MIRA INFORM REPORT

Report Date :

22.07.2013

IDENTIFICATION DETAILS

Name :	AMA PRIVATE LIMITED
Formerly Known As :	PHOTO, CINE, SOUND AGENCIES LIMITED
Registered Office :	Canada Building, 244, Dr. Dadabhai Naoroji Road, Fort, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.10.1938
Com. Reg. No.:	11-002850
Paid-up Capital :	Rs. 2.217 Millions
CIN No.: [Company Identification No.]	U51109MH1938PTC002850
TAN No.: [Tax Deduction & Collection Account No.]	MUMA18462D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Aviation Lighting Equipment.
No. of Employees :	100 (Approximately)

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 250000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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 (GENERAL DETAILS)

Name :	Mrs. Damle
Designation :	Accounts Assistant
Contact No.:	91-22-22075271
Date :	17.07.2013

LOCATIONS

Registered Office / Head Office :	Canada Building, 244, Dr. Dadabhai Naoroji Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22075271 / 2 / 66396571 / 2
Fax No.:	91-22-22078910
E-Mail :	ama@vsnl.com vijay@amaindia.com djs@amaindia.com gaurav@amaindia.com
Website :	http://www.amaindia.com
Location :	Rented
Factory :	125/126, Champaklal Industrial Estate, Sion Koliwada Road, Sion (East), Mumbai – 400022, Maharashtra, India
Tel. No.:	91-22-24091398
Location :	Rented
Branches :	E78 Anand Niketan, New Delhi - 110021, India

DIRECTORS

AS ON 28.09.2012

Name :

Mrs. Minal Girish Patel

Designation :

Chairman cum Managing Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.10.1939

Date of Appointment :

01.01.1972

DIN No.:

00273313

Name :

Mr. Rahul Girish Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

12.05.1965

Date of Appointment :

29.09.1983

DIN No.:

00273160

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	U51109MH1938PTC002850	AMA PRIVATE LIMITED	Director	29/09/1983	29/09/1983	-	Active	NO
2	U31903MH2000PTC124464	AMA AIR AND MARINE PRIVATE LIMITED	Director	24/02/2000	24/02/2000	-	Active	NO

Name :

Mr. Sameer Girish Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

04.02.1967

Date of Appointment :

01.10.1989

DIN No.:

00272992

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	U51109MH1938PTC002850	AMA PRIVATE LIMITED	Director	01/10/1989	01/10/1989	-	Active	NO
2	U31903MH2000PTC124464	AMA AIR AND MARINE PRIVATE LIMITED	Director	24/02/2000	24/02/2000	-	Active	NO

Name :

Ms. Hema Shroff Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

14.09.1964

Date of Appointment :

06.01.1992

DIN No.:

00349439

Name :

Ms. Sangeeta Sameer Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

25.01.1966

Date of Appointment :

14.12.1993

DIN No.:

00273458

KEY EXECUTIVES

Name :	Mrs. Damle
Designation :	Accounts Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
Rahul G Patel	759
Sameer G Patel	758
Minal G Patel	700
TOTAL	2217

AS ON 28.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Aviation Lighting Equipment.
Products :	Airport Lighting Equipments
Exports :
Products :	Finished Goods
Countries :	Sweden
Imports :
Products :	Raw Materials
Countries :	Sweden
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

· End Users

No. of Employees :

100 (Approximately)

Bankers :

· Indian Overseas Bank, 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400023, Maharashtra, India

Tel. No.: 91-22-22045761

· HSBC

· HDFC Bank Limited

· ICICI Bank Limited

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Short term borrowings
Loans repayable on demand from banks:
Indian Overseas Bank	8.140	3.968
TOTAL	8.140	3.968

Banking Relations :	--
Auditors :
Name :	Pradeep B. Bhatt and Company Chartered Accountants
Address :	53/54, Krishna Niwas, 4^th Floor, Near Edward Cinema, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
PAN No.:	AABPB2421P
Related Parties :	AMA Air and Marine Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2400	Equity Shares	Rs.1000/- each	Rs. 2.400 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2217	Equity Shares	Rs.1000/- each	Rs. 2.217 Millions

