MIRA INFORM REPORT

Report Date :

19.03.2012

Tel no.:

00912225700959

IDENTIFICATION DETAILS

Name :	LUNARMECH MACHINENFABRIK LIMITED
Registered Office :	311-312, Gateway Plaza, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.06.1994
Com. Reg. No.:	11-078792
Capital Investment / Paid-up Capital :	Rs.36.000 Millions
CIN No.: [Company Identification No.]	U74999MH1994PLC078792
TAN No.: [Tax Deduction & Collection Account No.]	MUML02350F
PAN No.: [Permanent Account No.]	AAACL1123G
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Petrochemical Machinery.
No. of Employees :	80 (Approximately) (In office + in Factory)

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 520000
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. Praful
Designation :	Finance Executive
Contact No.:	91-22-25700959
Date :	16.03.2012

LOCATIONS

Registered Office / head Office:	311-312, Gateway Plaza, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India
Tel. No.:	91-22-25700959/ 25700960
Fax No.:	91-22-25700489/ 25701155
E-Mail :	lunare@bom3net.in acctsmem@lunarmech.com
Website :	http://www.lunarmec.com
Location :	Owned
Factory 1 :	320/18, 40 Shed Areal, G.I.D.C., Vapi-396195l, Valsad, Gujarat, India
Tel. No.:	91-260-432427/ 431667
Fax No.:	91-260-431325
E-Mail :	lunarvapi@vsnl.com lunare@bom3net.in
Factory 2 :	2347, C1, 3^rd Phase, G.I.D.C, Vapi-396195, Valsad, Gujarat, India
Factory 3 :	318/1, 40 Shed Areal, Vapi-396195, Valsad, Gujarat, India

DIRECTORS

As on 08.09.2011

Name :	Mr. Ram Rupchand Advani
Designation :	Chairman cum Managing Director
Address :	Sainara, Flat No.2, 10^th Floor, Cuffe Parade, Mumbai-400005, Maharashtra, India
Date of Birth/Age :	24.11.1934
Date of Appointment :	06.06.1994
DIN No.:	00168804
Name :	Mr. Gordhan Alidas Jaising
Designation :	Director
Address :	1901/B, Lake Castle, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India
Date of Birth/Age :	20.07.1944
Date of Appointment :	06.06.1994
DIN No.:	00168998
Name :	Mrs. Rani Gordhandas Jaising
Designation :	Director (Head Office)
Address :	1901/B, Lake Castle, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India
Date of Birth/Age :	03.08.1946
Date of Appointment :	06.06.1994
DIN No.:	00168893
Name :	Mrs. Jhanveeka Rajesh Ahuja
Designation :	Director
Address :	A/1002, Lake Castle, Hiranandani Garden, Powai, Mumbai-400076, Maharashtra, India
Date of Birth/Age :	25.05.1974
Date of Appointment :	11.02.2008
DIN No.:	02147069
Name :	Mrs. Hritika Dilip Ahuja
Designation :	Director
Address :	43, Sea Lord-A, Cuffe Parade, Mumbai-400005, Maharashtra, India
Date of Birth/Age :	03.05.1970
Date of Appointment :	11.02.2008
DIN No.:	02173725
Name :	Winfried Thomas Schultheis
Designation :	Director
Address :	Offenbach AM Main, AM Entensee, Germany, Germany – 73.
Date of Birth/Age :	03.03.1968
Date of Appointment :	14.02.2009
DIN No.:	03161036
Name :	Winfried Thomas Schultheis
Designation :	Alternate Director to Winfried
Address :	Offenbach AM Main, AM Entensee, Germany, Germany – 73.
Date of Birth/Age :	26.01.1970
Date of Appointment :	14.02.2009

KEY EXECUTIVES

Name :	Mr. Praful
Designation :	Finance Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 08.09.2011

Names of Shareholders	No. of Shares
Gordhan Alidas Kaising	2419998
Rani Gordhan Jaising	129998
Ram Rupchand Advani	30000
Hritika Dilip Ahuja	60001
Jhanvika Rajesh Ahuja	60001
Upendra J Sheth	1
S Lakshminaryanam	1
Winfried I Schultheris on behalf of Manfred W. Schultheis on behalf of Vibra Maschinenfabrik Gmbh and Company, Germany	900000
Total	3600000

