MIRA INFORM REPORT

Report Date :

14.12.2011

IDENTIFICATION DETAILS

Name :	VIRAL ENTERPRISE PRIVATE LIMITED
Registered Office :	11, Shanti Industrial Estate, S. N. Road, Mulund (West), Mumbai – 400080, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	15.12.1995
Com. Reg. No.:	11-095358
Capital Investment / Paid-up Capital :	Rs.0.460 Millions
CIN No.: [Company Identification No.]	U28996MH1995PTC095358
TAN No.: [Tax Deduction & Collection Account No.]	MUMV05755B
PAN No.: [Permanent Account No.]	AAACV3398P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of Engineering Goods and Spare Parts.
No. of Employees :	40 (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 13000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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.

INFORMATION DECLINED BY

Name :	Mr. Bharat
Designation :	Accounts Manager
Date :	13.12.2011

LOCATIONS

Registered Office :	11, Shanti Industrial Estate, S. N. Road, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-25603250/25834839
Fax No.:	91-22-67987225
E-Mail :	bnscas@gmail.com rachanaindus@sify.com girish.ca@sify.com
Area :	500 sq ft
Location :	Owned
Factory :	Plot No. A 367, Road No.25, Wagle Industrial Estate, Thane – 400607, Maharashtra, India
Tel. No.:	91-22-25834839/ 25820680
Fax No.:	91-22-55987225
Area :	1000 sq ft
Location :	Owned

DIRECTORS

As on 28.09.2010

Name :

Mr. Piyush Manilal Shah

Designation :

Director

Address :

A-3, Indraprasth, Jain Mandir Road, Mulund (West), Mumbai – 400080, Maharashtra, India

Date of Birth/Age :

15.11.1960

Qualification :

B. Com

Date of Appointment :

15.12.1995

DIN No.:

00368629

Other Directorship :

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
U28996MH1995PTC095358	Viral Enterprise Private Limited	Director	15/12/1995	15/12/1995	-	Active	NO
U01409MH2001PTC134156	Viral Agricultural Private Limited	Director	7/12/2001	7/12/2001	-	Active	NO
U24200MH1997PTC109067	Viral Non-Stick Coatings Private Limited	Director	1/12/2005	1/12/2005	-	Active	NO

Name :

Mr. Ashok Shamji Savla

Designation :

Director

Address :

1/6 Pitambar Villa, Kolabad Road, Thane – 400601, Maharashtra, India

Date of Birth/Age :

01.03.1960

Date of Appointment :

15.12.1995

DIN No.:

00384709

Name :

Mr. Indradev Ramkumar Pande

Designation :

Director

Address :

Limna Bhavan, Shanti Nagar, Road No.28, Thane – 400604, Maharashtra, India

Date of Birth/Age :

02.07.1957

Date of Appointment :

15.12.1995

DIN No.:

01276541

KEY EXECUTIVES

Name :	Mr. Bharat
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2010

Names of Shareholders	No. of Shares
Piyush Manilal Shah	37010
Ashok Shamji Savla	4500
Indradev Ramkumar Pande	4500
Viral P Shah	10
Yatindra M Kotwal	10
Total	46030

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2010

Category	Percentage
Directors or relatives of Directors	99.00
Other top fifty shareholders	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Importer of Engineering Goods and Spare Parts.
Products :	Aluminium Utensil

GENERAL INFORMATION

Suppliers

As on 31.03.2009 :

· Aedwin Enterprises

· Ajay Enterprises

· Ajit Wood Works

· Bhavani Housewear

· Gagan Pressing Fastners

· Gaytri Metal Industry

· Guarav Steels

· Hindalco Industries Limited

· Husain and Company

· H C Joshi T Stol

· Indian Rectifiers

· Jyoti Process

· J.M.D. Eneterprises

· Paregaon Steel

· Perfect Packaging

· Poonam Buffing Works

· Pande Buffing Works

Customers

As on 31.03.2009 :

