MIRA INFORM REPORT

Report Date :

08.10.2011

IDENTIFICATION DETAILS

Name :	ALFATECH ENGINEERS PRIVATE LIMITED
Registered Office :	Prakash Marble Compound, Upvan, Pokharan Road, Thane 400606, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.07.1996
Com. Reg. No.:	100920
Capital Investment / Paid-up Capital :	Rs.0.498 Million
CIN No.: [Company Identification No.]	U29299MH1996PTC100920
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter Tapping Machine
No. of Employees :	15 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 4732
Status :	Small Company
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. 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.

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

INFORMATION PARTED BY

Name :	Mr. R S Rathod
Designation :	Director
Contact No.:	91-9322518423 / 9930419356
Date :	24.09.2011

LOCATIONS

Registered Office/Factory :	Prakash Marble Compound, Upvan, Pokharan Road, Thane 400606, Maharashtra, India
Tel. No.:	91-22-25888613
Fax No.:	91-22-25888613
E-Mail :	alfatechengineers@gmail.com mnchoksiandco@gmail.com
Website:	www.alfatechengineers.com
Area:	5000 sq.ft
Location :	Owned

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Randhirsingh Sardarsingh Rathod
Designation :	Director
Address :	4B/T1, Drug Employees CHS., Opp. J K Gran, Thane – 400606, Maharashtra, India
Date of Birth/Age :	07.09.1955
Date of Appointment :	11.07.1996
DIN No.:	00038119

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	U29299MH1996PTC100920	Alfatech Engineers Private Limited	Director	11/07/1996	11/07/1996	-	Active	NO

Name :	Mr. Ketansinh Sardarsingh Rathod
Designation :	Director
Address :	4B/T1, Drug Employees CHS., Opp. J K Gran, Thane – 400606, Maharashtra, India
Date of Birth/Age :	30.09.1987
Date of Appointment :	01.12.2005
DIN No.:	01164820

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	U29299MH1996PTC100920	Alfatech Engineers Private Limited	Director	01/12/2005	01/12/2005	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Randhirsingh Sardarsingh Rathod	22400
Snehalkunvar Randhirsingh Rathod	2000
Rajkunvar Sardarsingh Rajput	25400
Sanika Sardarsingh Rathod	25
Ketansinh Sardarsingh Rathod	25
	49850

AS ON 30.09.2010

S. No.	Category	Percentage
1	Directors or relatives of Directors	100.00
	Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter Tapping Machine
Products :	Vertical Tapping Machine (Pneumatic) Horizontal Tapping Machine Hydraulic Tapping Machine In addition, we also provide an assortment of precision-engineered accessories such as: Angular Tapping Machine Table With Wheels Detachable Table With Wheels Little Table Column Die Holder Trolley And Column Lifter Magnetic Support Tapholders With Safety Clutch.
Exports :
Products :	Tapping Machine
Countries :	Italy Kenya Bangkok
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :

· Industries

· CMI FPE Limited

· Delco

· Bajaj

No. of Employees :

15 Approximately

Bankers :

· ICICI Bank, Thane Branch, Maharashtra, India

· Thane Janata Sahakari Bank, Thane, Maharashtra, India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2010	31.03.2009
From TJSB Limited Cash Credit (secured against hypothecation of stock and book debts and personal guarantee of the directors)	0.000	0.013
From ICICI Bank (secured against hypothecation of Motor car and personal guarantee of the directors)	0.000	0.072
Total	0.000	0.085
UNSECURED LOAN	0.045	0.045

Banking Relations :	--
Auditors :
Name :	M N Choksi and Company Chartered Accountant
Address :	301, Adeshwar Darshan, Ram Maruti Road, Thane – 400602, Maharashtra, India
Tel No.:	91-22-25362374/25332225
Fax No.:	91-22-25362374/25332225
Email :	comnc@mncandco.com / mnchoksiandco@gmail.com
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
49850	Equity Shares	Rs.10/- each	Rs.0.498 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		0.498	0.498	0.498
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.685	0.584	0.500
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.183	1.082	0.998
LOAN FUNDS
1] Secured Loans		0.000	0.085	0.210
2] Unsecured Loans		0.045	0.045	0.045
TOTAL BORROWING		0.045	0.130	0.255
DEFERRED TAX LIABILITIES		0.014	0.000	0.000
TOTAL		1.242	1.212	1.253
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.663	1.109	1.249
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.024	0.025	0.025
DEFERREX TAX ASSETS		0.000	0.007	0.009
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.688	2.427	2.761
	Sundry Debtors	1.842	1.198	0.964
	Cash & Bank Balances	1.141	0.306	0.188
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.750	1.482	1.426
Total Current Assets		4.421	5.413	5.339
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.176	0.969	0.909
	Other Current Liabilities	3.453	4.217	4.302
	Provisions	0.237	0.156	0.158
Total Current Liabilities		4.866	5.342	5.369
Net Current Assets		(0.445)	0.071	(0.030)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.242	1.212	1.253

PROFIT & LOSS ACCOUNT

Particulars	31.03.2011
Sales Turnover (Approximately)	12.000

Expected Sales (2011-2012) : Rs.20.000 Millions

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	12.659	10.171	4.512
		Other Income	0.022	0.225	0.266
		TOTAL	12.681	10.396	4.778
Less	EXPENSES
		Manufacturing Expenses	10.636	8.508	3.529
		Administrative Expenses	1.570	1.403	0.847
		Selling and Distribution Expenses	0.055	0.006	0.027
		TOTAL	12.261	9.917	4.403
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.420	0.479	0.375
Less	FINANCIAL EXPENSES (D)		0.048	0.135	0.073
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.372	0.344	0.302
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.196	0.187	0.209
	PROFIT BEFORE TAX		0.176	0.157	0.093
Less	TAX		0.075	0.073	0.072
	PROFIT AFTER TAX		0.101	0.084	0.021
	Earnings Per Share (Rs.)		2.03	1.68	0.42

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.79	0.80	0.44
Net Profit Margin (PBT/Sales)	(%)	1.39	1.54	2.06
Return on Total Assets (PBT/Total Assets}	(%)	2.89	2.40	1.41
Return on Investment (ROI) (PBT/Networth)		0.14	0.14	0.09
Debt Equity Ratio (Total Liability/Networth)		4.16	5.05	5.63
Current Ratio (Current Asset/Current Liability)		0.90	1.01	0.99

LOCAL AGENCY FURTHER INFORMATION

FIXED ASSETS:

• Building
• Plant and Machinery
• Furniture and Fixtures

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions 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	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	--
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	--
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

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 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.49.14
UK Pound	1	Rs.75.97
Euro	1	Rs.65.99

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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		28

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

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.