MIRA INFORM REPORT

Report Date :

20.08.2012

IDENTIFICATION DETAILS

Name :	DEEPAK HYDRAULICS (INDIA) PRIVATE LIMITED
Registered Office :	A-27/3, Mayapuri Industrial Area, Phase - 1, Near Community Centre, New Delhi – 110064
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.11.1995
Com. Reg. No.:	55-074003
Capital Investment / Paid-up Capital :	Rs. 0.500 million
CIN No.: [Company Identification No.]	U74899DL1995PTC074003
TAN No.: [Tax Deduction & Collection Account No.]	DELD03785F
PAN No.: [Permanent Account No.]	AAACD5559N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Scientific and Engineering Instruments
No. of Employees :	20 (Approximately)

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 2000
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively small company in its field. It is having moderate track. Trade relations are reported as improving. Business is active. Payments are reported to be slow. The company can be considered for small business dealings with some caution.

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. Vidya Sagar
Designation :	Director
Contact No.:	91-9810200980
Date :	18.08.2012

LOCATIONS

Registered Office/ Factory :	A-27/3, Mayapuri Industrial Area, Phase - 1, New Delhi – 110 064, India
Tel. No.:	91-11-28116038 / 25137758
Mobile No.:	91-9810200980 (Mr. Vidya Sagar)
Fax No.:	91-11-28117758
E-Mail :	skgass@airtelbroadband.in deepakhydraulics@gmail.com email4dhl@yahoo.co.in
Website :	http://www.deepakhydraulics.com
Area :	358 sq. yards
Location :	Owned

DIRECTORS

AS ON 29.09.2011

Name :	Mr. Vidya Sagar
Designation :	Whole Time Director
Address :	C – 216, Hari Nagar, New Delhi – 110064, India
Date of Birth/Age :	19.11.1971
Qualification :	B.Com
Date of Appointment :	20.11.1995
Voter ID No.:	DL/02/013/243110
DIN No.:	00169204
Name :	Mr. Suresh Kumar
Designation :	Whole Time Director
Address :	C – 216, Hari Nagar, New Delhi – 110064, India
Date of Birth/Age :	19.09.1963
Qualification :	HSC
Date of Appointment :	20.11.1995
Voter ID No.:	DL/02/013/243363
DIN No.:	00168579
Name :	Mr. Banwari Lal Sharma
Designation :	Managing Director
Address :	C – 216, Hari Nagar, New Delhi – 110064, Delhi, India
Date of Birth/Age :	08.05.1941
Qualification :	B.Com
Date of Appointment :	15.04.2005
Voter ID No.:	DL/02/013/243411
DIN No.:	00169306
Name :	Ms. Narbada Devi
Designation :	Director
Address :	C – 216, Hari Nagar, New Delhi – 110064, Delhi, India
Date of Birth/Age :	18.07.1946
Qualification :	SSC
Date of Appointment :	20.11.1995
Voter ID No.:	DL/02/013/243409
DIN No.:	00168754

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2011

Names of Shareholders	No. of Shares
Vidya Sagar	22500
Suresh Kumar	22500
Narbada Devi	4800
Banwari Lal Sharma	100
Narayanan Sankara	100
TOTAL	50000

AS ON 29.09.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	99.80
Other top fifty shareholders	0.20
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Scientific and Engineering Instruments

Products :

· Engineering Equipments

· Compression Testing Machines

· Scientific Equipments

Product Description	Item Code No. (ITC Code)
Testing Machine	902480
Parts	902490

Exports :

Products :

· Scientific and Engineering Instruments

Countries :

· Dubai

· Bangladesh

· Nepal

Terms :

Selling :

Cash, Credit

Purchasing :

Cash, Credit

PRODUCTION STATUS (AS ON : 31.03.2010)

Particulars	Unit	Actual Production
Compression Testing Machine	Pieces	174
Spare Parts	Pieces	680

GENERAL INFORMATION

Customers :

· End Users

· Distributors

No. of Employees :

20 (Approximately)

Bankers :

· Standard Chartered Bank

· Citi Bank

· HDFC Bank Limited

Facilities :

