MIRA INFORM REPORT

Report Date :

24.04.2012

IDENTIFICATION DETAILS

Name :	DEVINDRA WIRES AND CABLES MACHINERY PRIVATE LIMITED
Registered Office :	K – 72, Kirti Nagar, New Delhi – 110015
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.09.2005
Com. Reg. No.:	55-140964
Capital Investment / Paid-up Capital :	Rs.1.022 Millions
CIN No.: [Company Identification No.]	U29199DL2005PTC140964
TAN No.: [Tax Deduction & Collection Account No.]	DELD10172B
PAN No.: [Permanent Account No.]	AACCD2371C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Wires and Cable Machines.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 4800
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	As claimed by Mr. Manpreet Singh (Director), subject is a successor of Devindra Industries, a proprietory concern started in the year 1974. it is an established company having moderate track. Profitability of the company appears to be low. 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.

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

Name :	Mr. Manpreet Singh
Designation :	Director
Contact No.:	91-9212283842
Date :	24.04.2012

LOCATIONS

Registered Office :	K – 72, Kirti Nagar, New Delhi – 110015, India
Tel. No.:	91-11-41833442/ 43
Mobile No.:	91-9212283842 (Mr. Manpreet Singh)
Fax No.:	91-11-41833443
E-Mail :	dwcm.pvtltd@yahoo.com dec86@ymail.com
Website :	http://www.devendra.co.in
Area :	1500 Sq. ft
Location :	Owned
Head Office :	H – 60, Balinagar, New Delhi – 110015, India
Tel. No.:	91-11-41833442/ 43
Fax No.:	91-11-41833443
Area :	1000 sq. ft.
Location :	Owned
Factory :	335, MIE, Part – A, Bahadurgarh – 124507, Haryana, India
Area :	10000 sq. ft.
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Devinder Singh
Designation :	Director
Address :	K – 72, Kirti Nagar, New Delhi – 110015, India
Date of Birth/Age :	06.05.1944
Qualification :	Graduate
Date of Appointment :	20.09.2005
DIN No.:	00098176
Name :	Mr. Sarabjeet Singh
Designation :	Director
Address :	K – 72, Kirti Nagar, New Delhi – 110015, India
Date of Birth/Age :	18.03.1974
Qualification :	Graduate
Date of Appointment :	20.09.2005
DIN No.:	00098223
Name :	Mr. Manpreet Singh
Designation :	Director
Address :	K – 72, Kirti Nagar, New Delhi – 110015, India
Date of Birth/Age :	04.07.1977
Qualification :	Graduate
Date of Appointment :	20.09.2005
DIN No.:	00098242
Name :	Mrs. Jasvinder Kaur
Designation :	Director
Address :	K – 72, Kirti Nagar, New Delhi – 110015, India
Date of Birth/Age :	12.12.1954
Date of Appointment :	20.09.2005
DIN No.:	00098245

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Devinder Singh	78432
Sarabjeet Singh	2500
Manpreet Singh	6250
Jasvinder Kaur	6875
Parminder Kaur	3750
Manmeet Kaur	4375
Total	102182

(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 and Exporter of Wires and Cable Machines.
Products :	· Cable Machinery · Wire Drawings Machinery · Cable Wire Machinery · Cable Wire Machine Accessories · Cable Machine Equipment · Cable Twisting Machines etc.
Exports :
Products :	Wires and Cable Machines
Countries :	· Bangladesh · Sri Lanka · Nepal
Terms :
Selling :	Invoice
Purchasing :	Invoice

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

25 (Approximately)

Bankers :

· Dena Bank,

Kirti Nagar Branch, New Delhi, India

· Punjab and Sind Bank,

International Banking Division, 6 Scindia House, New Delhi – 110001, India

· HDFC Bank

Facilities :

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Jasvinder Kaur	0.030	0.000
Manmeet Kaur	0.030	0.000
Devinder Singh Ji	0.293	0.063
HDFC Bank (Car Loan)	0.190	0.325
Total	0.543	0.388

Banking Relations :	--
Auditors :
Name :	Akhil Mittal and Associates Chartered Accountant
Address :	S.C.F. – 11, M.I.E., Shopping Centre, Bahadurgarh – 124507, Haryana, India
PAN No.:	ADHPM3564F

