MIRA INFORM REPORT

Report Date :

27.07.2013

IDENTIFICATION DETAILS

Name :	SUNSON ENERGY DEVICES PRIVATE LIMITED
Registered Office :	550, Mandakini Enclave, Alaknanda, New Delhi-110019
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.10.1997
Com. Reg. No.:	55-090382
Capital Investment / Paid-up Capital :	Rs.0.687 Million
CIN No.: [Company Identification No.]	U29307DL1997PTC090382
TAN No.: [Tax Deduction & Collection Account No.]	DELS29279F
PAN No.: [Permanent Account No.]	AABCS8078E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Solar Water Heaters, Solar Air Heaters, Solar Room Heaters, Industrial Systems, Chemical Heating Systems and Waste Heat Recovery Systems.
No. of Employees :	50 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 11000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a small company having a moderate track record. Its scale of activities is limited. The latest financials (2012) are not available. As per the of 2011, the company was found normal for small to medium business dealings. However trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings 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 – 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. Kartik Shukla
Designation :	Accountant
Contact No.:	91-11-45160387
Date :	17.07.2013

LOCATIONS

Registered Office :	550, Mandakini Enclave, Alaknanda, New Delhi-110019, India
Tel. No.:	91-11-45160387/30829045
Mobile No.:	91-9310812216 [Mr. Harsharn Singh Chadha]
Fax No.:	91-11-26274811
E-Mail :	sunsonenergy@gmail.com
Website :	http://www.sunsonenergy.com
Area :	1050 sq. ft.
Location :	Owned
Factory :	E-12, Sector 3, Noida, Uttar Pradesh, India
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Satvider Singh Chadha
Designation :	Director
Address :	550, Mandakini Enclave, Alaknanda, New Delhi-1100196, India
Date of Birth/Age :	12.06.1965
Date of Appointment :	01.09.2001
Din No.:	01612126
Name :	Mr. Harsharn Singh Chadha
Designation :	Director
Address :	550, Mandakini Enclave, Alaknanda, New Delhi-1100196, India
Date of Birth/Age :	17.06.1964
Date of Appointment :	23.10.1997
Din No.:	01613187

KEY EXECUTIVES

Name :	Mr. Kartik Shukla
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Satvider Singh Chadha	2530
Harsharn Singh Chadha	4340
TOTAL	6870

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer of Solar Water Heaters, Solar Air Heaters, Solar Room Heaters, Industrial Systems, Chemical Heating Systems and Waste Heat Recovery Systems.
Imports :
Products :	Raw Materials
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

50 [Approximately]

Bankers :

· Kotak Mahindra Bank, New Delhi, India

· Punjab National Bank

Facilities :

Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Short Term Borrowings
From Banks	0.198	0.000
From Others	0.025	0.000
TOTAL	0.223	0.000

Banking Relations :	--
Auditors :
Name :	Prakhar Banthiya Chartered Accountants
Address :	WZ-139B, II Floor, Naraina Ring Road, New Delhi-110028, India
Tel No.:	91-11-25775308/25771453
Fax No.:	91-11-25771453
Email:	info@scm-cpa.com
PAN No:	AAQFS0096L

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6870	Equity Shares	Rs.100/- each	Rs.0.687 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2011	31.03.2010
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.687	0.687
(b) Reserves & Surplus	2.231	1.707
(c) Money received against share warrants	0.025	0.025
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2.943	2.419
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.022	0.022
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.022	0.022
(4) Current Liabilities
(a) Short term borrowings	0.223	0.000
(b) Trade payables	2.455	0.050
(c) Other current liabilities	2.694	3.640
(d) Short-term provisions	1.173	4.580
Total Current Liabilities (4)	6.545	8.270
TOTAL	9.510	10.711
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.676	0.682
(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	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.676	0.682
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.683	0.133
(c) Trade receivables	5.857	7.205
(d) Cash and cash equivalents	0.783	0.992
(e) Short-term loans and advances	1.511	1.699
(f) Other current assets	0.000	0.000
Total Current Assets	8.834	10.029
TOTAL	9.510	10.711

SOURCES OF FUNDS		31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.687
2] Share Application Money		0.025
3] Reserves & Surplus		1.203
4] (Accumulated Losses)		0.000
NETWORTH		1.915
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.024
TOTAL		1.939
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.688
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.322
	Sundry Debtors	3.344
	Cash & Bank Balances	1.325
	Other Current Assets	0.000
	Loans & Advances	0.829
Total Current Assets		5.820
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.064
	Other Current Liabilities	1.855
	Provisions	0.650
Total Current Liabilities		4.569
Net Current Assets		1.251
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.939

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		20.353	13.560
		Other Income		0.035	0.032
		TOTAL	26.607	20.388	13.592
Less	EXPENSES
		Cost of Material		11.312	9.326
		Manufacturing and Other Expenses	25.794	6.573	2.346
		Administrative and Selling Expenses		1.691	1.337
		Provision For Doubtful Debts		0.045	0.000
		TOTAL	25.794 [Including Depreciation]	19.621	13.009
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			0.767	0.583
Less/ Add	DEPRECIATION/ AMORTISATION			0.006	0.006
	PROFIT / (LOSS) BEFORE TAX		0.813	0.761	0.577
Less	TAX		0.322	0.257	0.191
	PROFIT / (LOSS) AFTER TAX		0.491	0.504	0.386
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	0.050	0.039
	BALANCE CARRIED TO THE B/S		NA	0.454	0.347
	Earnings / (Loss) Per Share (Rs.)		71.47	73.31	40.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.85	2.47	2.84
Net Profit Margin (PBT/Sales)	(%)	NA	3.74	4.26
Return on Total Assets (PBT/Total Assets}	(%)	9.20	7.06	8.87
Return on Investment (ROI) (PBT/Networth)		0.27	0.31	0.30
Debt Equity Ratio (Total Debt/Networth)		0.07	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.35	1.21	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	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	No
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	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

NOTE: NO CHARGES EXIST FOR COMPANY.

FIXED ASSETS:

· Land

· Generator Set

· Plant and Machinery

· Computers

· Furniture, Fixtures and Fittings

· Office Buildings

· Vehicles

· Computers

· Cycle

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 records 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.58.91
UK Pound	1	Rs.90.67
Euro	1	Rs.78.22

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.