MIRA INFORM REPORT

Report Date :

04.04.2013

IDENTIFICATION DETAILS

Name :	ATC PRECISION COMPONENTS PRIVATE LIMITED
Registered Office :	B-140, Phase I, Mayapuri Industrial Area, New Delhi – 110 064, Delhi
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.07.2005
Com. Reg. No.:	55-138258
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U28999DL2005PTC138258
TAN No.: [Tax Deduction & Collection Account No.]	DELA16480C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Precision Plastic Components and Moulds.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 129000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as decent. Business is active. Payments are reported to be usually correct. The company can be considered 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 – 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.

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.

LOCATIONS

Registered Office/ Plant I :	B-140, Phase I, Mayapuri Industrial Area, New Delhi – 110 064, India
Tel. No.:	91-11- 28117022, 41833313
Fax No.:	91-11- 28117022, 41833313, 28117988
E-Mail :	info@atcprecomp.com marketing@atcprecomp.com
Website :	http://www.atcprecomp.com
Plant II :	Plot No.201, Sector 6, IMT Manesar – 122 050, Haryana, India
Tel. No.:	91-124-4367590

DIRECTORS

As on 30.09.2012

Name :	Mr. Ravinder Ved Prakash Maniktala
Designation :	Managing Director
Address :	B-1/15, Janak Puri, New Delhi – 110 058, India
Date of Birth/Age :	15.04.1952
Date of Appointment :	04.07.2005
DIN No.:	00501182
PAN No.:	AAHPM8921H
Name :	Ms. Sujata Manikatal
Designation :	Director
Address :	B-1/15, Janak Puri, New Delhi – 110 058, India
Date of Birth/Age :	16.05.1959
Date of Appointment :	04.07.2005
DIN No.:	00501294
PAN No.:	AAQPM4196F
Name :	Mr. Abhishek Ravinder Maniktala
Designation :	Director
Address :	B-1/15, Janak Puri, New Delhi – 110 058, India
Date of Birth/Age :	11.04.1982
Date of Appointment :	17.06.2006
DIN No.:	00390985
PAN No.:	AGBPM7389K
Name :	Mr. Ankit Ravinder Maniktala
Designation :	Director
Address :	B-1/15, Janak Puri, New Delhi – 110 058, India
Date of Birth/Age :	11.05.1985
Date of Appointment :	17.06.2006
DIN No.:	00390949
PAN No.:	AJTPM0579L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2012

Names of Shareholders	No. of Shares
Ravinder Maniktala	819480
Sujata Maniktala	180500
Abhishek Maniktala	10
Ankit Maniktala	10
Total	1000000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Precision Plastic Components and Moulds.

GENERAL INFORMATION

Customers :

• Minda
• Autometers Alliance Limited
• Honda Power Products
• Precision Pipes an Profiles Company Limited
• Theeta Electricals Private Limited
• Motherson Sumi Systems Limited
• Moser Baer

No. of Employees :

Not Available

Bankers :

• State Bank of India

5 B/4 Tilak Nagar, New Delhi - 110018, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Short Term Borrowings
Term Loans
Indian rupee loan from Banks	3.694	7.148
Short Term Borrowings
Loans Repayable On Demand
From Banks	22.370	19.192
Total	26.064	26.340

Note :

The Term Loan from bank is secured by exclusive first charge over entire fixed assets acquired out of existing term loan excluding already encumbered vehicles and plant and machinery.

Further, the loan has been secured by exertion of equitable mortgage on Residential Property situated at B-1/15,jank Puri ,New Delhi,

owned by director Smt Sujata Maniktala and over entire unencumbered fixed assets of the company besides extension of personal guarantee of all directors of the company.

Banking Relations :	--
Auditors :
Name :	Anil Khatri and Company Chartered Accountants
Address :	V-2, Rajouri Garden, New Delhi – 110 027, India
PAN.:	AATFA2958A
Enterprises owned or significantly influenced by key management personnel or their relatives :	Ravilink Engineering Companies Private Limited

CAPITAL STRUCTURE

As on 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.000	9.680	9.680
2] Share Application Money		0.000	3.300	3.300
3] Reserves & Surplus		22.260	12.197	6.845
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		32.260	25.177	19.825
LOAN FUNDS
1] Secured Loans		26.064	26.340	40.345
2] Unsecured Loans		16.978	10.428	5.998
TOTAL BORROWING		43.042	36.768	46.343
DEFERRED TAX LIABILITIES		2.318	1.933	0.866
TOTAL		77.620	63.878	67.034
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		47.456	44.110	41.387
Capital work-in-progress		0.976	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	32.515	22.440	18.536
	Sundry Debtors	27.235	28.464	19.227
	Cash & Bank Balances	0.871	0.453	0.593
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7.008	5.307	5.588
Total Current Assets		67.629	56.664	43.944
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	20.001	15.237	10.272
	Other Current Liabilities	17.752	21.481	7.519
	Provisions	0.688	0.178	0.514
Total Current Liabilities		38.441	36.896	18.305
Net Current Assets		29.188	19.768	25.639
MISCELLANEOUS EXPENSES		0.000	0.000	0.008
TOTAL		77.620	63.878	67.034