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
102182	Equity Shares	Rs.10/- each	Rs.1.022 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		1.022	0.859	0.859
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.183	0.087	0.047
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.205	0.946	0.906
LOAN FUNDS
1] Secured Loans		5.072	0.000	0.000
2] Unsecured Loans		0.543	0.388	0.149
TOTAL BORROWING		5.615	0.388	0.149
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
Share Premium		1.138	0.000	0.000
TOTAL		7.958	1.334	1.055
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.652	4.823	4.485
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.046	0.036	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.163	5.603	5.319
	Sundry Debtors	6.442	2.785	3.509
	Cash & Bank Balances	0.391	1.159	0.468
	Other Current Assets	1.002	2.420	1.792
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		11.998	11.967	11.088
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	5.191	6.245	5.276
	Other Current Liabilities	3.489	9.196	9.223
	Provisions	0.058	0.051	0.041
Total Current Liabilities		8.738	15.492	14.540
Net Current Assets		3.260	(3.525)	(3.452)
MISCELLANEOUS EXPENSES		0.000	0.000	0.022
TOTAL		7.958	1.334	1.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	25.765	17.917	29.565
		Other Income	0.000	0.002	0.003
		TOTAL (A)	25.765	17.919	29.568
Less	EXPENSES
		Raw Material Consumed	21.665	15.171	27.462
		Manufacturing Expenses	0.819	0.596	0.334
		Salary, Wages and Employees Benefits	1.546	0.973	0.862
		Selling and Administrative Expenses	0.927	0.640	0.558
		TOTAL (B)	24.957	17.380	29.216
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.808	0.539	0.352
Less	FINANCIAL EXPENSES (D)		0.201	0.043	0.018
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.607	0.496	0.334
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.464	0.408	0.261
	PROFIT BEFORE TAX (E-F) (G)		0.143	0.088	0.073
Less	TAX (H)		0.046	0.030	0.048
	PROFIT AFTER TAX (G-H) (I)		0.097	0.058	0.025
	Earnings Per Share (Rs.)		1.40	--	--

Particulars	31.03.2012
Sales Turnover (Approximately)	35.000

Expected Sales (2012-13): Rs.45.000 Millions

The above information has been parted by Mr. Manpreet Singh.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.38	0.32	0.08
Net Profit Margin (PBT/Sales)	(%)	0.56	0.49	0.25
Return on Total Assets (PBT/Total Assets}	(%)	0.86	0.52	0.47
Return on Investment (ROI) (PBT/Networth)		0.12	0.09	0.08
Debt Equity Ratio (Total Liability/Networth)		11.91	16.79	16.21
Current Ratio (Current Asset/Current Liability)		1.37	0.77	0.76

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	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
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	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

FUTURE OUTLOOK

Barring unforeseen circumstances the company is looking forward to expand the business activities board base the marketing network, to increase the turnover and hence business of the company.

FORM 8:

Corporate identity number of the company	U29199DL2005PTC140964
Name of the company	DEVINDRA WIRES AND CABLES MACHINERY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	K – 72, KIRTI MARG,NEW DELHI Delhi – 110015, India dwcm.pvtltd@yahoo.com
This form is for	Creation of charge
Type of charge	Immovable Property Other: Current Assets
Particular of charge holder	Punjab and Sind Bank, International Banking Division, 6, Scindia House, New Delhi, Delhi – 110001 jagjit1548@hotmail.com
Nature of instrument creating charge	EM by Deposit of Title Deeds form No 84A Agreement for Hypothecation of Debts and Assets form No 37/66
Date of instrument Creating the charge	31.12.21010
Amount secured by the charge	5.000 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of Interest : Base Rate +5% ie 14% p.a. with monthly rests Terms of Repayment : On Demand Margin : 50% Extent and Operation of the charge : ODP Limit Rs 5.000 Millions Primary security- EM of property no H-60 Bali Nagar New Delhi 110015, valued Rs 11.000 Millions in the name of the company Collateral Security- Hypothecation of Current Assets of the Company including stock in trade and book debts present and future
Short particulars of the property charged	Primary security- EM of property no H-60 Bali Nagar New Delhi 110015, valued Rs 11.000 Millions in the name of the company Collateral Security- Hypothecation of Current Assets of the Company including stock in trade and book debts present and future

FIXED ASSETS:

· Goodwill

· Car

· Computer

· Fax Machine

· Generator

· Plant and Machinery

· Mobile Phone

· Telephone

· Voltage Transformers

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.53.64
UK Pound	1	Rs.86.42
Euro	1	Rs.69.29

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NITA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.