MIRA INFORM REPORT

Report Date :

07.04.2012

IDENTIFICATION DETAILS

Name :	ALPHA TECHNO CAST PRIVATE LIMITED
Formerly Known As :	HARI PACKAGING PRIVATE LIMITED
Registered Office :	Plot no. G – 522, Meyhoda, GIDC, Lodhika Rajkot, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.02.1994
Com. Reg. No.:	04-021255
Capital Investment / Paid-up Capital :	Rs. 2.000 Million
CIN No.: [Company Identification No.]	U25200GJ1994PTC021255
TAN No.: [Tax Deduction & Collection Account No.]	RKTA02084F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Supplier and Exporter of Castings for Valves, Casting for Sewing Machines, and Textile Machinery, etc.
No. of Employees :	Not Available

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 9000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appear some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION Declined BY

Name :	Mr. Tanubhai Patel
Designation :	Manager
Contact No.:	91-9824043919
Date :	16.03.2012

LOCATIONS

Registered Office :	Plot no. G – 522, Meyhoda, GIDC, Lodhika Rajkot, Gujarat, India
Tel. No.:	91-2827287043
Mobile No.:	91-9328899095 (Mr. Chandubhai Patel)
Fax No.:	91-2827287073
Email:	Tinks8205@yahoo.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Chandulal Popatlal Patel

Designation :

Director

Address :

80, Ashirwad Silver Avenue B/H, Parimal SCL ST. NO.5, Kalawad Road Rajkot – 360005, Gujarat India

Date of Birth/Age :

30.07.1953

Date of Appointment :

25.01.2004

DIN No.:

1728481

Other directorship ;

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	U25200GJ1994PTC021255	ALPHA TECHNOCAST PRIVATE LIMITED	Director	25/01/2004	25/01/2004	-	Active	NO

Name :

Mr. Rohit Chandulal Patel

Designation :

Director

Address :

80, Ashirwad Silver Avenue B/H, Parimal School ST. NO.5 Kalwad Road Rajkot – 360001, Gujarat, India

Date of Birth/Age :

24.01.1984

Date of Appointment :

01.08.2007

DIN No.:

01728490

Other directorship ;

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	U25200GJ1994PTC021255	ALPHA TECHNOCAST PRIVATE LIMITED	Director	1/8/2007	1/8/2007	-	Active	NO

Name :

Mr. Parshotambhai Bhimjibhai Khoont

Designation :

Director

Address :

Kudarat, Block No. Astron SOC, Main Road. Rajkot – 360001, Gujarat, India

Date of Birth/Age :

21.09.1953

Date of Appointment :

19.032007

DIN No.:

02844889

Other directorship ;

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	U25200GJ1994PTC021255	ALPHA TECHNOCAST PRIVATE LIMITED	Director	19/03/2007	19/03/2007	-	Active	NO

Name :

Mr. Amitkumar Chandulal Patel

Designation :

Director

Address :

Asirwad Gyatri Nagar, Main Road, Rajkot – 360005, Gujarat, India

Date of Birth/Age :

27.07.1981

Date of Appointment :

19.032007

DIN No.:

02844893

Other directorship ;

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	U25200GJ1994PTC021255	ALPHA TECHNOCAST PRIVATE LIMITED	Director	19/03/2007	19/03/2007	-	Active	NO

KEY EXECUTIVES

Name :	K.P. Rachchh and Company
Designation :	Company Secretary
Address :	317, Krishna Con- Arch-2, 3^rdFloor, Tagor Road, Rajkot, Gujarat, India
Tel no:	0813013899
Mobile no.	91-9824290889

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Chandulal Popatlal Patel	61,000
Rohit Chandulal Patel	5,000
Parshotambhai Bhimjibhai Khoont	500
Amitkumar Chandulal Patel	39,000
TOTAL	105,500

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	M Manufacturer, Supplier and Exporter of Castings for Valves, Casting for Sewing Machines, and Textile Machinery, etc.
Products :	· Casting for Valves · Casting for Sewing Machine and Textile Machinery · Casting for Defense Production · Casting for Automobile and I.C Engines · Casting for Pumps, Food, Packaging and Pharmaceutical Machinery

PRODUCTION STATUS

As on 31.03.2011

Class of goods manufactured :	Investment Casting
License Capacity :	No. License is Required
Installed Capacity :	180.00 M.T.
Actual Production :	163.270

