MIRA INFORM REPORT

Report Date :

23.08.2012

IDENTIFICATION DETAILS

Name :	ENVIRO TECH INSTRUMENTS PRIVATE LIMITED
Registered Office :	A-271, Okhla Industrial Area, Phase – I, New Delhi – 110020
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.11.1983
Com. Reg. No.:	55 - 016927
Capital Investment / Paid-up Capital :	Rs. 1.781 millions
CIN No.: [Company Identification No.]	U74899DL1983PTC016927
TAN No.: [Tax Deduction & Collection Account No.]	DELE00052D
PAN No.: [Permanent Account No.]	AAACE2802R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Air Pollution Monitoring Instruments.
No. of Employees :	40 (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 70000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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.

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. Devendra Chauhan
Designation :	Sales Executive
Contact No.:	91-11-26813887
Date :	20.08.2012

LOCATIONS

Registered Office / Factory :	A-271, Okhla Industrial Area, Phase – I, New Delhi – 110020, India
Tel. No.:	91-11-26813887 / 26814139
Mobile No.:	91-9899166708 (Mr. Anuj Goel)
Fax No.:	91-11-26810591 / 1833
E-Mail :	envirotech@vsnl.com akjtax@gmail.com
Website :	www.envirotechindia.com
Area :	10000 Sq. ft.
Location :	Owned

DIRECTORS

As on 24.09.2011

Name :

Mr. Rakesh Agarwal

Designation :

Managing Director

Address :

B-117, Sarita Vihar, New Delhi – 110044, India

Date of Birth/Age :

01.05.1954

Date of Appointment :

10.11.1983

DIN No.:

00862850

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1983PTC016927	ENVIRO TECH INSTRUMENTS PRIVATE LIMITED	MANAGING DIRECTOR	07/04/2008	10/11/1983	-	Active	NO

Name :

Mr. Shyam K. Gupta

Designation :

Director

Address :

2/37, Sarvapriya Vihar, New Delhi – 110016, India

Date of Birth/Age :

19.10.1945

Date of Appointment :

10.11.1983

DIN No.:

00851593

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1983PTC016927	ENVIRO TECH INSTRUMENTS PRIVATE LIMITED	Director	07/04/2008	10/11/1983	-	Active	NO
2	U74899DL1987PTC029919	VAYU BODHAN UPKARAN PRIVATE LIMITED	Director	21/10/1989	21/10/1989	-	Active	NO
3	U72200DL1999PTC101822	GEN-EX INFOTECH PRIVATE LIMITED	Director	25/01/2000	25/01/2000	30/06/2008	Strike off	NO
4	U29246AP2009PTC062545	ENVIROTECH ONLINE EQUIPMENTS PRIVATE LIMITED	Whole-time director	30/05/2009	30/05/2009	-	Active	NO

MAJOR SHAREHOLDERS

As on 24.09.2011

Names of Shareholders (Equity Shareholders)	No. of Shares
Shri Shyam Krishan Gupta	581
Shri Rakesh Agarwal	251
Raghav Gupta	350
Ms. Shalini Gupta	740
Smt. Madhu Gupta	700
Mr Rajat Gupta	200
Mr. Neeraj Gupta	300
Ms. Priyanka Gupta	200
Smt. Vinita Agarwal	600
Mr Rajat Agarwal	370
Smt. Puspa Agarwal	300
Mr Raman Agarwal	360
Dr. G. D. Agarwal	100
Mr. Ashwani Agarwal	160
Anil Kumar	150
Smt. Preeti Goyal	100
Niranjan Swaroop Agarwal and Pooja Agarwal	100
Mr. Alok Gupta	100
Rekha Rani	50
Mr. Abhishekh Swaroop	150
Smt. Sneh Gupta	100
Mrs. Rashmi Rani	100
Chetan Garg	150
Ms. Suchi Agarwal	190
Shri Sudhanshu Agarwal	150
Shri Tushar Garg	100
Ms. Rashi Jain	310
Mr. Sanjay Saraf	200
Shri Ashish Gupta	20
Dr. H. S. Matharu	100
Shri M. L. Tikhe	100
Smt. Shahnaz Siddiqi	50
Dr. Inder Mani Mishra	50
Shri R.T.N. Bali	52
Shri P. C. Tyagi	100
Moti Lal Gupta	10
Ms. Dipti Sharma and Divya Sharma	10
Mrs. Prem Panesar	10
Mrs. Vijaya Jain & Vinita AvgarwalShri	50
Dr. Rajendra Prasad	100
TOTAL	7814

