MIRA INFORM REPORT

Report Date :

30.07.2013

IDENTIFICATION DETAILS

Name :	POINTER INSTRUMENTS PRIVATE LIMITED
Registered Office :	Plot No.210, Phase - 1, G.I.D.C. Industrial Estate, Taluka Kalol, District Chhatral – 382729, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	12.01.2007
Com. Reg. No.:	04-049765
Capital Investment / Paid-up Capital :	Rs.0.700 Million
CIN No.: [Company Identification No.]	U29130GJ2007PTC049765
TAN No.: [Tax Deduction & Collection Account No.]	AHMP06078C
PAN No.: [Permanent Account No.]	AAECP1302K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pressure Temperature Gauges.
No. of Employees :	35 (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 5600
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 (GENERAL DETAILS)

Name :	Mr. Chandresh Patel
Designation :	Director
Contact No.:	91-9327916343
Date :	29.07.2013

LOCATIONS

Registered Office/ Factory :	Plot No.210, Phase - 1, G.I.D.C. Industrial Estate, Taluka Kalol, District Chhatral – 382 729, Gujarat, India
Tel. No.:	91-2764-234357
Mobile No.:	91-9327916343 (Mr. Chandresh)
Fax No.:	91-2764-234177
E-Mail :	pointer210@yahoo.co.in kssheth@yahoo.com gaudana@gmail.com
Location :	Owned

DIRECTORS

As on 29.09.2012

Name :

Mr. Chandravadan Narayanbhai Patel

Designation :

Director

Address :

7, Bhagwat Bunglows, Gota, Taluka Daskroi, Ahmedabad – 380060, Gujarat, India

Date of Birth/Age :

30.10.1971

Date of Appointment :

12.01.2007

DIN No.:

01674817

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	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	12/01/2007	12/01/2007	-	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12/09/2007	12/09/2007	-	Active	NO

Name :

Mrs. Naynaben Chandravadan Patel

Designation :

Director

Address :

7, Bhagwat Bunglows, Gota, Taluka Daskroi, Ahmedabad – 380060, Gujarat, India

Date of Birth/Age :

12.08.1972

Date of Appointment :

12.01.2007

DIN No.:

03274543

Name :

Mrs. Anitaben Bharatbhai Patel

Designation :

Director

Address :

57, Ganeshdham Twin Bunglows, R.C. Technical Road, Ghatlodia, Ahmedabad – 380061, Gujarat, India

Date of Birth/Age :

22.11.1975

Date of Appointment :

12.01.2007

DIN No.:

03274507

Name :

Mr. Bharatkumar Shankarlal Patel

Designation :

Director

Address :

57, Ganeshdham Twin Bunglows, R.C. Technical Road, Ghatlodia, Ahmedabad – 380061, Gujarat, India

Date of Birth/Age :

01.06.1968

Date of Appointment :

12.01.2007

DIN No.:

01674579

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	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	12/01/2007	12/01/2007	-	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12/09/2007	12/09/2007	-	Active	NO

Name :

Mr. Ashwin Mafatlal Patel

Designation :

Director

Address :

25/B, Arvind Society, New Sama Village, Vadodara – 380019, Gujarat, India

Date of Birth/Age :

19.06.1963

Date of Appointment :

12.01.2007

DIN No.:

01738482

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	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	12/01/2007	12/01/2007	-	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12/09/2007	12/09/2007	-	Active	NO

Name :

Mr. Prakashkumar Shankerlal Patel

Designation :

Director

Address :

19, Pragati Society, Gungadi Road, Patan – 384265, Gujarat, India

Date of Birth/Age :

28.06.1974

Date of Appointment :

01.04.2007

DIN No.:

01674851

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	U29130GJ2007PTC049765	POINTER INSTRUMENTS PRIVATE LIMITED	Director	01/04/2007	01/04/2007	-	Active	NO
2	U29220GJ2007PTC051723	METALTECH CNC PRIVATE LIMITED	Director	12/09/2007	12/09/2007	-	Active	NO

Name :

Mrs. Ramilaben Ashvinkumar Patel

Designation :

Director

Address :

25/B, Arvind Society, New Sama Village, Vadodara – 380019, Gujarat, India

Date of Birth/Age :

01.06.1963

Date of Appointment :

12.01.2007

DIN No.:

03274537

Name :

Mr. Chandresh Patel

Designation :

Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Ashwin Mafatlal Patel	3000
Anitaben Bharatbhai Patel	3000
Bharat Shankarlal Pate	23000
Chandravadan Narayanbhai Patel	23000
Naynaben Chandravadan Patel	13000
Prakash Shankarlal Patel	2000
Ramilaben Ashvinkumar Patel	3000
Total	70000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Pressure Temperature Gauges.
Products :	v Pressure Gauge and Accessories · Weather Proof Pressure Gauges · Diaphragm Seated Pressure Gauges · Schaffer and Low Pressure Diaphragm Pressure Gauges · Precision Test Pressure Gauges · Electric Contact Gauges · Utility Pressure Gauges · Single Diaphragm Differential Pressure Gauges v Pressure Gauge Accessories · Snubber · Gauge Saver · Gauge Syphone · Gauge Clock and Needle Valve · Manifold · Comparison Tester v Temperature Gauges · Mercury/Gas Filled Temperature Gauges · Metal Temperature Gauges v Electro Magnetic Flowmeters v Digital Pressure Gauges v Pressure Transmitters
Exports :
Products :	Pressure Temperature Gauges
Countries :	· Africa · Gulf Countrie · South America · Tanzania · Kenya
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Aakur Thermocole Packaging

