MIRA INFORM REPORT

Report Date :

19.09.2011

IDENTIFICATION DETAILS

Name :	PRASAD ENGRAVERS PRIVATE LIMITED
Registered Office :	Morya Industrial Co-operative Estate Limited, Opposite Polygrass Hockey Stadium, Bhosari, Pune-411030, Maharashtra
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	16.04.2004
Com. Reg. No.:	019136
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U22221PN2004PTC019136
TAN No.: [Tax Deduction & Collection Account No.]	PNEP10738A
PAN No.: [Permanent Account No.]	AADCP2685E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Name plates, Signages engraving.
No. of Employees :	15 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 2700
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively small company having moderate track. The management of the company has not filed its latest financials with the government departments. However, trade relations are reported as fair. Business is active. Payments terms are unknown. The company can be considered for business dealings with some cautions.

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. Prasad Ghatpande
Designation :	Director
Contact No.:	91-9422027994
Date :	04.09.2011

LOCATIONS

Registered Office/Factory :	Morya Industrial Co-operative Estate Limited, Opposite Polygrass Hockey Stadium, Bhosari, Pune-411030, Maharashtra, India
Tel. No.:	90-20-27128622
Mobile No.:	91-9422027994 (Mr. Prasad Ghatpande)
Fax No.:	91-20-66114180
E-Mail :	prasadeng@rediffmail.com prasadeng@vsnl.net vrsons@gmail.com prasadengravers@gmail.com
Website:	www.signlabets.com
Area :	3500 sq.ft
Location:	Owned
Branches :	Sadashiv- Peth, Pune.

DIRECTORS

AS ON 30.09.2009

Name :	Mr. Prasad Ghatpande
Designation :	Director
Address :	B -2, 23, Suncity, Anand nagar, vadgaon BK, Pune – 411051, Maharashtra, India.
Date of Birth/Age :	42 Years
Qualification :	Diploma in Plastic
Date of Appointment :	16.04.2004
Din No.:	00541189

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	U22221PN2004PTC019136	Prasad Engravers Private Limited	Director	16/04/2004	16/04/2004	-	Active	YES

Name :	Mr. Sandeep Poredi
Designation :	Director
Address :	Swapnanagri, D1, Flat No.304, Udyannagar, Opposite Annasaheb, Magar Stadium. Pimpri, Pune – 411018, Maharashtra, India.
Date of Birth/Age :	42 Years
Qualification :	DEM (Diploma in Mechanical Engg.)
Date of Appointment :	16.04.2004

Name :	Mr. Shailesh Kondre
Designation :	Director
Address :	Swapnanagri, D1, Flat No.304, Udyannagar, Opposite Annasaheb, Magar Stadium. Pimpri, Pune – 411018, Maharashtra, India.
Date of Birth/Age :	42 Years
Qualification :	DEM (Diploma in Mechanical Engg.)
Date of Appointment :	16.04.2004
Din No.:	00541278

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	U22221PN2004PTC019136	Prasad Engravers Private Limited	Director	16/04/2004	16/04/2004	-	Active	YES

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders	No. of Shares
Mr. Prasad Ghatpande	3334
Mr. Sailesh Kondre	3333
Mr. Sandeep Paredi	3333
TOTAL	10000

Equity Share Breakup

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Name plates, Signages engraving.
Products :	2D, 3D CNC Engravings 4 Axis Engravings Laser Marking and Engravings Male / Female Dies Engravings Laser Marking / Engravings PVC Labels PreSensitized Labels Steel Labels and Name Plates Aluminium Labels and Name Plates Corporate and Domestic Signages Marking Punches / Foundry Letters.
Exports :
Products :	Name Plates, Signagers Engraving
Countries :	USA, UK, UAE, Gulf Countries
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	L/C, Cash, Credit
Purchasing :	L/C, Cash, Credit

GENERAL INFORMATION

Customers :

End Users, Wholesaler

• Tata Motors limited, Pune
• Mercedes Benz Limited, Pune Plant
• Electronica Machine Tools Limited, Pune
• Thermax Limmited, Pune
• Cummins (I) Limited
• Power Resource UK
• Sandvik Asia Limited, Pune
• Serum Institute of India limited
• Bharat Forge Limited, amongst others

