MIRA INFORM REPORT

Report Date :

12.06.2013

IDENTIFICATION DETAILS

Name :	G. B. ENTERPRISES PRIVATE LIMITED (w.e.f. 04.12.2006)
Formerly Known As :	OLYMPUS TELEVISIONS PRIVATE LIMITED
Registered Office :	WZ F/ 28, Milap Nagar, Uttam Nagar, New Delhi - 110034
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.01.1990
Com. Reg. No.:	55-038835
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U74899DL1990PTC038835
TAN No.: [Tax Deduction & Collection Account No.]	DELG11067A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of All Type of Pre Fabricated Panels and Allied Items.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 35000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears huge external borrowings during 2012, which affect the liquidity of the company. The short term liquidity position also appears to be weak, but the company has shown a decent profitability. Trade relations are 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

Name :	Mr. Suresh Bhardwaj
Designation :	Manager
Contact No.:	91-9718500578
Date :	11.06.2013

LOCATIONS

Registered Office :	WZ F/ 28, Milap Nagar, Uttam Nagar, New Delhi – 110034, India
Tel. No.:	91-1276-268826
Mobile No.:	91-9718500578 (Mr. Suresh Bhardwaj)
Fax No.:	91-1276-268827
E-Mail :	dschudacomplex@rediffmail.com gbenterprises07@gmail.com gbenterprises07@rediffmail.com dschudacomplex@rediffmail.com
Website :	http://www.gbrollforms.com
Location :	Owned
Factory :	Plot No.2005-2006, MIE, Part – B, Bahaduegarh – 124507, Haryana, India
Tel. No.:	91-1276-268826
Fax No.:	91-1276-268827
Location :	Owned

DIRECTORS

As on: 21.09.2012

Name :

Mr. Pradeep Kumar Jain

Designation :

Managing Director

Address :

146, Rajdhani Enclave, Pitampura, New Delhi – 110034, India

Date of Appointment :

20.07.2006

Mobile No.:

91-9910645111/ 9718500580

DIN No.:

00182923

Name :

Mr. Naresh Kumar Jain

Designation :

Director

Address :

76, Deepali, Pitampura, Delhi – 110034, India

Date of Appointment :

20.07.2006

DIN No.:

00182943

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	U74899DL1992PTC047986	Descon Buildwell Private Limited	Director	02/01/1997	02/01/1997	-	Active	NO
2	U51909DL2005PTC132200	Essel Derivatives Private Limited	Director	18/01/2005	18/01/2005	21/10/2009	Active	NO
3	U74899DL1990PTC038835	G.B. Enterprises Private Limited	Director	20/07/2006	20/07/2006	01/10/2012	Active	NO

Name :

Mr. Nikhil Gupta

Designation :

Director

Address :

2689/199, Onkar Nagar-A, Tri Nagar, Delhi – 110035, India

Date of Appointment :

20.07.2006

Mobile No.:

91-9810312066/ 9718500575

DIN No.:

00553663

Name :

Mr. Navin Kumar Jain

Designation :

Director

Address :

1251/10, Shiv Nagar, Rohtak, India

Date of Appointment :

20.07.2006

DIN No.:

00553735

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	U74899DL1990PTC038835	G.B. Enterprises Private Limited	Director	20/07/2006	20/07/2006	-	Active	NO
2	U34300HR2008PTC038364	Genex Turned Components Private Limited	Director	01/04/2010	01/04/2010	-	Active	NO
3	U34300DL2007PTC170185	Abyla Turned Components Private Limited	Director	05/12/2011	05/12/2011	-	Active	NO

Name :

Mr. Rahul Jain

Designation :

Director

Address :

H. No.1251/20, Shiv Nagarm Rohtak – 124001, Haryana, India

Date of Birth/Age :

11.09.1991

Date of Appointment :

27.12.2010

DIN No.:

03370979

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	U74899DL1990PTC038835	G.B. Enterprises Private Limited	Director	27/12/2010	27/12/2010	-	Active	NO
2	U35990DL2007PTC170187	N.B. Turned Components Private Limited	Director	26/07/2011	26/07/2011	-	Active	NO
3	U51109HR2008PTC038073	Dsc Trading Company Private Limited	Director	16/12/2011	16/12/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Suresh Bhardwaj
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 21.09.2012

Names of Shareholders	No. of Shares
Rajinder	3000
Prem Kumar	3000
Satish Kumar	10
Saroj Jain	2010
Balwan	2000
Navin Jain	23750
Navin Jain (HUF)	40000
Saroj Jain	20000
Pardeep Kumar Jain	81800
Ravi Kumar Jain	2500
Subhash Chand Jain	2500
Priyanka	2200
Salochana Jain	2200
Shilpa Jain	2500
Nikhil Gupta	62500
Total	249970

Equity Share Break up (Percentage of Total Equity)