· Accurate Press Tools

· Dev Industries

· Ganesh Steel Corporation

· Gayatri Electrical Works

· Guddi Electrical Works

· Hindustan Marketing

· Hi-Tech Industries

· Icon packaging

· Imperial Enterprises

· Jay Packers

· Lucky Dial Printers

· Boyal Industries

· Sagar Rubber Products

· Shah Brothers

Customers :

End Users

· ABB Limited

· DCW Limited

· L J Enterprise

· Navkar Corporation

· Nilesh Industrial Instruments

· Nishi Textile Traders

· Power Build Limited

· Navkar Corporation

· Umiya Instruments

· Yukta Enterprise

· Power Build Limited

· Nishi Textile Traders

· K K Trading Company

· Rediant Engineers

· Shree Tirupati and Associates

No. of Employees :

35 (Approximately)

Bankers :

· Bank of Baroda, Chhatral Branch, At and Post Chhatral, Chhatral – 382729, Gujarat, India

· Axis Bank Limited

· ICICI Bank Limited

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Bank of Baroda*	0.872	0.781
ICICI Bank Limited	0.077	0.000
Total	0.949	0.781

*Secured against stocks and book debts and extension of equitable mortgage of Factory and building.

Banking Relations :	--
Auditors :
Name :	Jayesh P. Panchal Chartered Accountants
Address :	201, Anushri, Near: B.O.B. Ushmanpura Branch, Ashram Road,Ushmanpura, Ahmedabad – 380013, Gujarat, India
PAN No. :	AEZPP7010P
Associates/Subsidiaries :	Metal Tax CNC Private Limited Address: Plot No.116, Phase 1, GIDC, Taluka Kalol, District Chhatral – 382729, Gujarat, India Line of Business: Manufacturing Sheet Metal Cover.

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs.10/- each	Rs. 0.700 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs.10/- each	Rs. 0.700 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	0.700	0.200
(b) Reserves & Surplus	0.705	0.208
(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)	1.405	0.408
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.014	0.000
(c) Other long term liabilities	0.333	0.857
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.347	0.857
(4) Current Liabilities
(a) Short term borrowings	0.949	0.781
(b) Trade payables	2.812	3.248
(c) Other current liabilities	0.000	0.002
(d) Short-term provisions	0.145	0.020
Total Current Liabilities (4)	3.906	4.051
TOTAL	5.658	5.316
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.056	0.680
(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	0.007
Total Non-Current Assets	1.056	0.687
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.318	0.322
(c) Trade receivables	3.154	4.015
(d) Cash and cash equivalents	0.130	0.192
(e) Short-term loans and advances	0.000	0.100
(f) Other current assets	0.000	0.000
Total Current Assets	4.602	4.629
TOTAL	5.658	5.316

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.200
2] Share Application Money		0.000
3] Reserves & Surplus		0.092
4] (Accumulated Losses)		0.000
NETWORTH		0.292
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		1.086
TOTAL BORROWING		1.086
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.378
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.244
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.219
	Sundry Debtors	2.928
	Cash & Bank Balances	0.479
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		3.626
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor and Other Current Liabilities	2.405
	Provisions	0.095
Total Current Liabilities		2.500
Net Current Assets		1.126
MISCELLANEOUS EXPENSES		0.008
TOTAL		1.378

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	13.418	12.032	9.849
		Other Income	0.000	0.000	0.033
		TOTAL (A)	13.418	12.032	9.882
Less	EXPENSES
		Purchases of stock-in-trade	10.692	8.638
		Employee Benefits Expenses	0.929	0.379
		Audit Fees	0.012	0.012
		Director’s Remuneration	0.400	0.200
		Labour Expenses	0.217	1.269
		ITP Fees	0.003	0.003
		Factory Expenses	0.200	0.102
		Business Promotion Expenses	0.252	0.218
		Other Expenses	1.200	1.030
		Changes in inventories of Finished Goods, Work-in-progress, Stock-in-trade	(0.996)	(0.103)
		TOTAL (B)	12.909	11.748	9.651
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.509	0.284	0.231
Less	FINANCIAL EXPENSES (D)		0.175	0.068	0.065
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.334	0.216	0.166
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.139	0.104	0.014
	PROFIT BEFORE TAX (E-F) (G)		0.195	0.112	0.152
Less	TAX (H)		0.066	0.000	0.052
	PROFIT AFTER TAX (G-H) (I)		0.129	0.112	0.100
	Earnings Per Share (Rs.)		0.52	0.45	5.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.96	0.93	1.01
Net Profit Margin (PBT/Sales)	(%)	1.45	0.93	1.54
Return on Total Assets (PBT/Total Assets}	(%)	3.45	2.11	3.93
Return on Investment (ROI) (PBT/Networth)		0.14	0.27	0.52
Debt Equity Ratio (Total Debt/Networth)		0.68	1.91	3.72
Current Ratio (Current Asset/Current Liability)		1.18	1.14	1.45

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	Yes
18]	Major customers	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10244069	21/08/2010	3,500,000.00	BANK OF BARODA CHHATRAL BRANCH	AT AND POST CHHATRAL, CHHATRAL - 382729, GUJARAT, INDIA	A95834388

FIXED ASSETS

· Computer

· Furniture and Fixtures

· Machinery

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. 59.30
UK Pound	1	Rs.91.18
Euro	1	Rs.78.71

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	MRI

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	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		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

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.