MIRA INFORM REPORT

Report Date :

07.12.2011

IDENTIFICATION DETAILS

Name :	ROHIT INDUSTRIES GROUP PRIVATE LIMITED
Registered Office :	U.G. No.10, Shivlok House No.2, Karampura Commercial Complex, New Delhi – 110 015
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.12.1963
Com. Reg. No.:	55-005081
Capital Investment / Paid-up Capital :	Rs. 1.809 Millions
CIN No.: [Company Identification No.]	U74899DL1963PTC005081
IEC No.:	0596046413
TAN No.: [Tax Deduction & Collection Account No.]	DELR09377E
PAN No.: [Permanent Account No.]	AAACR1567J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Cutting Tools.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 21000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Anshiman
Designation :	Director
Contact No.:	91-9899700158
Date :	05.12.2011

LOCATIONS

Registered Office :	U.G. No.10, Shivlok House No.2, Karampura Commercial Complex, New Delhi – 110 015, India
Tel. No.:	91-11-25920492 / 41427321 / 41021800 / 25431800 / 25429804
Mobile No.:	91-9899700158 (Mr. Anshiman)
Fax No.:	91-11-25920493 / 25431800
E-Mail :	aditya@rigpl.com anshuman.duggal@gmail.com rohit.tool@gmail.com anuj@rigpl.com goyalvinodkumar@gmail.com sales@rigpl.com
Area :	100 sq. mt.
Location :	Owned
Factory :	Plot No.655/ 656, MIE (Modern Industrial Estate) No.2, Bahadurgarh, Haryana – 124 507, India
Area :	1200 sq yards
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Aditya Duggal
Designation :	Additional Director
Date of Birth/Age :	15.05.1981
Date of Appointment :	01.05.2010
DIN No.:	00779915

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28939DL2005PTC143853	FORAS TOOLS AND SERVICES PRIVATE LIMITED	Director	20-12-05	20-12-05	Active	NO
2	U74899DL1963PTC005081	ROHIT INDUSTRIES GROUP PRIVATE LIMITED	Additional director	01-05-10	01-05-10	Active	NO

Name :	Mr. Rohit Duggal
Designation :	Whole Time Director
Address :	A-6/30, Paschim Vihar, New Delhi -110 063, India
Date of Birth/Age :	20.12.1952
Date of Appointment :	27.07.1972
Election ID No.:	DL/03/016/231646
DIN No.:	00885629
Name :	Mr. Rahul Duggal
Designation :	Whole Time Director
Address :	1/33, Sunder Vihar, New Delhi -110 087, India
Date of Birth/Age :	09.02.1954
Date of Appointment :	27.07.1972
Election ID No.:	DL/03/025/030233
DIN No.:	00885650
Name :	Mr. Keshav Lal Duggal
Designation :	Chairman Cum Managing Director
Address :	1/33, Sunder Vihar, New Delhi -110 087, India
Date of Birth/Age :	20.11.1923
Date of Appointment :	28.12.1963
Election ID No.:	DL/03/25/030259
DIN No.:	02397352
Name :	Mr. Anshuman Duggal
Designation :	Additional Director
Date of Birth/Age :	03.06.1977
Date of Appointment :	01.05.2010
Election ID No.:	DL/ACB/0102392
DIN No.:	00885773

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28939DL2005PTC143853	FORAS TOOLS AND SERVICES PRIVATE LIMITED	Director	20-12-05	20-12-05	Active	NO
2	U74899DL1963PTC005081	ROHIT INDUSTRIES GROUP PRIVATE LIMITED	Additional director	01-05-10	01-05-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Sudesh Duggal	910
Keshav Lal Duggal	1000
Sudesh Duggal Jointly with Keshav Lal Duggal	1100
Rohit Duggal	450
Avinash Chandra Abrol	21
Rahul Duggal	103
Ruhi Wahi	40
Anjana Duggal Jointly With Rahul Duggal	1870
Vimal Duggal Jointly With Rohit Duggal	1083
Rahul Duggal Jointly With Rohit Duggal	340
Rohit Duggal Jointly With Vimal Duggal	3770
Rahul Duggal Jointly With Anjana Duggal	2747
Keshav Lal Duggal Jointly With Sudesh Duggal	3900
Ansuman Duggal	450
Aditya Duggal Jointly With Anjana Duggal	21
Anuj Duggal Jointly With Vimal Duggal	85
Abhinav Duggal Jointly With Anjana Duggal	200
Total	18090

AS ON 30.09.2011

Equity Shares Break Up	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Cutting Tools.
Products :	Tool Bits Solid Carbide End Mills HSS Tool Bits Solid Carbide Drills HSS Drill Blanks Turning Tools HSS Punches Step, Square, Double Step Punch, Hexagonal Ejector Pins Solid Carbide Router Bit Solid Carbide End mill Ball Nose Series
Exports :
Products :	Cutting Tools
Countries :	· Malaysia · Europe
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Suppliers :

· S. S. Enterprises

· Aggarwal and Company

· Alka Engeering Works

· Camfast Abrasives Engineers

· Hrithik Tools Private Limited

· PKG Enterprises

· TCI Fright

· The Unique Printer

· Stores Supply (Inida) Agency

· Indo Abrasives

· Alka Engeering Works (Delhi)

