MIRA INFORM REPORT

Report Date :

13.02.2012

IDENTIFICATION DETAILS

Name :	CAPRO VALVES AND CONTROLS PRIVATE LIMITED
Registered Office :	Gala No. 5, Surat Singh Chawl Estate, Behind Agarwal Industrial Estate, Off. S.V. Road, Jogeshwari (West), Mumbai – 400102, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.04.2004
Com. Reg. No.:	11-146043
Capital Investment / Paid-up Capital :	Rs.0.170 Million
CIN No.: [Company Identification No.]	U27200MH2004PTC146043
TAN No.: [Tax Deduction & Collection Account No.]	MUMC14843D
PAN No.: [Permanent Account No.]	AHBPN9623R AACCC4119R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Industrial Valves.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 5000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – 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. Machindra
Designation :	Marketing Manager
Contact No.:	91-22-26771951
Date :	10.12.2012

LOCATIONS

Registered Office/ Factory :	Gala No. 5, Surat Singh Chawl Estate, Behind Agarwal Industrial Estate, Off. S.V. Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India
Tel. No.:	91-22-26771951
Fax No.:	91-22-26771951
E-Mail :	caprovalve@yahoo.com tendulkar_s2006@yahoo.co.in
Website :	www.caprovalves.com
Area :	800 Sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2010

Name :

Mr. Ashish Ravikant More

Designation :

Director

Address :

B – 9, Raj Bhavan CHSL, Behind Jumbo Darshan, N.S. Phadke Road, Andheri (East), Mumbai-400067, Maharashtra, India

Date of Birth/Age :

16.01.1972

Qualification :

Engineer

Date of Appointment :

30.04.2004

DIN No.:

 00299070

Name :

Mr. Natrajan Subramanian Chittur

Designation :

Director

Address :

4/38, Pallavi, Behind Don Bosco, Matunga, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

12.01.1955

Qualification :

Graduate

Date of Appointment :

30.04.2004

DIN No.:

02451352

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U99999MH1990PTC055444	Fluidtecq Pneumatics Private Limited	Director	14/02/1990	14/02/1990	-	Active	NO
U27200MH2004PTC146043	Capro Valves and Controls Private Limited	Director	30/04/2004	30/04/2004	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Machindra
Designation :	Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Ashish Ravikant More	5000
Natrajan Subramanian Chittur	12000
Total	17000

As on 10.08.2011

Names of Allottees	No. of Shares
Natrajan Subramanian Chittur	13000
Ashish Ravikant More	20000
Total	33000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Industrial Valves.
Exports :
Products :	Industrial Valves
Countries :	· Egypt · Saudi Arabia
Terms :
Selling :	Cash/ Credit (30 days)
Purchasing :	Cash/ Credit (30 days)

GENERAL INFORMATION

Suppliers :

· A to Z Manufacturing Company

· Besto Plast

· Madho Controls

· Om Steel

· Bimla Engineering Concern

· Parekh Brothers

· Victor Coporation

· Sanghvi Enterprises

· Shah Tube Company

· Pawar Industries

· Giriraj Enterprises

· C.P. Valve Industries

Customers :

· ABB Limited

· Autocon India

· Ballice System and Controls Private Limited

· Ducon Engineers

· Flowtech Systems Private Limited

· Pravin Industries Private Limited

· Fluidtecq Pneumatics Private Limited

· JSW Steel Limited

· Spectec

· Viraj Profiles Limited

· Visen Industries Limited

· Congent Engineers Private Limited

No. of Employees :

15 (Approximately)

Bankers :

Kotak Mahindra Bank, Mulund Branch, Mumbai, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Kotak Mahindra Bank Limited	0.164	0.265
Total	0.164	0.265
Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Friends and Relatives	0.097	0.000
Kotak Mahindra Bank Limited	0.000	0.097
Total	0.097	0.097

Banking Relations :	--
Auditors :
Name :	Satish Subbana Shetty Chartered Accountant
Address :	301, Rose Manor Building, Mith Chowky, Malad (West), Mumbai – 400064, Maharashtra, India
Tel. No.:	91-22-28822538
Mobile No.:	91-9987385788
PAN.:	AAFPS8099G
Associates/Subsidiaries :	Fluidtecq Pneumatics Private Limited

CAPITAL STRUCTURE

After 30.09.2010

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

As on 31.03.2010

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
17000	Equity Shares	Rs.10/- each	Rs.0.170 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.170	0.170	0.170
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.270	0.852	0.465
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.440	1.022	0.635
LOAN FUNDS
1] Secured Loans		0.164	0.265	0.325
2] Unsecured Loans		0.097	0.097	0.125
TOTAL BORROWING		0.261	0.362	0.450
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.701	1.384	1.085
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.639	0.670	0.700
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.910
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.066	0.066	0.186
	Sundry Debtors	3.180	2.731	0.653
	Cash & Bank Balances	0.510	0.555	0.898
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.150	0.123	0.032
Total Current Assets		3.906	3.475	1.769
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.446	2.028	2.304
	Other Current Liabilities	0.000	0.524	0.000
	Provisions	0.405	0.218	0.000
Total Current Liabilities		2.851	2.770	2.304
Net Current Assets		1.055	0.705	(0.535)
MISCELLANEOUS EXPENSES		0.007	0.009	0.010
TOTAL		1.701	1.384	1.085

Particulars	31.03.2011	31.03.2010
Sales Turnover (Approximately)	14.200	13.500

Expected Sales (2011-12) : Rs.15.000 Millions

The above information has been parted by Mr. Machindra.

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	2.16	3.06	4.34
Current Ratio (Current Asset/Current Liability)	1.37	1.25	0.77

LOCAL AGENCY FURTHER INFORMATION

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	--
8) No. of employees	Yes
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 three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	Yes
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	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

Note:

The registered address of the company B-9, Raj Bhavan CHSLBEH, JUMBC Darshan, N S Phadke Road, Andheri (East), Mumbai, Maharashtra, India has been shifted to the present address w.e.f. 24.12.2008

FIXED ASSETS

Factory Premises

Plant and Machinery

Electrical Installation

Furniture Fixtures

Computer

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.49.64
UK Pound	1	Rs.78.35
Euro	1	Rs.65.80

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	3
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.