Equity Share Breakup (Percentage of Total Equity)

As on 08.09.2011

Category	Percentage of Holding
Directors or relatives of directors	75.00
Other top fifty (50) shareholder (other than listed above)	25.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Machineries.
Products :	· Online Filtration System · Jacketed Polymer Valves · Die Head · Pelletising System · Classifiers/ Screening M/cs · Densifiers
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30 Days)

GENERAL INFORMATION

Customers :

Wholesalers and Industries

· ABS Industries, Baroda, Gujarat

· Alstom Power India Limited, West Bengal

· Century Enka Limited, Pune

· DCL Polyesters Limited, Nagpur

· E.I Dupont India Limited, Baroda, Gujarat

· Ester Industries Limited, Khatima

· Flex Chemicals Limited, Malanpur

· Flex Industries Limited, Noida

· Garden Cottons and Yarns Limited, Surat, Gujarat

· Garware Nylons and Yarns Limited, Pune

· Garware Polyesters Limited, Aurangabad

· Gujarat State Fertilizers Company Limited, Gujarat

· GE Palstics India Limited, Gujarat

· Greaves Limited, Rajasthan

· Hindalco Industries Limited, Uttar Pradesh

· Indian Organic Chemicals Limited, Chennai

No. of Employees :

80 (Approximately) (In office + in Factory)

Bankers :

• Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg Branch, Mumbai-400023, Maharashtra, India
• ICICI Bank Limited

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Engineering Division
Vehicle Loans
Swift Dzire	0.159
ICICI – Alto	0.148
ICICI- Alto	0.144
Tata Motors Finance Limited (Bus)	0.186
HDFC Bank Limited, Toyota Fortuner	1.555
ICICI – Toyota Innova (Secured by hypothecation of Vehicles)	0.825
Sub Total (A)	3.017	1.432
Term Loan (Others)
Union Bank of India Term Loan (Secured by hypothecation of Machinery)	0.000	5.219
Sub Total (B)	0.000	5.219
Closure Division
Term Loan
Union Bank of India , M S Marg (Secured by hypothecation husky Injection Moulding Machine)	0.000	3.032
Sub Total (C)	0.000	3.032
Total	3.017	9.683
Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Engineering Division
G A Jaising	0.000	4.150
Rani Jaising	0.106
Total	0.106	4.150

Banking Relations :	--
Financial Institute:	ICICI Home Finance Company Limited ICICI Mahindra Max
Internal Auditors :
Name :	S H Desai and Company Chartered Accountant
Address :	10 Vasant Vihar, 2^nd Floor, New Nagardas Cross Road, Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-28222285
PAN No.:	AAHPM0540L
External Auditors :
Name :	Gurjar Phadke and Sahni Chartered Accountant
Address :	A-1l, Sindhi Niwas, Sitladevi Temple Road, Near Rang Udyan, Mahim, Mumbai-400016, Maharashtra, India
Associates:	Vibra, Germany

CAPITAL STRUCTURE

After 08.09.2011

Authorised Capital : Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.40.391 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Share	Rs. 10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3600000	Equity Share	Rs. 10/- each	Rs.36.000 Millions

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		36.000	30.000	30.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		92.996	71.782	62.891
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		128.996	101.782	92.891
LOAN FUNDS
1] Secured Loans		3.017	9.683	24.252
2] Unsecured Loans		0.106	4.150	3.978
TOTAL BORROWING		3.123	13.833	28.230
DEFERRED TAX LIABILITIES		9.186	9.307	9.158
TOTAL		141.305	124.922	130.279
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		124.911	118.921	122.130
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	60.424	31.482	27.229
	Sundry Debtors	14.887	11.973	9.224
	Cash & Bank Balances	5.187	5.280	0.799
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	22.498	20.045	11.981
Total Current Assets		102.996	68.780	49.233
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	21.903	14.001	11.213
	Other Current Liabilities	50.101	40.095	24.814
	Provisions	14.612	8.704	5.085
Total Current Liabilities		86.616	62.800	41.112
Net Current Assets		16.380	5.980	8.121
MISCELLANEOUS EXPENSES		0.014	0.021	0.028
TOTAL		141.305	124.922	130.279

