MIRA INFORM REPORT

Report Date :

12.03.2012

IDENTIFICATION DETAILS

Name :	ALTECH ALLOYS INDIA PRIVATE LIMITED
Registered Office :	A-83/2, Phase – I, MIDC Kagal, Hathknangale, At Post Halsawade, District Kolhapur – 416216, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.04.2005
Com. Reg. No.:	25-020618
Capital Investment / Paid-up Capital :	Rs.9.353 Millions
CIN No.: [Company Identification No.]	U27203PN2005PTC020618
TAN No.: [Tax Deduction & Collection Account No.]	KLPA01603A
PAN No.: [Permanent Account No.]	AAFCA2178K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Non-Ferrous and Castings Metals.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 90000
Status :	Satisfactory
Payment Behaviour :	Usually 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 usually correct and as per commitments. The company can be considered normal 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.

INFORMATION PARTED BY

Name :	Mr. Shinde
Designation :	Sales Co-ordinate
Contact No.:	91-9922445441
Date :	06.03.2012

LOCATIONS

Registered Office :	A-83/2, Phase – I, MIDC Kagal, Hathknangale, At Post Halsawade, District Kolhapur – 416216, Maharashtra, India
Tel. No.:	91-231-2305054
Mobile No.:	91-9922445441 (Mr. Shinde)
Fax No.:	91-231-2305053
E-Mail :	altechalloys@yahoo.co.in accounts@altechalloys.in milikul@rediffmail.com
Website :	http://www.altechalloys.in
Location :	Owned
Factory :	D-121, MIDC Kagal-Hatkanangale Industrial Area, Kolhapur – 416216, Maharashtra, India
Location :	Owned

DIRECTORS

(AS ON 30.09.2010)

Name :	Mr. Satish Ravaji Kadukar
Designation :	Director
Address :	F/4, Narayan Vihar Opposite Water Tank, Rajendra Nagar, Kolhapur – 416004, Maharashtra, India
Date of Birth/Age :	16.03.1969
Date of Appointment :	25.04.2005
DIN No.:	00006764
Name :	Mr. Uday Bhaskar Thite
Designation :	Director
Address :	CC-S-553/1, Flat No.G-1, Narayan Vihar R Ajendra Nagar, Kolhapur – 416004, Maharashtra, India
Date of Birth/Age :	29.09.1954
Date of Appointment :	25.04.2005
DIN No.:	00006773
Name :	Mr. Sanjeev Purushottam Tungatkar
Designation :	Director
Address :	C-5, Jayant Residency Mali Colony, Takala, Kolhapur – 416008, Maharashtra, India
Date of Birth/Age :	13.04.1962
Date of Appointment :	25.04.2005
DIN No.:	00006770
Name :	Mr. Vilas Balasaheb Jadhav
Designation :	Director
Address :	Flat no.G-1, Shrikrupa Apartment, Plot No.46, Rajendra Kolhapur – 416004, Maharashtra, India
Date of Birth/Age :	31.03.1956
Date of Appointment :	25.04.2005
DIN No.:	00008086
Name :	Mr. Gajanan Ravaji Kadukar
Designation :	Director
Address :	383/E, Sushila Apartment, Rajarampuri, 12^th Lane, Kolhapur – 416008, Maharashtra, India
Date of Birth/Age :	14.09.1961
Date of Appointment :	25.04.2005
DIN No.:	00006775
Name :	Mr. Pradeep Balkrishna Tendulkar
Designation :	Additional Director
Address :	17/243/B, Sainandan Park, Near Rama Udyan, Miraj – 416410, Maharashtra, India
Date of Birth/Age :	01.02.1967
Date of Appointment :	06.12.2010
DIN No.:	03263480

KEY EXECUTIVES

Name :	Mr. Shinde
Designation :	Sales Co-ordinate

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Uday Bhaskar Thite	185124
Sanjeev Purushottam Tungatkar	185121
Satish Ravaji Kadukar	151470
Vilas Balasaheb Jadhav	151467
Gajanan Ravaji Kadukar	168300
Rajendra Rajguru	3
Asha Gind	3
Sushila Thakkar	3
Lata Purandare	3
Sundara Khare	3
Snehatee Bhonde	3
Vivekanand Kulkarni	300
Total	841800

(AS ON 30.09.2010)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	99.96
Other top fifty shareholders	0.04
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Non-Ferrous and Castings Metals.

Products :

Products Description	Item Code No
Hexachlorelhylene	29034990
Hot Top and Sleeves	38244090
Aluminium Castings	76169990
SG Iron Casting	73251000

Exports :

Products :

Non-Ferrous and Castings Metals

Countries :

USA

Imports :

Products :

Raw Materials

Countries :

· China

· Gulf Country

Terms :

Selling :

Depends

Purchasing :

Advance

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Licensed Capacity	Installed Capacity	Actual Production Qty. (Nos.)
Hot-top Division
Altech Ladle 40 Kg.T	Not Available	Not Ascertained	7377
Altech Sleeve S-12 O.E. 50	Not Available	Not Ascertained	9552
Altech Sleeve 50x80 B.I.	Not Available	Not Ascertained	71616
Altech Sleeve 50x125 F.I.	Not Available	Not Ascertained	43695
Alluminium Foundry Division
Lub Oil Sump Casting	Not Available	Not Ascertained	425
Adapter Oil Pan	Not Available	Not Ascertained	448
Lub Oil Cooler Cover	Not Available	Not Ascertained	25
Head Oil Filter	Not Available	Not Ascertained	117
Hexa Division
Hexachlorethane (Kg)	Not Available	Not Ascertained	381936

GENERAL INFORMATION

Customers :

Manufacturer

No. of Employees :

70 (Approximately)

Bankers :

