MIRA INFORM REPORT

Report Date :

20.09.2011

IDENTIFICATION DETAILS

Name :	TARANG KINETICS PRIVATE LIMITED
Registered Office :	C-20, Industrial Estate, Ram Nagar, Roorkee-247667, Uttaranchal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	21.06.1995
Com. Reg. No.:	20-018277
Capital Investment / Paid-up Capital :	Rs.0.940 Million
CIN No.: [Company Identification No.]	U36991UR1995PTC018277
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Electronics Instrument and Testing Machines Electronic Products and Components.
No. of Employees :	More than 40 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 15000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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. Akshat
Designation :	Manger
Contact No.:	91-9760025259
Date :	13.09.2011

LOCATIONS

Registered Office/ Factory :	C-20, Industrial Estate, Ram Nagar, Roorkee-247667, Uttaranchal, India
Tel. No.:	91-1332-264289/ 266959
Mobile No.:	91-9760025259 [Mr. Akshat]
Fax No.:	91-1332-265446/ 273259
E-Mail :	info@tarangkinetics.com tarangkinetics@gmail.com
Website :	www.tarangkinetics.com
Location :	Owned

DIRECTORS

As on 28.09.2010

Name :

Mr. Anil Kumar Jain

Designation :

Director

Address :

42, Civil Lines, Roorkee, Haridwar – 247 667, Uttarakhand, India

Date of Birth/Age :

27.05.1954

Qualification :

BAC and LLB

Date of Appointment :

21.06.1995

Din No.:

01115663

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	U36991UR1995PTC018277	TARANG KINETICS PRIVATE LIMITED	Managing director	21-06-95	21-06-95	Active	NO
2	U74900DL1996PTC083268	JAI BHARAT INSTRUMENTS PRIVATE LIMITED	Managing director	14-11-96	14-11-96	Active	NO

Name :

Mrs. Veena Jain

Designation :

Director

Address :

42, Civil Lines, Roorkee, Haridwar – 247 667, Uttarakhand, India

Date of Birth/Age :

19.10.1961

Qualification :

MAC

Date of Appointment :

21.06.1995

Din No.:

01115749

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	U36991UR1995PTC018277	TARANG KINETICS PRIVATE LIMITED	Director	21-06-95	21-06-95	Active	NO

KEY EXECUTIVES

Name :	Mr. Akshat
Designation :	Manger

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2010

Names of Shareholders	No. of Shares
Anil Kumar Jain	50000
Veena Jain	44000
Total	94000

As on 28.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Electronics Instrument and Testing Machines Electronic Products and Components.
Products :	Vibration Shaker System Vibration Accessories Shock Test Machine Bump Test Machine Centrifuge Machine for Acceleration
Imports :
Products :	Raw Material
Countries :	USA Germany China
Terms :
Purchasing :	Depend

GENERAL INFORMATION

Customers :

Others (Automobile Industries)

No. of Employees :

More than 40 [Approximately]

Bankers :

Union Bank of India, Branch Civil Lines, Roorkee-247667, Uttaranchal, India

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
Car Loan	0.159	0.279
UBI Book Debts [Secured by book debts, block of assets of the company]	0.501	0.500
UBI Cash Credit [Secured by hypothecation of stock, block of assets of the company]	0.907	1.484
UBI OD A/C	6.214	5.869
Total	7.781	8.132

Banking Relations :	--
Auditors :
Name :	Satyendra and Company Chartered Accountants
Address :	Shiv Complex, 12, Civil Lines, Roorkee-247667, Uttarakhand, India
Tel. No.:	91-1332-271617
Mobile No.:	91-9837053399
Fax No.:	91-1332-275657