As on 24.09.2011

Names of Shareholders (Preference Shareholders)	No. of Shares
M/s Harjee Exports Private Limited, India	3000
Mr. Raman Agarwal	750
Mr. Rajat Agarwal	750
Shri Rakesh Agarwal	500
Mrs. Madhu Gupta	1850
Mr. Raghav Gupta	2030
Shri S. K. Gupta	1120
TOTAL	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	60.00
Others	40.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Air Pollution Monitoring Instruments.
Products :	· Air Pollution Monitoring Systems for Monitoring Stack Emission · Ambient Air Quality · Shop Floor Environment · Pressure Exposure and Meteorology · Stock Monitors · High Volume Samples · Organic Vapor Samplers · Personal Monitors · Local Air Quality Samplers · Handy Samplers · Wind Monitors
Exports :
Products :	· Air Pollution Monitoring Instruments
Countries :	· Saudi Arabia · Dubai · Qutar · Bhutan · Nepal
Imports :
Products :	· Raw Material
Countries :	· Australia
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Wind Monitoring System	Nos	Nil	60	57
Respirable Dust Samplers	Nos	Nil	600	516
Personal Samplers	Nos	Nil	210	76
Handy Sampler	Nos	Nil	100	41
Organic Vapour Sampler	Nos	Nil	50	28
Fine Particulate Sampler	Nos	Nil	800	556
Sound Level Meter	Nos	Nil	50	39

GENERAL INFORMATION

Customers :

· End Users

No. of Employees :

40 (Approximately)

Bankers :

· HDFC Bank, New Delhi

· ICICI Bank, New Delhi

· Standard Chartered Bank, New Delhi

· Corporation Bank, M - 3 and 4, Greater Kailash – II, New Delhi – 110048, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Secured against Vehicles From
ICICI Bank	0.116	0.165
Corporation Bank	0.819	1.008
HDFC Bank	0.183	0.312
Kotak Mahindra Bank Limited	0.166	0.249
Total	1.284	1.734
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Debentures (non convertible, redeemable)	3.260	2.475
Other Loans	1.500	3.020
Total	4.760	5.495

Banking Relations :	--
Auditors :
Name :	Anil K. Jain and Company Chartered Accountants
Address :	18/3, Arya Samaj Road, Karol Bagh, New Delhi – 110005, India
PAN No.:	AALPJ7184K
Memberships :	· CII · SSI · NSIC · FICCI · IAAPC
Associates/Subsidiaries :	· Touchwood Private Limited, India · Harjee Exports Private Limited, India · Vayubodhan Upkaran Private Limited, India · Ecotech Instruments, India · Envirotech Online Equipments Private Limited, India

CAPITAL STRUCTURE

As on 24.09.2011

Authorized Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 100/- each	Rs. 1.000 million
10000	Preference Shares	Rs. 100/- each	Rs. 1.000 million
	TOTAL		Rs. 2.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
7814	Equity Shares	Rs. 100/- each	Rs. 0.781 million
10000	Preference Shares	Rs. 100/- each	Rs. 1.000 millions
	TOTAL		Rs. 1.781 millions

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		1.781	1.781	1.781
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		17.832	12.773	9.466
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19.613	14.554	11.247
LOAN FUNDS
1] Secured Loans		1.284	1.734	0.957
2] Unsecured Loans		4.760	5.495	5.155
TOTAL BORROWING		6.044	7.229	6.112
DEFERRED TAX LIABILITIES		0.408	0.436	0.444
TOTAL		26.065	22.219	17.803
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.053	5.376	4.396
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.050	0.050	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.042	7.255	5.719
	Sundry Debtors	40.274	34.783	22.857
	Cash & Bank Balances	4.496	5.468	9.639
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.626	4.060	3.691
Total Current Assets		66.438	51.566	41.906
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	28.810	22.311	17.679
	Other Current Liabilities	13.849	10.397	9.010
	Provisions	2.817	2.065	1.810
Total Current Liabilities		45.476	34.773	28.499
Net Current Assets		20.962	16.793	13.407
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		26.065	22.219	17.803

