MIRA INFORM REPORT

Report Date :

07.09.2012

IDENTIFICATION DETAILS

Name :	CHANDRA HELICON PUMPS PRIVATE LIMITED
Registered Office :	113/172, Swaroop Nagar, Kanpur-208001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.01.1986
Com. Reg. No.:	20-007631
Capital Investment / Paid-up Capital :	Rs. 0.300 million
CIN No.: [Company Identification No.]	U27202UP1986PTC007631
TAN No.: [Tax Deduction & Collection Account No.]	KNPC01168G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Industrial Pumps.
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 12000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company is incurring a loss from its last two year of operation. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Rajiv Gupta
Designation :	Director
Contact No.:	91-9336104811
Date :	06.09.2012

LOCATIONS

Registered Office :	113/172, Swaroop Nagar, Kanpur-208001, Uttar Pradesh, India
Tel. No.:	91-512-2691554 / 2692142
Mobile No.:	91-9336104811 (Mr. Rajiv Gupta)
Fax No.:	91-512-2691235
E-Mail :	info@heliconpumps.co.in caalokknp@gmail.com
Website :	www.heliconpumps.co.om
Area :	800 sq. ft.
Location :	Owned
Factory 1 :	H-68, Panki Industrial Area, Site No. 1, Kanpur-208022, Uttar Pradesh, India.
Area :	8000 sq. ft
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Suresh Chandra Gupta

Designation :

Director

Address :

113/172, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

29.12.1936

Qualification :

M.Com

Experience:

44 Years

Date of Appointment :

15.01.1986

DIN No :

00115100

Other directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Director	15/01/1986	15/01/1986	-	Active	NO
2	U67120UP1992PTC014502	SRA MARKETING AND CONSULTANTS PRIVATE LIMITED	Director	25/06/1992	25/06/1992	-	Active	NO

Name :

Mr. Rajiv Gupta

Designation :

Director

Address :

113/172, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

05.12.1962

Qualification :

B.Sc (LLB)

Date of Appointment :

02.08.2005

Experience:

28 Years

DIN No :

00121457

Other directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120UP1992PTC014502	SRA MARKETING AND CONSULTANTS PRIVATE LIMITED	Director	25/06/1992	25/06/1992	-	Active	NO
2	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Director	02/08/2005	02/08/2005	-	Active	NO

Name :

Mrs. Neeta Gupta

Designation :

Director

Address :

113/172, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

24.04.1963

Qualification :

BA

Date of Appointment :

02.08.2005

DIN No :

00125982

Name :

Mr. Avinash Chandra Gupta

Designation :

Director

Address :

113/172, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

08.10.1950

Date of Appointment :

15.01.1986

DIN No :

00288171

Name :

Mr. Santosh Chandra Gupta

Designation :

Director

Address :

113/172, Swaroop Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

20.03.1954

Qualification :

Graduate

Date of Appointment :

16.07.2001

DIN No :

00205543

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Suresh Chandra Gupta	1700
Ramesh Chandra Gupta	1100
Satish Chandra Gupta	1000
Avinash Chandra Gupta	1500
Anuradha Gupta	700
Uma Gupta	1200
Rajlaxmi Gupta	500
Pramila Gupta	1500
Rama Gupta	1500
Geeta Gupta	500
Santosh Chandra Gupta	1500
Akhilesh Chandra Gupta	1500
Sarvesh Chandra Gupta	500
Ramkali Gupta	400
Sudhir Gupta	1200
Rajesh Gupta	200
Alok Gupta	1200
Alpana Gupta	1200
Neeta Gupta	1200
Rajiv Gupta	1200
Surabhi Gupta	1200
Amarnath Gupta	1000
Amit Gupta	500
Anjana Gupta	1000
Ashok Kumar Shukla	1000
Prateek Omar	1000
Ram Kumar Gupta	1000
Sachin Gupta	1000
Shiv Gopal Gupta	1000
Total	30000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	96.67
Other top fifty shareholders	3.33
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Industrial Pumps.
Products:	Machinery Parts
Exports :
Products :	Industrial Pumps
Countries :	· Saudi Arabia · Africa
Terms :
Selling :	L/C
Purchasing :	L/C

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Actual Production
Pumps	NOS	222

GENERAL INFORMATION

Customers :

Retailers and End Users

No. of Employees :

40 (Approximately)

Bankers :

Bank of Baroda, SSI Branch, Sarvodaya Nagar, Kanpur-208005, Uttar Pradesh, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Bank of Baroda (Secured against of Car)	0.166	0.213
Total	0.166	0.213
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
a. From Shareholder's and Relatives	4.451	3.810
b. Directors in current a/c	0.367	0.476
Total	4.818	4.286

