Business information report

1. Summary Information

		Country	India
Company Name	APOLO EXTRUSIONS LIMITED	Principal Name 1	Apoorva Ravindrakumar Grover
Status	Moderate	Principal Name 2	Ravindra Kumar Grover
		Registration #	11-181451
Street Address	6, Hindustan Kohinoor Industrial Complex, LBS Marg, Vikhroli (West), Mumbai – 400083, Maharashtra
Established Date	23.04.2008	SIC Code	--
Telephone#	91-22-25787791	Business Style 1	Manufacturer
Fax #	91-22-25787793	Business Style 2	Trader
Homepage	Not Available	Product Name 1	Ferro Alloys
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 4,400,000/-	Product Name 3	--
Shareholders	Bodies corporate 89.00% Directors or relatives of directors 11.00%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	5 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (33)
Related Company
Relation	Country	Company Name	CEO
Holding Company	India	Ravnar Alloys Private Limited
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	118,117,000	Current Liabilities	2,370,000
Inventories	91,482,000	Long-term Liabilities	132,673,000
Fixed Assets	30,441,000	Other Liabilities	1,562,000
Deferred Assets	0,000	Total Liabilities	136,605,000
Invest& other Assets	1,036,000	Retained Earnings	100,071,000
		Net Worth	104,471,000
Total Assets	241,076,000	Total Liab. & Equity	241,076,000
Total Assets (Previous Year)	271,519,000

P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	225,838,000	Net Profit	1,067,000
Sales(Previous yr)	214,433,000	Net Profit(Prev.yr)	1,121,000

MIRA INFORM REPORT

Report Date :

01.06.2013

IDENTIFICATION DETAILS

Name :	APOLO EXTRUSIONS LIMITED
Registered Office :	6, Hindustan Kohinoor Industrial Complex, LBS Marg, Vikhroli (West), Mumbai – 400083, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	23.04.2008
Com. Reg. No.:	11-181451
Capital Investment / Paid-up Capital :	Rs. 4.400 Millions
CIN No.: [Company Identification No.]	U27320MH2008PLC181451
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Trader of Ferro Alloys
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 417800
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profitability of the company appears to be very low. However, trade relations are fair. Business is active. Payments are recorded as 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL NSIC
Rating	Performance and credit rating = SE2B
Rating Explanation	High performance capability and moderate financial strength.
Date	December 12, 2012

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 :	6, Hindustan Kohinoor Industrial Complex, LBS Marg, Vikhroli (west) Mumbai – 400083, Maharashtra, India
Tel. No.:	91-22-25787791/92
Mobile No.:	91-9322203287 (Mr. Udayn Grover)
Fax No.:	91-22-25787793
E-Mail :	wizardroc@rediffmail.com
Factory:	C-54, Udyoog kunj, Panki Site, V. Kanpur -208022, Uttar Pradesh, India
Admin Office:	Plot No.22, 84/21 Factory Area, Fazalganj, Kanpur – 208012, Uttar Pradesh, India
Tel. No.:	91-512-2296870
Fax No.:	91-512-2216132
Email:	apoloextrucusions@yahoo.co.in

DIRECTORS

As on 28.09.2012

Name :

Mr. Udayan Kumar Grover

Designation :

Managing Director

Address :

Flat No. 202, Panchmahal, Panch Sristhi Complex, Near S.M Shetty School, Hiranandani, Powai, Mumbai- 400072, Maharashtra, India

Date of Birth/Age :

09.05.1977

Date of Appointment :

01.02.2013

DIN No.:

00123813

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	U27100MH2004PLC146549	GROVER METALLOYS LIMITED	Director	26-05-04	26-05-04	-	Active	NO
2	U27320MH2008PLC181451	Apolo Extrusions Limited	Managing director	01-02-13	23-04-08	-	Active	NO
3	U27100MH2010PTC203080	RAVNAR ALLOYS PRIVATE LIMITED	Director	12-05-10	12-05-10	-	Active	NO
4	U45202MH1994PTC083347	INCREDIBLE PROPERTIES PRIVATE LIMITED	Director	21-07-10	21-07-10	-	Active	NO

Name :

Mr. Ravindra Kumar Grover

Designation :

Managing Director

Address :

Flat No. 602, Panchmahal, Panch Sristhi Complex, Near S.M Shetty School, Hiranandani, Powai, Mumbai- 400072, Maharashtra, India

Date of Birth/Age :

20.02.1962

Date of Appointment :

01.02.2013

DIN No.:

00123821

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	U27100MH2004PLC146549	GROVER METALLOYS LIMITED	Director	26-05-04	26-05-04	-	Active	NO
2	U27320MH2008PLC181451	Apolo Extrusions Limited	Managing director	01-02-13	23-04-08	-	Active	NO
3	U27100MH2010PTC203080	RAVNAR ALLOYS PRIVATE LIMITED	Director	12-05-10	12-05-10	-	Active	NO
4	U45202MH1994PTC083347	INCREDIBLE PROPERTIES PRIVATE LIMITED	Director	21-07-10	21-07-10	-	Active	NO
5	U45400MH2011PTC220966	BG INFRASHELTERS PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO

Name :

Mrs. Apoorva Ravindrakumar Grover

Designation :

Director

Address :

Flat No. 602, Panchmahal, Panch Sristhi Complex, Near S.M Shetty School, Hiranandani, Powai, Mumbai- 400072, Maharashtra, India