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Raj Bank

· ICICI Bank

· Bank of India, Main Branch, Rajkot - 3600001, Gujarat, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Raj Bank C.C A/c, No.201	6.999	6.995
Raj Bank C.C A/c. 289 (M/c.)	1.259	1.519
Raj Bank C.C A/c, No.01 (Factory Building.)	3.031	3.717
ICICI OD NO. 8480500044	1.165	0.686
L AND T LIMITED	0.941	0.000
GSPC Gas Co. LIMITED (E.M. of Factory. Building. Hypothecation. Of Plant Machinery and stock debtors personal guarantee of all the director)	0.000	0.254
Total	13.395	13.171
Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loan from share Holder	3.449	4.885
Total	3.449	4.885

Banking Relations :	--
Auditors :
Name :	Y.C. Anarkat and Associates Chartered Accountant
Address :	111, Yogi Towers, Subhash Road, Near Moti Tanki Chowk Rajkot – 360001, Gujarat, India

CAPITAL STRUCTURE

As on: 30.09.2011

Authorised Capital:

No. of Shares	Type	Value	Amount
2,50,000	Equity Shares	Rs.10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,00,000	Equity Shares	Rs.10/- each	Rs. 2.000 Million

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2.000	2.000	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.178	0.178	0.178
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.178	2.178	2.178
LOAN FUNDS
1] Secured Loans		13.396	13.171	13.628
2] Unsecured Loans		3.449	4.885	3.119
TOTAL BORROWING		16.845	18.056	16.747
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		19.023	20.234	18.925
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.457	6.608	6.797
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.396	0.396	0.330
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.877	5.900	5.352
	Sundry Debtors	6.534	7.483	5.663
	Cash & Bank Balances	0.424	0.451	0.254
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.477	2.963	2.017
Total Current Assets		15.311	16.797	13.286
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.857	4.255	2.588
	Other Current Liabilities	0.47	0.164	0.136
	Provisions	0.460	0.377	0.314
Total Current Liabilities		4.787	4.796	3.037
Net Current Assets		10.524	12.000	10.251
MISCELLANEOUS EXPENSES		0.644	1.230	1.547
TOTAL		19.023	20.234	18.925

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	39.680	29.147	27.045
		Other Income	0.095	0.225	0.347
		TOTAL (A)	39.775	29.372	27.392
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	36.168	26.186	24.598
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.607	3.186	2.794
Less	FINANCIAL EXPENSES (D)		2.241	2.068	1.691
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.366	1.118	1.103
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.781	0.801	0.901
	PROFIT BEFORE TAX (E-F)		0.585	0.317	0.202
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX (G-I)		0.585	0.317	0.202
	Earnings Per Share (Rs.)		2.925

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.47	1.07	0.73
Net Profit Margin (PBT/Sales)	(%)	1.47	1.07	7.07
Return on Total Assets (PBT/Total Assets}	(%)	2.56	1.35	1.00
Return on Investment (ROI) (PBT/Networth)		0.26	0.14	0.09
Debt Equity Ratio (Total Liability/Networth)		9.93	10.49	9.20
Current Ratio (Current Asset/Current Liability)		3.19	1.39	4.02

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last two years	No
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	No
30) Major Shareholders, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U25200GJ1994PTC021255
Name of the company	ALPHA TECHNO CAST PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot no. G – 522, Meyhoda, GIDC, Lodhika Rajkot, Gujarat, India Tinks8205@yahoo.com
This form is for	Modification of charges
Charge identification (ID) number of the charge to be modified	10066829
Type of charge	Immovable property
Particular of charge holder	The co-operative Bank of Rajkot Limited, Sankar Saurabh, Saurashtra University Road, Rajkot – 360001, Gujarat, India
Nature of instrument creating charge	Instrument Relating to deposit of Title Deeds
Date of instrument Creating the charge	03.11.2009
Amount secured by the charge	Rs. 7.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	· Rate of Interest As Prescribed by the Bank · Terms of Repayment As Prescribed by the Bank · Margin As Prescribed by the Bank · Extent and Operation of the charge The charge with first and exclusive charge in favors of the bank and Remain on operation till due repayment loan, interest and other charges, if any. · Others
Short particulars of the property or asset(s) charged (including complete address and location of the property)	· The property/Land of Plot no. G – 522 in the Lodhika industrial Estate consisting of R.S. no.86/p within the village limits of Methoda, Taluka, Dist. Rajkot and more particularly prescribed in agreement · And more particularly prescribed in agreement with Bank.
Date of instrument modifying the charge	26.08.2009
Particulars of the present modification	The amount of charge Remain Same (Rs. 7.000 million) however the charge will extended and covered Immovable property as prescribed in the agreement.

Fixed Assets

· Land and Development

· Factory Building

· Plant Machinery

· Eclectic Installation

· Generator Set

· Computer

· Gas connection

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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	2
--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	NO
--AFFILIATION	YES/NO	NO
--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	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.