· Janata Sahakari Bank Limited

Kolhapur Branch, 1436, C Ward Laxmipuri, Kolhapur - 416002, Maharashtra, India

· Janata Sahakari Bank Limited

1444, Shukrawar Peth, Thorale Bajirao Road, Pune - 411002, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Term Loan (Secured by hypothecation of Building and Plant and Machinery	42.188	7.897
Janata Sahakari Bank Limited, Cash Credit (Secured by hypothecation of Stock and Debtors)	23.657	11.635
Total	65.844	19.533

Banking Relations :	--
Auditors :
Name :	Kunte and Chougule Chartered Accountant
Address :	Ayodhya Towers, Building No.1, Dabholkar Corner, Station Road, Kolhapur – 416001, Maharashtra, India
Tel No.:	91-231-2551061/ 2556012
Fax No.:	91-231-2551061/ 2556012
PAN No.:	AALPC7614F

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
935330	Equity Share	Rs.10/- each	Rs.9.353 Millions

NOTE:

(Out of above 93,530 Equity Shares of Rs.10/- each have been issued during the year a premium of Rs.7.47 per share)

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		9.353	8.418	2.802
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.188	6.288	7.536
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		22.541	14.706	10.338
LOAN FUNDS
1] Secured Loans		65.844	19.533	17.012
2] Unsecured Loans		10.348	2.878	2.717
TOTAL BORROWING		76.192	22.411	19.729
DEFERRED TAX LIABILITIES		1.956	1.473	1.162
TOTAL		100.689	38.590	31.229
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.622	23.522	20.783
Capital work-in-progress		27.885	0.000	0.123
INVESTMENT		0.625	0.500	0.443
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.896	7.254	4.488
	Sundry Debtors	15.690	9.826	4.489
	Cash & Bank Balances	1.105	0.880	1.614
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	23.305	10.681	4.350
Total Current Assets		52.996	28.641	14.941
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	7.358	9.267	1.867
	Other Current Liabilities	2.270	1.293	1.166
	Provisions	4.811	3.513	2.033
Total Current Liabilities		14.439	14.073	5.066
Net Current Assets		38.557	14.568	9.875
MISCELLANEOUS EXPENSES		0.000	0.000	0.005
TOTAL		100.689	38.590	31.229

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	102.453	54.440	44.885
		Other Income
		TOTAL	102.453	54.440	44.885
Less	EXPENSES
		TOTAL	92.737	47.677	39.585
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		9.716	6.763	5.300
Less/ Add	DEPRECIATION/ AMORTISATION		1.215	1.103	0.827
Less	Preliminary expenses Written off		0.000	0.005	0.005
	PROFIT BEFORE TAX		8.501	5.655	4.468
Less	TAX		2.800	1.791	1.457
	PROFIT AFTER TAX		5.701	3.864	3.016
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.400	0.536	0.020
Less	APPROPRIATIONS
		Transfer to General Reserve	6.000	4.000	2.500
	BALANCE CARRIED TO THE B/S		0.101	0.400	0.536
	EARNINGS IN FOREIGN CURRENCY		2.784	3.837	4.305
	IMPORTS
		Raw Materials	21.922	8.843	3.884
		Resale	5.124	5.683	1.221
	TOTAL IMPORTS		27.046	14.526	5.105
	Earnings Per Share (Rs.)		6.09	4.59	--

Expected Sales (2011-12): Rs.120.000 Millions

The above information has been parted by Mr. Shinde

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.56	7.10	6.72
Return on Total Assets (PBT/Total Assets}	(%)	9.81	10.84	12.51
Return on Investment (ROI) (PBT/Networth)		0.38	0.38	0.43
Debt Equity Ratio (Total Liability/Networth)		4.02	2.48	2.40
Current Ratio (Current Asset/Current Liability)		3.67	2.04	2.95

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Sundry Creditors
- Dues to Micro, Small and Medium Enterprises	--	--	--
- Dues other than Micro, Small and Medium Enterprises	7.358	9.267	1.867
Total	7.358	9.267	1.867

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution 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 for last one years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	No
Details of sister concerns	-----
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	No
Incorporation details is applicable	-----
Last Accounts filed at ROC	-----
Major Shareholders, if available	-----

FUTURE OUTLOOK AND MARKET CONDITIONS:

During the year Net Sales of the company were increased by about 79% while the Net Profits (after tax) was increased by about 47%. Considering the recent trends, the management of the company is hopeful of making considerable increase in the turnover and profits of the company in the coming years.

FORM 8:

Corporate identity number of the company	U27203PN2005PTC020618
Name of the company	ALTECH ALLOYS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A-83/2, Phase I, MIDC Kagal, Hathaknangale, At Post Halsawade, District Kolhapur, Maharashtra, India accounts@altechalloys.in
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Janata Sahakari Bank Limited Kolhapur Branch, 1436, C Ward Laxmipuri, Kolhapur – 416002, Maharashtra, India klp_jsbkop@sancharnet.in
Nature of description of the instrument creating or modifying the charge	Hypothecation of goods and books debts to secure cash credit facility
Date of instrument Creating the charge	05.11.2011
Amount secured by the charge	Rs.16.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 6.75% over the prevailing bank rate or 12.75% per annum Terms of Repayment Repayable on demand Margin 20% Extent and Operation of the charge Charge shall remain in operation till the satisfaction of principle, interest, costs and other charges accrued thereon.
Short particulars of the property charged	Present and Future Stock Present and Future Debtors

FIXED ASSETS:

· Land

· Building

· Electrical Installations

· Plant and Machinery

· Pollution Control Equipment

· Furniture

· Office Equipment

· Computer

· Computer Systems

· Hero Honda CD Deluxe

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.50.02
UK Pound	1	Rs.79.01
Euro	1	Rs.66.18

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
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		45

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.