MIRA INFORM REPORT

Report Date :

13.08.2012

IDENTIFICATION DETAILS

Name :	TRINITY INTERFACE SYSTEMS PRIVATE LIMITED
Registered Office :	Unit Nos.13 to 17, Arenja Plaza, Sector 15, Plot No.52, CBD Belapur, New Mumbai – 400 614, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	24.04.2003
Com. Reg. No.:	11-140141
Capital Investment/ Paid-up Capital:	Rs.3.000 Millions
CIN No.: [Company Identification No.]	U74999MH2003PTC140141
TAN No.: [Tax Deduction & Collection Account No.]	MUMT10685D
PAN No.: [Permanent Account No.]	AABCT8177B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Industrial Automation Products.
No. of Employees:	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 68000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. Even though there appears slight dip in the sales turnover of the company, the profits have improved during 2012 Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered normal for 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.

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. Nilesh
Designation :	Accounts Assistant
Date :	01.08.2012

LOCATIONS

Registered Office :	Unit Nos.13 to 17, Arenja Plaza, Sector 15, Plot No.52, CBD Belapur, New Mumbai – 400 614, Maharashtra, India
Tel. No.:	91-22-27562782 -82/41558800
Fax No.:	91-22-27562721
E-Mail :	nilesh@trinity.in accounts@arenja.com sales@trinity.in
Website :	www.arenja.com
Area :	5000 sq ft
Location :	Owned

DIRECTORS

As on 28.09.2011

Name :	Mr. Nithij Ajeet Arenja
Designation :	Director
Address :	6/C, Balmoral Hall, Mount Mary Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Date of Birth/Age :	25.08.1976
Date of Appointment :	18.05.2004
Din No.:	00177776
Name :	Mrs. Angellina Nithij Arenja
Designation :	Director
Address :	6/C, Balmoral Hall, Mount Mary Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Date of Appointment :	18.05.2004
Din No.:	00508680
Name :	Mr. Anuj Ajeet Arenja
Designation :	Director
Address :	13/A, Balmoral Hall, Mount Mary Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Date of Birth/Age :	08.06.1978
Date of Appointment :	24.04.2003
Din No.:	00177895
Voter ID No.:	FLN0329876
Name :	Ms. Ritika Anuj Arenja
Designation :	Director
Address :	13/A, Zephyer Co-Operative Housing Society Limited, Balmoral Hall, 7, Mount Mary Road, Bandra (West), Mumbai - 400 050, Maharashtra, India
Date of Birth/Age :	26.05.1982
Date of Appointment :	25.01.2011
Din No.:	00507126

KEY EXECUTIVES

Name :	Mr. Nilesh
Designation :	Accounts Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
Nithiij Arenja	17990
Nitika Arenja	500
Anuj Arenja	10510
Angellina Arenja	1000
Total	30000

As on 28.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Industrial Automation Products.
Terms :
Selling :	Cash/Credit
Purchasing :	Cash/Credit

GENERAL INFORMATION

Suppliers :

· Penair

· Phenix

Customers :

Wholesalers, Retailers

· L and T

No. of Employees :

250 (Approximately)

Bankers :

· Oriental Bank of Commerce, Bandra Branch, Ground Floor, Mahatma Gandhi Seva, Mandi Trust Building, S.V. Road, Bandra (West), Mumbai – 400 050, Maharashtra, India

· Citi Bank

· ICICI Bank Limited

· HDFC Bank

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2012	31.03.2011
ICICI Car Loan (Optra)		1.455
Kotak Bolero Loan		0.400
HDFC Car Loan	15.556	0.000
Citi Bank Term Loan (A/c no.223247)		30.629
Citi Bank Term Loan (A/c no.223248)		3.732
Total	15.556	36.216

UNSECURED LOAN	31.03.2012	31.03.2011
Due to Directors		22.024
Deposit from Client	9.901	1.000
Luxmi Khandari		0.000
Total	9.901	23.024

