MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	RECORD MACHINERIES PRIVATE LIMITED
Registered Office :	P-72, Kasba Industrial Estate, Phase-II, E.M. Bypss, Kolkata – 700107, West Bangal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.03.1993
Com. Reg. No.:	21-058420
Capital Investment / Paid-up Capital :	Rs. 0.600 Million
CIN No.: [Company Identification No.]	U29298WB1993PTC058420
TAN No.: [Tax Deduction & Collection Account No.]	CALR02186C
Legal Form :	Private Limited Liability Company
Line of Business :	Exporting, Manufacturer, Supplying of Hydraulic paper cutting machine, hydraulic guillotine.
No. of Employees :	Not Available

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 8000
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.

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. Subhasis Dasgupta
Designation :	Director
Contact No.:	91-9830686386
Date :	05.05.2012

LOCATIONS

Registered Office :	P-72, Kasba Industrial Estate, Phase-II, E.M. Bypss, Kolkata – 700107, West Bangal, India
Tel. No.:	91-33-24428817/40012518
Mobile No.:	91-9830686386 (Mr. Subhasis Dasgupta)
Fax No.:	91-33-24420091
E-Mail :	hycutml@vsnl.com
Website :

DIRECTORS

As on 26.09.2011

Name :

Mr. Subhasis Dasgupta

Designation :

Managing Director

Address :

21 C Southend Park, Kolkata – 700029, West Bangal, India

Date of Birth/Age :

31.08.1941

Date of Appointment :

31.03.1993

DIN No.:

00647459

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29298WB1993PTC058420	RECORD MACHINERIES PVT LTD.	Managing director	31/03/1993	31/03/1993	-	Active	NO
2	U51909WB1928PTC006080	INDO SWISS TRADING CO PVT LTD	Director	22/11/1995	22/11/1995	-	Active	NO

Name :

Mr. Ashoke Jyoti Barman

Designation :

Whole –time Director

Address :

04.03.1941

Date of Birth/Age :

135 Kanungo Park Garia, Kolkata – 700084, West Bangal, India

Date of Appointment :

01.06.1998

DIN No.:

00658801

Name :

Mrs. Madhumita Dasgupta

Designation :

Whole –time Director

Address :

21 C Southend Park, Kolkata – 700029, West Bangal, India

Date of Birth/Age :

15.03.1962

Date of Appointment :

31.03.1993

DIN No.:

00658756

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2011

Names of Shareholders	No. of Shares
Subhasis Dasgupta	2055
Madhumita Dasgupta	1740
Ashoke Jyoti Barman	100
Snehashish Dasgupta	2105
Total	6000

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporting, Manufacturer, Supplying of Hydraulic paper cutting machine, hydraulic guillotine.

PRODUCTION STATUS AS on 31.03.2011

Particulars	Unit	Actual Production
Paper cutting Hydraulic	M/cs	24

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of Baroda, 837 Rajdanga Main Road, Kolkata – 700107, West Bengal, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Overdraft from Bank of Baroda	0.736	0.431
Car Loan From HDFC Bank Limited	0.233	0.000
Total	0.969	0.431
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Sybhasis Dasgupta	0.035	0.035
Madhumita Dasgupta	0.000	0.010
Total	0.035	0.045

Banking Relations :	--
Auditors :
Name :	P. Majumdar and COmpany Chartered Accountant
Address :	301/2, Lenin Sarani, Kolkata – 700014, West Bengal, India
PAN.:	AAAAP1127A

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs. 1.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6000	Equity Shares	Rs.100/- each	Rs. 0.600 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		0.600	0.600	0.550
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.559	1.170	0.768
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.159	1.770	1.318
LOAN FUNDS
1] Secured Loans		0.969	0.431	0.000
2] Unsecured Loans		0.035	0.045	0.091
TOTAL BORROWING		1.004	0.476	0.091
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.163	2.246	1.409
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.241	2.107	1.951
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	0.504	0.312	0.421
	Sundry Debtors	0.657	0.019	0.122
	Cash & Bank Balances	1.181	1.142	0.838
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.016	0.859	0.809
Total Current Assets		3.358	2.332	2.190
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.769	0.741	0.748
	Other Current Liabilities	1.059	0.994	1.578
	Provisions	0.608	0.458	0.406
Total Current Liabilities		2.436	2.193	2.732
Net Current Assets		0.922	0.139	(0.542)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.163	2.246	1.409

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	INCOME	1.456	1.270	0.100
	EXPENDITURE	1.413	0.720	0.009
	PROFIT BEFORE TAX	0.538	0.549	0.003
Less	TAX	0.171	0.162	0.001
	PROFIT AFTER TAX	0.367	0.387	0.002
	Earnings Per Share (Rs.)	61.16	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	25.21	30.47	2.00
Return on Total Assets (PBT/Total Assets}	(%)	16.02	23.54	0.14
Return on Investment (ROI) (PBT/Networth)		0.25	0.31	0.00
Debt Equity Ratio (Total Liability/Networth)		1.13	1.24	2.07
Current Ratio (Current Asset/Current Liability)		1.38	1.06	0.80

LOCAL AGENCY FURTHER INFORMATION

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	No
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

FINANCIAL RESULTS

A satisfactory growth in infra-structure of the company by additions of new machinery and tools, had been made further by long – term and sales promotion activities by participation in industrial fair business tours and by quality control of the company’s product have gained much popularity in the printing industry. Gradually the market demand of the company’s products has been increasing. The director had become successful to minimize the cost of production and reduce manpower-cost by improved Technology and capital expenditure this year.

FIXED ASSETS

· Factory Building

· Furniture and Fixture

· Plant and Machinery

· Pattern and Design

· Tools and Implements

· Electric Installation

· Type Writer

· Cycle

· Fire Extinguisher

· Office Equipments

· Crane

· Computer

· Air Conditioner

· Motor Car

· Motor Cycle

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.54.87
UK Pound	1	Rs.86.46
Euro	1	Rs.69.48

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	KVT

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	NO
--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		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.