MIRA INFORM REPORT

Report Date :

25.03.2013

IDENTIFICATION DETAILS

Name :	PSP TECHNO ENGINEERS PRIVATE LIMITED
Registered Office :	201, Agarwal Modern Bazar, Lawrence Road, Industrial Area, Keshav Puram, New Delhi – 110 035
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.07.2009
Com. Reg. No.:	55-192190
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U31401DL2009PTC192190
TAN No.: [Tax Deduction & Collection Account No.]	DELP15842B
PAN No.: [Permanent Account No.]	AAFCP1050P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing, Exporting and Installation of A.C/D.C/E.C. Drives, Electric Motors, PLC Scada, Electrical Panels, etc.
No. of Employees :	Approximately 30 (In Office -10 + In Factory - 20)

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 3000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively small company having moderate track record. Profitability of the company appears to be low. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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 :	Mrs. Remya Pankaj Kashan
Designation :	Director
Contact No.:	91-9680791462
Date :	11.03.2013

LOCATIONS

Registered Office / Factory / Warehouse :	201, Agarwal Modern Bazar, Lawrence Road, Industrial Area, Keshav Puram, New Delhi – 110 035, India
Tel. No.:	91-11-27180525/ 45052399
Mobile No.:	91-9680791462 (Mrs. Remya Pankaj Kashan)
Fax No.:	91-11-27180524
E-Mail :	sales@psptechno.com delhicorporate@yahoo.co.in mail@vdtc.co.in
Website :	http://www.psptechno.com
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Prem Chand Sharma
Designation :	Director
Address :	A-7/23, Block-A, Pocket - 7, Sector – 18, Rohini, New Delhi – 110 089, India
Date of Birth/Age :	01.01.1976
Date of Appointment :	14.07.2009
DIN No.:	02702519
Name :	Mrs. Remya Pankaj Kashan
Designation :	Director
Address :	WZ-1295A, Gali Lokvir Singh, Nangal Raya Village, New Delhi - 110 046, India
Date of Birth/Age :	19.02.1980
Date of Appointment :	14.07.2009
DIN No.:	02702532
Name :	Mr. Pawan Ramesh Chandra Jha
Designation :	Director
Address :	A-7/23, Block-A, Pocket - 7, Sector – 18, Rohini, New Delhi – 110 089, India
Date of Birth/Age :	04.06.1979
Date of Appointment :	14.07.2009
DIN No.:	02702522

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	Company/ LLP Status	Defaulting status
1	U31401DL2009PTC192190	PSP TECHNO ENGINEERS PRIVATE LIMITED	Director	14/07/2009	14/07/2009	Active	NO
2	U74200HR2011PTC043268	ELEKTRON AUTOMATION PRIVATE LIMITED	Director	23/06/2011	23/06/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Prem Chand Sharma	3400
Pawan Jha	3300
Remya Pankajkashan	3300
TOTAL	10000

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Exporting and Installation of A.C/D.C/E.C. Drives, Electric Motors, PLC Scada, Electrical Panels, etc.
Products :	v PLC Scada v Eddy Current Drive v Traverse Unit and Assembly v Thyristor Drives v A.C. Frequency Drive v Electrical Control Panel v Gear Boxes v Electric Motors
Exports :
Countries :	SOUTH Africa UAE
Terms :
Selling :	Cash, Credit (30 Days)
Purchasing :	Cash, Credit (30 Days)

GENERAL INFORMATION

No. of Employees :

Approximately 30 (In Office -10 + In Factory - 20)

Bankers :

• Andhra Bank
• Kotak Mahindra Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Term Loan
From Banks	0.292	0.369
TOTAL	0.292	0.369

Banking Relations :	--
Auditors :
Name :	V.D. Tiwari and Company Chartered Accountants
Address :	201, Mahavir Bhawan, Karampura Commercial Complex, New Delhi – 110 015, India
Tel. No.:	91-11-25920096
PAN No.:	AAFFV3629K

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

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		0.100	0.100	0.100
2] Share Application Money		0.230	0.230	0.000
3] Reserves & Surplus		0.527	0.389	0.125
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.857	0.719	0.225
LOAN FUNDS
1] Secured Loans		0.292	0.369	0.000
2] Unsecured Loans		1.107	0.250	0.033
TOTAL BORROWING		1.399	0.619	0.033
DEFERRED TAX LIABILITIES		0.000	0.001	0.008
TOTAL		2.256	1.339	0.266
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.414	0.542	0.109
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.019	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.725	1.603	0.590
	Sundry Debtors	2.689	4.276	2.095
	Cash & Bank Balances	0.272	1.816	0.070
	Other Current Assets	0.243	0.045	0.000
	Loans & Advances	0.225	0.085	0.107
Total Current Assets		5.154	7.825	2.862
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.870	6.223	1.954
	Other Current Liabilities	0.382	0.675	0.230
	Provisions	0.079	0.130	0.521
Total Current Liabilities		3.331	7.028	2.705
Net Current Assets		1.823	0.797	0.157
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2.256	1.339	0.266

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	26.476	7.325
		Other Income		0.432	0.550
		TOTAL (A)	NA	26.908	7.875
Less	EXPENSES
		Cost of Goods Sold	NA	23.731	6.228
		Salary		0.278	0.220
		Bonus		0.100	0.088
		Rent		0.196	0.156
		Telephone Expenses		0.093	0.053
		Service Charge		0.109	0.048
		Sales Promotion		0.040	0.095
		Conveyance		0.047	0.043
		Traveling Expenses		0.059	0.067
		Directors Remuneration		0.900	0.480
		Other Expenses		0.925	0.247
		TOTAL	NA	26.478	7.725
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	0.430	0.150
Less/ Add	DEPRECIATION/ AMORTISATION		0.167	0.152	0.025
	PROFIT BEFORE TAX		0.137	0.278	0.125
Less	TAX		NA	0.013	0.000
	PROFIT AFTER TAX		NA	0.265	0.125
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	0.125	0.000
	BALANCE CARRIED TO THE B/S		NA	0.390	0.125
	Earnings Per Share (Rs.)		--	26.50	1.24

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	0.98	1.59
Net Profit Margin (PBT/Sales)	(%)	NA	1.05	1.71
Return on Total Assets (PBT/Total Assets}	(%)	2.45	3.32	4.21
Return on Investment (ROI) (PBT/Networth)		0.16	0.39	0.56
Debt Equity Ratio (Total Debt /Networth)		1.63	0.86	0.15
Current Ratio (Current Asset/Current Liability)		1.54	1.11	1.06

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 two 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	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 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
From Directors	0.000	0.033
Short Term Borrowings
Other Loans and Advances
Advances from Customers	1.107	0.217
TOTAL	1.107	0.250

OPERATION

The profit and loss account for the period shows net profit of Rs. 0.137 Million providing for depreciation amounting to Rs. 0.167 Million

FIXED ASSETS

• Furniture
• Car
• Computer

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. 53.33
UK Pound	1	Rs. 82.55
Euro	1	Rs. 70.10

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	DPT

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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
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
-	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.