MIRA INFORM REPORT

Report Date :

13.02.2013

IDENTIFICATION DETAILS

Name :	UNIQUE INDUSTRIAL HANDLERS PRIVATE LIMITED
Registered Office :	206-207, Nahar and Seth Industrial, Estate, Chakala, Andheri (East), Mumbai – 400099, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.08.1983
Com. Reg. No.:	11-030709
Capital Investment / Paid-up Capital :	Rs. 60.000 Millions
CIN No.: [Company Identification No.]	U29299MH1983PTC030709
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Assembly of EOT Cranes, Goliath Cranes, Transfer Cars, Winches And Other Equipment.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1610000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears slight fall in its profitability during the current year. However, general financial position of the company appears to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB+ (Long Term loan )
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial objection it carry moderate credit risk.
Date	February 2012

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/ Head office :	206-207, Nahar and Seth Industrial, Estate, Chakala, Andheri (East), Mumbai – 400099, Maharashtra, India
Tel. No.:	91-22-28390071 / 28352019
Fax No.:	91-22-28378226 / 28210006
E-Mail :	sales@unicrane.com accounts@unicrane.com
Factory 1 :	Plot No. E-66/E-77, MIDC, Ambad, New Nashik Industrial Area, Nashik – 422010, Maharashtra, India
Tel. No.:	91-253-2383177 / 6620601 / 602 / 603
Fax No.:	91-253-2381380
E-Mail :	works@unicrane.com
Factory 2 :	135-140 / 142-148, A/P Village Gonde Dumala, Taluka, Lgatpuri, District Nashik – 422403, Maharashtra, India
Tel. No.:	91-2553-225102
E-Mail :	works@unicrane.com
Branch Office:	Located At: · New Delhi · Chennai · Kolkata

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Arjan Satramdas Vaswani

Designation :

Director

Address :

4, Seamist, Golden Acres, Ruia Park, JVPD Scheme, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

06.06.1938

Qualification :

B.E

Date of Appointment :

15.07.1993

Din No.:

01084088

Name :

Mr. Jetho Gurmukhdas Tahiliani

Designation :

Director

Address :

702, Sea King, Band Stand, Bandra (West), Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

20.07.1942

Qualification :

B.E

Date of Appointment :

27.08.1983

Din No.:

01084183

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	U29299MH1983PTC030709	UNIQUE INDUSTRIAL HANDLERS PRIVATE LIMITED	Director	27/08/1983	27/08/1983	-	Active	NO
2	U45201DL2004PTC129845	SHREE RADHEY REALTORS PRIVATE LIMITED	Additional director	27/07/2009	27/07/2009	30/12/2011	Active	NO
3	U72900DL2007PTC157910	MBM COMPUTERS PRIVATE LIMITED	Additional director	17/08/2009	17/08/2009	-	Active	NO

Name :

Mr. Jagdish Hariram Badlani

Designation :

Director

Address :

8, Savijay, 29th Road, Bandra (West), Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

04.02.1946

Qualification :

B.E

Date of Appointment :

27.08.1983

Din No.:

01084251

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Jagdish Hariram Badlani	20000000
Jetho Gurmukhdas Tahiliani	20000000
Arjan Satramdas Vaswani	20000000
TOTAL	60000000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :

Manufacture and Assembly of EOT Cranes, Goliath Cranes, Transfer Cars, Winches And Other Equipment.

Products :

DESCRIPTION OF PRODUCT OR SERVICES	ITC NUMBER OF PRODUCT
E.O.T and H.O.T Cranes	842611

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	31.03.2011
Licensed Capacity		N.A
Installed Capacity	Nos.	165
Actual Production	Nos.	109

NOTES: Installed capacity is as certified by the Management, not verified by Auditors, being a technical matter.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Canara Bank, Prime Corporate Branch II, Varma Chambers, 2^nd Floor, Homji Street, Mumbai-400001, Maharashtra, India

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

· Canara Bank, Abdul Rehman Street 348/52 , Zaveri Building Mumbai-400003, Maharashtra, India

· Canara Bank, A R Street, Mumbai-400003, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Term Loans From Banks	45.519	66.361
Short Term Loans	90.988	67.595
TOTAL	136.507	133.956

Banking Relations :	--
Auditors :
Name :	B.G. Baliga and company Chartered Accountants
Address :	515,Marathon Max, Mulund Goregoan Link Road, Mulund, (West), Mumbai-400080, Maharashtra, India
PAN No:	AAAFB9940N

