MIRA INFORM REPORT

Report Date :

07.01.2013

IDENTIFICATION DETAILS

Name :	RAJDEEP AUTOMATION PRIVATE LIMITED
Formerly Known As :	S S CONTROLS AND AUTOMATION PRIVATE LIMITED
Registered Office :	3^rd Floor, Survey No. 143, Vadgaon Dhayari, Pune – Sinhagad Road, Pune – 411041, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	21.06.1999
Com. Reg. No.:	25-17928
Capital Investment / Paid-up Capital :	Rs.7.807 Millions
CIN No.: [Company Identification No.]	U32109PN1999PTC017928
TAN No.: [Tax Deduction & Collection Account No.]	PNER05568D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Electronic and Electrical Machinery Parts like Sensor, Encoder and Counter.
No. of Employees :	70 [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 340000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The management has failed to file the financial detail for the year 2010-2011, 2011-2012. However, from the previous year record company having satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealing with some caution.

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 (General Details)

Name :	Mr. Tukaram
Designation :	Accounts Manager
Contact No.:	91-9326033673
Date :	04.01.2013

LOCATIONS

Registered Office/Factory :	3^rd Floor, Survey No. 143, Vadgaon Dhayari, Pune – Sinhagad Road, Pune – 411041, Maharashtra, India
Tel. No.:	91-20-24393755/ 32540067
Mobile No.:	91-9326033673 (Mr. Tukaram)
Fax No.:	91-20-24393756
E-Mail :	sales@rajdeep.in ashar@rajdeep.in info@rajdeep.in,
Website :	http://www.rajdeep.in
Area :	5000 Sq. ft.
Location :	Owned
Corporate Office :	Janaki Niwas, Navakal Press Marg, Khadilkar Road, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23864105/ 23828092/ 32935216
Fax No.:	91-22-23893252
E-Mail :	sales@rajdeep.in info@rajdeep.in
Warehouse (Started in January, 2011):	S-13, Sonar industrial Estate, Krishnai Aqua Lane, Nanded Phata, Pune, Maharashtra, India
Branch Office :	Location At · Mumbai · Kolkata · New Delhi · Bangalore · Pune · Coimbatore · Vizag · Ahmedabad

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Shrikant Kirtilal Shah

Designation :

Director

Address :

4, Tejpal Road, Dhunho, USE, Gamdevi, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

30.12.1946

Date of Appointment :

21.06.1999

DIN No.:

00084054

Other Directorships :

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	U65990MH1990PTC059155	KIRTILAL TRADING COMPANY PRIVATE LIMITED	Director	26/11/1990	26/11/1990	-	Active	NO
2	U32109PN1999PTC017928	RAJDEEP AUTOMATION PRIVATE LIMITED	Director	21/06/1999	21/06/1999	-	Active	NO
3	U25200DD1999PTC004710	NOVEX POLY FILMS PRIVATE LIMITED	Director	16/08/1999	16/08/1999	15/09/2011	Active	NO

Name :

Mr. Shrenik Deepak Shah

Designation :

Director

Address :

5, Goverdhan Society, Maharshi Nagar, Pune – 411037, Maharashtra, India

Date of Birth/Age :

14.03.1975

Date of Appointment :

21.06.1999

DIN No.:

00084136

Other Directorships :

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	U32109PN1999PTC017928	RAJDEEP AUTOMATION PRIVATE LIMITED	Director	21/06/1999	21/06/1999	-	Active	NO
2	U51501PN1996PTC100116	RAJDEEP DISTRIBUTORS PRIVATE LIMITED	Director	20/10/2002	20/10/2002	-	Active	NO
3	U31900PN2009PTC133606	CONTRINEX AUTOMATION PRIVATE LIMITED	Director	05/03/2009	05/03/2009	03/02/2010	Active	NO

Name :

Mr. Sandeep Shrikant Shah

Designation :

Director

Address :

4, Tejpal Road, Dhunho, USE, Gamdevi, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

11.05.1972

Date of Appointment :

