MIRA INFORM REPORT

Report Date :

02.05.2013

IDENTIFICATION DETAILS

Name :	MARKANDESHWAR ENGINEERING PRIVATE LIMITED
Registered Office :	Plot No. A 93, MIDC Area, Taloja, Panvel, Raigad-410208, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.06.1990
Com. Reg. No.:	11-057036
Capital Investment / Paid-up Capital :	Rs. 0.450 Million
CIN No.: [Company Identification No.]	U28920MH1990PTC057036
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture of Mild Steel Wires
No. of Employees :	Information denied by the management

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 4000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company has incurred a loss in the current year. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. 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.

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 DECLINED BY

Name :	Mr. Vijay Gupta
Designation :	Director
Contact No.:	91-9322888449
Date :	29.04.2013

LOCATIONS

Registered Office :	Plot No. A 93, MIDC Area, Taloja, Panvel, Raigad-410208, Maharashtra, India
Tel. No.:	91-2192-27424956
Mobile No.:	91-9322888449 (Mr. Vijay Gupta)
Fax No.:	Not Available
E-Mail :	bharatcranehiringco@gmail.com

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Vijay Uggarsen Gupta
Designation :	Director
Address :	Sail Co-Operative Housing Society Limited, A4, Sector 8, Kalamboli, Navi Mumbai-410218, Maharashtra, India
Date of Birth/Age :	28.08.1951
Date of Appointment :	25.11.1999
DIN No.:	00271311
Name :	Mr. Gopal Vijay Gupta
Designation :	Director
Address :	Sail Co-Operative Housing Society Limited, A4, Sector 8, Kalamboli, Navi Mumbai-410218, Maharashtra, India
Date of Birth/Age :	21.06.1984
Date of Appointment :	21.10.2003
DIN No.:	00289264

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Equity Shareholders	No. of Shares
Giridharlal Ramsarndas Khandelwal	3500
Suresh Vijay Gupta	8200
Ravindra Uggarsen Aggrwal	250
Anilkumar Uggarsen Aggrwal	1500
Suresh Uggarsen Gupta	3500
Satishkumar Amarnath Sigla	3500
Brijmohan Amarnath Sigla	2300
Rajeshkumar Amarnath Sigla	3000
Sanjeev Vijay Gupta	950
Gaurav Vijay Gupta	1300
Gopal Vijay Gupta	1300
Bhupendra Narayansing Bhengura	100
Virendra Ratanlal Aggarwal	2550
Amaranth Motilal Sigla	50
Prakashvati Amarnath Sigla	750
Ganpatedevi Uggarsen Gupta	650
Yogita Virendra Aggarwal	50
Deepa Ravinder Aggarwal	3050
Vijaykumar Gupta (HUF)	2000
Usha Kailashchand Goel	1000
Rita Rajesh Sigla	500
TOTAL	40000

Names of Preference Shareholders	No. of Shares
Sanjeev Vijay gupta	2000
Gaurav Vijay Gupta	1500
Gopal Vijay Gupta	1500
TOTAL	5000

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	94.00
Other top fifty shareholders	6.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacture of Mild Steel Wires
Products :	M S Wire

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	Actual Production
M S Wire	MT	1657343

GENERAL INFORMATION

No. of Employees :

Information denied by the management

Bankers :

• Union Bank of India, Bhandup (West) Branch, Ground Floor, 110, Bhaichand Textile Mills Compound, Building “B”, Mumbai-400078, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Short Term Borrowings
From Banks :
Overdraft facilities from Union Bank of India, Bhandup, secured against Hypothecation of Stock guaranteed by Directors	4.231	5.272
TOTAL	4.231	5.272

