MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	POINTER INSTRUMENTS PRIVATE LIMITED
Registered Office :	Plot No.210, Phase - 1, G.I.D.C. Industrial Estate, Taluka Kalol, District Chhatral – 382 729, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.01.2007
Com. Reg. No.:	04-049765
Capital Investment / Paid-up Capital :	Rs.0.200 Million
CIN No.: [Company Identification No.]	U29130GJ2007PTC049765
TAN No.: [Tax Deduction & Collection Account No.]	AHMP06078C
PAN No.: [Permanent Account No.]	AAECP1302K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pressure Temperature Gauges.
No. of Employees :	35 (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 2000
Status :	Small Company
Payment Behaviour :	Slow
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. The company can be considered for business dealings with some caution.

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 (General Details)

Name :	Mr. Chandravadan Patel
Designation :	Director
Contact No.:	91-2764-239357
Date :	05.03.2012

LOCATIONS

Registered Office/ Factory :	Plot No.210, Phase - 1, G.I.D.C. Industrial Estate, Taluka Kalol, District Chhatral – 382 729, Gujarat, India
Tel. No.:	91-2764-234357
Mobile No.:	91-9327916343 (Mr. Chandresh)
Fax No.:	91-2764-234177
E-Mail :	pointer210@yahoo.co.in kssheth@yahoo.com gaudana@gmail.com
Location :	Owned

DIRECTORS

(AS ON 24.09.2011)

Name :

Mr. Chandravadan Narayanbhai Patel

Designation :

Director

Address :

7, Bhagwat Bunglows, Gota, Taluka Daskroi, Ahmedabad – 380 060, Gujarat, India

Date of Birth/Age :

30.10.1971

Date of Appointment :

12.01.2007

DIN No.:

01674817

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	12-01-07	12-01-07	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12-09-07	12-09-07	Active	NO

Name :

Mrs. Naynaben Chandravadan Patel

Designation :

Director

Address :

7, Bhagwat Bunglows, Gota, Taluka Daskroi, Ahmedabad – 380 060, Gujarat, India

Date of Birth/Age :

12.08.1972

Date of Appointment :

12.01.2007

DIN No.:

03274543

Name :

Mrs. Anitaben Bharatbhai Patel

Designation :

Director

Address :

57, Ganeshdham Twin Bunglows, R.C. Technical Road, Ghatlodia, Ahmedabad – 380 061, Gujarat, India

Date of Birth/Age :

22.11.1975

Date of Appointment :

12.01.2007

DIN No.:

03274507

Name :

Mr. Bharat Shankarlal Patel

Designation :

Director

Address :

57, Ganeshdham Twin Bunglows, R.C. Technical Road, Ghatlodia, Ahmedabad – 380 061, Gujarat, India

Date of Birth/Age :

01.06.1968

Date of Appointment :

12.01.2007

DIN No.:

01674579

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	12-01-07	12-01-07	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12-09-07	12-09-07	Active	NO

Name :

Mr. Ashwin Mafatlal Patel

Designation :

Director

Address :

25/B, Arvind Society, New Sama Village, Vadodara – 380 019, Gujarat, India

Date of Birth/Age :

19.06.196

Date of Appointment :

12.01.2007

DIN No.:

01738482

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	12-01-07	12-01-07	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12-09-07	12-09-07	Active	NO

Name :

Mr. Prakash Shankarlal Patel

Designation :

Director

Address :

19, Pragati Society, Gungadi Road, Patan – 384 265, Gujarat, India

Date of Birth/Age :

28.06.1974

Date of Appointment :

01.04.2007

DIN No.:

01674851

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	01-04-07	01-04-07	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12-09-07	12-09-07	Active	NO

Name :

Mrs. Ramilaben Ashvinkumar Patel

Designation :

Director

Address :

25/B, Arvind Society, New Sama Village, Vadodara – 380 019, Gujarat, India

Date of Birth/Age :

01.06.1963

Date of Appointment :

