MIRA INFORM REPORT

Report Date :

31.07.2012

IDENTIFICATION DETAILS

Name :	ALM ENGINEERING AND INSTRUMENTATION PRIVATE LIMITED
Registered Office :	304, Damji Shamji Industrial Complex, L.B.S. Marg, Near Golden Palace Hotel, Kurla (West), Mumbai – 400 070, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.03.2003
Com. Reg. No.:	11-139466
Capital Investment / Paid-up Capital :	Rs.0.990 million
CIN No.: [Company Identification No.]	U29110MH2003PTC139466
TAN No.: [Tax Deduction & Collection Account No.]	MUMA21878D
PAN No.: [Permanent Account No.]	AAIFA2168F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Instrumentation and Engineering Products.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 13000
Status :	Satisfactory
Payment Behaviour :	Slow but 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 slow but correct. The company can be considered 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRSIL
Rating	SE 2B
Rating Explanation	High performance capability and moderate financial strength
Date	22^nd July, 2011

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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. Rubina
Designation :	Accountant
Contact No.:	91-22-25126500
Date :	30.07.2012

LOCATIONS

Registered Office/ Head Office :	304, Damji Shamji Industrial Complex, L.B.S. Marg, Near Golden Palace Hotel, Kurla (West), Mumbai – 400 070, Maharashtra, India
Tel. No.:	91-22-25126500/ 25126700/ 25126900/ 42211000/ 25036543
Fax No.:	91-22-25126700/ 25123020
E-Mail :	info@almontazar.in rubina@almontazar.in montazar@vsnl.com
Location :	Owned
Factory :	MIDC, Cross Road, Andheri, Mumbai, Maharashtra, India
Area :	750 sq ft
Location :	Owned
Branch Office :	Located at: v Hyderabad v Kolkata v Ahmedabad v Bangalore

DIRECTORS

As on 30.09.2011

Name :

Mr. Sarfraz Hussain Roshanali Panjwani

Designation :

Director

Address :

D-31 and 32, Mahindra Park, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India

Date of Birth/Age :

29.09.1967

Date of Appointment :

05.03.2003

DIN No.:

00428370

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	U29110MH2003PTC139466	ALM ENGINEERING AND INSTRUMENTATION PRIVATE LIMITED	Director	05/03/2003	05/03/2003	Active	NO
2	U74900MH2008NPL187589	JIBA INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY	Director	16/10/2008	16/10/2008	Active	NO

Name :

Mr. Roshanali Sharifbhoy Panjwani

Designation :

Director

Address :

A-14, Faiz Co-Operative Housing Society Limited, New Hall Road, Kurla (West), Mumbai – 400 070, Maharashtra, India

Date of Birth/Age :

22.10.1942

Date of Appointment :

05.03.2003

DIN No.:

00432867

Name :

Rahmat Ilahi Sarfraz Hussain Panjwani

Designation :

Director

Address :

D-31 and 32, Mahindra Park, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India

Date of Birth/Age :

09.03.1975

Date of Appointment :

05.03.2003

DIN No.:

00438569

Name :

Mahdi Hasan S. Panjwani

Designation :

Director

Address :

D-31 and 32, Mahindra Park, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India

KEY EXECUTIVES

Name :	Ms. Rubina
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Roshanali Panjwani	5450
Mariambanu Panjwani	39600
Sarfraz Hussain Panjwani	39600
Rahmat Ilahi Panjwani	9900
Mahdi Hasan S. Panjwani	4450
Total	99000

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :	Manufacturer of Instrumentation and Engineering Products.
Products :	v Pressure Measuring Devices: Differential Pressure Gauges, Transmitters, Manometers, Switches, etc. v Flow Measuring Devices: Indicators/Sensors, Switches, etc. v Air Velocity Measuring Devices: Gauges and Transmitters v Temperature and Humidity Measuring Devices: Switches, Sensors, Thermometers, etc. v Miscellaneous Measuring Devices: Refrigerant Leak Detector, Combustion Test Kit, Handheld Flue Gas Analyzer, Tachometer, Proximity Sensors, etc. v Dwyer Measuring Products: Temperature Humidity Controller, Temperature Transmitter, Vane Type Flow Switch, Air Flow Switch, Valve Position Sensor, Detector Position Sensor, Submersible/Capacitive Level Transmitter, Pump Controller, Flow Switch, Adjustable Pressure Switch, Explosion Proof Pressure Switch, Air Velocity Transmitter, Differential Pressure Transmitters, Differential Pressure Controllers v Huba Control Devices: Pressure Transmitter/Differential Pressure Transmitter/Electronic Pressure Switches/    Pressure Level Transmitter/Overpressure And Vacuum Switches/Differential Pressure Switches/Digital Indicating Device/Force Cells/Pressure Measuring Cells
Exports :
Products :	Instrumentation and Engineering Products
Countries :	v Dubai v USA
Imports :
Products :	Raw Materials
Countries :	v USA v Singapore
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

v Dwyer Instruments Inc, USA

v ALM Systems

v Deep Jyoti Plastic Enterprises

v E A Water Private Limited

v Ocean Steel

v Super Hydro Pneumatic

v Shah Enterprises

v R.K. Instruments

v N.L. Mehta and Associates

v Chary Publications Private Limited

v Raco Int. Private Limited

v Metro Computers

v I-Tech Media Private Limited

v IED Communications Limited

v Indo German Chambers of Company

Customers :