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	162.305	104.983	91.641
		Other Income	0.518	0.916	0.768
		TOTAL	162.823	105.899	92.409
Less	EXPENSES
		Increase / (Decrease) of Stock of Finished Goods	1.259	(1.217)	0.093
		Manufacturing Expenses	124.168	77.075	59.604
		Administrative Expenses	17.498	17.675	21.296
		Selling Expenses	11.482	6.710	6.019
		Fluctuation in Foreign Currency	0.004	(0.175)	0.305
		TOTAL	154.411	100.068	87.317
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		8.412	5.831	5.092
Less/ Add	DEPRECIATION/ AMORTISATION		0.564	0.466	0.569
	PROFIT BEFORE TAX		7.848	5.365	4.523
Less	TAX		2.422	1.690	1.566
	PROFIT AFTER TAX		5.426	3.675	2.957
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10.298	6.991	4.729
	BALANCE CARRIED TO THE B/S		15.724	10.665	7.686
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	0.970	3.301	NA
	TOTAL EARNINGS		0.970	3.301	NA
	IMPORTS
		Raw Materials and Components	27.424	3.833	13.860
	TOTAL IMPORTS		27.424	3.833	13.860
	Earnings Per Share (Rs.)		3.04

Particulars	31.03.2012
Sales Turnover (Approximately)	162.500

Expected Sales (2012-13): Rs. 200.000 millions

The above information has been parted by Mr. Devendra Chauhan.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.33	3.47	3.19
Net Profit Margin (PBT/Sales)	(%)	4.83	5.11	4.93
Return on Total Assets (PBT/Total Assets}	(%)	10.97	9.42	9.76
Return on Investment (ROI) (PBT/Networth)		0.40	0.36	0.40
Debt Equity Ratio (Total Liability/Networth)		2.62	2.88	3.07
Current Ratio (Current Asset/Current Liability)		1.46	1.48	1.47

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	Yes
17]	Major suppliers	No
18]	Major customers	Yes
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	No
34]	External Agency Rating, if available	No

CONTINGENT LIABILITIES – Not provided for in respect of

a) Letter of credit/Bank Guarantees outstanding Rs. 2.760 millions.

b) Disputed excise duty, sales/Vat taxes liability Rs… Nil

c) Claims acknowledged against the company- Rs. Nil

d) Contracts remaining to be executed on Capital Account – Rs. Nil.

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	90333352
Corporate identity number of the company	U74899DL1983PTC016927
Name of the company	ENVIRO TECH INSTRUMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A - 271, Okhla Industrial Area, Phase – I, New Delhi – 110020, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	Corporation Bank, M - 3 and 4, Greater Kailash – II, New Delhi – 110048, India e-mail: mallyashenoyca@rediffmail.com
Nature of description of the instrument creating or modifying the charge	Common deed of hypothecation of movables / assets / debts and Guarantee Agreement
Date of instrument Creating the charge	30.01.2008
Amount secured by the charge	Rs. 5.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanctioned terms. Terms of Repayment As per sanctioned terms. Margin Cash Margin 25%. Extent and Operation of the charge The hypothecated assets is to secure Bank Guarantee limit of Rs.5.000 millions granted by Corporation Bank to the company.
Short particulars of the property charged	All the present and future stocks of goods, which now belong to and may hereafter during the subsistence of the borrowers liability belong to the borrowers and which are /shall/ may be brought into / stored or be in / upon the borrowers premises / godowns or any other premises / whereas else or in course of transit / delivery to the borrowers book debts of the company, movable assets and fixed assets of the company barring land and building.
Particulars of the present modification	The Bank Guarantee limits stands enhanced from Rs.2.500 millions to Rs.5.000 millions to be continue secure by Hypothecation assets. Other terms and condition remain the same.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Fixture and Furniture

· Office Equipment

· Vehicles

· Pollution Control

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.55.54
UK Pound	1	Rs.87.39
Euro	1	Rs.68.71

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NID

SCORE & RATING EXPLANATIONS

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