MIRA INFORM REPORT

Report Date :

04.08.2011

IDENTIFICATION DETAILS

Name :	KLA CONST. TECHNOLOGIES PRIVATE LIMITED
Formerly Known As :	KLA CONST. CHEMICALS PRIVATE LIMITED
Registered Office :	218-A, Humayunpur Safdarjung Enclave, New Delhi - 110 029, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	10.04.2000
Com. Reg. No.:	55-105145
Capital Investment / Paid-up Capital :	Rs.8.135 millions
CIN No.: [Company Identification No.]	U45200DL2000PTC105145
TAN No.: [Tax Deduction & Collection Account No.]	DELK03953F
PAN No.: [Permanent Account No.]	AABCK7986P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of Water Proofing and Insulation, Structural Repairs, Anchor Fixing Systems.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 190000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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.

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 :	218-A, Humayunpur Safdarjung Enclave, New Delhi - 110 029, Delhi, India
Tel. No.:	91-11-26160466 / 26160717
Fax No.:	91-11-26199866
E-Mail :	jarnailsingh@airtelmail.in info@klaworls.com kla@klaworld.com
Website :	http://klaworld.com/

DIRECTORS

As on 30.09.2010

Name :	Mr. Ashok Kumar
Designation :	Director
Address :	H-6, Hauz Khas, New Delhi – 110 016, Delhi, India
Date of Birth/Age :	20.01.1950
Date of Appointment :	10.04.2000
DIN No. :	00746286
Name :	Mr. Anurag Bindal
Designation :	Director
Address :	H-6, Hauz Khas, New Delhi – 110 016, Delhi, India
Date of Birth/Age :	03.02.1977
Date of Appointment :	10.04.2000
DIN No. :	00746176
Name :	Mrs. Shubhi Bindal
Designation :	Director
Address :	H-6, Hauz Khas, New Delhi – 110 016, Delhi, India
Date of Birth/Age :	09.04.1977
Date of Appointment :	01.12.2004
DIN No. :	00746114
Name :	Mrs. Rashi Bindal
Designation :	Director
Address :	H-6, Hauz Khas, New Delhi – 110 016, Delhi, India
Date of Birth/Age :	03.10.1981
Date of Appointment :	01.05.2001
Date of Ceasing :	20.11.2009
DIN No. :	00920891

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Anurag Bindal	127600
Shubhi Bindal	90000
Rashi Bindal	196500
Bimla Garg	11000
Sushma Gupta	66800
Ashok Kumar Garg	30000
Nidhi Gupta	5000
Mahavir Prasad Gupta	25000
Raj Gupta	10000
Chandra Mohan	100
Nemi Chand Garg	10000
Ashok Kumar	241500
Total	813500

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	91.87
Other top fifty shareholders	8.13
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers and Exporters of Water Proofing and Insulation, Structural Repairs, Anchor Fixing Systems.

GENERAL INFORMATION

Suppliers :

· Acme Safety Wears Limited

· Advance Impex Private Limited

· Apurva India Limited

· Aries Interlink System Private Limited

· Ashraya Industries

· Asian Steel Traders

· Berger Paints India Limited

· Delhi Bitumen Sales

· Haryana Transport Company

Customers :

· Ahluwalia Contracts (India) Limited

· Akbar International

· Bagai Construction

· Triath Ram Ahuja Private Limited

· DLF Infocity Dev. (Kolkata) Limited

· India Glycols Limited

· Khanna Paper Mills Limited

· M S Chhabra and Company

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India

· Punjab and Sind Bank

Safdurjung Enclave, New Delhi, India

· ABN Amro Bank

· Barclays Bank

· HDFC Bank

· Kotak Mahindra Bank Limited

· Standard Chartered Bank

Facilities :

