MIRA INFORM REPORT

Report Date :

12.04.2001

IDENTIFICATION DETAILS

Name :	ADITYA ROOFING SOLUTIONS PRIVATE LIMITED
Registered Office :	Shed No. 2, Plot No. 31, Nadkerappa Industrial Estate, Andrahalli Main, Andrahalli Main Road, Hegganahalli, Wishwaneedam PO, Bangalore – 560011, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.02.2010
Com. Reg. No.:	08-052392
Capital Investment / Paid-up Capital :	Rs.9.610 Million
CIN No.: [Company Identification No.]	U28992KA2010PTC052392
TAN No.: [Tax Deduction & Collection Account No.]	BLRA13901G
PAN No.: [Permanent Account No.]	AAICA3837A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Roofing Accessories
No. of Employees :	10 (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 25000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track. There appears 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 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 – 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 PARTED BY

Name :	Mr. Bhaskar
Designation :	Accountant
Contact No.:	91-80-31927888
Date :	10.04.2012

LOCATIONS

Registered Office/ Factory :	Shed No. 2, Plot No. 31, Nadkerappa Industrial Estate, Andrahalli Main, Andrahalli Main Road, Hegganahalli, Wishwaneedam PO, Bangalore – 560011, Karnataka, India
Tel. No.:	91-80-31927888
Fax No.:	Not Available
E-Mail :	adityaroofing@gmail.com info@adityaroofing.com
Websites :	www.adityaroofing.com
Location :	Owned

DIRECTORS

As on 06.08.2011

Name :

Mr. Shashi Kumar Nadakerappa

Designation :

Managing director

Address :

79, 11^th Main, 2^nd Cross Road, 1^st Floor, Nagarabhavi, 11 Stage, Bangalore – 560071, Karnataka, India

Date of Birth/Age :

01.01.1973

Date of Appointment :

08.02.2010

DIN No.:

02096456

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	U21091KA2003PTC031641	SHREYA PACKAIDS PRIVATE LIMITED	Managing director	15-07-08	17-06-08	02-09-08	Dormant	NO
2	U28992KA2010PTC052392	ADITYA ROOFING SOLUTIONS PRIVATE LIMITED	Managing director	30-07-10	08-02-10	-	Active	NO

Name :

Mr. Raghavendra Hanumanthagiri Rangaiah

Designation :

Director

Address :

Srinivasa Nilaya NO.1, 9^th Main, 2^nd Cross, Mathikere Extension, Bangalore – 560054, Karnataka, India

Date of Birth/Age :

04.07.1985

Date of Appointment :

08.02.2010

DIN No.:

02889810

Name :

Mr. Gopala Kotappanapalya Narayanappa

Designation :

Director

Address :

No. 95, MIG, 7^th Cross, 2^nd Stage, KHB Colony, Basaveshwara Nagar, Bangalore – 560079, Karnataka, India

Date of Birth/Age :

17.07.1968

Date of Appointment :

08.02.2010

DIN No.:

02872508

Name :

Mr. Bharath Kumar Ramachandraiah

Designation :

Additional director

Address :

F-163, Sri Lakshmi Traders, BEL Layout, Magadi Main Road, Bangalore – 560091, Karnataka, India

Date of Birth/Age :

21.07.1986

Date of Appointment :

05.04.2010

DIN No.:

02928583

KEY EXECUTIVES

Name :	Mr. Bhaskar
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.08.2011

Names of Shareholders	No. of Shares
Shashi Kumar Nadakerappa	400000
Raghavendra Hanumanthagiri Rangaiah	100000
Gopala Kotappanapalya Narayanappa	211000
Bharath Kumar Ramachandraiah	250000
TOTAL	961000

Equity Share Break up (Percentage of Total Equity)

As on 06.08.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Roofing Accessories
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS

Particulars	Unit	Actual Production
Profile Sheets/ Ridges/ Plain Sheet/ Flashing	Sq. Mts	64855.31
Gutters / Flashing / North Light/ Plain	RMTRs	1868.92

GENERAL INFORMATION

Suppliers :

• National Steel Industries Limited

Customers :

Wholesalers and Retailers

• Micon Construction Private Limited

No. of Employees :

10 (Approximately)

Bankers :