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Gross Turnover and Other Receipts	181.918	163.578	90.283
		Other Income	N.A	N.A	N.A
		TOTAL	N.A	N.A	N.A
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	166.251	148.954	83.097
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		15.667	14.624	7.186
Less/ Add	DEPRECIATION/ AMORTISATION		7.544	6.877	4.281
	PROFIT BEFORE TAX		8.123	7.747	2.905
Less	TAX		2.536	2.395	0.990
	PROFIT AFTER TAX		5.587	5.352	1.915
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12.197	6.845
	BALANCE CARRIED TO THE B/S		17.784	12.197	N.A
	IMPORTS
		Raw Materials	2.994	0.976	N.A
		Capital Goods	0.000	1.626	N.A
	TOTAL IMPORTS		2.994	2.602	N.A
	Earnings Per Share (Rs.)		5.59	N.A	1.98

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	7.06	7.69	3.40
Return on Investment (ROI) (PBT/Networth)		0.25	0.31	0.15
Debt Equity Ratio (Total Debt /Networth)		1.33	1.46	3.26
Current Ratio (Current Asset/Current Liability)		1.76	1.54	2.40

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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U28999DL2005PTC138258
Name of the company	ATC PRECISION COMPONENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Email : info@atcprecomp.com
This form is for	Creation of charge
Type of charge	Immovable property Book debts All current asset/stocks, unencumbered fixed asset
Particular of charge holder	State Bank of India 5 B/4 Tilak Nagar, New Delhi - 110018, Delhi, India Email : sbi.01551@sbi.co.in
Nature of instrument creating charge	Agreement of Loan cum Hypothecation executed on 5th May 2012 between the company and SBI for sanction of credit facilities of Rs. 40.900 Millions.
Date of instrument Creating the charge	05.05.2012
Amount secured by the charge	Rs. 40.900 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Working capital: Interest @ 3.50% margin above base rate. Term loan: Interest @ 4% margin above base rate. Terms of Repayment Working capital: Repayable on demand. Term Loan: As per original Loan agreement. Margin A) Fund based limit: a) Raw materials and finished goods: 25% b) domestic receivables: 40% B) Non-fund based: a) Letter of credit: 20% Extent and Operation of the charge As per the Loan cum Hypothecation agreement.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Entire current assets/stocks, all present/future book debts and receivables. Residential property situated at B-1/15, Janakpuri, New Delhi measuring 323 sq. yards in the name of Smt. Sujata Maniktala.

UNSECURED LOAN :

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Short Term Borrowings
Deposits	4.500	3.774
Loans and advances from Related Parties	12.478	6.191
Long-Term maturities of Finance Lease Obligations	0.000	0.463
Total	16.978	10.428

Note :

Unsecured Borrowings Carries Rate of Interest 13% to 15 % per annum.

OPERATIONS :

The company continued to retain a good market presence and acceptance for its products in domestic as well as overseas markets.

During the year, the company has achieved gross turnover of Rs181.588 Millions as compared to Rs. 162.955 Millions in the previous year registering a growth of 11.43% in its operations.

The company earned a Profit before tax of Rs.8.123 Millions for the year as compared to Rs.7.747 Millions in corresponding previous year registering a growth of 4.85% over the previous year.

The company expects to maintain the momentum of growth in the years to come. The company is committed to its tradition of being cost effective, by responding faster to changing requirements of the market, by expanding its distribution network and further strengthening its strong capital base.

FINANCE :

The Company is regularly banking with State Bank of India enjoying regular credit facilities from the said bank. The company has taken fresh exposure during the year both for long term needs and short term working capital requirements of the business.

FUTURE PROSPECTS :

The future outlook of the company’s business is reasonably bright. However, the profitability is closely linked to the competition in the domestic.

The company is making continuous efforts to increase its market share in the domestic market also.

FIXED ASSETS :

• Land
• Building
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment

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 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.54.39
UK Pound	1	Rs.82.05
Euro	1	Rs.69.59

INFORMATION DETAILS

Report Prepared by :

RSMK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.