MIRA INFORM REPORT

Report Date :

12.12.2011

IDENTIFICATION DETAILS

Name :	E.S. LIGHTING TECHNOLOGIES PRIVATE LIMITED
Registered Office :	S-511, Greater Kailash – ll, New Delhi – 110048
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	01.06.2005
Com. Reg. No.:	55-137027
Capital Investment / Paid-up Capital :	Rs. 0.407 Million
CIN No.: [Company Identification No.]	U31909DL2005PTC137027
TAN No.: [Tax Deduction & Collection Account No.]	DELE04050E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Lighting Lamp, Lamp Manufacturing Machinery and Equipments.
No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 68000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some dip in the turnover of the company due to global recession. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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 – 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. Lakshmi Sharma
Designation :	General Manager
Contact No.:	91-9818708711
Date :	09.12.2011

LOCATIONS

Registered Office :	S-511, Greater Kailash – ll, New Delhi – 110048
Tel. No.:	91-129-6461240
Mobile No.:	91-9818708711 (Mr. Lakshmi Sharma)
Fax No.:	91-129-4173844
E-Mail :	lakshmi-sharma@yahoo.com csgupta1997@gmail.com
Location :	Rented
Head Office :	20/4, Nepco Bevel Gear Compound, Mathura Road, Faridabad – 121006, Haryana, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Puneet Kumar Bhandari

Designation :

Director

Address :

J-111, Western Avenue, Sainik Farms, New Delhi – 110062, India

Date of Birth/Age :

23.10.1959

Date of Appointment :

16.12.2005

DIN No.:

01211394

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U18101DL1999PTC102136	Lotus Multitrade Private Limited	Director	25-10-99	25-10-99	-	Strike off	NO
2	U31909DL2005PTC137027	E.S. Lighting Technologies Private Limited	Director	16-12-05	16-12-05	-	Active	NO

Name :

Eun Yun Lee

Designation :

Director

Address :

663, Sector 17, Faridabad – 121001, Haryana, India

Date of Appointment :

16.12.2005

DIN No.:

01211578

Name :

Mr. Naresh Kumat Kakkar

Designation :

Director

Address :

215, Sector 16A, Faridabad – 121002, Haryana, India

Date of Birth/Age :

25.03.1967

Date of Appointment :

14.10.2008

DIN No.:

02409955

KEY EXECUTIVES

Name :	Mr. Lakshmi Sharma
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Om Prakash Dhingra	10000
Lee Yun Eun	30700
TOTAL	40700

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Lighting Lamp, Lamp Manufacturing Machinery and Equipments.
Products :	Manufacturing of Plant and Machinery for Lighting Industry
Exports :
Products :	Lighting Lamp
Countries :	Dubai Kuwait Korea
Imports :
Products :	Lighting Lamp Machinery
Countries :	Korea
Terms :
Selling :	L/C, Credit
Purchasing :	L/C, Credit

GENERAL INFORMATION

Customers :	Wholesaler and Retailers Surya Roshni Wipro Havel India Limited
No. of Employees :	35 (Approximately)
Bankers :	HDFC Bank, Delhi, India

Banking Relations :	--
Auditors :
Name :	SKSD and Associates Chartered Accountant
Address :	990, Sector -16, Faridabad – 121005, Haryana, India
Tel. No.:	91-129-2287044
Mobile No.:	91-9810910284
E-Mail :	sanjeevbansal_8@hotmail.com
PAN.:	AHIPB5395A

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40700	Equity Shares	Rs.10/- each	Rs. 0.407 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		0.407	0.407	0.407
2] Share Application Money		0.218	0.218	0.218
3] Reserves & Surplus		16.369	15.527	7.795
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		16.994	16.152	8.420
LOAN FUNDS
1] Secured Loans		0.000	0.040	0.188
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.040	0.188
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		16.994	16.192	8.608
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.616	3.242	3.429
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		5.054	28.210	20.910
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.938	16.234	24.365
	Sundry Debtors	1.930	2.210	1.168
	Cash & Bank Balances	1.048	2.229	4.304
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4.593	7.134	8.237
Total Current Assets		31.509	27.807	38.074
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.545	9.765	19.168
	Other Current Liabilities	13.118	32.412	29.774
	Provisions	2.547	0.922	4.902
Total Current Liabilities		22.210	43.099	53.844
Net Current Assets		9.299	(15.292)	(15.770)
MISCELLANEOUS EXPENSES		0.025	0.032	0.039
TOTAL		16.994	16.192	8.608

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	Turnover		95.177	150.592	191.681
	EXPENSES
		Office Expenses	97.280	143.046	181.815
		Administrative Expenses
		Advertising Expenses
		TOTAL	97.280	143.046	181.815
	PROFIT BEFORE TAX		4.920	7.546	9.866
Less	TAX		1.605	2.367	3.196
	PROFIT AFTER TAX		3.315	5.179	6.670
	Earnings Per Share (Rs.)		81.00	127.00	164.00

Expected Sales (2011-2012) : Rs.90.000 Millions

The above information has been parted by Mr. Lakshmi Sharma (General Manager)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	14.42	24.30	23.77
Return on Investment (ROI) (PBT/Networth)		0.29	0.47	1.17
Debt Equity Ratio (Total Liability/Networth)		1.31	2.67	6.42
Current Ratio (Current Asset/Current Liability)		1.42	0.65	0.71

LOCAL AGENCY FURTHER INFORMATION

Check list by Info Agents	Available in Reports ( Yes/No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitutions of the Firm	Yes
Premises Details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	--
No. of Employees	Yes
Name of person contacted	Yes
Designation of contact person	Yes
Turnover of Firm fort last three years	Yes
Profitability for last three years	No
Reasons For Variation<>20%	No
Estimation for coming financial year	Yes
Capital in Business	No
Details of Sister Concern	No
Major Suppliers	No
Major Customers	Yes
Payment Terms	Yes
Export / Import Details (if Applicable)	Yes
Market Information	--
Litigations that the firm / Promoter involved in	--
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	Yes
Incorporation details, if applicable	--
Last Account filed at ROC	--
Major shareholder , if available	--

TRADE REFERENCES

• Surya Roshni
• Wipro
• Havel India Limited

FIXED ASSETS

• Computer and Printer
• Generator
• Furniture
• Office Equipment
• Fire Extinguisher
• Inventor and Battery
• Machine and Tools
• Plant and Machinery
• Refrigerator
• Telephone
• T.V
• Car
• Electric Fitting

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.52.33
UK Pound	1	Rs.81.55
Euro	1	Rs.69.60

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		44

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.