· Foras Tools and Services (Private) Limited

· J M D Trader

· Super Adrasive Tooling’s

Customers :

· BCL Forging Limited

· ACME Imtrex Private Limited

· Advance Foregings Private Limited

· BHEL

· Deep Hyndai

· Frick India Limited

· Gupta Brothers

· Jain Tools and Dies Limited

· Kalpana Trading

· Kamal Enterprises

· Diksha Spring Udyog

· M K Tools

· Shivam Spring Private Limited

· S P Traders

· Silkaans Mumbai

· Vulcan Col Form private Limited

No. of Employees :

30 (Approximately)

Bankers :

· ICICI Bank

· Citi Bank

· Standard Chartered Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
ICICI Bank SX4 Car loan	0.000	0.123
ICICI Bank Varna Car Loan	0.000	0.128
Citi Bank A/c	0.000	0.417
City Bank Loan	0.000	1.551
Standard Chartered Bank O/D	6.557	0.000
Total	6.557	2.219
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Shareholders / Directors and Relatives	20.210	14.463
Total	20.210	14.463

Banking Relations :	--
Auditors :
Name :	Bahil Associates Chartered Accountant
Address :	G 61, Connaught Circus, New Delhi – 110 001, India
Tel. No.:	91-11-23328276 / 47340709
E-Mail :	cabahlassociates@yahoo.com
Pan No.:	AAAFB6818R

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18090	Equity Shares	Rs.100/- each	Rs. 1.809 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.809	1.809	1.809
2] Share Application Money		0.681	0.681	0.000
3] Reserves & Surplus		2.822	1.808	1.462
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5.312	4.298	3.271
LOAN FUNDS
1] Secured Loans		6.557	2.219	3.913
2] Unsecured Loans		20.210	14.463	9.880
TOTAL BORROWING		26.767	16.682	13.793
DEFERRED TAX LIABILITIES		0.085	0.000	0.000
TOTAL		32.164	20.980	17.064
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.048	9.861	10.365
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.002
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.705	10.846	5.208
	Sundry Debtors	8.018	3.148	2.656
	Cash & Bank Balances	1.999	0.214	0.055
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.704	1.681	1.412
Total Current Assets		22.426	15.889	9.331
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.347	3.709	2.055
	Other Current Liabilities	1.603	0.861	0.432
	Provisions	0.360	0.200	0.147
Total Current Liabilities		7.310	4.770	2.634
Net Current Assets		15.116	11.119	6.697
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		32.164	20.980	17.064

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	39.126	18.863	18.251
		Other Income
		TOTAL	39.126	18.863	18.251
Less	EXPENSES
		Office Expenses	37.685	18.307	17.985
		Administrative Expenses
		Advertising Expenses
		TOTAL	37.685	18.307	17.985
	PROFIT BEFORE TAX		1.441	0.556	0.266
Less	TAX		0.445	0.200	0.103
	PROFIT AFTER TAX		0.996	0.356	0.163
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1.382	1.557	0.906
	TOTAL EARNINGS		1.382	1.557	0.906
	IMPORTS VALUE		2.507	0.000	0.038
	Earnings Per Share (Rs.)		55.06	19.67	9.01

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.55	1.89	0.89
Return on Total Assets (PBT/Total Assets}	(%)	3.65	2.16	1.15
Return on Investment (ROI) (PBT/Networth)		0.27	0.13	0.08
Debt Equity Ratio (Total Liability/Networth)		6.43	4.99	5.02
Current Ratio (Current Asset/Current Liability)		3.07	3.33	3.54

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constructions of the firm	Yes
4. Premises details	Yes
5. Type of Business	Yes
6. Line of Business	Yes
7. Promoter’s background	------
8. No. of Employees	Yes
9. Name of person contacted	Yes
10. Designation of contact person	Yes
11. Turnover of firm for last three years	No
12. Profitability for last three years	No
13. Reasons for variation <> 20%	No
14. Estimation for coming financial year	No
15. Capital in the business	No
16. Details of sister concerns	No
17. Major suppliers	Yes
18. Major customers	Yes
19. Payments terms	Yes
20. Export / Import details	Yes
21. Market information	------
22. Litigations that the firm / promoter involved	------
23. Banking Details	Yes
24. Banking facility details	No
25. Conduct of the banking account	------
26. Buyer visit details	------
27. Financials, if provided	No
28. Incorporation details, if applicable	------
29. Last accounts filed at ROC	------
30. Major Shareholders, if available	------

FINANCIAL RESULTS:

The Directors had been making great efforts to increase the sales which have almost doubled the previous year. The Directors are pleased to submit the profit for this year Rs. 1.400 Millions.

TRADE REFERENCES:

· BCL Forging Limited

· S. S. Enterprises

FIXED ASSETS:

• Land
• Furniture and Fixtures
• Cycle
• Typewriter
• Cooler
• Refrigerator
• Building
• Machinery
• Air Conditioner
• Office Equipment
• Fax Machine
• Machinery for Pollution Control
• New Cars

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. 51.39
UK Pound	1	Rs. 80.20
Euro	1	Rs. 68.92

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		30

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.