Standard Chartered Bank Over Draft Limit Rs. 5.600 Millions
Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Standard Chartered Bank – OD A/c	4.952	4.979
Citi Bank	0.000	0.196
TOTAL	4.952	5.175
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Sh. Vidya Sagar	0.850	0.550
Sh. Banwari Lal Sharma	0.100	0.000
Sh. Narbada Devi	0.200	0.000
Sh. Suresh Kumar	0.755	0.555
TOTAL	1.905	1.105

Banking Relations :	--
Auditors :
Name :	S. K. Gulati and Associates Chartered Accountants
Address :	A – 3, Rajouri Garden, New Delhi – 110027, Delhi, India
Tel. No.:	91-11-41447601-02
Fax No.:	91-11-41447603
E-Mail :	skgass@gmail.com
PAN No.:	AAAFS8511L

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 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		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.113	0.073	0.035
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.613	0.573	0.535
LOAN FUNDS
1] Secured Loans		4.952	5.175	1.957
2] Unsecured Loans		1.905	1.105	1.105
TOTAL BORROWING		6.857	6.280	3.062
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.470	6.853	3.597
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.023	0.718	0.911
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	5.586	5.526	2.797
	Sundry Debtors	1.554	2.770	1.915
	Cash & Bank Balances	0.227	0.067	0.136
	Other Current Assets	0.087	1.257	0.022
	Loans & Advances	0.000	0.000	0.312
Total Current Assets		7.454	9.620	5.182
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.249	2.133	1.264
	Other Current Liabilities	0.711	1.315	1.170
	Provisions	0.047	0.037	0.062
Total Current Liabilities		3.007	3.485	2.496
Net Current Assets		4.447	6.135	2.686
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.470	6.853	3.597

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	14.872	13.351	14.549
		Other Income
		TOTAL	14.872	13.351	14.549
Less	EXPENSES
		Office Expenses	14.509	13.073	14.258
		Administrative Expenses
		Advertising Expenses
		TOTAL	14.509	13.073	14.258
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.363	0.278	0.291
Less/ Add	DEPRECIATION/ AMORTISATION		0.277	0.203	0.261
	PROFIT BEFORE TAX		0.086	0.075	0.030
Less	TAX		0.047	0.037	0.062
	PROFIT AFTER TAX		0.039	0.038	(0.032)
	Earnings Per Share (Rs.)		0.79	0.76	(0.64)

Particulars	31.03.2012
Sales Turnover (Approximately)	19.083

Expected Sales (2012-2013) : Rs. 25.000 Millions

The above information has been parted by Mr. Vidya Sagar.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.26	0.28	(0.22)
Return on Total Assets (PBT/Total Assets}	(%)	0.82	0.73	0.49
Return on Investment (ROI) (PBT/Networth)		0.14	0.13	0.06
Debt Equity Ratio (Total Liability/Networth)		16.09	17.04	10.39
Current Ratio (Current Asset/Current Liability)		2.48	2.76	2.08

LOCAL AGENCY FURTHER INFORMATION

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
34]	External Agency Rating, if available	No

NOTE

Registered Office of the company has been shifted from A-27/3, Mayapuri Industrial Area, Phase-II, New Delhi – 110064, Delhi, India to the present address w.e.f. 30.06.2009

FINANCIAL RESULTS

The Balance Sheet and Profit and Loss Account have been in the hands and they take them as received. During the year the turnover of the company was Rs. 14.872 millions and the company earned Net Profit of Rs.0.086 million after providing depreciation of Rs. 0.277 million on fixed assets. The company has provided Rs. 0.047 million towards Income Tax. The directors hope to deliver better results in the years to come.

FIXED ASSETS

· Machinery

· Generator

· Furniture and Fixture

· Scooter Motor Cycle

· Air Conditioner

· Water Cooler

· Computer

· Communication Equipment

· Lifesaver Equipment

· Fan

· Inverter

· Cellular Phone

· Fire Extinguisher

· Cycle

· CCTV 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. 55.70
UK Pound	1	Rs. 87.54
Euro	1	Rs. 68.85

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

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