MIRA INFORM REPORT

Report Date :

27.08.2012

IDENTIFICATION DETAILS

Name :	EXCELSIOR DESIGN AND PROJECT CONSOLIDATED PRIVATE LIMITED
Registered Office :	Kailash Towers, 2nd floor, Off Western Express Highway, Andheri East, Mumbai – 400069, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.06.1990
Com. Reg. No.:	11-056923
Capital Investment / Paid-up Capital :	Rs. 0.836 Million
CIN No.: [Company Identification No.]	U74999MH1990PTC056923
TAN No.: [Tax Deduction & Collection Account No.]	MUME01932A / MUME05429E
PAN No.: [Permanent Account No.]	AAACE6376Q
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Exporter, Designer, Supplier of custom engineered Thermal Processing Systems.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (37)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 15000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profitability of the company appears to be low. However, trade relation are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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 (General Details)

Name :	Ms. Reshma
Designation :	Account Officer
Contact No.:	91-22-65701120
Date :	25.08.2012

LOCATIONS

Registered Office :	Kailash Towers, 2nd floor, Off Western Express Highway, Andheri East, Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-65701120 / 26838242
Fax No.:	91-22-26838242 / 26844239
E-Mail :	edpcpl@gmail.com

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Sanjive Ashoka Prasad

Designation :

Director

Address :

Beach House Park, F 3, Gandhigram Road, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

20.06.1990

Date of Appointment :

20.06.1990

DIN No.:

02011555

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	U28920MH1986PLC040875	ULTRA DRYTECH ENGINEERING LIMITED	Whole-time director	10/09/1986	10/09/1986	01/04/2010	Active	NO
2	U74999MH1990PTC056923	EXCELSIOR DESIGN AND PROJECT CONSOLIDATED PRIVATE LIMITED	Director	20/06/1990	20/06/1990	-	Active	NO
3	U74999RJ1994PTC009115	MICRO FILLERS PRIVATE LIMITED	Director	01/12/1994	01/12/1994	-	Dormant	NO
4	U29253MH2010PTC201351	ULTRA DRYTECH ENGINEERING PROJECTS PRIVATE LIMITED	Director	26/03/2010	26/03/2010	-	Active	NO

Name :

Mr. Anansh Sanjive Prasad

Designation :

Additional director

Address :

Beach House Park, F 3, Gandhigram Road, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

20.06.1990

Date of Appointment :

01.04.2010

DIN No.:

02775007

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	Company/ LLP Status	Defaulting status
1	U29253MH2010PTC201351	ULTRA DRYTECH ENGINEERING PROJECTS PRIVATE LIMITED	Director	26/03/2010	26/03/2010	Active	NO
2	U74999MH1990PTC056923	EXCELSIOR DESIGN AND PROJECT CONSOLIDATED PRIVATE LIMITED	Additional director	01/04/2010	01/04/2010	Active	NO

KEY EXECUTIVES

Name :	Ms. Reshma
Designation :	Account Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Sanjive Ashoka Prasad	100
Sanjive Ashoka Prasad jointly with Ragini Sanjive Prasad	55100
Anansh Sanjive Prasad	28400
Total	83600

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Exporter, Designer, Supplier of custom engineered Thermal Processing Systems.
Exports :
Products :	Thermal Processing Systems
Countries :	UAE
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Customers :

Manufacturer

• Chemanot Methanol Chemicals
• Citycat Overseas Chemicals Limited
• Indian Aluminium Company Limited
• Inveneeta Chemicals Limited
• Rubamin Limited
• Sama Chemo Pharma Private Limited
• Sud Chemie Spares
• Unity Orgnics
• Ultra Dyetech Engineering Private Limited
• National Paint Factories
• Prasad International
• Pranoflax (India) Private Limited

No. of Employees :

Not Divulged

Bankers :

The Saraswat Co-operative Bank Limited, Mahusagar, N.S. Road No. 13, Juhu, Mumbai – 400049, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Chola Mandalam	20.889	0.000
Total	20.889	0.000

Banking Relations :	--
Auditors :
Name :	Sanjay Mehra Associates Chartered Accountants
Address :	210, Shoppers Point, Cama Road, Andheri West, Mumbai – 400053, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AABPM0190J

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
150,000	Equity Shares	Rs. 10/- each	Rs. 1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
83,600	Equity Share	Rs.10/- each	Rs. 0.836 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		0.836	0.836	0.836
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.953	1.153	0.000
4] (Accumulated Losses)		0.000	0.000	(0.703)
NETWORTH		3.789	1.989	0.133
LOAN FUNDS
1] Secured Loans		20.889	0.000	0.925
2] Unsecured Loans		0.000	0.000	0.959
3] Deposit from Parties		2.900	2.900	3.500
TOTAL BORROWING		23.789	2.900	5.384
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		27.578	4.889	5.517
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.390	0.512	2.294
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		11.176	11.160	11.160
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.636	0.876	1.246
	Sundry Debtors	5.311	2.975	4.297
	Cash & Bank Balances	1.558	1.302	0.019
	Other Current Assets	43.380	35.983	11.212
	Loans & Advances	11.605	9.666	4.486
Total Current Assets		62.490	50.802	21.260
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	27.408	17.199	22.061
	Other Current Liabilities	16.039	37.578	4.761
	Provisions	3.031	2.808	2.375
Total Current Liabilities		46.478	57.585	29.197
Net Current Assets		16.012	(6.784)	(7.937)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		27.578	4.889	5.517

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	122.247	41.697	N.A.
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	120.325	39.721	N.A.
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.922	1.976	N.A.
Less/ Add	DEPRECIATION/ AMORTISATION		0.122	0.121	N.A.
	PROFIT BEFORE TAX		1.800	1.855	N.A.
Less	TAX		0.000	0.000	N.A.
	PROFIT AFTER TAX		1.800	1.855	N.A.
	Earnings Per Share (Rs.)		360.00	371.09	N.A.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.47	4.45
Return on Total Assets (PBT/Total Assets}	(%)	2.86	3.61	N.A.
Return on Investment (ROI) (PBT/Networth)		0.48	0.93
Debt Equity Ratio (Total Liability/Networth)		18.54	30.41	260.01
Current Ratio (Current Asset/Current Liability)		1.34	0.88	0.73

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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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

FIXED ASSETS:

• Land, Building and Office
• Furniture and Fixture
• Office Equipment
• Air Conditioner
• Computer
• Motor Car
• Mobile and Accessories

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 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. 55.38
UK Pound	1	Rs. 87.80
Euro	1	Rs. 69.48

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		37

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

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.