21.06.1999

DIN No.:

00084184

Other Directorships :

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	U32109PN1999PTC017928	RAJDEEP AUTOMATION PRIVATE LIMITED	Director	21/06/1999	21/06/1999	-	Active	NO
2	U51501PN1996PTC100116	RAJDEEP DISTRIBUTORS PRIVATE LIMITED	Director	20/10/2002	20/10/2002	-	Active	NO
3	U31900PN2009PTC133606	CONTRINEX AUTOMATION PRIVATE LIMITED	Director	05/03/2009	05/03/2009	03/02/2010	Active	NO

Name :

Mr. Bharat Kirtilal Shah

Designation :

Director

Address :

9/10, Kamal Prabha Apartments, Pune – 411037, Maharashtra, India

Date of Birth/Age :

07.12.1953

Date of Appointment :

20.10.2002

DIN No.:

00084217

Other Directorships :

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	Company/ LLP Status	Defaulting status
1	U51501PN1996PTC100116	RAJDEEP DISTRIBUTORS PRIVATE LIMITED	Director	01/04/1997	01/04/1997	Active	NO
2	U32109PN1999PTC017928	RAJDEEP AUTOMATION PRIVATE LIMITED	Director	21/06/1999	21/06/1999	Active	NO

KEY EXECUTIVES

Name :	Mr. Tukaram
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Shrikant K. Shah	107294
Sandeep Shah Jointly with Shrikant Shah	50274
Sandeep Shah Jointly with Smita Shah	7286
Sandeep Shah Jointly with Rima Shah	116065
Sandeep Shah	120
Smita S. Shah Jointly with Shrikant Shah	43894
Rima S. Shah Jointly with Sandeep Shah	23451
Shrikant Shah (HUF)	41055
Abha S. Shah Jointly with Sandeep Shah	100
Rhea S. Shah Jointly with Sandeep Shah	1000
Aadit Shah Jointly with Sandeep Shah	1000
Shrenik Shah Jointly with Deepak Shah	23851
Shrenik Shah Jointly with Sandhya Shah	15436
Shrenik Shah Jointly with Bharat Shah	32100
Shrenik Shah Jointly with Shardaben Shah	21479
Shrenik Shah Jointly with Sheetal Shah	209479
Shrenik Shah	120
Sheetal Shah Jointly with Shrenik Shah	24052
Oneil Shah	1000
Shrenik Shah (HUF)	21535
Bharat Shah Jointly with Nilima Shah	15028
Bharat Shah Jointly with Shrenik Shah	24000
Nilima Shah Jointly with Bharat Shah	10
Ira Shah Jointly with Shrenik Shah	1000
Deepak Shah Jointly with Sandhya Shah	10
Anand Shah Jointly with Deepak Shah	10
Sandhya Shah Jointly with Deepak Shah	10
Gautam Shah Jointly with Deepak Shah	10
Shweta Shah Jointly with Anand Shah	10
Total	780679

AS ON 30.09.2010

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

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Electronic and Electrical Machinery Parts like Sensor, Encoder and Counter
Products :	· Counters · Conduits · Hour Meters · Drag Chains · Geared Motors · Couplings · Encoders · Sensors · Transducers · PLC + HMI · Touch Screens · Safety Switches · Ultrasonic Switches · Proximity Switches · Position Indicators · Process Controllers
Exports :
Products :	Finished Goods
Countries :	Sri Lanka
Imports :
Products :	Raw Materials
Countries :	· Germany · Israel
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2009)

PARTICULARS	ACTUAL PRODUCTION
Motorized Potentiometer	272
Limit Switch & Manual Switch	300
Timer	003
Encoder	017
Infra Red Sensing System	726
Power Pack	643
Electronic Opto Amplifier	027
Digitable Presetable Counter	002
Control Panel	008

GENERAL INFORMATION

Suppliers :