Secured Loans	As on 31.03.2010 Rs. In millions	As on 31.03.2009 Rs. In millions
Bank O/D
ICICI Bank Limited ODFD (CA 11455)	4.276	0.000
Punjab and Sind Bank ODFD (CA 31913)	0.516	0.000
Other Loans
ABN Amro Bank – B. Loan	2.873	0.000
Axis Bank Limited – Car Loan	0.488	0.000
Bajaj Auto Finance	2.387	0.000
Barclays Bank loan	3.394	2.916
HDFC Bank - B. Loan	2.894	0.000
ICICI Bank Limited JCB Loan	1.556	0.000
ICICI Bank Limited Machine Loan	0.549	1.590
India Bulls	3.255	0.000
Intec Capital Limited – Loan	18.881	0.000
Kotak Mahindra Bank Limited - (B. Loan)	1.776	0.000
Megma Finance Limited - B. Loan	2.329	0.000
Religare Finvest Limited	3.352	0.000
Standard Chartered Bank (B. Loan)	2.780	0.000
Tata Finance	2.395	0.000
Total	53.701	4.506

Banking Relations :	--
Financial Institution :	3i Infotech Trusteeship Services Limited · 3^rd to 6^th Floor, International Infotech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai – 400 703, Maharashtra, India · 36, Rani Jhansi Road, Ram Kumar Marg (Opp. Jhandewalan Mandir), New Delhi – 110 055, Delhi, India
Auditors :
Name :	Sinha Gupta and Associates Chartered Accountant
Address :	Flat No – 1, Pocket – 1, Sector – 14, Dwarka, New Delhi – 110 078, Delhi, India
Tel. No.:	91-11-28031890 / 45150337

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
813500	Equity Shares	Rs.10/- each	Rs.8.135 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		8.135	1.968	1.968
2] Share Application Money		3.715	6.167	6.770
3] Reserves & Surplus		36.665	21.807	11.744
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		48.515	29.942	20.482
LOAN FUNDS
1] Secured Loans		53.701	4.506	3.419
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		53.701	4.506	3.419
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		102.216	34.448	23.901
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.924	11.883	10.786
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.344	0.339	0.050
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.500	3.525	2.451
	Sundry Debtors	83.124	62.594	37.917
	Cash & Bank Balances	14.293	1.733	4.918
	Other Current Assets	0.000	0.000	0.563
	Loans & Advances	46.518	33.604	16.360
Total Current Assets		157.435	101.456	62.209
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	72.860	48.917	41.134
	Other Current Liabilities	16.206	30.325	8.093
	Provisions	0.462	0.061	0.023
Total Current Liabilities		89.528	79.303	49.250
Net Current Assets		67.907	22.153	12.959
MISCELLANEOUS EXPENSES		0.041	0.073	0.106
TOTAL		102.216	34.448	23.901

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Gross Revenue	556.153	443.511	257.809
		Closing Stock	13.500	3.525
		Other Income	2.884	1.339
		TOTAL (A)	572.537	448.375	257.809
Less	EXPENSES
		Opening Stock	3.525	2.451
		Administrative and Other Expenses	64.204	54.249
		Direct Expenses	482.240	376.452
		TOTAL (B)	549.969	433.152	247.125
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		22.568	15.223	(Including Financial Charges and Depreciation)
Less	FINANCIAL CHARGES (D)		0.032	0.032
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.536	15.191
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000
	PROFIT BEFORE TAX (E-F) (G)		22.536	15.191	10.684
Less	TAX (H)		7.683	5.466	3.866
	PROFIT AFTER TAX (G-H) (I)		14.853	9.725	6.818
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		21.468	11.743	NA
	BALANCE CARRIED TO THE B/S		36.321	21.468	NA
	Earnings Per Share (Rs.)		18.26	--	3.46

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.59	2.17	2.64
Net Profit Margin (PBT/Sales)	(%)	4.05	3.43	NA
Return on Total Assets (PBT/Total Assets}	(%)	11.78	13.40	14.64
Return on Investment (ROI) (PBT/Networth)		0.46	0.51	0.52
Debt Equity Ratio (Total Liability/Networth)		2.95	2.80	2.57
Current Ratio (Current Asset/Current Liability)		1.76	1.28	1.26