Banking Relations :	--
Auditors :
Name :	B.H. Hansotia Chartered Accountants
Address :	T-11, Cusrow Baug, Shahid Bhagat Sing Road, Mumbai – 400 039, Maharashtra, India
Tel. No.:	91-22 -22830690/22842843
Fax No.:	91-22-22870976/22828079
Pan No.:	AAAPH2209J
Associates/Subsidiaries :	A. N Enterprises

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.3.000 millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
30000	Equity Share	Rs.100/- each	Rs.3.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Share	Rs.100/- each	Rs.3.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		3.000	3.000	3.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		21.604	13.890	7.549
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		24.604	16.890	10.549
LOAN FUNDS
1] Secured Loans		15.556	36.216	41.296
2] Unsecured Loans		9.901	23.024	7.006
TOTAL BORROWING		25.457	59.240	48.302
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		50.061	76.130	58.851
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		19.946	19.374	15.057
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	44.896	56.041	72.625
	Sundry Debtors		29.251	29.743
	Cash & Bank Balances	30.200	0.495	0.121
	Other Current Assets		5.603	5.599
	Loans & Advances	8.044	28.643	11.097
Total Current Assets		83.140	120.033	119.185
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	45.738	12.229	5.071
	Other Current Liabilities		46.168	65.184
	Provisions	7.287	4.880	6.477
Total Current Liabilities		53.025	63.277	76.732
Net Current Assets		30.115	58.756	42.453
MISCELLANEOUS EXPENSES		0.000	0.000	1.341
TOTAL		50.061	76.130	58.851

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Sales	273.651	314.719	242.752
		Interest Received from Bank/ Others	0.545	0.366	0.743
		Other Income	22.463	25.357	18.051
		TOTAL	296.659	340.442	261.546
Less	EXPENSES
		Cost of Sales	198.470	236.685	188.925
		Employee’s Remunerations and Benefits	30.119	23.018	19.216
		Administrative and Other Expenses	44.947	47.191	34.837
		Commission Paid	7.970	19.817	7.312
		Amortisation Expenses	0.000	1.340	3.383
		TOTAL	281.506	328.051	253.673
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		15.153	12.391	7.873
Less/ Add	DEPRECIATION/ AMORTISATION		3.515	3.332	2.719
	PROFIT BEFORE TAX		11.638	9.059	5.154
Less	TAX		4.074	2.718	1.592
	PROFIT AFTER TAX		7.564	6.341	3.562
	Earnings Per Share (Rs.)		252.13	211.37	118.73

Expected Sales (2012-2013) : Rs.450.000 Millions

The above information has been parted by Mr. Nilesh (Accounts Assistant)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.55	1.86	1.36
Net Profit Margin (PBT/Sales)	(%)	4.25	2.89	2.12
Return on Total Assets (PBT/Total Assets}	(%)	11.29	6.50	3.84
Return on Investment (ROI) (PBT/Networth)		0.47	0.54	0.49
Debt Equity Ratio (Total Liability/Networth)		3.19	7.25	11.85
Current Ratio (Current Asset/Current Liability)		1.57	1.90	1.55

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

(Rs. in Millions)

Particulars	31.03.2012	31.03.2011	31.03.2010
Sundry Creditors for expenses	NA	12.229	5.071
Total	NA	12.229	5.071

Sr. No.	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	(Yes)
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 three years	(Yes)
12]	Profitability for last three 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	(Yes)
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 involved in	----------------------
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)
31]	Date of Birth of Proprietor/Partner/Director, if available	(Yes)
32]	PAN of Proprietor/Partner/Director, if available	(No)
33]	Voter ID No of Proprietor/Partner/Director, if available	(No)
34]	External Agency Rating, if available	(No)

COMPANY OPERATION:

The company is engaged in to trading of industrial automation product, Fitness products. The company has tied up with few international Automation and Fitness Companies for their Indian operations. It has also diversified into management of Gym, Health Center etc. The directors are positive about the future prospectus and hope to improve profitability in to coming future

FIXED ASSETS:

v Computers

v Office Equipment

v Air Conditioner

v Furniture and Fixtures

v Motor Car

v Gym Equipment

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.55.34
UK Pound	1	Rs.86.45
Euro	1	Rs.68.04

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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		45

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.