MIRA INFORM REPORT

Report Date :

01.07.2013

IDENTIFICATION DETAILS

Name :	KAMBERT MACHINERY COMPANY PRIVATE LIMITED
Registered Office :	79/4, Phase - I, GIDC Estate, Vatva, Ahmedabad – 382445, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	23.07.2002
Com. Reg. No.:	04-041001
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U29297GJ2002PTC041001
TAN No.: [Tax Deduction & Collection Account No.]	AHMK01606D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of Pharmaceutical equipments as tablet press, rotary tablet etc.
No. of Employees :	Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 210000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There a slight dip in the profitability during 2012. However, networth of the company seems to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

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 :	79/4, Phase - I, GIDC Estate, Vatva, Ahmedabad – 382445, Gujarat, India
Tel. No.:	91-79-25834041/ 25834042/ 25834874
Fax No.:	91-79-25894874/ 25894875
E-Mail :	kambertad1@sancharnet.in
Website :	http://www.kambert.com

DIRECTORS

As on: 29.09.2012

Name :

Mr. Jayant Veljibhai Khambhatta

Designation :

Director

Address :

44, Jawahar Nagar, Near Anjli Cinema, Ellisbridge, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

07.03.1930

Date of Appointment :

23.07.2002

DIN No.:

00032676

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	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Managing director	01/07/1974	01/07/1974	-	Active	NO
2	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21/06/1995	21/06/1995	-	Active	NO
3	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Director	22/06/1999	22/06/1999	-	Active	NO
4	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
5	U29297GJ2002PTC041001	KAMBERT MACHINERY COMPANY PRIVATE LIMITED	Director	23/07/2002	23/07/2002	-	Active	NO

Name :

Mr. Vinitbhai Jayantbhai Khambhatta

Designation :

Director

Address :

44, Jawahar Nagar, Near Anjli Cinema, Ellisbridge, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

05.08.1961

Date of Appointment :

23.07.2002

DIN No.:

01137328

Name :

Mr. Ketanbhai Jayantbhai Khambhatta

Designation :

Director

Address :

44, Jawahar Nagar, Near Anjli Cinema, Ellisbridge, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

20.01.1970

Date of Appointment :

23.07.2002

DIN No.:

00861301

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	U51909GJ1995PTC026417	KEVIN PROCESS TECHNOLOGIES PRIVATE LIMITED	Director	21/06/1995	21/06/1995	-	Active	NO
2	U29120GJ1999PTC036177	VAC-U-MAX ASIA PRIVATE LIMITED	Managing director	22/06/1999	22/06/1999	-	Active	NO
3	U72200GJ2000PTC038100	KEVIN TECHNOLOGIES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
4	U29297GJ2002PTC041001	KAMBERT MACHINERY COMPANY PRIVATE LIMITED	Director	23/07/2002	23/07/2002	-	Active	NO
5	U68186GJ1973PTC002373	CADMACH MACHINERY COMPANY PRIVATE LIMITED	Whole-time director	01/11/2005	01/11/2005	-	Active	NO
6	U29299GJ2008PTC053165	MATCON IBC SOLUTIONS INDIA PRIVATE LIMITED	Director	05/03/2008	05/03/2008	-	Strike off	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Vinitbhai Jayantbhai Khambhatta	56000
Jayantbhai V. Khambhatta – Karta of HUF	20000
Shardaben Jayantbhai Khambhatta	40000
Kalpnaben Jayantbhai Khambhatta	30000
Ketanbhai Jayantbhai Khambhatta	46000
Nayanbhai Jayantbhai Khambhatta	4000
Sangitaben Vinitbhai Khambhatta	4000
Total	200000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers and Exporters of Pharmaceutical equipments as tablet press, rotary tablet etc.