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U45200DL2000PTC105145
Name of the company	KLA CONST.TECHNOLOGIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	218-A, Humayunpur Safdarjung Enclave, New Delhi - 110 029, Delhi, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10239987
Type of charge	Book debts Movable property (not being pledge) Others Current Assets
Particular of charge holder	ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	07.07.2011
Amount secured by the charge	Rs.177.500 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit: 3.5% per annum above the sum of I-Base plus applicable interest tax or other statutory levy, if any, BG: Commission: 0.30% p.a. Handling charges: 0.70% p.a. LC Comm: 1% p.a Terms of Repayment On Demand / due dates Margin Cash credit : Uniform margin of 25% against all components of inventory and book debts (cover period for book debts 120 days) Cash margin on BG: Guarantees covering disputed liabilities - 100% Financial guarantees - 10.0% Performance guarantees - 10.0% Cash margin on LC: 10% Extent and Operation of the charge · Exclusive charge on entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean, outstanding monies, receivables, both present and future · Exclusive charge on all movable fixed assets, both present and future (except those financed by other financial institution) Others The above is to secure the Cash Credit facility of Rs.57.50 million, Bank guarantee of Rs.120 million and Letter of credit (sub limit of BG) Rs.25 million
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book-debts, bills, outstanding monies, receivables, both present and future Exclusive charge on all movable fixed assets, both present and future (except those financed by other financial institution)
Particulars of the present modification	The working capital limit enhanced from Rs.111 million to Rs.177.50 million, comprised of Cash credit of Rs.57.50 million, Bank guarantee of Rs.120 million and Letter of credit (sub limit of BG) Rs.25 million

FIXED ASSETS

· Computer

· Motor Car

· Office Equipment

· Tools and Equipment

· Furniture and Fixtures

· Electrical Equipments

· Generator

· JCB Machine

WEB DETAILS

Subject is a well established company, experiencing significant growth with a promising future. The key to this success is the employees. They value the diversity of the people. They look for individuals who will bring idea and initiative to contribute to the growth of the company. And to ensure continual and successful enrichment of the talent pool, it is important to be led by the best and the directors believe the same. The directors on the company board are veterans in the industry who have the experience and the vision to lead the organization

Mr. Ashok Kumar

Mr. Kumar is the founder and Managing director of KLA Group. He is a graduate in Commerce and possesses extremely rich experience and expertise in business management and thus has been influential in elevating KLA group to its present status. He has considerable experience in corporate affairs and allied legal and taxation matters. Under his able guidance the group has achieved its present position and is growing.

Mr. Anurag Bindal

Mr. Anurag Bindal is the Director and head of Sales and Marketing arm of the Group. He is responsible for growth and strategic planning for the entire Group. A science graduate with post graduation degree in business management, Mr. Bindal has been instrumental in bringing about technological and managerial excellence in the Company's operations.

Mrs. Shubhi Bindal

Mrs. Shubhi was appointed the Director in 2003 and since then she has been a pioneer in enhancement of company’s human resource acquisition and development. Along with managing the Head human resources portfolio for the group, she also handles the administration. Her specialization is in Business Studies and masters in International business have helped the organization to adopt the best industry practices. She has been instrumental in getting the organization the OHSAS and ISO certifications.

Mrs. Rashi Jaipuriyar

Mrs. Rashi Jaipuriyar has been with the KLA family for now more than a decade. After completing a course in Mechanical Engineering, she joined Polaris, as a senior functional consultant. She has a MBA degree with majors in marketing from IIT kharagpur. In recent past, she was working handling marketing portfolio for Vodafone, Karnataka. She brings with her rich experience of more than 15 years and is pivotal in KLA growing strength and successful expansion in related line of business.

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.44.38
UK Pound	1	Rs.72.21
Euro	1	Rs.62.87

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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	-

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.