Banking Relations :	--
Auditors :
Name :	A N Singh and Associates Chartered Accountant
Address :	119/64-A, Naseema Road, Kanpur-208012, Uttar Pradesh, India
PAN No:	ABTPS6201P
Enterprises in which directors or their relatives are interested	· SRA Marketing and Consultants Private Limited · SRA Helicon Hitech Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 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		0.300	0.300	0.300
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.820	2.862	2.885
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.120	3.162	3.185
LOAN FUNDS
1] Secured Loans		0.166	0.213	0.121
2] Unsecured Loans		4.818	4.286	3.349
TOTAL BORROWING		4.984	4.499	3.470
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.104	7.661	6.655
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.326	2.644	2.842
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.100	0.100	0.100
DEFERREX TAX ASSETS		0.260	0.146	0.130
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.237	4.728	3.678
	Sundry Debtors	1.012	1.258	1.184
	Cash & Bank Balances	1.165	0.596	1.333
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.467	3.002	2.603
Total Current Assets		9.881	9.584	8.798
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.428	1.107	1.707
	Other Current Liabilities	1.211	1.123	0.931
	Provisions	2.824	2.583	2.577
Total Current Liabilities		4.463	4.813	5.215
Net Current Assets		5.418	4.771	3.583
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.104	7.661	6.655

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	15.551	15.142	14.562
		Other Income	0.148	0.065	0.054
		TOTAL (A)	15.699	15.207	14.616
Less	EXPENSES
		Purchase for Trading	0.277	0.413	0.000
		Raw material consumed	2.713	2.313	2.238
		Manufacturing, administrative and selling overhead	12.024	11.798	11.320
		Increase or decrease in stock	(0.387)	(0.325)	(0.276)
		TOTAL (B)	14.627	14.199	13.282
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.072	1.008	1.334
Less	FINANCIAL EXPENSES (D)		0.710	0.575	0.488
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.362	0.433	0.846
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.394	0.466	0.506
	PROFIT BEFORE TAX (E-F) (G)		(0.032)	(0.033)	0.340
Less	TAX (H)		0.010	(0.010)	0.168
	PROFIT AFTER TAX (G-H) (I)		(0.042)	(0.023)	0.172
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.859	2.882	2.710
	BALANCE CARRIED TO THE B/S		2.817	2.859	2.882
	Earnings Per Share (Rs.)		(1.39)	(0.78)	5.73

Particulars	31.03.2012
Sales Turnover (Approximately)	22.500

Expected Sales (2012-2013): Rs.25.000 millions

The above information has been parted by Mr. Rajiv Gupta.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(0.27)	(0.15)	1.18
Net Profit Margin (PBT/Sales)	(%)	(0.21)	(0.22)	2.33
Return on Total Assets (PBT/Total Assets}	(%)	(0.26)	(0.27)	2.92
Return on Investment (ROI) (PBT/Networth)		0.01	(0.01)	0.11
Debt Equity Ratio (Total Liability/Networth)		3.03	2.94	2.73
Current Ratio (Current Asset/Current Liability)		2.21	1.99	1.69

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
8]	No. of employees	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Financial Results

During the year, the company achieved the turnover of Rs. 15.551 Millions as compared to Rs.15.142 Millions in previous year. During the year the company suffered loss of Rs.0.042 Million as compared to loss of Rs. 0.023 Million in previous year. The balance carried to Balance Sheet after set off current loss is Rs.2.817 Millions.

Bankers Charges Report as per Registry

Corporate identity number of the company	U27202UP1986PTC007631
Name of the company	CHANDRA HELICON PUMPS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	113/172, Swaroop Nagar, Kanpur-208001, Uttar Pradesh, India
This form is for	Creation of charge
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Bank of Baroda, SSI Branch, Sarvodaya Nagar, Kanpur-208005, Uttar Pradesh, India ssikan@bankofbaroda.co.in
Nature of instrument creating charge	Instrument of hypothecation of vehicle in LDOC 20
Date of instrument Creating the charge	06.04.2009
Amount secured by the charge	Rs.0.250 million
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 2.25% below the prime lending rate of bank per annum Terms of Repayment 60 EMI of Rs.0.005 million each Margin RS.0.048 million Extent and Operation of the charge 100% of Rs.0.250 million against spark Chevrolet car
Short particulars of the property charged	Spark Chevrolet car lying at h 68 Panki Industrial Area site 1 Kanpur

FIXED ASSETS:

• Land
• Building
• Car
• Computer
• Furniture
• Generator
• Machines
• Office Equipments
• Tools and Implements
• Tubewell
• Vehicles

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.55.97
UK Pound	1	Rs.89.02
Euro	1	Rs.70.61

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	DPK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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		27

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.