· Kuebler Automation India Private Limited

· Bharat Trading Corporation

· Larsen and Toubro Limited

· Rajdeep Distributors Private Limited

· Shogini Technoarts Private Limited

· Besco Limited

· Standard Sales Corporation

· Bhushan Power and Steel Limited

· Colour Proof (India) Limited

· Elmex Controls Private Limited

· Honeywell Automation (India) Limited

· Indiana Gratings Private Limited

· Krrish Automation

· Himson Trading

Customers :

Wholesalers and Retailers

No. of Employees :

70 [Approximately]

Bankers :

· Citi Bank, Pune, India

· Standard Chartered Bank

· Bank of India

· Indian Bank

· HDFC Bank

· Janata Sahakari Bank

Facilities :

Unsecured Loans	31.03.2010 [Rs. in Millions]	31.03.2009 [Rs. in Millions]
Shareholders and Directors	43.094	23.990
Total	43.094	23.990

Banking Relations :	--
Auditors :
Name :	Joshi and Pol Chartered Accountants
Address :	Malhari, A2/22, Rambaug Colony, Navi Peth, Pune – 411030, Maharashtra, India
Pan No.:	AAAFA9699J
Associates/Subsidiaries :	· Rajdeep Industrial Products Private Limited · Rajdeep Distributors Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
800000	Equity Shares	Rs.10/- Each	Rs.8.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
780679	Equity Shares	Rs.10/- Each	Rs.7.807 millions

NOTE:

Of the above equity shares total 780279 equity shares allotted as fully paid in pursuant to scheme of Amalgamation sanctioned by Bombay High Court without payment being received in cash.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		7.807	7.807	7.807
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		77.892	64.515	53.860
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		85.699	72.322	61.667
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		43.094	23.990	18.394
TOTAL BORROWING		43.094	23.990	18.394
DEFERRED TAX LIABILITIES		1.593	1.021	1.238
TOTAL		130.386	97.333	81.299
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		49.542	13.783	13.353
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		28.943	36.105	27.741
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.393	18.345	14.569
	Sundry Debtors	36.942	28.383	33.432
	Cash & Bank Balances	5.961	4.951	1.707
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.570	18.332	11.118
Total Current Assets		90.866	70.011	60.826
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	16.240	6.460	9.924
	Other Current Liabilities	2.809	1.941	1.794
	Provisions	19.940	14.200	8.950
Total Current Liabilities		38.989	22.601	20.668
Net Current Assets		51.877	47.410	40.158
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
Preliminary Expenses		0.024	0.035	0.047
TOTAL		130.386	97.333	81.299

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	TOTAL INCOME		155.482	135.197	151.628
Less	EXPENSES
		TOTAL	47.157	118.112	124.154
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		108.325	17.085	27.474
Less/ Add	DEPRECIATION/ AMORTISATION		6.659	1.139	0.971
	PROFIT BEFORE TAX		101.666	15.946	26.503
Less	TAX		NA	5.290	9.334
	PROFIT AFTER TAX		NA	10.656	17.169
	EXCESS PROVISION OR TAX WRITTEN BACK
	- For AY 06-07		NA	0.000	0.020
	- For AY 07-08		NA	0.000	0.063
	PROFIT TRANSFERRED TO BALANCE SHEET		NA	10.656	17.252
	Earnings Per Share (Rs.)		NA	13.65	21.99

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	7.88	11.32
Return on Total Assets (PBT/Total Assets)	(%)	72.41	19.03	35.73
Return on Investment (ROI) (PBT/Networth)		1.19	0.22	0.43
Debt Equity Ratio (Total Liability/Networth)		0.96	0.64	0.63
Current Ratio (Current Asset/Current Liability)		2.33	3.10	2.94

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
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	No
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	No

FIXED ASSETS:

· Free Hold Land

· Shops at Ahmedabad

· Premises at Dhayari, Pune

· Plant and Machinery

· Motor Car

· Vehicles

· Bicycle

· Computer

· Telephone Equipment

· Furniture and Fixtures

· 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.54.85
UK Pound	1	Rs.88.16
Euro	1	Rs.71.54

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--AFFILIATION	YES/NO	YES
--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.