MIRA INFORM REPORT

Report Date :

06.08.2012

IDENTIFICATION DETAILS

Name :	MASTER GRATINGS PRIVATE LIMITED
Registered Office :	Flat No.102, Gupta Plaza No.13, Site No.37 and 38, Local Shopping Centre, Kalkaji, New Delhi – 110019, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	17.12.2004
Com. Reg. No.:	55-131368
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U74999DL2004PTC131368
TAN No.: [Tax Deduction & Collection Account No.]	DELM11524C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Wire Cutting Machines
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 22000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The management of the company has failed to file its financials with the government department after 2008. Mr. Aditya, the director has provided with the required information to us. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for mall to mediocre business dealing 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Aditya Sharma
Designation :	Director
Contact No.:	91-9560088588
Date :	03.08.2012

LOCATIONS

Registered Office :	Flat No.102, Gupta Plaza No.13, Site No.37 and 38, Local Shopping Centre, Kalkaji, New Delhi – 110019, Delhi, India
Tel. No.:	91-129-2227490
Mobile No.:	91-9560088588 (Mr. Aditya Sharma)
Fax No.:	91-129-4142391
E-Mail :	mastergratings_1@rediffmail.com
Area :	1500 sq. Ft.
Location :	Owned
Correspondence/ Factory :	D-312, Sector-63, Noida – 201301, Uttar Pradesh, India
Tel No:	91-120-4214151
Fax No :	91-120-4214142

DIRECTORS

(AS ON: 29.09.2009)

Name :

Mrs. Kusum Sharma

Designation :

Director

Address :

D-20, 1^st Floor, Kalkaji, Delhi-110019, India

Date of Birth/Age :

09.10.1982

Date of Appointment :

01.07.2007

DIN No.:

01736479

Other Directorships :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74999DL2004PTC131368	MASTER GRATINGS PRIVATE LIMITED	Director	01/07/2007	01/07/2007	Active	NO
2	U93030DL2008PTC181621	GROWTH EXIM PRIVATE LIMITED	Director	01/08/2008	01/08/2008	Active	NO

Name :

Mr. Aditya Sharma

Designation :

Director

Address :

D-20, 1^st Floor, Kalkaji, Delhi-110019, India

Date of Birth/Age :

12.03.1980

Date of Appointment :

17.13.2004

DIN No.:

00238396

Other Directorships :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74999DL2004PTC131368	MASTER GRATINGS PRIVATE LIMITED	Director	17/12/2004	17/12/2004	Active	NO
2	U72900DL1985PLC021378	SATHYADEEP ENGINEERING COMPANY LIMITED	Director	01/04/2006	01/04/2006	Active	NO
3	U93030DL2008PTC181621	GROWTH EXIM PRIVATE LIMITED	Director	01/08/2008	01/08/2008	Active	NO
4	U29253DL2007PTC162360	SECO MACHINES PRIVATE LIMITED	Director	30/09/2011	01/07/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2009)

Names of Shareholders	No. of Shares
Kushum Sharma	50000
Aditya Sharma	50000
Total	100000

(AS ON 29.09.2009)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Wire Cutting Machines
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Shiv Iron Store

Customers :

Wholesalers and Retailers

· BS Plus Limited

No. of Employees :

20 (Approximately)

Bankers :

· IDBI Bank

Noida Branch, India

· Jammu and Kashmir Bank

Facilities :

Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Director and Directors Relatives	0.149	0.351
Total	0.149	0.351

Banking Relations :	--
Auditors :
Name :	Priyanka Garg and Associates Chartered Accountant
Address :	H. No.82, Sector-15, Faridabad-121007, Haryana, India
PAN No.:	AALFP6183E

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
100000	Equity Shares	Rs. 10/- each	Rs.1.000 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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.521	2.725	2.714
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5.521	3.725	3.714
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.250
2] Unsecured Loans		0.149	0.351	0.314
TOTAL BORROWING		0.149	0.351	0.564
DEFERRED TAX LIABILITIES		0.000	0.000	0.002
TOTAL		5.670	4.076	4.280
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.497	4.128	4.976
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.002	0.024	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.190	2.089	0.512
	Sundry Debtors	0.672	0.028	0.395
	Cash & Bank Balances	0.839	0.029	0.294
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.473	0.131	0.207
Total Current Assets		2.174	2.277	1.408
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.696	1.812	1.651
	Other Current Liabilities	0.307	0.508	0.419
	Provisions	0.000	0.033	0.034
Total Current Liabilities		2.003	2.353	2.104
Net Current Assets		0.171	(0.076)	(0.696)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		5.670	4.076	4.280

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Income (A)	18.467	4.059	6.305
Less	EXPENSES
		Cost of Materials	13.921	1.434	3.561
		Manufacturing Expenses	0.964	0.373	0.245
		Employees Remuneration	0.651	0.380	0.648
		Increase/(Decrease) in Finished Goods	0.172	0.182	(0.153)
		Selling and Distribution Expenses	1.656	1.166	1.337
		Loss on Sale of Car	0.000	0.002	0.000
		TOTAL (B)	17.364	3.537	5.638
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.103	0.522	0.667
Less	FINANCIAL EXPENSES (D)		0.000	(0.002)	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.103	0.524	0.667
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.497	0.511	0.620
	PROFIT BEFORE TAX (E-F) (G)		0.606	0.013	0.047
Less	TAX (H)		0.022	0.001	0.045
	PROFIT AFTER TAX (G-H) (I)		0.584	0.012	0.002
	Earnings Per Share (Rs.)		5.84	--	--

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	22.500	18.000

Expected Sales (2012-13): Rs.30.000 Millions

The above information has been parted by Mr. Aditya Sharma.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.16	0.30	0.03
Return on Total Assets (PBT/Total Assets}	(%)	7.90	0.20	0.74
Return on Investment (ROI) (PBT/Networth)		0.11	0.00	0.01
Debt Equity Ratio (Total Liability/Networth)		0.39	0.73	0.72
Current Ratio (Current Asset/Current Liability)		1.08	0.97	0.67

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Nos
Major Shareholders, if available	Yes
PAN of Proprietor/Partner/Director, if available	No
Passport No of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No

NOTE:

The Registered Office of the company has been shifted from D-20, Floor Kalkaji, New Delhi-110019, Delhi, India to the present address w.e.f. 01.08.2006.

TRADE REFERENCE:

· Shiv Iron Store

· BS Iron Store

FIXED ASSETS

· Car-Desire

· Furniture and Fixture

· Land

· AC and Cooler

· Bicycle

· Computer

· Motor Cycle

· Office Equipments

· Plant and Machinery

· Security Camera

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.56.08
UK Pound	1	Rs.87.03
Euro	1	Rs.68.36

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		41

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.