MIRA INFORM REPORT

Report Date :

14.12.2012

IDENTIFICATION DETAILS

Name :	SNP TECHNOLOGIES PRIVATE LIMITED
Registered Office :	215 South City Arcade, South City-I, Gurgaon – 122001, Haryana
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	20.06.2005
Com. Reg. No.:	05-035781
Capital Investment / Paid-up Capital :	Rs. 0.288 Million
CIN No.: [Company Identification No.]	U40106HR2005PTC035781
Legal Form :	Private Limited Liability Company
Line of Business :	Providing advanced technologies and products for Water Treatment, Water Proofing and Solar Energy.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 7000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company seems to have modest scale of operation. The company is still improving. However, trade relations are reported to be slow. Business is active. Payments are reported to be slow. The company can be considered for small 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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 (Financial Details)

Name :	Mr. Sandeep
Designation :	Director
Contact No.:	91-9810096552
Date :	12.12.2012

LOCATIONS

Registered Office :	215 South City Arcade, South City-I, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-2332254/ 2580132/ 4079193
Fax No.:	Not Available
E-Mail :	water@groupsnp.com
Website :	http://www.groupsnp.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Sandeep Chaudhary

Designation :

Whole-time director

Address :

A-90F, Greenwood City, Sec-45, Gurgaon – 122001, Haryana, India

Date of Appointment :

20.06.2005

DIN No.:

01298352

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	U40106HR2005PTC035781	SNP TECHNOLOGIES PRIVATE LIMITED	Whole-time director	20/06/2005	20/06/2005	Active	NO
2	U74140HR2012PTC045125	SNP SERVICES PRIVATE LIMITED	Director	15/02/2012	15/02/2012	Active	NO
3	U24200HR2012PTC045642	DCS CHEMICALS PRIVATE LIMITED	Director	15/11/2012	15/11/2012	Active	NO

Name :

Mrs. Aruna Singh

Designation :

Whole-time director

Address :

A-90F, Greenwood City, Sec-45, Gurgaon – 122001, Haryana, India

Date of Appointment :

20.06.2005

DIN No.:

01298524

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	U40106HR2005PTC035781	SNP TECHNOLOGIES PRIVATE LIMITED	Whole-time director	20/06/2005	20/06/2005	-	Active	NO
2	U74140HR2012PTC045125	SNP SERVICES PRIVATE LIMITED	Director	15/02/2012	15/02/2012	21/04/2012	Active	NO
3	U24200HR2012PTC045642	DCS CHEMICALS PRIVATE LIMITED	Director	16/04/2012	16/04/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Sandeep Chaudhary	14410
Aruna Singh	14410
Total	28820

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :

Providing advanced technologies and products for Water Treatment, Water Proofing and Solar Energy.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø State Bank of Travancore, DLF Phase-IV, Gurgaon – 122002, Haryana, India

Ø HDFC Bank Limited

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term Loan from Banks	1.488	2.425
Total	1.488	2.425
Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Loan from Directors	1.330	0.323
Loan from Others	0.250	2.550
Total	1.580	2.873

Banking Relations :	--
Financial Institution :	Bajaj Finance Limited
Auditors :
Name :	Kumar Vijay Gupta and Company Chartered Accountants
Address :	301, 3rd Floor, Apna Bazar, Gurgaon – 122001, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AABFV2413K

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
28,820	Equity Shares	Rs.10/- each	Rs. 0.288 Million

a. Reconciliation of the shares outstanding at the beginning and at the and of the reporting period

Equity Shares	No.	Rs. in millions
At the beginning of the period	28820	0.288
Issued during the period	--	--
Outstanding at the end of the period	28820	0.288

Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of 10 per share. Each of equity Shares is entitled to one vote per share.

In the event of liquidation of the company the holder of equity shares will be receive remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholder.

Details of shareholders holding more than 5% shares in the company

	No.	% holding in the class
Equity shares of 10 each fully paid
Sandeep Singh Chaudhary	14410	50.00
Aruna Singh	14410	50.00

As per records of the company, Including Its Register of Shareholders/ Members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

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		0.288	0.288	0.288
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.580	1.356	1.104
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.868	1.644	1.392
LOAN FUNDS
1] Secured Loans		1.488	2.425	1.232
2] Unsecured Loans		1.580	2.873	2.286
TOTAL BORROWING		3.068	5.298	3.518
DEFERRED TAX LIABILITIES		0.137	0.122	0.071
TOTAL		5.073	7.064	4.981
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.770	2.098	1.508
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	1.843	2.563	2.112
	Sundry Debtors	2.209	3.283	3.221
	Cash & Bank Balances	0.535	0.926	0.883
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.729	0.543	0.231
Total Current Assets		5.316	7.315	6.447
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.371	0.648	2.055
	Other Current Liabilities	0.525	1.632	0.683
	Provisions	0.117	0.069	0.236
Total Current Liabilities		2.013	2.349	2.974
Net Current Assets		3.303	4.966	3.473
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		5.073	7.064	4.981

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Turnover		13.020	15.071
		Other Income		N.A.	N.A.
		TOTAL (A)	N.A.	N.A.	N.A.
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	N.A.	N.A.	N.A.
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.820	0.880
Less	FINANCIAL EXPENSES (D)		0.194	0.267
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.626	0.613	0.953
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.269	0.241	0.183
	PROFIT BEFORE TAX (E-F) (G)		0.357	0.372	0.770
Less	TAX (H)		0.133	0.119	0.230
	PROFIT AFTER TAX (G-H) (I)		0.224	0.253	0.541
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.356	1.103	0.562
	BALANCE CARRIED TO THE B/S		1.580	1.356	1.103
	Earnings Per Share (Rs.)		7.77	8.77	18.77

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	N.A.	N.A.	N.A.
Net Profit Margin (PBT/Sales)	(%)	N.A.	2.86	5.11
Return on Total Assets (PBT/Total Assets}	(%)	5.04	3.95	9.73
Return on Investment (ROI) (PBT/Networth)		0.19	0.23	0.55
Debt Equity Ratio (Total Liability/Networth)		2.72	4.65	4.66
Current Ratio (Current Asset/Current Liability)		2.64	3.11	2.17

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	No
12]	Profitability for last three 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	No
19]	Payments terms	No
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

FIXED ASSETS:

Ø Furniture and Fixture

Ø Injection machine

Ø Mobile Instrument

Ø Computer Printer

Ø DVD Player

Ø Car

Ø Cycle

Ø Software

Ø Computer

Ø Air-Conditioner

Ø Audio System

Ø Inverter

Ø Motor Cycle

Ø TVS Scooty

Ø Testing Equipment

Ø Water Cooler

Ø Tata ACE Van

Ø Solar Energy Equipment

Ø Telephone

Ø LCD Display

Ø Gym Equipment

Ø Projector

Ø Security System

Ø Vending machine

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. 54.23
UK Pound	1	Rs. 87.53
Euro	1	Rs. 70.94

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.