As on: 21.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of All Type of Pre Fabricated Panels and Allied Items.
Products :	Z Purlins (Without Lipped) 2 C  Channels and Purlins Lip Channels Equal and Unequal Channels, Angles (Plain As Well As Lipped) Open Square Pipes Top Hat Sections Inter Building Beam / Multi Beam Steel Door Window Frame Profiles & Sections Strut Channels Stud Track Furring Special Profiles As Per Customer Requirement, Made From Roll Formed Metal Section Cable Trays Perforated & Its Support System Race Ways UPVC Door Window Steel Reinforcement Profile / Section Profiles/ Section For Prefab House Such As W,H,T Profile And It's All Complete Solutions Palisade Fencing Building Interior Products Solar Plant Steel Structure
Exports :
Products :	G I Section
Countries :	Nepal
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

25 (Approximately)

Bankers :

· Indian Overseas Bank, FG – 1, Shyam Ji Complex, Delhi Road, Bahadur Garh – 124507, Haryana India

· Oriental Bank of Commerce

· Kotak Mahindra Bank

· HDFC Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
IBO Cash Credit	9.092	8.118
Total	9.092	8.118

Banking Relations :	--
Auditors :
Name :	Devender Suresh and Company Chartered Accountant
Address :	SCO 44, Huda Complex, Rohtak – 124001, Harayana, India
Tel. No.:	91-1262-257136
Mobile No.:	91-9896291846

CAPITAL STRUCTURE

As on: 21.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
249970	Equity Shares	Rs.10/- each	Rs. 2.500 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	2.500	2.500
(b) Reserves & Surplus	4.980	3.321
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	1.500	1.500
(3) Non-current liabilities
(a) long-term borrowings	19.432	14.871
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
(4) Current liabilities
(a) Short term borrowings	9.092	8.118
(b) Trade payables	14.230	14.764
(c) Other current liabilities	1.026	0.969
(d) Short-term provisions	0.612	0.607
TOTAL	53.372	46.650
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.338	8.417
(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	0.631	0.616
(e) Other Non-current assets	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	10.581	12.987
(c) Trade receivables	28.258	19.177
(d) Cash and cash equivalents	2.981	4.528
(e) Short-term loans and advances	1.583	0.925
(f) Other current assets	0.000	0.000
TOTAL	53.372	46.650

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		1.968
3] Reserves & Surplus		2.006
4] (Accumulated Losses)		0.000
NETWORTH		4.074
LOAN FUNDS
1] Secured Loans		1.174
2] Unsecured Loans		14.324
TOTAL BORROWING		15.498
DEFERRED TAX LIABILITIES		0.000
TOTAL		19.572
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.560
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.402
	Sundry Debtors	14.042
	Cash & Bank Balances	3.015
	Other Current Assets	0.004
	Loans & Advances	1.690
Total Current Assets		26.153
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	12.686
	Other Current Liabilities	0.829
	Provisions	0.626
Total Current Liabilities		14.141
Net Current Assets		12.012
MISCELLANEOUS EXPENSES		0.000
TOTAL		19.572

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	140.191	123.587	101.063
		Job Work Charges	4.743	0.428	1.926
		Other Income	0.661	0.427	0.065
		TOTAL (A)	145.595	124.442	103.054
Less	EXPENSES
		Raw Materials Consumed	126.802	104.316	87.609
		Manufacturing Expenses	4.390	7.076	4.389
		Salary and Wages	4.077	3.672	2.573
		Office and Administrative Expenses	3.476	2.901	3.677
		TOTAL (B)	138.745	117.965	98.248
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.850	6.477	4.806
Less	FINANCIAL EXPENSES (D)		3.248	3.311	1.763
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.602	3.166	3.043
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.330	1.245	1.135
	PROFIT BEFORE TAX (E-F) (G)		2.272	1.921	1.908
Less	TAX (H)		0.612	0.607	0.625
	PROFIT AFTER TAX (G-H) (I)		1.660	1.314	1.283
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3.321	2.007	0.724
	BALANCE CARRIED TO THE B/S		4.981	3.321	2.007
	Earnings Per Share (Rs.)		6.64	5.26	128.04

Particulars	31.03.2013
Sales Turnover (Approximately)	160.000

Expected Sales (2013-14): Rs.240.000 Millions

The above information has been parted by Mr. Suresh Bhardwaj (Manager)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.14	1.06	1.24
Net Profit Margin (PBT/Sales)	(%)	1.62	1.55	1.89
Return on Total Assets (PBT/Total Assets}	(%)	4.26	4.11	5.66
Return on Investment (ROI) (PBT/Networth)		0.25	0.26	0.47
Debt Equity Ratio (Total Debt/Networth)		3.18	3.14	3.80
Current Ratio (Current Asset/Current Liability)		2.78	2.33	1.85

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	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
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	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

Unsecured Loan

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Other loans and advance	19.432	14.871
Total	19.432	14.871

FINANCIAL RESULTS

Company has earned a profit of Rs.2.272 Millions (Previous year Rs.1.920 Millions) during the year.

FUTURE PROSPECTS

During the year company’s Sales Rs.154.688 Millions (Previous year Rs.136.084 Millions) in its 5th year of Production. Company’s performance was quite satisfactory. The directors are hopeful of good performance in the next coming year.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Tools and Dies

· Scooter and Cycle

· Motor Car

· Computer and Invertor

· Mobile

· Furniture and Fixtures

· Weighing Scale

· Generator

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. 58.92
UK Pound	1	Rs. 91.81
Euro	1	Rs. 78.18

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.