MIRA INFORM REPORT

Report Date :

11.04.2012

IDENTIFICATION DETAILS

Name :	R.S. ELECTRO ALLOYS PRIVATE LIMITED
Registered Office :	RZ-7, Sayeed Nangloi, Near Meera Bagh, New Delhi-110087
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.05.2009
Com. Reg. No.:	55-190617
Capital Investment / Paid-up Capital :	Rs.0.800 Million
CIN No.: [Company Identification No.]	U31103DL2009PTC190617
TAN No.: [Tax Deduction & Collection Account No.]	DELR17991B
PAN No.: [Permanent Account No.]	AAECR3775L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Trading of Electro Alloys.
No. of Employees :	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 4200
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track. 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 – 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. Rakesh Karan Yadav
Designation :	Director
Contact No.:	91-11-25280488
Date :	28.03.2012

LOCATIONS

Registered Office :	RZ-7, Sayeed Nangloi, Near Meera Bagh, New Delhi-110087, India
Tel. No.:	91-11-25280488
Fax No.:	Not Available
E-Mail :	mca21mail@gmail.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Shekhar Manoharlal Rao

Designation :

Director

Address :

A-289, Block A, Meera Bagh, Paschim Vihar, New Delhi-110087, India

Date of Birth/Age :

31.07.1980

Date of Appointment :

26.05.2009

Din No.:

00434261

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	U70109DL2006PTC152141	YADUVANSHI PROPERTIES PRIVATE LIMITED	Director	27-12-06	27-12-06	21-05-09	Active	YES
2	U31103DL2009PTC190617	R.S. ELECTROALLOYS PRIVATE LIMITED	Director	26-05-09	26-05-09	-	Active	NO
3	U31501DL2009PTC192825	RAO ELECTROMECHANICAL RELAYS PRIVATE LIMITED	Director	03-08-09	03-08-09	-	Active	NO

Name :

Mr. Rakesh Karan Yadav

Designation :

Director

Address :

2, Hastsal Village, Uttam Nagar, New Delhi-110059, India

Date of Birth/Age :

17.11.1979

Date of Appointment :

26.05.2009

Din No.:

02492841

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Shekhar Manoharlal Rao	40000
Rakesh Karan Yadav	40000
Total	80000

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Electro Alloys.

GENERAL INFORMATION

Suppliers :

· Industrial Components and Devices

· Anad Industries

· Derui (HK) Industrial Limited

· Ningbo Shenle Electrical Engineering Alloys Company Limited

· Ningbo Yakki Industrial Company Limited

Customers :

· Aircon Electrical

· Amita Enterprises

· Amit and Company

· Electroloc Power Control Company

· Fine Switchgears

· Indian Power System

· Mahendra Telecom Company

· Rao Electromechanical Relays Private Limited

· Shirke Electro Control

· Special Relay

· Sumit Electronics

· Tara Relay Private Limited

· Weldon Enterprises

· ZF Electronics TVS India Private Limited

No. of Employees :

Information denied by the management.

Bankers :

Not Available

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Directors	1.094	0.950
From Others	1.006	0.000
Total	2.100	0.950

Banking Relations :	--
Auditors :
Name :	Manish Harsh and Company Chartered Accountants
Address :	F-11, Surya Tower, 30-31, DDA Community Centre, Paschim Vihar, New Delhi-110063, India
Tel. No.:	91-11-25255140/42321228
Mobile No.:	91-9811089109
E-Mail :	info@camanishgupta.com
Website:	http://www.camanishgupta.com
Pan No.:	AAPFM2180C

CAPITAL STRUCTURE

As on 31.03.2011

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
80000	Equity Shares	Rs.10/- each	Rs.0.800 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.800	0.800
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.274	0.060
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.074	0.860
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.100	0.950
TOTAL BORROWING		2.100	0.950
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		3.174	1.810
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.769	1.270
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.762	0.538
	Sundry Debtors	3.335	2.105
	Cash & Bank Balances	0.597	0.254
	Other Current Assets	0.000	0.000
	Loans & Advances	0.647	0.273
Total Current Assets		9.341	3.170
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.610	2.155
	Other Current Liabilities	1.334	0.485
	Provisions	0.007	0.009
Total Current Liabilities		7.951	2.649
Net Current Assets		1.390	0.521
MISCELLANEOUS EXPENSES		0.015	0.019
TOTAL		3.174	1.810

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	24.733	4.558
		Other Income	0.000	0.000
		TOTAL	24.733	4.558
Less	EXPENSES
		Cost of goods sold	18.003	3.572
		Commission of sale	1.146	0.000
		Advertisement expenses	0.283	0.005
		Director remuneration	0.480	0.360
		Office expenses	0.100	0.008
		Salary	1.978	0.268
		Telephone expenses	0.087	0.011
		Other expenses	2.041	0.212
		TOTAL	24.118	4.436
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.615	0.122
Less/ Add	DEPRECIATION/ AMORTISATION		0.302	0.035
	PROFIT BEFORE TAX		0.313	0.087
Less	TAX		0.098	0.027
	PROFIT AFTER TAX		0.215	0.060
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.060	0.000
Less	SHORT EXCESS PROVISION		0.001	0.000
	BALANCE CARRIED TO THE B/S		0.274	0.060
	Earnings Per Share (Rs.)		2.69	0.75

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.87	1.32
Net Profit Margin (PBT/Sales)	(%)	1.27	1.91
Return on Total Assets (PBT/Total Assets}	(%)	2.82	1.96
Return on Investment (ROI) (PBT/Networth)		0.29	0.10
Debt Equity Ratio (Total Liability/Networth)		9.36	4.18
Current Ratio (Current Asset/Current Liability)		1.17	1.20

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	No
10) Designation of contact person	No
11) Turnover of firm for last two years	Yes
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	No
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	No
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	Yes
30) Major Shareholders, if available	Yes

FIXED ASSETS:

· Machinery

· Vehicles

· Land

· Computer

· Furniture and Fixtures

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.51.20
UK Pound	1	Rs.81.50
Euro	1	Rs.67.15

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.