MIRA INFORM REPORT

Report Date :

03.07.2013

IDENTIFICATION DETAILS

Name :	H.P.SINGH MACHINERY PRIVATE LIMITED
Registered Office :	75, Ganesh Chandra Avenue, Kolkata- 700013, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.03.1996
Com. Reg. No.:	21-077940
Capital Investment / Paid-up Capital :	Rs.0.120 Million
CIN No.: [Company Identification No.]	U51506WB1996PTC077940
TAN No.: [Tax Deduction & Collection Account No.]	CALH02109C
PAN No.: [Permanent Account No.]	AAACH7128M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Industrial Machines and Tools, etc.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 29000
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 normal 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 – 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.

INFORMATION PARTED BY

Name :	Mr. Mohan Pal Singh
Designation :	Director
Contact No.:	91-9872232950
Date :	26.06.2013

LOCATIONS

Registered Office :	75, Ganesh Chandra Avenue, Kolkata- 700013, West Bengal, India
Tel. No.:	91-161-2541055 91- 33-22371680
Mobile No.:	91-9872232950 (Mr. Mohan Pal Singh)
Fax No.:	91-161-2534729 91- 33-22255457
E-Mail :	hpscocal@vsnl.com mohanpal@hpsmachines.com
Website :	http://hpsmachines.com
Factory :	G.T. Road, Dholewal, Near Military Camp, Ludhiana-141003, Punjab, India
Tel. No.:	91-161-2531712/ 2541055
Fax No.:	91-161-2534729

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Mohan Pal Singh
Designation :	Director
Address :	35/1, Jawaharlal Nehru Road, Kolkata-700071, West Bengal, India
Date of Birth/Age :	13.04.1973
Date of Appointment :	11.03.1996
DIN No.:	00978925
Name :	Mr. Tejinder Pal Singh
Designation :	Director
Address :	35/1, Jawaharlal Nehru Road, Kolkata-700071, West Bengal, India
Date of Birth/Age :	26.04.1976
Date of Appointment :	11.03.1996
DIN No.:	01074186
Name :	Mr. Harbhajan Kaur
Designation :	Director
Address :	35/1, Jawaharlal Nehru Road, Kolkata-700071, West Bengal, India
Date of Birth/Age :	14.08.1942
Date of Appointment :	31.03.1998
DIN No.:	00978857

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Mohan Pal Singh	2000
Tejinder Pal Singh	4000
Harbhajan Kaur	4000
Renu Singh	1000
Suchitra Singh	1000
TOTAL	12000

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Industrial Machines and Tools, etc.

Products :

Item Code No. (ITC Code)	Product Description
8459.10	Drill Machine
846599.09	Lathe Machine
8459.40	Boring Machine

Exports :

Products :

Industrial Machines and Tools, etc.

Countries :

· Middle East

· Africa

· South Asia

· Bangladesh

Imports :

Products :

Machines

Countries :

· Europe

· USA

· China

· Taiwan

Terms :

Selling :

L/C, Cash, Credit

Purchasing :

L/C, Cash, Credit

GENERAL INFORMATION

Customers :	· End Users
No. of Employees :	25 (Approximately)
Bankers :	· HDFC Bank Limited, 31, Ganesh Chandra Avenue, Kolkata-700013, West Bengal, India · Canara Bank, Overseas Branch, Kalsi Nagar, G T Road, Ludhiana-141003, Punjab, India

Banking Relations :	--
Auditors :
Name :	Das Maity and Associates Chartered Accountants
Address :	44, Chakraberia Road (South), Kolkata- 700025, India
Tel. No.:	91- 033-30522197/ 24867556/24746335
Mobile No.:	91- :9830024339
E-Mail :	rka@cal.vsnl.net.in
PAN No.:	AACFD3347B
Sister Concern :	H P Singh and Company

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12000	Equity Shares	Rs.10/- each	Rs. 0.120 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.120	0.120
(b) Reserves & Surplus	7.291	5.916
(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)	7.411	6.036
(3) Non-Current Liabilities
(a) long-term borrowings	0.566	2.288
(b) Deferred tax liabilities (Net)	0.078	0.080
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.644	2.368
(4) Current Liabilities
(a) Short term borrowings	0.050	0.000
(b) Trade payables	11.076	7.638
(c) Other current liabilities	8.910	11.522
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	20.036	19.160
TOTAL	28.091	27.564
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.058	2.225
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(b) Non-current Investments	0.045	0.045
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2.103	2.270
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	6.408	5.050
(c) Trade receivables	6.265	5.276
(d) Cash and cash equivalents	2.029	2.961
(e) Short-term loans and advances	11.286	12.007
(f) Other current assets	0.000	0.000
Total Current Assets	25.988	25.294
TOTAL	28.091	27.564

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.120
2] Share Application Money		0.000
3] Reserves & Surplus		4.642
4] (Accumulated Losses)		0.000
NETWORTH		4.762
LOAN FUNDS
1] Secured Loans		0.368
2] Unsecured Loans		1.533
TOTAL BORROWING		1.901
DEFERRED TAX LIABILITIES		0.071
TOTAL		6.734
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.306
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.632
	Sundry Debtors	3.931
	Cash & Bank Balances	1.541
	Other Current Assets	1.278
	Loans & Advances	9.322
Total Current Assets		20.704
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.836
	Other Current Liabilities	10.440
	Provisions	0.000
Total Current Liabilities		16.276
Net Current Assets		4.428
MISCELLANEOUS EXPENSES		0.000
TOTAL		6.734

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	68.078	57.202	61.132
		Other Income	0.703	0.105
		TOTAL (A)	68.781	57.307	61.132
Less	EXPENSES
		Office Expenses	66.359	54.970	59.563
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	66.359	54.970	59.563
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.422	2.337	[Including Financial
					Expenses
Less	FINANCIAL EXPENSES (D)		0.102	0.219	And
					Depreciation ]
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.320	2.118
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.175	0.169
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		2.145	1.949	1.569
Less	TAX (H)		0.771	0.675	0.599
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		1.374	1.274	0.970
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5.916	4.642	NA
	BALANCE CARRIED TO THE B/S		7.290	5.916	NA
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	5.647	1.208	3.893
		Other Earnings	0.000	0.113	0.000
	TOTAL EARNINGS		5.647	1.321	3.893
	IMPORTS VALUE		5.126	3.249	3.615
	Earnings / (Loss) Per Share (Rs.)		114.54	10.62	8.09

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.00	2.22	1.59
Net Profit Margin (PBT/Sales)	(%)	3.15	3.41	NA
Return on Total Assets (PBT/Total Assets}	(%)	7.65	7.08	6.82
Return on Investment (ROI) (PBT/Networth)		0.29	0.32	0.33
Debt Equity Ratio (Total Debt /Networth)		0.08	0.38	0.40
Current Ratio (Current Asset/Current Liability)		1.30	1.32	1.27

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	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	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	No
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

WORKING OF THE COMPANY

During the year, the company was engaged in trading of Machineries and achieved a turnover of Rs. 68.078 Millions (Previous year Rs. 57.202 Millions). The Directors expect better business opportunities in current financial year.

FIXED ASSETS

· Furniture

· Computer

· Mobile Phone

· Air Conditioner

· Scooter

· Car

· Cycle

· Xerox

· Land

· Pattern

· Fans

· Generator

· Air Cooler

· Fax

· Motor Car – Dzire

· Refrigerator

· Printer/ Computer

· Camera

· CCTV

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. 59.41
UK Pound	1	Rs. 90.38
Euro	1	Rs. 77.60

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	DPT

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	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.