MIRA INFORM REPORT

Report Date :

27.06.2013

IDENTIFICATION DETAILS

Name :	EQUIPMENT ENGINEERS PRIVATE LIMITED
Registered Office :	131, Jodhpur Park, Kolkata-700068, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	24.08.1995
Com. Reg. No.:	21-073652
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U29130WN1995PTC073652
TAN No.: [Tax Deduction & Collection Account No.]	CALE01199C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Material Handling Equipments.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 33000
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

Name :	Mr. Atish Kumar Roy
Designation :	Director
Contact No.:	91-9830033324
Date :	24.06.2013

LOCATIONS

Registered / Branch Office :	131, Jodhpur Park, Kolkata-700068, West Bengal, India
Tel. No.:	91-33-24187866/ 24187869
Mobile No.:	91-9830033324 [Mr. Atish Kumar Roy]
Fax No.:	91-33-24187869
E-Mail :	equipment.engineers@gmail.com equip@vsnl.net
Website :	http://www.eeplkolkata.com

DIRECTORS

As on: 30.09.2012

Name :	Mr. Atish Kumar Roy
Designation :	Managing Director
Address :	35/1, Milan Park, Kolkata-700084, West Bengal, India
Date of Birth/Age :	08.09.1949
Date of Appointment :	24.08.1995
Din No.:	01121359
Name :	Mrs. Swapna Roy
Designation :	Whole Time Director
Address :	35/1, Milan Park, Kolkata-700084, West Bengal, India
Date of Birth/Age :	27.11.1951
Date of Appointment :	24.08.1995
Din No.:	01120222
Name :	Chandrama Roy
Designation :	Director
Address :	35/1, Milan Park, Kolkata-700084, West Bengal, India
Date of Birth/Age :	11.04.1983
Date of Appointment :	01.12.2000
Din No.:	01121041
Name :	Arunava Roy
Designation :	Director
Address :	35/1, Milan Park, Kolkata-700084, West Bengal, India
Date of Birth/Age :	02.02.1978
Date of Appointment :	01.12.2000
Din No.:	01120860

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2012

Names of Shareholders	No. of Shares
Atish Kumar Roy	22000
Swapna Roy	1000
Chandrama Roy	1000
Arunava Roy	1000
Total	25000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Material Handling Equipments.
Exports :
Products :	Material Handling Equipments
Countries :	UAE
Terms :
Selling :	Cash [30 days]
Purchasing :	Cash and Credit [30 and 60 days]

GENERAL INFORMATION

Customers :

End Users, OEM’s and Manufacturer

No. of Employees :

50 (Approximately)

Bankers :

State Bank of India, SME CCC, Kolkata, 4^th Floor, 1, Strand Road, Kolkata-700001, West Bengal, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Cash credit from state bank of India	4.830	3.022
Total	4.830	3.022

Banking Relations :	--
Auditors :
Name :	S. Chowdhury and Company Chartered Accountants
Address :	114B/1, Selimpur Road, Kolkata-700031, West Bengal, India
PAN No.:	ACSPC0436G

CAPITAL STRUCTURE

As on: 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- 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	5.829	4.181
(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)	8.329	6.681
(3) Non-Current Liabilities
(a) long-term borrowings	2.119	1.917
(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
Total Non-current Liabilities (3)	2.119	1.917
(4) Current Liabilities
(a) Short term borrowings	4.830	3.022
(b) Trade payables	3.581	19.820
(c) Other current liabilities	9.094	11.172
(d) Short-term provisions	0.000	0.221
Total Current Liabilities (4)	17.505	34.235
TOTAL	27.953	42.833
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.608	1.848
(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	0.100	0.265
Total Non-Current Assets	1.708	2.113
(2) Current assets
(a) Current investments
(b) Inventories	10.103	2.394
(c) Trade receivables	11.201	35.075
(d) Cash and cash equivalents	3.688	2.540
(e) Short-term loans and advances	0.851	0.600
(f) Other current assets	0.402	0.111
Total Current Assets	26.245	40.720
TOTAL	27.953	42.833

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.500
2] Share Application Money		0.000
3] Reserves & Surplus		2.977
4] (Accumulated Losses)		0.000
NETWORTH		5.477
LOAN FUNDS
1] Secured Loans		2.986
2] Unsecured Loans		1.478
TOTAL BORROWING		4.464
DEFERRED TAX LIABILITIES		0.000
TOTAL		9.941
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.111
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.195
	Sundry Debtors	10.974
	Cash & Bank Balances	1.820
	Other Current Assets	0.000
	Loans & Advances	1.942
Total Current Assets		18.931
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.502
	Other Current Liabilities	1.236
	Provisions	1.363
Total Current Liabilities		11.101
Net Current Assets		7.830
MISCELLANEOUS EXPENSES		0.000
TOTAL		9.941

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	39.632	36.512	41.918
		Other Income	0.598	4.814	1.483
		Insurance Freight Charges	0.000	0.000	0.063
		TOTAL (A)	40.230	41.326	43.464
Less	EXPENSES
		Raw Materials Consumed	30.532	24.757	23.135
		Manufacturing Expenses	7.441	7.222	9.593
		Employee benefit expenses	3.638	2.768
		Selling, Administrative and General Expenses	2.461	2.375	6.377
		Increase/ Decrease in Finished Goods	(6.443)	1.565	2.387
		TOTAL (B)	37.629	38.687	41.492
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.601	2.639	1.972
Less	FINANCIAL EXPENSES (D)		0.355	0.531	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.246	2.108	1.972
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.265	0.316	0.300
	PROFIT BEFORE TAX (E-F) (G)		1.981	1.792	1.672
Less	TAX (H)		0.334	0.588	0.517
	PROFIT AFTER TAX (G-H) (I)		1.647	1.204	1.155
Less	SALES TAX FOR EARLIER YEARS		0.000	0.000	0.026
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.082	2.878	1.749
	BALANCE CARRIED TO THE B/S		5.729	4.082	2.878
	Earnings / (Loss) Per Share (Rs.)		66.00	48.16	46.20

Particulars	31.03.2013
Sales Turnover (Approximately)	55.000

Expected Sales (2013-2014): Rs. 60.000 Millions

The above information has been parted by Mr. Atish Kumar Roy) Director

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	4.10	2.91	2.65
Net Profit Margin (PBT/Sales)	(%)	4.99	4.91	3.99
Return on Total Assets (PBT/Total Assets}	(%)	7.09	4.18	7.95
Return on Investment (ROI) (PBT/Networth)		0.23	0.27	0.31
Debt Equity Ratio (Total Debt/Networth)		0.83	0.73	0.81
Current Ratio (Current Asset/Current Liability)		1.50	1.19	1.71

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	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	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	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

NOTE:

The registered office of the company has been shifted from 428, Lake Gardens, Kolkata-700035, West Bengal, India to the present address w.e.f. 01.10.2007.

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
From Director	2.119	1.828
From others	0.000	0.089
Total	2.119	1.917

FIXED ASSETS:

• Office Equipments
• Computer and Printer
• Electrical Installations
• Furniture and Fixtures
• Machinery and Instruments
• Tools and Implements
• Motor Car
• Building
• Factory Shed and Extension

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. 59.85
UK Pound	1	Rs. 92.31
Euro	1	Rs. 78.22

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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		46

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.