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
SALES
	Income	173.255	151.927	114.239
	Other Income	2.541	2.963	2.680
	TOTAL	175.796	154.890	116.919
EXPENSES
	Material Consumed	87.223	73.058	65.834
	Expenses	58.494	48.013	42.805
	Prior Period Adjustment	1.423	0.000	0.004
	(Increase) / Decrease in stock	(8.881)	1.546	(11.328)
	TOTAL	138.259	122.617	97.315
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		37.537	32.273	19.604
DEPRECIATION/ AMORTISATION		16.224	15.491	16.195
PROFIT BEFORE TAX		21.313	16.782	3.409
TAX		7.178	5.905	2.624
PROFIT AFTER TAX		14.135	10.877	0.785
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		43.530	34.153	33.360
APPROPRIATIONS
	Dividend	1.884	1.500	0.000
BALANCE CARRIED TO THE B/S		55.781	43.530	34.145
Earnings Per Share (Rs.)		3.93	3.63	0.26

Expected Sales (2011-2012) : Rs.200.000 Millions

The above information has been parted by Mr. Praful.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	8.04	7.02	0.67
Net Profit Margin (PBT/Sales)	(%)	12.30	11.05	2.98
Return on Total Assets (PBT/Total Assets}	(%)	9.35	8.94	1.99
Return on Investment (ROI) (PBT/Networth)		0.17	0.16	0.04
Debt Equity Ratio (Total Liability/Networth)		0.70	0.75	0.75
Current Ratio (Current Asset/Current Liability)		1.19	1.10	1.20

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditors Details:

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors
For Goods	21.903	11.717	10.646
For Expenses	0.000	1.971	0.500
For Capital Asset	0.000	0.313	0.067
Total	21.903	14.001	11.213

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%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
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 office of the company has been shifted from 323, Hammersmith Industrial Estate, Off Sitladevi Temple Road, Mahim West, Mumbai-400016, Maharashtra, India to present address w.e.f. 01.01.2007

Operation and Outlook:

During the year the company earned an income of Rs.175.800 Millions by of sales way of sales and other income as against Rs. 145.934 Millions achieved during the corresponding period of previous year thereby registering an increase of 13.49% over the previous year. After offsetting the expenses the company earned a net profit after tax of Rs.14.100 Millions as against Rs.10.900 Millions achieved during the corresponding period of the previous year.

Both the engineering and closure division are performing well and with the good order position in hand the directors are optimistic about the future of the company.

Bankers Charges Report as per Registry

Corporate identity number of the company	U74999MH1994PLC078792
Name of the company	LUNARMECH MACHINENFABRIK LIMITED
Address of the registered office or of the principal place of business in India of the company	311-312, Gateway Plaza, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India E-mail : lunare@bom3net.in
This form is for	Modification of Charge
Charge identification number of the modified	80005359
Type of charge	Immovable Property
Particular of charge holder	Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg Branch, Mumbai-400023, Maharashtra, India E-mail : msmcredit@unionbankofindia.com
Nature of instrument creating charge	Hypothecation (Goods) Agreement
Date of instrument Creating the charge	28.01.2011
Amount secured by the charge	Rs.43.851 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate of 16.25% per annum with monthly rests or at such other revised rate/s as may be prescribed by the bank from time to time. Terms of Repayment On Demand Margin As per Sanction Terms Extent and Operation of the charge To secure the aggregate amount of Rs.43.851 Millions granted by the bank to the company.
Short particulars of the property charged	The borrower hypothecates in favour of the bank plant and machinery and movable property of any kind belonging to the borrower which now or hereinafter from time to time during this security shall be brought in, stored or to be in or about the borrower's premises or godown/s at 320/18, 318/1, GIDC, Vapi or in the godowns / premises hired by the borrower for storing them and/or in transit.
Date of instrument modifying the charge	10.09.2008
Particulars of the present modification	The aggregate amount has enhanced from Rs.39.473 Millions to Rs.43.851 Millions and is collaterally secured against hypothecation of company's plant and machinery.

Fixed Assets:

• Land
• Factory Building
• Plant and Machinery
• Furniture and Fixtures
• Office Equipments
• Computer
• Office Premises

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.50.31
UK Pound	1	Rs.79.05
Euro	1	Rs.65.83

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.