No. of Employees :

15 Approximately

Bankers :

• Bank of Baroda, Sadashiv – Peth , Pune, Maharashtra, India
• ICICI Bank

Facilities :

SECURED LOAN	AS ON 31.03.2009 (Rs. In millions)
Bank of Baroda Term Loan - 038	0.154
ICICI Bank Honda City Loan	0.151
ICICI Bank Swift Car Loan	0.166
Tata Motors Indica Loan	0.146
TOTAL	0.617

UNSECURED LOAN	AS ON 31.03.2009 (Rs. In millions)
Prasad Ghatpande	0.423
Shailesh Kondra	0.252
Sandeep Poredi	0.142
Engraver India	0.357
TOTAL	1.174

Banking Relations :

--

Auditors :

Name :

Rupanawar B M and Company

Chartered Accountant

Address :

602, Shukrawar Peth, Pune – 411002, Maharashtra, India.

Associates/Subsidiaries :

Prasad Engraves, Pune, Maharashtra, India

CAPITAL STRUCTURE

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Share	Rs. 10/- each	Rs.0.100 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Share	Rs. 10/- each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Paid up Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.584	0.469	0.387
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.684	0.569	0.487
LOAN FUNDS
1] Secured Loans		0.617	0.996	1.419
2] Unsecured Loans		1.174	0.967	0.215
TOTAL BORROWING		1.791	1.963	1.634
DEFERRED TAX LIABILITIES		0.000	0.000	0.035
TOTAL		2.475	2.532	2.156
FIXED ASSETS [Net Block]		2.037	2.102	2.273
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.017	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	1.553	1.564	0.844
	Cash & Bank Balances	0.646	0.269	0.495
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.060	0.070	0.333
Total Current Assets		2.259	1.903	1.672
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.838	1.473	1.237
	Other Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.552
Total Current Liabilities		1.838	1.473	1.789
Net Current Assets		0.421	0.430	(0.117)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2.475	2.532	2.156

PROFIT & LOSS ACCOUNT

Particulars	31.03.2011	31.03.2010
Sales Turnover (Approximately)	12.000	8.700

Expected Sales (2011-2012) : Rs.15.000 millions

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	5.980	4.413	4.605
		Other Income
		TOTAL	5.980	4.413	4.605
Less	EXPENSES		5.787	4.238	4.353
	PROFIT BEFORE TAX		0.193	0.175	0.252
Less	TAX		0.078	0.094	0.106
	PROFIT AFTER TAX		0.115	0.081	0.146
	Earnings Per Share (Rs.)		11.51	8.16	--

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	1.92	1.83	3.17
Return on Total Assets (PBT/Total Assets}	(%)	4.49	4.36	6.38
Return on Investment (ROI) (PBT/Networth)		0.28	0.30	0.51
Debt Equity Ratio (Total Liability/Networth)		5.30	6.03	7.02
Current Ratio (Current Asset/Current Liability)		1.22	1.29	0.93

LOCAL AGENCY FURTHER INFORMATION

Form 8

Name of the company	Prasad Engraves Private Limited
Presented By	Mr. Prasad Prabhakar Ghatpande - Chairman
1) Date and description of instrument creating the change	Hypothecation Agreement 24.05.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.175 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of stocks raw materials, work in process, semi – finished goods and finished goods such as raw materials viz aluminium and mcs materials, present and future book – debts, receivable and all the tangible movable machinery and plant pertaining to the Borrower’s works at 104 Morya Corp Industrial Estate, Bhosari, Pune
4) Gist of the terms and conditions and extent and operation of the charge.	Interest – 10% p.a., Margin 25%
5) Name and Address and description of the person entitled to the charge.	Bank of Baroda , Sadashiv Peth Branch , Pune – 411 030.

 FIXED ASSETS:

· Furniture and Fixture

· Computers

· Plant and Machinery

· Shop

· Vehicle

· Land

· Office Equipment

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.47.46
UK Pound	1	Rs.74.96
Euro	1	Rs.65.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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	Be	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Be	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	Be	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.