MIRA INFORM REPORT

Report Date :

05.11.2011

IDENTIFICATION DETAILS

Name :	FOCUS LIGHTING AND FIXTURES PRIVATE LIMITED
Registered Office :	Office No.1007-1010, 10^th Floor, Corporate Avenue Wing A, Sonawala Road, Near Udyog Bhawan, Goregaon (East), Mumbai – 400063, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.08.2005
Com. Reg. No.:	11-155278
Capital Investment / Paid-up Capital :	Rs.0.486 Million
CIN No.: [Company Identification No.]	U31500MH2005PTC155278
TAN No.: [Tax Deduction & Collection Account No.]	MUMF05186G
PAN No.: [Permanent Account No.]	AAACF9268J
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Lighting and Fixture.
No. of Employees :	19 (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 90000
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.

INFORMATION PARTED BY

Name :	Mr. Kalpen Shah
Designation :	Accountant
Date :	04.10.2011

LOCATIONS

Registered Office :	Office No.1007-1010, 10^th Floor, Corporate Avenue Wing A, Sonawala Road, Near Udyog Bhawan, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-26865671
Fax No.:	91-22-26865676
E-Mail :	amit.trix@gmail.com info@pluslighttech.com
Website :	http://www.pluslighttech.com
Location :	Owned

DIRECTORS

(AS ON 30.09.2008)

Name :

Mr. Amit Vinod Sheth

Designation :

Director

Address :

12, Avishkar Building, Lallubhai Park Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Appointment :

11.08.2005

DIN No.:

01468052

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	U31500MH2005PTC155278	FOCUS LIGHTING AND FIXTURES PRIVATE LIMITED	Director	11-08-05	11-08-05	Active	NO
2	U51397MH2004PTC148692	SRI JAY PHARMA EXIM PRIVATE LIMITED	Director	10-06-07	10-06-07	Active	YES
3	U52100KA2008PTC048523	FUTURE FOCUS RETAIL (INDIA) PRIVATE LIMITED	Director	05-12-08	05-12-08	Active	YES
4	U31902MH2010PTC203174	PLUS LIGHTING PRIVATE LIMITED	Director	13-05-10	13-05-10	Active	NO

Name :

Mrs. Deepali Amit Sheth

Designation :

Director

Address :

12, Avishkar Building, Lallubhai Park Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Appointment :

11.08.2005

DIN No.:

01141083

Name :

Mrs. Nalini Vinod Sheth

Designation :

Director

Address :

12, Avishkar Building, Lallubhai Park Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Appointment :

11.08.2005

DIN No.:

01714821

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	U31500MH2005PTC155278	FOCUS LIGHTING AND FIXTURES PRIVATE LIMITED	Director	11-08-05	11-08-05	Active	NO
2	U51397MH2004PTC148692	SRI JAY PHARMA EXIM PRIVATE LIMITED	Director	20-03-10	20-03-10	Active	YES

KEY EXECUTIVES

Name :	Mr. Kalpen Shah
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2008)

Names of Shareholders	No. of Shares
Amit Vinod Sheth	450
Deepali Amit Sheth	500
Nalini Vinod Sheth	9050
Total	10000

(AS ON 30.09.2008)

Equity Shares Break – up

Category	Percentage
Directors/ Relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Lighting and Fixture.
Imports :
Products :	Lighting and Fixture
Countries :	Germany and China
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	Cash and Credit (30 days)

GENERAL INFORMATION

Customers :

End Users and Corporate

No. of Employees :

19 (Approximately)

Bankers :

· Dena Bank,

Juhu Branch, Mumbai, Maharashtra, India

· ICICI Bank

· HDFC Bank

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
HDFC Bank - Car Loan	0.400	0.571
Total	0.400	0.571
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Deepali Sheth	0.420	0.120
Nalini Sheth	0.120	0.120
S B Sales Company	0.500	0.000
Total	1.040	0.240

Banking Relations :	--
Auditors :
Name :	Bharat G Shah Chartered Accountant
Address :	209-B, Shyam Kamal, B Building, Agarwal Market, Tejpal Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel No.:	91-22-26119591/ 26151448
Fax No.:	91-22-26119591
PAN No.:	AAGPS2455J

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs.1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
48600	Equity Shares	Rs.10/- each	Rs.0.486 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		0.486	0.100	0.100
2] Share Premium Account		18.914	0.000	0.000
2] Share Application Money		0.000	16.800	0.000
3] Reserves & Surplus		2.194	1.092	0.147
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		21.594	17.992	0.247
LOAN FUNDS
1] Secured Loans		0.400	0.571	0.000
2] Unsecured Loans		1.040	0.240	0.240
TOTAL BORROWING		1.440	0.811	0.240
DEFERRED TAX LIABILITIES		0.020	0.035	0.015
TOTAL		23.054	18.838	0.502
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.959	1.111	0.323
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.743	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.593	3.790	3.750
	Sundry Debtors	10.957	9.736	10.195
	Cash & Bank Balances	1.495	0.641	2.581
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.651	11.662	2.208
Total Current Assets		29.696	25.829	18.734
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	6.423	4.592	18.154
	Other Current Liabilities	0.720	2.627	0.153
	Provisions	1.227	0.887	0.254
Total Current Liabilities		8.370	8.106	18.561
Net Current Assets		21.326	17.723	0.173
MISCELLANEOUS EXPENSES		0.026	0.004	0.006
TOTAL		23.054	18.838	0.502

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	1.987	1.876	0.367
Less/ Add	DEPRECIATION/ AMORTISATION	0.349	0.277	0.029
	PROFIT BEFORE TAX	1.638	1.599	0.338
	Earnings Per Share (Rs.)	--	--	--

Particulars	31.03.2011	31.03.2010
Sales Turnover (Approximately)	157.000	82.500

Expected Sales (2011-12): Above Rs.250.000 Millions

The above information has been parted by Mr. Kalpen.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	5.34	5.94	1.77
Return on Investment (ROI) (PBT/Networth)		0.08	0.09	1.37
Debt Equity Ratio (Total Liability/Networth)		0.45	0.50	76.12
Current Ratio (Current Asset/Current Liability)		3.55	3.19	1.01

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2010	31.03.2009	31.03.2008
	(Rs. In Millions)
Sundry Creditors for Materials	6.423	4.592	18.154

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution 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 for last two years	Yes
Profitability for last three years	-------
Reasons for variation <> 20%	-------
Estimation for coming financial year	Yes
Capital in the business	No
Details of sister concerns	-------
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	-------
Litigations that the firm/ Promoters Involved in	-------
Banking details	Yes
Banking Facility Details	-------
Conduct of the Banking Account	-------
Buyer visit details	-------
Financials, if provided	No
Incorporation details is applicable	-------
Last Accounts filed at ROC	-------
Major Shareholders, if available	-------

FINANCIAL RESULTS

The company has earned profit of Rs.1.638 Millions before taxation and after providing depreciation of Rs.0.349 Million.

FIXED ASSETS:

· Motor Car

· Die Casting Die

· Air Conditioner

· Computer

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.49.37
UK Pound	1	Rs.78.50
Euro	1	Rs.67.59

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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		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.