End Users

v AAF India Private Limited

v Arush Switchgears

v Aerocool Engineers

v Blue Star

v RFCL Limited

v Pranam Technologies

v P.J. and Sons

v Lupin Limited

v Micro Pnumatic Private Limited

v HVAC International Private Limited

v Indian Airforce

v GMP Technical Solution Private Limited

v M.K. Precision Metal Private Limited

v PEC Enterprises

v Labline Instruments

v Labline Industries

v Gujarat Guardian Limited

v D.P. Project

v Fairdeal Tubes Corporation

v Cipla Limited

No. of Employees :

30 (Approximately)

Bankers :

v HDFC Bank Limited, Kurla (West)

v Standard Chartered Bank

v Union Bank of India

v The Mogaveera Co-Operative Bank Limited

Facilities :

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Firdous Fatema	0.080	0.000
Kausar Fatima Loan	0.048	0.000
Mariambanu Panjwani	0.043	(0.010)
Safdar H.R. Panjwani	0.328	(0.004)
R.S. Panjwani and Sons	0.000	0.010
Sarfraz Panjwani	0.000	0.053
Roshanali S. Panjwani	0.029	0.000
Rahmatilahi Panjwani	0.133	0.256
Loan from Credit Card
AEBC 376933092161007 (Safdar Panjwani)	0.004	0.000
SCB – 7691	0.000	0.037
AEBC Credit Card 1004	0.041	0.000
AEBC Credit Card 2003	0.000	0.000
Citi Bank Credit – 4004	0.014	0.000
SCB Credit Card – 5812	0.004	0.000
SCB 91871	0.000	0.096
SCB Credit Card – 9608	0.085	0.127
Total	0.809	0.565

Banking Relations :	--
Auditors :
Name :	N.L. Mehta and Associates Chartered Accountants
Address :	G-1, Saubhagya Building, Jeevan Vikas Kendra Road, Andheri (East), Mumbai – 400 069, Maharashtra, India
Tel. No.:	91-22-26825002
Mobile No.:	91-9820290454
E-Mail :	nlmehta_as@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AAFPM5259A
Memberships :	v Bombay Productivity Council, Mumbai (Life Member) v American Society of Heating, Refrigeration and Air-conditioning Engineers (ASHRAE), (Life Member) v Instrumentation, Systems, and Automation Society, USA v International Society of Pharmaceutical Engineers (Affiliate Chapter – Singapore) v Institute of Environmental Sciences and Technology, USA v American Society for Testing Materials, amongst others

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
99000	Equity Shares	Rs.10/- each	Rs.0.990 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		0.990	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.194	1.600	1.279
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.184	1.700	1.379
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.809	0.565	5.935
TOTAL BORROWING		0.809	0.565	5.935
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.993	2.265	7.314
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.724	0.565	0.439
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.212	0.737	2.521
	Sundry Debtors	10.206	9.519	7.692
	Cash & Bank Balances	0.582	0.219	0.593
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.789	0.676	0.393
Total Current Assets		12.789	11.151	11.199
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.338	8.883	3.768
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.185	0.573	0.563
Total Current Liabilities		9.523	9.456	4.331
Net Current Assets		3.266	1.695	6.868
MISCELLANEOUS EXPENSES		0.003	0.005	0.007
TOTAL		3.993	2.265	7.314

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	50.458	38.577	32.766
		Other Income
		TOTAL	50.458	38.577	32.766
Less	EXPENSES
		Office Expenses	49.382	37.735	32.368
		Administrative Expenses
		Advertising Expenses
		TOTAL	49.382	37.735	32.368
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.076	0.842	0.398
Less/ Add	DEPRECIATION/ AMORTISATION		0.153	0.119	0.122
	PROFIT BEFORE TAX		0.923	0.723	0.276
Less	TAX		(0.005)	(0.004)	0.137
	PROFIT AFTER TAX		0.928	0.727	0.139
	Earnings Per Share (Rs.)		0.94	7.27	1.39

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.84	1.88	0.42
Return on Total Assets (PBT/Total Assets}	(%)	6.83	6.17	2.37
Return on Investment (ROI) (PBT/Networth)		0.29	0.43	0.20
Debt Equity Ratio (Total Liability/Networth)		3.24	5.89	7.45
Current Ratio (Current Asset/Current Liability)		1.34	1.18	2.59

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	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	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	Yes
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) PAN of Proprietor/Partner/Director, if available	No
32) Passport No of Proprietor/Partner/Director, if available	No
33) Voter ID No of Proprietor/Partner/Director, if available	No

TRADE REFERENCES:

v Dwyer Instruments Inc, USA

FIXED ASSETS:

v Computers

v Furniture and Fixtures

v Panasonic Projector

v Security Control System

v Water Cooler

v Mobile Instrument

v Air Conditioner

v Office Equipment

v Security Systems

v Hot and Cold Dry Block Caliber

v Weighing Scale 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.55.44
UK Pound	1	Rs.87.12
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
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	5
--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		41

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.