• Hawkings Cookers Limited
• Winner Screen Mabhine Private Limited
• Screen Craft
• Zen Engineers Private Limited

No. of Employees :

40 (Approximately)

Bankers :

· Janaklayan Sahakari Bank Limited, 140, Vivek Darshan, Sindhi Society, Chembur, Mumbai – 400071, Maharashtra, India

· ICICI Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
ICICI Bank Car Loan	0.000	0.047
Total	0.000	0.047
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Ashok Shamji Savla	0.345	0.345
Indradev Ramkumar Pandey	0.975	0.875
Piyush Manilal Shah	0.143	0.143
Rachna Industries	2.145	0.000
Total	3.608	1.363

Banking Relations :	--
Auditors :
Name :	K. A. Bhansali and Company Chartered Accountants
Address :	3, Seema (Kankuwadi), 280, Sir P. M. Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel. No.:	91-22-26121845
E-Mail :	krupeshbhansali@gmail.com
PAN.:	AIBPB2846G

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46030	Equity Shares	Rs.10/- each	Rs.0.460 Million

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		0.460	0.460	0.460
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.001	2.464	2.299
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.461	2.924	2.759
LOAN FUNDS
1] Secured Loans		0.000	0.047	0.224
2] Unsecured Loans		3.608	1.363	1.276
TOTAL BORROWING		3.608	1.410	1.500
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.069	4.334	4.259
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.257	2.467	1.941
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.028	0.028	0.000
DEFERREX TAX ASSETS		0.015	0.008	0.001
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.694	14.242	9.902
	Sundry Debtors	9.029	1.386	6.617
	Cash & Bank Balances	0.829	1.045	0.856
	Other Current Assets	0.000	0.000	0.398
	Loans, Advances & Deposits	2.470	2.346	0.155
Total Current Assets		25.022	19.019	17.928
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.840	17.035	15.211
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.413	0.153	0.400
Total Current Liabilities		20.253	17.188	15.611
Net Current Assets		4.769	1.831	2.317
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.069	4.334	4.259

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	102.594	92.373	92.136
		Other Income	NA	3.375	3.369
		TOTAL (A)	NA	95.748	95.505
Less	EXPENSES
		Cost of Goods Sold		70.934	71.378
		Salaries and wages		0.217	0.217
		Printing and Stationery		0.008	0.007
		Rent		0.720	0.000
		Directors remuneration		0.810	0.528
		Profession Fees		0.051	0.052
		Other Expenses		22.074	21.422
		TOTAL (B)	NA	94.814	93.604
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			0.934	1.901
Less	FINANCIAL EXPENSES (D)			0.208	0.458
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			0.726	1.443
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.399	0.416
	PROFIT BEFORE TAX (E-F) (G)		0.791	0.327	1.027
Less	TAX (H)		0.253	0.152	0.400
	PROFIT AFTER TAX (G-H) (I)		0.538	0.175	0.627
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.463	NA	NA
	BALANCE CARRIED TO THE B/S		3.001	NA	NA
	Earnings Per Share (Rs.)		11.68	3.80	13.62

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	0.18	0.66
Net Profit Margin (PBT/Sales)	(%)	0.77	0.35	1.11
Return on Total Assets (PBT/Total Assets}	(%)	2.89	1.52	5.16
Return on Investment (ROI) (PBT/Networth)		0.23	0.11	0.37
Debt Equity Ratio (Total Liability/Networth)		6.89	6.36	6.20
Current Ratio (Current Asset/Current Liability)		1.23	1.10	1.14

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors
Creditors for Goods	19.840	16.023	14.844
Creditors for Expenses		1.012	0.367
Total	19.840	17.035	15.211

FIXED ASSETS

· Building

· Plant and Machinery

· Inverter

· Car

· Furniture

· Computer

· Weighting Machine

· Electrical Instrument

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.53.40
UK Pound	1	Rs.83.32
Euro	1	Rs.70.44

SCORE & RATING EXPLANATIONS

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