Banking Relations :	--
Auditors :
Name :	Ashwin C Matalia Chartered Accountant
Address :	3108, Bhandup Industrial Estate, A Pannalal Compound, LBS Marg, Bhandup (West), Mumbai-400078, Maharashtra, India
PAN No.:	AAAPM6837F
Related Parties :	Aggarwal Allied Industries Bharat Wire Industries Bhutda Fabricators Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.10/- each	Rs. 0.400 Million
5000	4% Non-Cumulative Preference Shares	Rs.10/- each	Rs. 0.050 Million
	TOTAL		Rs. 0.450 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.10/- each	Rs. 0.400 Million
5000	4% Non-Cumulative Preference Shares	Rs.10/- each	Rs. 0.050 Million
	TOTAL		Rs. 0.450 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		0.450	0.450	0.450
2] Share Application Money		0.053	0.050	0.050
3] Reserves & Surplus		0.737	0.785	0.672
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.240	1.285	1.172
LOAN FUNDS
1] Secured Loans		4.231	5.272	2.738
2] Unsecured Loans		2.191	3.253	3.800
TOTAL BORROWING		6.422	8.525	6.538
DEFERRED TAX LIABILITIES		0.000	0.019	0.000
TOTAL		7.662	9.829	7.710
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.633	0.765	0.765
Capital work-in-progress		0.000	0.763	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.016	0.000	0.024
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.910	6.536	8.479
	Sundry Debtors	2.284	4.532	4.375
	Cash & Bank Balances	1.176	0.966	0.112
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.512	0.458	0.775
Total Current Assets		9.882	12.492	13.741
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.021	3.298	5.331
	Other Current Liabilities	0.739	0.718	1.100
	Provisions	0.109	0.175	0.389
Total Current Liabilities		3.869	4.191	6.820
Net Current Assets		6.013	8.301	6.921
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.662	9.829	7.710

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	67.886	58.643	50.887
		OTHER Operating Revenues – Lorry Hires	0.208	0.000	NA
		Other Income	0.126	0.178	NA
		TOTAL (A)	68.220	58.821	NA
Less	EXPENSES
		Cost of materials consumed	61.711	49.276	NA
		Changes in inventories of Work in Progress and Finished Goods	0.647	2.707
		Employee benefits expense	0.802	0.951
		Other expenses	3.837	4.686
		Exceptional items	0.000	0.004
		TOTAL (B)	66.997	57.624	NA
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.223	1.197	NA
Less	FINANCIAL EXPENSES (D)		0.943	0.835	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.280	0.362	0.421
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.350	0.111	0.097
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(0.070)	0.251	0.324
Less	TAX (H)		(0.022)	0.138	0.111
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(0.048)	0.113	0.213
	Earnings Per Share (Rs.)		(1.20)	2.84	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(0.07)	0.19	NA
Net Profit Margin (PBT/Sales)	(%)	(0.10)	0.43	0.64
Return on Total Assets (PBT/Total Assets}	(%)	(0.61)	1.89	2.23
Return on Investment (ROI) (PBT/Networth)		(0.06)	0.20	0.28
Debt Equity Ratio (Total Debt /Networth)		5.18	6.63	5.58
Current Ratio (Current Asset/Current Liability)		2.55	2.98	2.01

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	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	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	No

UNSECURED LOAN

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011
Long Term Borrowings
Loans from Directors	0.276	0.286
Loans from Shareholders	1.400	1.450
Loans from Reliance Capital Limited	0.235	0.000
Short Term Borrowings
From Others-Reliance Capital Limited-Due within next twelve month	0.280	0.000
From Others-Bajaj Finserv Limited-Due within next twelve month	0.000	1.457
From Others-Bank-Due within next twelve month	0.000	0.060
TOTAL	2.191	3.253

SUNDRY CREDITORS DETAILS

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011	31.03.2010
Sundry Creditors
Micro, Small and Medium Enterprises	0.000	0.000	0.000
Others	3.021	3.298	5.331
TOTAL	3.021	3.298	5.331

FINANCIAL RESULTS

During the year company continued to face recession and lack of demand in its products. Increase in Turnover is due to business at compulsive prices and inability to enhance margin. Hence Company has to suffer a minor loss after provision of depreciation. However ways and means to tackle current market conditions are under implementation and directors hope to turn around in the current year.

FIXED ASSETS

• Factory Building
• Plant and Machinery
• Furniture and Fixtures
• Vehicles
• Office Equipments
• Computers

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. 54.21
UK Pound	1	Rs. 84.00
Euro	1	Rs. 70.97

INFORMATION DETAILS

Information Gathered by :	SVA
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	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.