MIRA INFORM REPORT

Report Date :

07.05.2013

IDENTIFICATION DETAILS

Name :	MARUTI MACHINES PRIVATE LIMITED
Registered Office :	B-23, Ambica Nagar Industrial Estate, Near Aapa Hotel, B/H Odhav Fire station, Ambica Nagar, Odhav, Ahmedabad-382410, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.11.2009
Com. Reg. No.:	04-058560
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U29190GJ2009PTC058560
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Packaging Machinery and Beverages Plant.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 6200
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 commitment. The company can be considered normal for business dealings at usual trade terms and condition.

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

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. Haresh Patel
Designation :	Director
Contact No.:	91-9879798821
Date :	30.04.2013

LOCATIONS

Registered Office/ Factory 1/ Corporate Office :	B-23, Ambica Nagar Industrial Estate, Near Aapa Hotel, B/H Odhav Fire station, Ambica Nagar, Odhav, Ahmedabad-382410, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9879798821 (Mr. Haresh Patel)
Fax No.:	Not Available
E-Mail :	vk_mondra@rediffmail.com
Website :	http://www.marutimachines.com
Location :	Owned
Factory 2 :	Plot No.95, Road No-8, G.I.D.C, Kathwada, Ahmedabad – 382430, Gujarat, India
Tel. No.:	91-79-64503082/ 29701864/ 22975760
Fax No.:	91-79-22874026
E-Mail :	info@marytimachines.com
Location :	Owned

DIRECTORS

As on : 29.09.2012

Name :

Mr. Haresh Kumar Mdhavjibhai Patel

Designation :

Managing Director

Address :

A 3, Sungold Palce, BH Vidhyanagar High, School, Indian Colony, Bapunagar, Ahmedabad-380024, Gujarat, India

Date of Birth/Age :

25.11.1972

Date of Appointment :

08.04.2013

DIN No.:

02810417

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	U29190GJ2009PTC058560	MARUTI MACHINES PRIVATE LIMITED	Managing director	08-04-13	13-11-09	-	Active	NO
2	U52200GJ2010PTC061469	AQUARIUS EXIM PRIVATE LIMITED	Director	07-07-10	07-07-10	-	Active	NO

Name :

Mrs. Shilpaben Hareshbhai Patel

Designation :

Whole-Time Director

Address :

A 3, Sungold Palce, BH Vidhyanagar High, School, Indian Colony, Bapunagar, Ahmedabad-380024, Gujarat, India

Date of Birth/Age :

14.08.1976

Date of Appointment :

08.04.2013

DIN No.:

03580754

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	U29190GJ2009PTC058560	MARUTI MACHINES PRIVATE LIMITED	Whole-time director	08-04-13	01-09-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Names of Shareholders	No. of Shares
Hareshkumar Patel	45000
Shilpa Haresh Patel	5000
Total	50000

Equity Share Break up (Percentage of Total Equity)

As on : 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Packaging Machinery and Beverages Plant.
Exports :
Products :	Finished Goods
Countries :	· African Countries · Gulf Countries
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	Manufacturer
No. of Employees :	30 (Approximately)
Bankers :	ICICI Bank Limited, Rapunagar, Ahmedabad-382345, Gujarat, India
Facilities :	--

Auditors :
Name :	Mr. Vijay Moondra Chartered Accountants
Address :	201 Sarap Opposite Navjivan Press, Ashram, Road, Ahmedabad-380015, Gujarat, India
PAN No.:	AABFV1724H

CAPITAL STRUCTURE

As on : 29.09.2012

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
50000	Equity Shares	Rs. 10/-each	Rs. 0.500 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		0.500	0.500	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.059	0.417	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.559	0.917	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.030
TOTAL BORROWING		0.000	0.000	0.031
DEFERRED TAX LIABILITIES		0.015	0.018	0.000
TOTAL		1.574	0.935	0.131
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.179	0.127	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.176	17.413	0.000
	Sundry Debtors	3.609	0.827	0.735
	Cash & Bank Balances	4.199	1.754	2.429
	Other Current Assets	0.051	0.008	0.000
	Loans & Advances	6.001	3.090	1.512
Total Current Assets		14.036	23.092	4.676
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.412	3.580	4.255
	Other Current Liabilities	8.911	18.517	0.285
	Provisions	0.318	0.187	0.187
Total Current Liabilities		12.641	22.284	4.727
Net Current Assets		1.395	0.808	(0.051)
MISCELLANEOUS EXPENSES		0.000	0.000	0.107
PROFIT AND LOSS ACCOUNTS		0.000	0.000	0.075
TOTAL		1.574	0.935	0.131

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	43.701	33.984	0.700
		Other Income	1.313	0.222	0.026
		TOTAL	45.014	34.206	0.726
Less	EXPENSES
		TOTAL	44.022	33.498	0.801
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.992	0.708	0.000
Less/ Add	DEPRECIATION/ AMORTISATION		0.051	0.023	0.000
	PROFIT BEFORE TAX		0.941	0.685	(0.075)
Less	TAX		0.298	0.193	0.000
	PROFIT AFTER TAX		0.643	0.492	(0.075)
	EARNINGS IN FOREIGN CURRENCY
		Exports of goods on FOB Basis	17.113	28.194	NA
	TOTAL EARNINGS		17.113	28.195	NA
	IMPORTS
		Raw Materials	3.379	NA	NA
	TOTAL IMPORTS		3.379	NA	NA
	Earnings Per Share (Rs.)		12.86	17.35	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.43	1.44	(10.33)
Net Profit Margin (PBT/Sales)	(%)	2.15	2.02	(10.71)
Return on Total Assets (PBT/Total Assets}	(%)	6.62	2.95	1.60
Return on Investment (ROI) (PBT/Networth)		0.60	0.75	(0.75)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.31
Current Ratio (Current Asset/Current Liability)		1.11	1.04	0.99

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	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	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

FIXED ASSETS :

· Computer

· Cordless Phone

· HP Printer M1005

· Laptop

· Machinery

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. 53.95
UK Pound	1	Rs. 84.03
Euro	1	Rs. 70.72

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.