MIRA INFORM REPORT

Report Date :

23.05.2012

IDENTIFICATION DETAILS

Name :	POWERCAST MANUFACTURING INC
Registered Office :	540 Industrial Blvd., St-Eustache, Quebec J7R 5V3
Country :	Canada
Year of Establishment :	1978
Legal Form :	Corporation for Profit
Line of Business :	It markets permanent mold aluminium castings.
No. of Employees :	Between 50 to 99 people

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Canada	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS – CANADA
POLITICAL DATA	ECONOMIC DATA
Form of Government: Federal Economic Risk: Nil	Currency: 1.00 CAD = 0.980145 USD Branch Situation: Stable

IDENTIFICATION
Legal Name:	POWERCAST MANUFACTURING INC
Trade Name:	FABRICATION POWERCAST INC
Legal Address	540 Industrial Blvd., St-Eustache, Quebec J7R 5V3, Canada
Operative Address	540 Industrial Blvd., St-Eustache, Quebec J7R 5V3, Canada
Telephone:	+1 (450) 473-1517	ID :	1160514866
Fax:	+1 (450) 473-5591	Legal Form:	Corporation for Profit
Email:	mrktg@powercast.ca	Registered in:	Canada
Website:	http://www.powercast.ca/	Date Created:	1978
Manager:	Krishan Gupta, President	Date Incorporated:	January 7th 2002
Staff:	Between 50 to 99 people	Stock:	NA
		Value:	NA
Activity:	It markets permanent mold aluminium castings.

BANKS
Name of the Bank	Royal Bank of Canada
BUSINESS
HISTORY
	The company was created in 1978.
PRINCIPAL ACTIVITY
	It markets permanent mold aluminium castings.
Products/Services description:
	Powercast specialises in the production of aluminium castings of various complexities made to customer specifications, and was the first aluminium foundry to introduce the permanent mold and semi-permanent mold process to Eastern Canada. Some of the parts produced include brackets, various pump and engine housings, pulleys, flanges, impellers, bases, fixtures, drains, cover plates, hubs, frames, handles, boxes, enclosures, etc. and many more. Typical casting sizes range from 50 g to 70 kg (1.5 ounces to 150 lb). Powercast offers a one-stop-shop solution to small and large manufacturers located across Canada, USA, Mexico, Europe and South America.
Sales are:
	Wholesale
Clients:
	Its clientele is spread among a wide range of industries, namely Electrical Power, Telecommunications, Transportation, Lighting, OEM, Construction, Recreational, Furniture, etc.
Operations area:
	National, Local
The company imports from USA and other countries depending on demand.
The company exports to USA, mainly; Mexico, Europe and South America
Trade References:
	We couldn’t contact a person at the company’s to provide us the trade references.
The subject employs Between 50 to 99 people employee(s)
Comments on staff:
	We found from other sources that the company would employ 55 people. This information could not be confirmed by the staff.
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 540 Industrial Blvd., St-Eustache, Quebec J7R 5V3, Canada.
Surface area:
	2780 square-metre

Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. It is a wholly owned subsidiary of POWERCAST INC. Both companies share the same location and are managed by Krishan Gupta.
Management:
	Krishan Gupta, President

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted the business and we were directed to a voicemail while looking for an Accountant. We left them a message.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Comments on the financial data: The company would have an estimated annual revenue for fiscal year 2011 in a range between $10 to $20 Million (CAD).

This information was not confirmed by the staff.

Legal Fillings

The sources consulted record no detrimental legal or labor court information.

Rating
Local credit bureau gave a Correct credit rate. The company is in Good Standing. This means that all local and federal taxes were paid on due date.
Final Opinion
	The subject is a medium size Canadian company. It started its operations in 1978. Therefore, it has a very good experience in its field. POWERCAST MANUFACTURING INC is also doing business as FABRICATION POWERCAST INC. It is a leader in the field of permanent mold aluminium castings. The company is well positioned in the market and seems to have a good business structure. No collections of legal actions were traced against the subject during the course of this investigation.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public	NO
Indebtedness	N.A.	Payments	REGULAR
Cash	N.A.

APPENDIX
Comments
	We were directed to a voicemail while trying to reach an Accountant. We left a message but we haven't received an answer yet.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.88
UK Pound	1	Rs.86.84
Euro	1	Rs.70.21

INFORMATION DETAILS

Report Prepared by :

PRL

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	--

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.