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000000	Equity Shares	Re.1/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000000	Equity Shares	Re.1/- each	Rs.60.000 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		60.000	60.000	60.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		344.039	290.698	252.628
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		404.039	350.698	312.628
LOAN FUNDS
1] Secured Loans		136.507	133.956	171.633
2] Unsecured Loans		124.059	90.195	66.232
TOTAL BORROWING		260.566	224.151	237.865
DEFERRED TAX LIABILITIES		14.595	11.994	8.850
TOTAL		679.200	586.843	559.343
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		250.396	234.276	240.886
Capital work-in-progress		0.000	17.503	0.000
INVESTMENT		1.987	1.987	1.987
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	160.619	176.027	145.195
	Sundry Debtors	629.153	506.061	450.461
	Cash & Bank Balances	53.498	56.330	45.696
	Other Current Assets	0.699	1.448	0.000
	Loans & Advances	60.232	50.673	130.717
Total Current Assets		904.201	790.539	772.069
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	334.662	292.302	227.059
	Other Current Liabilities	91.369	77.463	48.653
	Provisions	51.353	87.697	179.887
Total Current Liabilities		477.384	457.462	455.599
Net Current Assets		426.817	333.077	316.470
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		679.200	586.843	559.343

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			1044.824
		Other Income			9.179
		TOTAL (A)	997.129	999.263	1054.003
Less	EXPENSES
		Material			525.510
		Personnel	895.076	823.533	51.261
		Operation and Establishment Expenses			128.402
		Lease Write Off			0.050
		TOTAL (B)	895.076 [Including Financial Expenses]	823.533 [Including Financial Expenses]	705.223
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				348.780
Less	FINANCIAL EXPENSES (D)				18.893
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		102.053	175.730	329.887
Less/ Add	DEPRECIATION/ AMORTISATION (F)		10.020	9.015	5.121
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		92.033	166.715	324.766
Less	TAX (H)		31.532	58.477	112.183
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		60.501	108.268	212.583
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		164.376	150.841	32.291
Add	PRIOR YEAR ADJUSTMENT		0.000	0.000	1.165
Less	APPROPRIATIONS
		Transfer to General Reserve	15.000	25.000	25.000
		Proposed Final Dividend	6.000	60.000	10.197
		Tax on Dividend	0.973	9.966	60.000
		Excess Provision of Prior Year	(0.232)	(0.232)	0.000
	BALANCE CARRIED TO THE B/S		203.136	164.375	150.842
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	25.649	49.340	10.574
	Earnings / (Loss) Per Share (Rs.)		1.00	1.80	3.56

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.07	10.83	20.17
Net Profit Margin (PBT/Sales)	(%)	NA	NA	31.08
Return on Total Assets (PBT/Total Assets}	(%)	7.97	16.27	32.06
Return on Investment (ROI) (PBT/Networth)		0.23	0.48	1.04
Debt Equity Ratio (Total Debt/Networth)		0.64	0.64	0.76
Current Ratio (Current Asset/Current Liability)		1.89	1.73	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	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	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 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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE:

The registered office of the company has been shifted from D-61, Aram Co-operative Housing Society Limited, Vakola, Santacruz, Mumbai-400055, Maharashtra, India to the present address w.e.f. 01.03.2007.

YEAR IN RETROSPECT:

The sales and other income for the financial year were Rs.997.129 Millions as against Rs.999.263 Millions for the previous financial year registering a decrease of 0.21%. The profit before tax and exceptional items(after interest and depreciation charges) of Rs.92.033 Millions and the profit after tax and exceptional items of Rs.60.501 Millions for the financial year as against Rs.166.715 Millions and Rs.108.268 Millions respectively for the previous financial year.

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Deferred Payment Liabilities	4.059	4.602
Loans and Advances From Related Parties	120.000	85.593
TOTAL	124.059	90.195

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90186769
Corporate identity number of the company	U29299MH1983PTC030709
Name of the company	UNIQUE INDUSTRIAL HANDLERS PVT LTD
Address of the registered office or of the principal place of business in India of the company	206-207, Nahar and Seth Industrial, Estate, Chakala, Andheri (East), Mumbai – 400099, Maharashtra
Type of charge	Immovable Property
Particular of charge holder	Canara Bank, Prime Corporate Branch II, Varma Chambers, 2^nd Floor, Homji Street, Mumbai-400001, Maharashtra, India Email: kadamdd@canarabank.com
Nature of description of the instrument creating or modifying the charge	No instrument was executed. Charge created by way of equitable mortgage by deposit of title deeds by constructive delivery.
Date of instrument Creating the charge	24.04.2012
Amount secured by the charge	Rs.717.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge Security to cover the principal sum together with interest and all other money that may be due to the bank.
Short particulars of the property charged	Immovable property being Plot No. E-77 and E-66 admeasuring 7638 sq. mtrs. and 4050 sq. mtrs respectively located at Additional Nasik Industrial Area, Village Ambad, Taluka and District Nasik Including all buildings thereon and all machinery therein or to be brought therein.
Date of latest modification prior to the present modification	18.03.2009
Particulars of the present modification	Charge over immovable properties viz., Plot No.E-77 and E-66 located at Additional Nasik Industrial Area, Village Ambad, Nasik is now extended to secure the enhanced credit facilities aggregating Rs.715.000 Millions. The enhanced limits are now availed by the company from Canara Bank, Prime Corporate Branch II. Therefore, the title deeds of the aforesaid immovable properties which were originally kept at it's A.R. Street Branch is brought to Prime Corporate Branch II, Fort, Mumbai.

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.53.95
UK Pound	1	Rs.84.49
Euro	1	Rs.72.23

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
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	6
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.