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	2.217	2.217
(b) Reserves & Surplus	59.452	44.838
(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)	61.669	47.055
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	101.360	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	101.360	0.000
(4) Current Liabilities
(a) Short term borrowings	20.600	16.391
(b) Trade payables	44.001	51.628
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	9.703	9.796
Total Current Liabilities (4)	74.304	77.815
TOTAL	237.333	124.870
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	18.633	17.979
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	10.523	11.975
(c) Deferred tax assets (net)	0.140	0.203
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	10.786	1.359
Total Non-Current Assets	40.082	31.516
(2) Current assets
(a) Current investments
(b) Inventories	17.667	8.284
(c) Trade receivables	42.999	41.548
(d) Cash and cash equivalents	112.612	26.569
(e) Short-term loans and advances	20.312	12.974
(f) Other current assets	3.661	3.979
Total Current Assets	197.251	93.354
TOTAL	237.333	124.870

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.217
2] Share Application Money		0.000
3] Reserves & Surplus		26.555
4] (Accumulated Losses)		0.000
NETWORTH		28.772
LOAN FUNDS
1] Secured Loans		6.201
2] Unsecured Loans		13.286
TOTAL BORROWING		19.487
DEFERRED TAX LIABILITIES		0.000
TOTAL		48.259
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		14.053
Capital work-in-progress		0.000
INVESTMENT		14.025
DEFERREX TAX ASSETS		0.192
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.311
	Sundry Debtors	35.797
	Cash & Bank Balances	18.198
	Other Current Assets	9.961
	Loans & Advances	13.817
Total Current Assets		85.084
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.274
	Other Current Liabilities	43.955
	Provisions	12.866
Total Current Liabilities		65.095
Net Current Assets		19.989
MISCELLANEOUS EXPENSES		0.000
TOTAL		48.259

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	146.318	154.054	167.605
		Other Income	56.320	14.698	30.310
		TOTAL	202.638	168.752	197.915
Less	EXPENSES
		Purchases	175.235	48.859	95.284
		Manufacturing and other expenses		90.999	81.457
		25% share of loss in AMA Engg. Company		0.002	0.003
		Increase/Decrease in inventories		(0.972)	(1.323)
		TOTAL	175.235	138.888	175.421
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		27.403	29.864	22.494
Less/ Add	DEPRECIATION/ AMORTISATION		4.026	3.181	3.030
	PROFIT / (LOSS) BEFORE TAX		23.377	26.683	19.464
Less	TAX		8.763	8.400	7.312
	PROFIT / (LOSS) AFTER TAX		14.614	18.283	12.152
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		44.795	26.512	14.360
	BALANCE CARRIED TO THE B/S		59.409	44.795	26.512
	EARNINGS IN FOREIGN CURRENCY
		Commission Earnings	41.092	8.916	22.697
	TOTAL EARNINGS		41.092	8.916	22.697
	IMPORTS
		Raw Materials	23.988	6.807	NA
		Stores & Spares	2.327	1.705	NA
	TOTAL IMPORTS		26.315	8.512	NA
	Earnings Per Share (Rs.)		6591.79	8246.79	5481.14

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	7.21	10.83	6.14
Net Profit Margin (PBT/Sales)	(%)	15.98	17.32	11.61
Return on Total Assets (PBT/Total Assets}	(%)	10.31	23.68	19.63
Return on Investment (ROI) (PBT/Networth)		0.38	0.57	0.68
Debt Equity Ratio (Total Debt /Networth)		0.33	0.35	0.68
Current Ratio (Current Asset/Current Liability)		2.65	1.20	1.31

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	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 LOANS

particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Short term borrowings
Loans repayable on demand from other parties	6.452	5.683
Loans and advances from related parties	6.008	6.740
TOTAL	12.460	12.423

OPERATIONS

The Sales during the year were Rs. 146.318 Millions resulting in net profit of Rs.14.614 Millions as shown above. The prospects for the activities of the Company remain favourable.

FIXED ASSETS

· Land

· Building

· Computer and Printer

· Electrical Fittings and Installation

· Furniture and fixtures

· Office Equipments

· Plant and Machinery

· Vehicles

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. 59.80
UK Pound	1	Rs. 91.03
Euro	1	Rs. 78.52

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	4
--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		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.