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
94000	Equity Shares	Rs.10/- each	Rs.0.940 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		0.940	0.940	0.940
2] Share Application Money		2.677	2.677	2.318
3] Reserves & Surplus		0.370	0.314	0.168
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.987	3.931	3.426
LOAN FUNDS
1] Secured Loans		7.781	8.132	4.147
2] Unsecured Loans		2.273	2.060	1.895
TOTAL BORROWING		10.054	10.192	6.042
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		14.041	14.123	9.468
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.348	1.562	1.044
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.830	0.818	0.518
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.616	11.673	6.442
	Sundry Debtors	2.659	2.653	5.461
	Cash & Bank Balances	0.039	0.036	0.020
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.739	0.828	0.608
Total Current Assets		17.053	15.190	12.531
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.157	2.869	4.026
	Other Current Liabilities	0.809	0.000	0.000
	Provisions	1.224	0.578	0.599
Total Current Liabilities		5.190	3.447	4.625
Net Current Assets		11.863	11.743	7.906
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		14.041	14.123	9.468

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Gross Receipts	22.756	16.625	16.558
		Other Income	0.051	0.056	0.024
		TOTAL (A)	22.807	16.681	16.582
Less	EXPENSES
		Raw Materials Consumed	11.071	7.308	7.485
		Manufacturing Expenses	3.473	3.327	3.236
		Administrative, Selling and Distribution Expenses	6.670	4.583	4.786
		TOTAL (B)	21.214	15.218	15.507
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.593	1.463	1.075
Less	FINANCIAL EXPENSES (D)		1.122	1.080	0.791
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.471	0.383	0.284
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.277	0.237	0.157
	PROFIT BEFORE TAX (E-F) (G)		0.194	0.146	0.127
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		0.194	0.146	0.127
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.314	0.168	NA
	BALANCE CARRIED TO THE B/S		0.508	0.314	NA
	Earnings Per Share (Rs.)		2.06	1.55	--

Particulars	31.03.2011
Sales Turnover [Approximately]	30.000

The above information has been parted by Mr. Akshat.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.85	0.88	0.77
Net Profit Margin (PBT/Sales)	(%)	0.85	0.88	0.77
Return on Total Assets (PBT/Total Assets}	(%)	1.05	0.87	0.94
Return on Investment (ROI) (PBT/Networth)		0.05	0.04	0.04
Debt Equity Ratio (Total Liability/Networth)		3.82	3.47	3.11
Current Ratio (Current Asset/Current Liability)		3.29	4.41	2.71

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

During the year the company was able to achieve a turnover of Rs.22.808 millions, Keeping in the view the fact that it was Thirteenth year of the working of the company present progress seems to be quite satisfactory. The company expects to achieve better results during the forthcoming year.

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	90275112
Corporate identity number of the company	U36991UR1995PTC018277
Name of the company	TARANG KINETICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-20, Industrial Estate, Ram Nagar, Roorkee-247667, Uttaranchal, India
Type of charge	Book Debts Movable Property Immovable Property
Particular of charge holder	Union Bank of India, Branch Civil Lines, Roorkee-247667, Uttaranchal, India
Email	piyush_kuchhal@yahoo.co.in
Nature of description of the instrument creating or modifying the charge	Composite hypothecation deed sd-20
Date of instrument Creating the charge	17.03.2011
Amount secured by the charge	Rs.20.850 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Per Agreement Terms of Repayment As Per Agreement Margin As Per Agreement Extent and Operation of the charge As Per Agreement
Short particulars of the property charged	I) Hypothecation of All Tangible Movable Assets Including Plant And Machinery, Goods, Raw Material, Book Debts, Fixtures, Computers, Vehicles Etc II) Equitable Mortgage of Factory Land and Building Bearing Plot No. C-20, Industrial Estate Roorkee Measuring 8382 Sq Fts
Date of latest modification prior to the present modification	29.09.2010
Particulars of the present modification	Total Credit Facilities Increased From Rs.10.700 Millions To Rs. 20.850 Millions. As Follows- Tl-1 Rs.1.700 Millions, TL-II Rs.1.650 Millions , CCH- Rs.12.500 Millions And BG- Rs.5.000 Millions

FIXED ASSETS:

· Land

· Building

· Furniture and Fixtures

· Plant and Machinery

· Office Equipment

· Computer

· Testing Equipment

· Vehicles

· Inverter

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.47.79
UK Pound	1	Rs.75.05
Euro	1	Rs.65.35

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.