12.01.2007

DIN No.:

03274537

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 24.09.2011)

Names of Shareholders	No. of Shares
Ashwin Mafatlal Patel	3000
Anitaben Bharatbhai Patel	3000
Bharat Shankarlal Pate	3000
Chandravadan Narayanbhai Patel	3000
Naynaben Chandravadan Patel	3000
Prakash Shankarlal Patel	2000
Ramilaben Ashvinkumar Patel	3000
Total	20000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Pressure Temperature Gauges.
Products :	Pressure Gauge and Accessories Weather Proof Pressure Gauges Diaphragm Seated Pressure Gauges Schaffer and Low Pressure Diaphragm Pressure Gauges Precision Test Pressure Gauges Electric Contact Gauges Utility Pressure Gauges Single Diaphragm Differential Pressure Gauges Pressure Gauge Accessories Snubber Gauge Saver Gauge Syphone Gauge Clock and Needle Valve Manifold Comparison Tester Temperature Gauges Mercury/Gas Filled Temperature Gauges Metal Temperature Gauges Electro Magnetic Flowmeters Digital Pressure Gauges Pressure Transmitters
Exports :
Products :	Pressure Temperature Gauges
Countries :	· Africa · Gulf countries · South America
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Aakar Thermocole Packaging

· Adishwar Sale

· Ansh Engineers

· Bhawal Metal Industries

· CC Engineering

· Datta Enterprises

· Dev Industries

· Dwarkesh Die Tools

· Electromech Engineering Works

· Ganesh Steel Corporation

· Gayatri Electrical Works

· Heera Pharma Chem

· Hi-Tech Industries

· Jinesh Trading Company

· Kaushik S. Sheth and Company

· Maruti Glass Industries

· M A Traders

· Modern Investment Cast Ind.

· Poonam Printer

· Saurin Trading Company

· S. G. Enterprises

· Shah Brothers

· Shah Engineering

Customers :

Wholesalers and Retailers

· Accurun Industries

· Arbuda Industries

· Darshil Trading

· DCW Limited

· Dhiman Associates

· Jekcon Engineering

· Nishi Textile Traders

· National Centre for Quality Calibration

· Patel Oil Agency

· PPI Pumps Private Limited

· Purvi Enterprises

· Raj Enterprises

· Shiwkon Digtek Private Limited

· Shobha Marketing Services

· Techno Instrument

· T M Controls

· Tushar House Private Limited

· Virendra Vikram Enterprises

· Yash International

· Yukta International

No. of Employees :

35 (Approximately)

Bankers :

· Bank of Baroda

Chhatral Branch, At and Post Chhatral, Chhatral – 382729, Gujarat, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
OBC Bank OD A/c	0.781	0.000
Total	0.781	0.000
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
A.B. Patel	0.040	0.005
A.B. Patel – Deposit	(0.036)	0.009
A.M. Patel	(0.005)	0.005
Bharatbhai Patel	0.000	0.300
B.S. Patel	0.000	0.089
B.S. Patel – Deposit	0.374	0.014
C.N. Patel	0.000	0.143
C.N. Patel – Deposit	0.229	0.230
Nayana C. Patel – Deposit	0.158	0.200
N.C. Patel	0.000	0.002
Prakash S. Patel	0.093	0.084
R.M. Patel	0.005	0.005
Total	0.858	1.086

Banking Relations :	--
Auditors :
Name :	Jayesh P. Panchal Chartered Accountants
Address :	201, Anshuri Complex, Usmanpura, Ahmedabad – 380 013, Gujarat, India
PAN No.:	AEZPP7010P
Associates/Subsidiaries :	Metal Tax CNC Private Limited Address: Plot No.116, Phase 1, GIDC, Taluka Kalol, District Chhatral – 382 729, Gujarat, India Line of Business: Manufacturing Sheet Metal Cover.

