	0.350	0.000
c) Increase in	0.000	0.000	0.000
i) Fixed Assets	0.000	0.000	0.000
ii) Depreciation adjustment	0.000	0.000	0.000
iii) Other non- current assets	0.000	0.000	0.000
d) Dividend payment	0.000	0.000	0.000
e) Others	0.000	0.000	0.550
f) TOTAL	0.000	0.350	0.550
3. Long Term Surplus/ Deficit	0.450	0.744	0.500
4. Increase/ Decrease in current assets (as per details given below)	1.304	2.470	0.656
5. Increase/ Decrease in current Liabilities other than bank borrowings	[0.096]	[0.324’	0.156
6. Increase/ Decrease in working capital gap	1.400	2.794	0.500
7. Net Surplus (+)/ Deficit	[0.950]	[2.050]	0.000
8. Increase/ Decrease in bank borrowings	0.950	2.050	0.000
INCREASE / DECREASE IN NET SALES	2.310	3.800	5.000
Breakup of 4
i) Increase/ Decrease in Raw materials	--	--	--
ii) Increase/ Decrease in Stock in process	0.449	0.750	0.300
iii) Increase/ Decrease in Finished Goods	--	--	--
iv) Increase/ Decrease in Receivables	0.992	1.450	0.800
a) Domestic	--	--	--
b) Export	--	--	--
v) Increase/ Decrease in Stores and spares	--	--	--
vi) Increase/ Decrease in other current assets	[0.137]	0.270	[0.444]
	1.304	2.470	0.656

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
1. Net Sales	11.200	15.000	20.000
1a. Operating Profit	0.640	1.318	1.642
2. Profit Before Tax	0.662	0.988	1.312
2a. PBT/ NET SALES (%)	5.91	6.59	6.56
3. Profit After Tax	0.662	0.988	1.312
4. Paid up Capital	1.000	1.488	2.490
4a. Cash Accruals	0.666	1.044	1.360
5. Tangible Net Worth	1.000	1.488	2.490
6. Total outside Liability	2.084	4.360	3.966
7. TOL/ TNW	2.08	2.93	1.59
7a. Adjusted TNW	1.000	1.488	2.490
7b. TOL/ Adjusted TNW	2.08	2.93	1.59
8. Total Current Assets	29.75	54.45	61.01
8a. Total Tangible Assets	30.84	58.48	64.56
9. PBT/ TTA (%)	21.47%	16.89%	20.32%
10. Operating Expenses	10.560	13.682	18.358
11. Operating Expenses/ Net Sales (%)	94.29%	91.21%	91.79%
12. Cost of Sales/ Net Sales (%)	89.82%	86.55%	87.04%
13. Depreciation	0.004	0.056	0.048
14. Interest	0.000	0.360	0.360
15. Net Working Capital	0.891	1.635	2.135
17. Inventory + Receivables	2.700	4.900	6.000
18. Assessed Bank Finance	0.950	3.000	3.000
19. PBDIT	0.666	1.404	1.720
20. PBDIT/ Interest	--	3.90	4.78
21. PBDIT/ TTA	21.60	24.01	26.64
22. Purchases	9.600	12.500	16.200
23. Sundry Creditors	0.850	0.400	0.500
24. TOL/ TNW	2.08	2.93	1.59
25. CA/ CL	1.43	1.43	1.54
26. Bank Finance/ TCA (%)	31.93	55.10	49.17
27. Gross Sales/ Total Current Assets	3.76	2.75	3.28
28. Operating Profit/ Net Sales (%)	5.71	8.79	8.21
29. Operating Profit / TTA (%)	20.75	22.54	25.43
30. Operating Profit/ TNW (%)	64.00	88.58	65.93
31. Operating Profit/ Gross Fixed Assets (%)	2285.71	352.41	516.26

EFFICIENCY RATIOS

(Rs. in Millions)

Particulars	31.03.2011 Provisional	31.03.2012 Following Year Projected	31.03.2013 Following Year Projected
1. Net Sales to TTA (Times)	0.363	0.256	0.310
2. PBT to TTA (%)	21.47%	16.89%	20.32%
3. Operating costs to Sales (%)	94.29%	91.21%	91.79%
4. Bank finance to TCA (%)	31.93%	55.10%	49.17%
5. Inventory + Receivables to net sale	88	119	110
A. Assessed Bank Finance	0.950	3.000	3.000
B. CA/ CL	1.43	1.43	1.54
C. TOL/ TNW	2.08	2.93	1.59
D. PBDIT/ Interest	--	3.90	4.78
E. Net Profit/ Net Sales (%)	5.91	6.59	6.56
F. (PBDIT/ TTA ) ROCE	21.60	24.01	26.64
G. (Inventory + Receivables) / Net Sales	88	119	110
H. PBDIT/ Net Sales	5.95	9.36	8.60

MONTHS SALES AND PURCHASE

Months	Purchase	Sales	Debtors	Creditors
			(Round off in hundred)
April 10	210473.00	507524.00	788800.00	444100.00
May 10	727036.00	1603265.00	1355300.00	676300.00
June 10	581952.00	1307552.00	1898000.00	359500.00
July 10	1465758.00	424068.00	714000.00	569600.00
August 10	877084.00	1686253.00	1862100.00	873900.00
September 10	975535.00	350835.00	1288800.00	1170000.00
October 10	855172.00	1422600.00	2383700.00	1614900.00
November 10	695188.00	228093.00	1720000.00	1653500.00
December 10	717433.00	687141.00	1732500.00	2050900.00
January 10	567107.00	947376.00	17410100.00	1564300.00
February 10	630013.00	102079.00	1253000.00	1043700.00
March -11	1250000.00	1000000.00	1750000.00	850000.00
Total	9552751.00	11185506.00

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STATEMENT SHOWING ASSETS AND LIABILITIES

MR. JAG MOHAN PANDEY

(PROPRIETOR)

IMMOVABLE PROPERTIES

APPLICANT

Address of the property with Survey No./ Door No. etc.

Plot No. 136, Sangam Vihar, Phase-1

Description: Land/ Site/ Building

Site

Whether freehold/ leasehold

Freehold

Type of Property: Commercial/ Residential/ Agricultural

Residential

Area/ Extent of Land

85 sq. yards

PRESENT MARKET/ ASSESS VALUE

RS. 1.250 MILLIONS

INVESTMENT IN BUSINESS CAPITAL

Name of the company/ firm/ concern in which investment is made

Jai Durga Hitech Enterprises

Date of Investment

March 2007

PRESENT VALUE OF INVESTMENT (As on 31.03.2010)

RS. 0.554 MILLION

LIFE INSURANCE POLICIES

	Applicant
Policy No.	115403782	115078543
Date of Policy	28.05.2007	28.04.2004
Type of Policy endowment/ whole life etc	Endowment	Endowment
Annual Premium	Rs. 0.021 Million	Rs. 0.007 Million
Sum assured	Rs. 0.300 Million	0.100 Million
SURRENDER VALUE	RS. 0.155 MILLIONS

VEHICLES OWNED

Model/ Make

Motor Cycle

Date of Purchase

2009

PRESENT MARKET VALUE

RS. 0.025 MILLION

NET WORTH

RS. 1.984 MILLIONS

------------------------------------------------------------------------------------------------------------------------------

Trade References:

· Hindalco Industries Limited

· Nitin Wire and Meshas

· A.P. Enterprises

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.44.45
UK Pound	1	Rs.73.35
Euro	1	Rs.64.78

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.