Date of Birth/Age :

23.06.1989

Date of Appointment :

01.01.2011

DIN No.:

03364342

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares
Ravindra Kumar Grover	22500
Udayan Grover	22500
Lilavati Grover	1000
Anupama Grover	1000
Nidhi Grover	1000
Ruchi Grover	1000
Apoorva Grover	1000
Ravnar Alloys Private Limited, India	390000
Total	440000

As on 28.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	89.00
Directors or relatives of Directors	11.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Ferro Alloys

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, SIMCCC, Zonal Office, Kanpur -208001, Uttar Pradesh, India

· Bank of Baroda

Facilities :

SECURED LOAN	31.03.2012 (Rs. In Millions)
Bank of Baroda C/C	59.627
Total	59.627
(Secured against hypothecation of Stocks and FD and Personal guarantee of Directors and equitable mortgaged by Factory Land and Building at F-10, Udyog Kunj - Kanpur)
SECURED LOANS	31.03.2011 (Rs. In Millions)
SBI Cash Credit A/c	32.746
SBI B/D A/c	15.207
SBI FCNRB A/c	0.000
SBI O/D A/c (Note: secured against hypothecation of stock and FDRS and personal guarantee of Directors	23.826
Total	71.779

Banking Relations :	--
Auditors :
Name :	Jain Ashwani and Company Chartered Accountants
Address :	45, Chaman Lal Market, Gumit No. 5, Kanpur – 208012, Uttar Pradesh, India
PAN.:	AAEFJ461G
Holding Company: (As on 31.03.2011)	Ravnar Alloys Private Limited CIN No.:U27100MH2010PTC203080

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
440000	Equity Shares	Rs.10/- each	Rs. 4.400 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		4.400	4.400	4.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		100.071	99.003	97.882
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		104.471	103.403	102.282
LOAN FUNDS
1] Secured Loans		59.627	71.779	66.365
2] Unsecured Loans		73.046	94.234	38.195
TOTAL BORROWING		132.673	166.013	104.560
DEFERRED TAX LIABILITIES		0.012	0.010	0.007
TOTAL		237.156	269.426	206.849
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		30.441	27.440	23.027
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.036	48.879	44.653
DEFERREX TAX ASSETS			0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	91.482	80.776	59.408
	Sundry Debtors	68.249	60.327	56.971
	Cash & Bank Balances	9.720	18.532	0.414
	Other Current Assets	0.030	0.000	0.000
	Loans & Advances	40.118	35.504	29.718
Total Current Assets		209.599	195.139	146.511
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.729	0.339	1.462
	Other Current Liabilities	0.641	0.000	3.940
	Provisions	1.550	1.754	2.031
Total Current Liabilities		3.920	2.093	7.433
Net Current Assets		205.679	193.046	139.078
MISCELLANEOUS EXPENSES		0.000	0.061	0.091
TOTAL		237.156	269.426	206.849

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	225.838	214.433	179.150
		Other Income	3.362	6.989	4.331
		TOTAL (A)	229.200	221.422	183.481
Less	EXPENSES
		Cost of Goods Sold	223.235	176.282	149.929
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(21.459)	--	--
		Employee benefits expense	0.889	--	--
		Manufacturing Expenses	0.000	21.829	15.613
		General and Administrative Expenses	0.000	8.424	7.694
		Other expenses	11.429	--	--
		TOTAL (B)	214.094	206.535	173.236
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		15.106	14.687	10.245
Less	FINANCIAL EXPENSES (D)		13.462	13.174	7.474
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.644	1.713	2.771
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.100	0.091	0.048
	PROFIT BEFORE TAX (E-F) (G)		1.544	1.622	2.723
Less	TAX (H)		0.477	0.501	0.841
	PROFIT AFTER TAX (G-H) (I)		1.067	1.121	1.882
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5.403	4.282	2.400
	BALANCE CARRIED TO THE B/S		6.470	5.403	4.282
	Earnings Per Share (Rs.)		2.42	2.55	4.28

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.46	0.50	1.03
Net Profit Margin (PBT/Sales)	(%)	0.68	0.76	1.48
Return on Total Assets (PBT/Total Assets}	(%)	0.64	0.72	1.61
Return on Investment (ROI) (PBT/Networth)		0.01	0.02	0.03
Debt Equity Ratio (Total Debt /Networth)		1.27	1.63	1.09
Current Ratio (Current Asset/Current Liability)		53.47	93.23	19.71

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	No
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	No
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	Yes

UNSECURED LOAN

Particulars	31.03.2012 (Rs. In Millions)
Loan from Director
Apoorva Grover	1.145
Ravindra Kumar Grover	12.518
Udayan grover	35.844
Ravnar Alloys Private Limited	0.539
Loan from Others
Jaycee Home Limited	23.000
Total	73.046

Particulars	31.03.2011 (Rs. In Millions)
Apoorva Grover	0.866
Ravindra Kumar Grover	22.170
Ruchi Grover	1.455
Udayn Grover	29.743
Others:
Jaycee Home Limited	40.000
Total	94.234

FIXED ASSETS:

· Land

· Plant and Machinery

· Sewing Machine

· Electronic Weighting Scale

· Computer

· Air Conditioner

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.56.49
UK Pound	1	Rs.86.00
Euro	1	Rs.73.68

INFORMATION DETAILS

Report Prepared by :

ANK

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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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.