PRODUCTION STATUS (As on: 31.03.2012)

Licensed Capacity – No licence is required

Installed Capacity – Items are custom built so not ascertainable

Production – As certified by Director

Particular	Unit	Actual Production
Machinery	Nos.	136
Machinery Spare parts	Nos.	92453

GENERAL INFORMATION

No. of Employees :

Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

Bankers :

• Vijya Bank
• HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
From Vijya Bank (Secured Against Fixed Deposit)	2.456	3.019
From HDFC Bank (Secured Against HP of Vehicles)	0.000	0.063
SHORT TERM BORROWINGS
From Vijya Bank	1.194	0.000
Total	3.650	3.082

Notes:

Over draft from Vijya Bank is against Fixe Deposit. It carries interest @ 9% to 11.5% It is 2% Above Rate of FD Interest. Terms of repayment is not prescribed. It is renewable as maturity of Fixed deposit

Banking Relations :	--
Auditors :
Name :	Divyang N. Patel and company Chartered Accountants
Address :	403, 4th Floor, Rudramal Complex, Choice Street, Off. C.G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-26431163
Mobile No.:	91-9824060585
E-Mail :	divyangpatel@vsnl.net
PAN No.:	ABEPP8945N
Enterprises significantly influenced by Director and / or their relatives :	Cadmach Machinery Company Private Limited Kevin Process Technologies Private Limited Kevin Technologies Private Limited Vac-U-Max Asia Private Limited CMC Machinery N. K. Engineering Company

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.000	2.000
(b) Reserves & Surplus	50.926	49.282
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	52.926	51.282
(3) Non-Current Liabilities
(a) long-term borrowings	5.446	5.780
(b) Deferred tax liabilities (Net)	1.307	1.648
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	6.753	7.428
(4) Current Liabilities
(a) Short term borrowings	1.194	0.000
(b) Trade payables	27.908	25.015
(c) Other current liabilities	8.850	4.970
(d) Short-term provisions	3.466	6.192
Total Current Liabilities (4)	41.418	36.177
TOTAL	101.097	94.887
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	35.270	35.415
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	4.456	6.060
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	39.726	41.475
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	9.729	8.519
(c) Trade receivables	31.592	12.910
(d) Cash and cash equivalents	16.723	23.913
(e) Short-term loans and advances	2.941	7.528
(f) Other current assets	0.386	0.542
Total Current Assets	61.371	53.412
TOTAL	101.097	94.887

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.000
2] Share Application Money		0.000
3] Reserves & Surplus		45.616
4] (Accumulated Losses)		0.000
NETWORTH		47.616
LOAN FUNDS
1] Secured Loans		0.421
2] Unsecured Loans		2.478
TOTAL BORROWING		2.899
DEFERRED TAX LIABILITIES		1.055
TOTAL		51.570
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		30.302
Capital work-in-progress		0.109
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.685
	Sundry Debtors	33.953
	Cash & Bank Balances	13.378
	Other Current Assets	0.000
	Loans & Advances	7.579
Total Current Assets		61.595
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.152
	Other Current Liabilities	5.533
	Provisions	5.751
Total Current Liabilities		40.436
Net Current Assets		21.159
MISCELLANEOUS EXPENSES		0.000
TOTAL		51.570

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	88.813	84.006	71.815
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	78.044	72.545	54.277
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.769	11.461	17.538
Less/ Add	DEPRECIATION/ AMORTISATION		5.868	4.429	3.989
	PROFIT BEFORE TAX		4.901	7.032	13.549
Less	TAX		1.514	2.204	4.700
	PROFIT AFTER TAX		3.387	4.828	8.849
	TOTAL IMPORTS		0.379	8.130	NA
	Earnings Per Share (Rs.)		16.94	24.14	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.81	5.75	12.32
Return on Total Assets (PBT/Total Assets}	(%)	4.85	7.41	14.74
Return on Investment (ROI) (PBT/Networth)		0.09	0.14	0.28
Debt Equity Ratio (Total Debt/Networth)		0.13	0.11	0.06
Current Ratio (Current Asset/Current Liability)		1.48	1.48	1.52

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	Yes
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	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]	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

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Loans and Advances From Related Parties
From Directors	1.504	1.357
From Others (Shareholders)	1.486	1.341
Total	2.990	2.698

Notes:

Unsecured Loans carries interest @ 12% P.A. Terms for Unsecured Loans is repayable on Demand

CONTINGENT LIABILITIES:

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
Not provided for in the books of accounts :
In respect of guarantees given by a Bank and counter guarantees given by the company.	1.190	3.228

FIXED ASSETS

Tangible Assets

• Land Free Hold
• Land Lease Hold
• Factory Building
• Office Building
• Air Conditioner
• Computers
• Furniture and Fixtures
• Electrical Installation
• Office Equipments
• Dead Stock
• Plant and Machinery
• Vehicle
  

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.59.70
UK Pound	1	Rs.91.14
Euro	1	Rs.77.98

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.