CAPITAL STRUCTURE

(AS ON 24.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs.0.200 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs.0.200 million

FINANCIAL DATA

[all figures are in Rupees Millions]

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.200	0.200	0.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.208	0.092	0.000
4] (Accumulated Losses)		0.000	0.000	(0.008)
NETWORTH		0.408	0.292	0.192
LOAN FUNDS
1] Secured Loans		0.781	0.000	0.000
2] Unsecured Loans		0.858	1.086	0.000
TOTAL BORROWING		1.639	1.086	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.735
TOTAL		2.047	1.378	0.927
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.681	0.244	0.028
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	0.322	0.219	0.405
	Sundry Debtors	4.015	2.928	2.379
	Cash & Bank Balances	0.192	0.479	0.077
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.100	0.000	0.097
Total Current Assets		4.629	3.626	2.958
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor and Other Current Liabilities	3.248	2.405	2.050
	Provisions	0.022	0.095	0.018
Total Current Liabilities		3.270	2.500	2.068
Net Current Assets		1.359	1.126	0.890
MISCELLANEOUS EXPENSES		0.007	0.008	0.009
TOTAL		2.047	1.378	0.927

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	12.032	9.849	5.913
		Other Income	0.000	0.033	0.066
		TOTAL (A)	12.032	9.882	5.979
Less	EXPENSES
		Cost of Goods Sold	8.535	6.641	4.750
		Direct Expenses	1.681	1.984	0.609
		Indirect Expenses	1.533	1.026	0.497
		TOTAL (B)	11.749	9.651	5.856
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.283	0.231	0.123
Less	FINANCIAL EXPENSES (D)		0.068	0.065	0.093
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.215	0.166	0.030
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.103	0.014	0.000
	PROFIT BEFORE TAX (E-F) (G)		0.112	0.152	0.030
Less	TAX (H)		0.000	0.052	0.000
	PROFIT AFTER TAX (G-H) (I)		0.112	0.100	0.030
	Earnings Per Share (Rs.)		5.62	5.00	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.93	1.01	0.50
Net Profit Margin (PBT/Sales)	(%)	0.93	1.54	0.51
Return on Total Assets (PBT/Total Assets}	(%)	2.11	3.93	1.00
Return on Investment (ROI) (PBT/Networth)		0.27	0.52	0.16
Debt Equity Ratio (Total Liability/Networth)		12.03	12.28	10.77
Current Ratio (Current Asset/Current Liability)		1.42	1.45	1.43

LOCAL AGENCY FURTHER INFORMATION

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 three years	No
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital in the business	No
Details of sister concerns	Yes
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	-----

OPERATIONS

The Directors are hopeful to increase the business and profitability in future.

FORM 8:

Corporate identity number of the company	U29130GJ2007PTC049765
Name of the company	POINTER INSTRUMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 210, Phase - 1, GIDC Industrial Estate, Taluka Kalol, Chhatral – 382729, Gujarat, India pointer210@yahoo.co.in
This form is for	Creation of charge
Type of charge	Book Debts Movable Property
Particular of charge holder	Bank of Baroda Chhatral Branch, AT and Post Chhatral, Chhatral – 382729, Gujarat, India ssichh@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Hypothecation agreement, power of attorney in respect of book debt, letter of undertaking
Date of instrument Creating the charge	21/08/2010
Amount secured by the charge	Rs.3.500 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 3.25% over base rate i.e. 11.25% p.a. on monthly rests. Terms of Repayment On Demand Margin 25% Extent and Operation of the charge Hypothecation of all present and future stocks of raw materials, work-in-process, semi-finished goods and finished goods lying at Plot No. 210, GIDC, Phase-I, Chhatral or at any other place held by the company. Hypothecation of all present and future book debts.
Short particulars of the property charged	Hypothecation of all present and future stocks lying at Plot No. 210, GIDC, Phase-I, Chhatral or at any other place held by the company. Hypothecation of book debts.

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.50.25
UK Pound	1	Rs.79.76
Euro	1	Rs.66.52

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
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	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		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.