MIRA INFORM REPORT

Report Date :

09.03.2012

IDENTIFICATION DETAILS

Name :	SEALMART INDIA PRIVATE LIMITED
Registered Office :	1, Shradha Kunj, Sunder Nagar, Road No.2, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.06.2007
Com. Reg. No.:	11-171913
Capital Investment / Paid-up Capital :	Rs.0.465 Million
CIN No.: [Company Identification No.]	U28990MH2007PTC171913
TAN No.: [Tax Deduction & Collection Account No.]	MUMS57865D
PAN No.: [Permanent Account No.]	AAKCS9452M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Hydraulic
No. of Employees :	20 (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 1300
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company However, 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.

INFORMATION PARTED BY

Name :	Ms. Shweta
Designation :	Accountant
Contact No.:	91-22-28565939
Date :	06.03.2012

LOCATIONS

Registered Office :	1, Shradha Kunj, Sunder Nagar, Road No.2, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	accounting.mumbai@seal-mart.com officemumbai@seal-mart.com shilparayassociates@gmail.com
Website :	www.seal-mart.com
Location :	Owned
Head Office :	C-91, Building No.5, Akshay Mittal Industrial Estate, Andheri Kurla, Marol Naka, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-28565939
Fax No.:	91-22-28565956
Branch Office :	Located at Delhi

DIRECTORS

As on 30.09.2011

Name :	Mr. Ajay Rajendraprasad Shukla
Designation :	Director
Address :	1, Shradha Kunj, Sunder Nagar, Road No.2, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Date of Appointment :	22.06.2007
DIN No.:	1611618
Name :	Mrs. Pooja Rajendraprasad Shukla
Designation :	Director
Address :	1, Shradha Kunj, Sunder Nagar, Road No.2, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Date of Appointment :	22.06.2007
DIN No.:	1611720

KEY EXECUTIVES

Name :	Ms. Shweta
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Ajay Rajendraprasad Shukla	5000
Pooja Rajendraprasad Shukla	5000
TOTAL	10000

As on 30.09.2010

Names of Allottes	No. of Shares
Ajay Rajendraprasad Shukla	36500
TOTAL	36500

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 Trader of Hydraulic
Imports :
Products :	Raw Material
Countries :	Australia
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Others

No. of Employees :

20 (Approximately)

Bankers :

Central Bank of India, Kalina Branch, Santacruz East, Mumbai – 400098, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Cash credit from Central Bank of India	9.160	7.195
Total	9.160	7.195

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loan from Shareholder	0.899	0.140
Loan from Others	4.828	4.838
Total	5.727	4.978

Banking Relations :	--
Auditors :
Name :	SDSS and Associates Chartered Accountant
Address :	B001, Shraddha Kunj, Lane No.2, Sundar Nagar, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Tel. No.:	91-22-26670779/31946211
PAN.:	AEDPR5381J

CAPITAL STRUCTURE

As on 30.09.2011

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
46500	Equity Shares	Rs.10/- each	Rs.0.465 Million

As on 31.03.2011

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
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million
	Share Application Money		Rs.0.400 Million
	TOTAL		Rs.0.500 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		0.100	0.100	0.100
2] Share Application Money		0.400	0.400	0.400
3] Reserves & Surplus		(0.165)	1.426	0.568
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.335	1.926	1.068
LOAN FUNDS
1] Secured Loans		9.160	7.195	3.584
2] Unsecured Loans		5.727	4.978	2.846
TOTAL BORROWING		14.887	12.173	6.430
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		15.222	14.099	7.498
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.582	1.317	1.580
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.020	0.020	0.010
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.182	6.546	6.259
	Sundry Debtors	11.122	12.760	4.932
	Cash & Bank Balances	0.824	1.247	0.046
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.765	1.599	1.003
Total Current Assets		20.893	22.152	12.240
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.883	8.393	5.737
	Other Current Liabilities	0.803	0.550	0.613
	Provisions	0.599	0.459	0.000
Total Current Liabilities		13.285	9.402	6.350
Net Current Assets		7.608	12.750	5.890
MISCELLANEOUS EXPENSES		0.012	0.012	0.018
TOTAL		15.222	14.099	7.498

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	31.594	23.201	14.089
		Other Income		0.339	0.005
		TOTAL (A)	31.594	23.540	14.094
Less	EXPENSES
		Increase / Decrease in Stock	34.128	(0.286)	(2.402)
		Purchase		11.836	8.750
		Manufacturing Expenses		1.041	0.963
		Administrative and Other Expenses		4.208	3.164
		Selling and Distribution Expenses		4.619	2.173
		TOTAL (B)	34.128 (Including financial expenses)	21.418	12.648
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			2.122	1.446
Less	FINANCIAL EXPENSES (D)			0.505	0.357
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(2.534)	1.617	1.089
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.943	0.311	0.351
	PROFIT BEFORE TAX (E-F) (G)		(1.592)	1.306	0.738
Less	TAX (H)		0.000	0.447	0.286
	PROFIT AFTER TAX (G-H) (I)		(1.592)	0.858	0.452
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.426	0.568	0.116
	BALANCE CARRIED TO THE B/S		(0.166)	1.426	0.568
	Earnings Per Share (Rs.)			85.79	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(5.04)	3.65	3.21
Net Profit Margin (PBT/Sales)	(%)	NA	5.63	5.24
Return on Total Assets (PBT/Total Assets}	(%)	(5.59)	5.56	5.34
Return on Investment (ROI) (PBT/Networth)		(4.75)	0.68	0.69
Debt Equity Ratio (Total Liability/Networth)		84.10	11.20	11.97
Current Ratio (Current Asset/Current Liability)		1.57	2.36	1.93

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Particulars	31.03.2011	31.03.2010	31.03.2009
	Rs. in millions
Sundry Creditors	11.883	8.393	5.737

Check list by Info Agents	Available in Reports ( Yes/No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitutions of the Firm	Yes
Premises Details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	--
No. of Employees	Yes
Name of person contacted	Yes
Designation of contact person	Yes
Turnover of Firm fort last three years	Yes
Profitability for last three years	No
Reasons For Variation<>20%	--
Estimation for coming financial year	No
Capital in Business	No
Details of Sister Concern	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	--
Financial, if provided	No
Incorporation details, if applicable	--
Last Account filed at ROC11	--
Major shareholder , if available	--

OPERATION

During the year sales and other incomes of the company was Rs.31.594 millions. The operation of the company has resulted in a net loss of Rs.1.592 millions. The directors are making all their efforts and confident of better performance for the following financial year, 2011-12.

FIXED ASSETS

• Computer and Software
• Air Conditioners
• Electrical Fitting and Fixture
• Plant and Machinery
• Furniture and Fixture

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.50.57
UK Pound	1	Rs.79.57
Euro	1	Rs.66.50

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	3
--CREDIT LINES	1~10	2
--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		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.