MIRA INFORM REPORT

Report Date :

07.02.2012

IDENTIFICATION DETAILS

Name :	DRR ENTERPRISES PRIVATE LIMITED
Registered Office :	Koti Nilayam, Plot No. 174, Phase I, Saket, Kapra, ECIL Post, Hyderabad – 500062, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.10.2009
Com. Reg. No.:	01-065355
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U51909AP2009PTC065355
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of door frames, window frames, teak wood etc.
No. of Employees :	17 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B [26]

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

Maximum Credit Limit :	USD 10000
Status :	Recently Commenced Business
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Though the company was incorporated in the year 2009. it has started its business activities from February, 2011. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Ramachandra Reddy Danda
Designation :	Managing Director
Contact No.:	91-995770888
Date :	23.01.2012

LOCATIONS

Registered Office :	Koti Nilayam, Plot No. 174, Phase I, Saket, Kapra, ECIL Post, Hyderabad – 500062, Andhra Pradesh, India
Tel. No.:	91-40-27112269 / 40075195
Mobile No.:	91-9985770888 [Mr. Ramachandra Reddy]
Fax No.:	91-40-40075195
E-Mail :	Ramachandra_dr@rediffmail.com drrepl@in.com
Website :	http://www.drrenterprises.com
Location :	Owned
Factory :	Located at : Andhra Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Ramachandra Reddy Danda

Designation :

Managing Director

Address :

Koti Nilayam, Plot No. 174, Phase I, Saket, Kapra, ECIL Post, Hyderabad – 500062, Andhra Pradesh, India

Date of Birth/Age :

25.12.1965

Date of Appointment :

23.03.2011

DIN :

02791365

Name :

Mrs. Madhavi Reddy Danda

Designation :

Director

Address :

Koti Nilayam, Plot No. 174, Phase I, Saket, Kapra, ECIL Post, Hyderabad – 500062, Andhra Pradesh, India

Date of Birth/Age :

19.05.1971

Date of Appointment :

07.10.2009

DIN :

02791374

Name :

Mr. Nune Alluri Reddy

Designation :

Additional Director

Address :

35-37/3, GK Colony, Sainik Puri, Neredmetx RDS., Hyderabad – 500094, Andhra Pradesh, India

Date of Birth/Age :

28.02.1964

Date of Appointment :

23.03.2011

DIN :

01830149

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U24233AP2008PTC058532	BEES BIO-CHEMICALS PRIVATE LIMITED	Director	4/4/2008	4/4/2008	Active	YES
2	U51909AP2009PTC065355	DRR ENTERPRISES PRIVATE LIMITED	Additional director	2/5/2011	23/03/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ramachandra Reddy Danda	9000
Madhavi Reddy Danda	1000
Total	10000

As on 30.09.2011

Equity Share Break Up Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Importer of door frames, window frames, teak wood etc.
Products :	Teak Wood Door Frames Window Frames Plywood, MDF Teak Wood Doors Doors and Window Accessories [Hardware]
Imports :
Products :	Teak Wood
Countries :	Aftrica
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Customers :

• Building Construction

No. of Employees :

17 [Approximately]

Bankers :

Central Bank of India, Khairthabad, Hyderabad - 500034, Andhra Pradesh, India

State Bank of India

Facilities :

Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Loan From Directors	2.350	0.000
Total	2.350	0.000

Banking Relations :	--
Auditors :
Name :	VSMB and Associates Chartered Accountants
Address :	8-2-205, Kummarguda, Secunderabad – 500033, Andhra Pradesh, India
PAN :	AAGFM6901N

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		2.350	0.200
3] Reserves & Surplus		0.088	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		2.538	0.300
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.350	0.000
TOTAL BORROWING		2.350	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.888	0.300
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.349	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.004	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.500	0.000
	Sundry Debtors	1.833	0.000
	Cash & Bank Balances	0.338	0.189
	Other Current Assets	0.024	0.000
	Loans & Advances	2.109	0.000
Total Current Assets		4.804	0.189
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities	0.325	0.021
	Provisions	0.049	0.000
Total Current Liabilities		0.374	0.021
Net Current Assets		4.430	0.168
MISCELLANEOUS EXPENSES		0.105	0.132
TOTAL		4.888	0.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	2.715
		Other Income	0.247
		TOTAL	2.962
Less	EXPENSES
		Material Consumed	2.087
		Administrative Expenses	0.614
		Preliminary Expenses written off	0.026
		TOTAL	2.727
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION		0.235
Less/ Add	DEPRECIATION/ AMORTISATION		0.101
	PROFIT / [LOSS] BEFORE TAX		0.134
Less	TAX		0.045
	PROFIT / [LOSS] AFTER TAX		0.089
	BALANCE CARRIED TO THE B/S		0.089
	Earnings/[Loss] Per Share (Rs.)		8.90

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	3.00	NA
Net Profit Margin (PBT/Sales)	(%)	4.93	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.60	NA
Return on Investment (ROI) (PBT/Networth)		0.05	NA
Debt Equity Ratio (Total Liability/Networth)		1.07	0.07
Current Ratio (Current Asset/Current Liability)		12.84	9.00

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	No
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Bankers Charges Report as per Registry

Corporate identity number of the company	U51909AP2009PTC065355
Name of the company	DRR ENTERPRISES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Koti Nilayam, Plot No. 174, Saket, Kapra, ECIL Post, Hyderabad – 500062, Andhra Pradesh, India
This form is for	Creation of charge
Type of charge	Movable Property Floating Charge
Particular of charge holder	Central Bank of India, Khairthabad, Hyderabad - 500034, Andhra Pradesh, India Email : bmvija825@centralbank.co.in
Nature of instrument creating charge	Overdraft Agreement Dated 26/05/2011 Supplementary Agreement Dated 26/05/2011 Letter of Continuity Dated 26/05/2011
Date of instrument Creating the charge	26.05.2011
Amount secured by the charge	Rs.7.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - BR+3% over bank's prime lending rate per annum Terms of Repayment - on demand subject to annual review Margin - NA Extent and Operation of the charge - Overdraft of Rs.7.000 millions governed by the terms and conditions of the charges.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Floating charge on the assets of the company where ever situate. Equitable mortgage residential house property of Mr D Ramachandra Reddy: Plot No. 174, Phase I, Saket Colony, ECIL Post, Kapra, Hyderabad-500062 Equitable mortgage residential plot of Mrs Nune Aruna w/o n Alluri Reddy, Director of the company: Plot No: 67/C, Hig, Nallagandla Village, Serilingampally Mandal, R R District

FIXED ASSETS :

§ Furniture and Fixtures

§ Computer

§ Printer

§ Laptop

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.48.67
UK Pound	1	Rs.76.75
Euro	1	Rs.63.56

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--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	NO
--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		26

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.