Bank of India, Peenya Industrial Estate, Mid Corporate Banking Branch, Bangalore – 560058, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)
Cash Credit from Bank of India (Secured by first charge on inventories and book debts )	4.057
Term Loan from Bank of India (Secured by first charge on plant and machinery, not utilized during the year)	0.005
Total	4.062

Cash Credit Rs.4.000 Millions (Bank of Baroda)

Banking Relations :	-
Auditors :
Name :	A R Pradeep and Company Chartered Accountant
Address :	No. 236, 6^th Cross, 6^th Main, BTM Mico Layout, Bangalore – 560076, Karnataka, India
Tel. No.:	91-80-41311111
Mobile No.:	91-9980473409
E-Mail :	padee_ap@yahoo.com
PAN.:	AOFPP2009H

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
961000	Equity Shares	Rs.10/- each	Rs.9.610 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		9.610
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(3.306)
NETWORTH		6.304
LOAN FUNDS
1] Secured Loans		4.062
2] Unsecured Loans		0.000
TOTAL BORROWING		4.062
DEFERRED TAX LIABILITIES		0.000
TOTAL		10.366
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.871
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.123
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.936
	Sundry Debtors	3.824
	Cash & Bank Balances	0.001
	Other Current Assets	0.000
	Loans & Advances	1.958
Total Current Assets		11.719
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.334
	Other Current Liabilities	0.804
	Provisions	0.209
Total Current Liabilities		6.347
Net Current Assets		5.372
MISCELLANEOUS EXPENSES		0.000
TOTAL		10.366

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011
	TURNOVER	17.319
	PROFIT BEFORE TAX	(3.428)
Less	TAX	(0.123)
	PROFIT AFTER TAX	(3.305)
	BALANCE CARRIED TO THE B/S	(3.305)

Particulars	31.03.2012
Sales Turnover (Approximately)	65.000

Expected Sales (2012-2013 ) : Rs.120.000 Millions

The above information has been parted by Mr. Bhaskar – Accountant

KEY RATIOS

PARTICULARS		31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	20.66
Return on Investment (ROI) (PBT/Networth)		0.54
Debt Equity Ratio (Total Liability/Networth)		1.65
Current Ratio (Current Asset/Current Liability)		1.85

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	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last one years	Yes
12) Profitability for last one 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	No
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
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	Yes
30) Major Shareholders, if available	Yes

Operational Highlight

The company has been able to achieve impressive turnover in the first year of its commercial operations. The directors except better performance in the coming financial years

FORM 8

Corporate identity number of the company	U28992KA2010PTC052392
Name of the company	ADITYA ROOFING SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Shed No. 2, Plot No. 31, Nadkerappa Industrial Estate, Andrahalli Main, Andrahalli Main Road, Hegganahalli, Wishwaneedam PO, Bangalore – 560011, Karnataka, India Email: adithyashashikumar@gmail.com
This form is for	Creation of charge
Type of charge	Book Debts Movable Property
Particular of charge holder	Bank of India, Peenya Industrial Estate, Mid Corporate Banking Branch, Bangalore – 560058, Karnataka, India Email: PIEMCB.Karnataka@bankofindia.co.in
Nature of instrument creating charge	Hypothecation cum loan agreement for a term loan of Rs.2.300 millions purchasing machinery for a term of 60 months @ 12.5% ROI Hypothecation cum loan agreement for cash credit of Rs.4.000 millions @ 11.5% ROI
Date of instrument Creating the charge	11.12.2010
Amount secured by the charge	Rs.6.300 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest For Term Loan - 12.5% For Cash Credit - 11.5% Terms of Repayment For Term Loan – 60 EMIs For Cash Credit on Demand Margin For Term Loan - 25% of value of Machinery For Cash Credit: 25% against raw materials, finished goods 25% against stores 25% against goods in process 35% against book debts outstanding of 2/3 months Extent and Operation of the charge Sole Charge On The Hypothecated Machinery, Stock and Book Debts
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary for term loan - existing weighing scale, rolling mill, forklift, proposed rolling line with rolling toolings, pbr series hydraulic press brake situated at the registered office of the company Primary for cash credit - stocks of roofing materials and finished goods, book debts

Trade References

• Micon construction Private Limited
• National Steel Industries Limited

FIXED ASSETS

• Plant and Machinery
• Electrical Installation
• Furniture and Fixture
• Computer

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.51.55
UK Pound	1	Rs.81.95
Euro	1	Rs.67.57

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
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	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		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.