MIRA INFORM REPORT

Report Date :

08.05.2013

IDENTIFICATION DETAILS

Name :	QUALITY ELECTROWIRE INDUSTRIES PRIVATE LIMITED
Registered Office :	G-1060, DSIDC, Industrial Area, Narela Complex, Narela, New Delhi-110040
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	22.10.2007
Com. Reg. No.:	169683
Capital Investment / Paid-up Capital :	Rs.6.092 Millions
CIN No.: [Company Identification No.]	U31908DL2007PTC169683
TIN No.:	07270339678
CST Number.:	07270339678
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of All Types of Wires and Cable.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 311000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears some dip in the turnover of the company during 2012 with the sharp dip in its profitability also. However, trade relations are reported as fair. Business is active. Payment terms are 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 – 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.

LOCATIONS

Registered Office :	G-1060, DSIDC, Industrial Area, Narela Complex, Narela, New Delhi-110040, India
Tel. No.:	91-11-47528697
Mobile No.:	91-9810017400 [Mr. Deepak]
Fax No.:	Not Available
E-Mail :	camahajan.s.co@gmail.com

DIRECTORS

AS ON 29.09.2012

Name :

Rukmani Devi

Designation :

Director

Address :

D-3/2A, Rana Pratap Bagh, New Delhi-110007, India

Date of Birth/Age :

02.06.1953

Date of Appointment :

21.02.2008

Din No.:

02064374

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	U31908DL2007PTC169683	QUALITY ELECTROWIRE INDUSTRIES PRIVATE LIMITED	Director	30/09/2009	21/02/2008	Active	NO

Name :

Ms. Renu Jindal

Designation :

Director

Address :

D-4/2, Rana Pratap Bagh, New Delhi-110007, India

Date of Birth/Age :

19.02.1980

Date of Appointment :

27.04.2010

Din No.:

03045553

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	U31908DL2007PTC169683	QUALITY ELECTROWIRE INDUSTRIES PRIVATE LIMITED	Director	25/08/2010	27/04/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

NOTE:

SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	61.20
Directors or relatives of directors	38.80
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of All Types of Wires and Cable.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Punjab National Bank, Sector 7, Rohini, New Delhi-110085, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Punjab National Bank Car Loan	0.686	0.810
Punjab National Bank (Term loan against hypothecation of machinery)	1.037	12.089
From Bank (Secured against hypothecation of stock and book debts)	86.961	74.823
HDFC (Car Loan)
Tata Capital Limited	1.320	0.205
Punjab National Bank CC	0.097	1.892
TOTAL	90.101	89.819

Banking Relations :	--
Auditors :
Name :	Mahajan S. and Company Chartered Accountants
Address :	319, Aggarwal Modern Bazar, C-33, Lawrence Road, Industrial Area, New Delhi-110035, India
Tel. No.:	91-11-47096986
Mobile No.:	91-9811530495
PAN No:	AAUFM5612N
Related Parties :	Delight Industries

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
609200	Equity Shares	Rs.10/- each	Rs.6.092 Millions

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		6.092	5.602	5.002
2] Share Application Money		1.500	2.000	10.900
3] Reserves & Surplus		70.363	63.667	52.570
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		77.955	71.269	68.472
LOAN FUNDS
1] Secured Loans		90.101	89.819	67.850
2] Unsecured Loans		10.240	10.347	1.205
TOTAL BORROWING		100.341	100.166	69.055
DEFERRED TAX LIABILITIES		3.227	2.767	2.010
TOTAL		181.523	174.202	139.537
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		39.575	39.763	35.033
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	98.925	71.039	51.980
	Sundry Debtors	111.604	136.954	79.757
	Cash & Bank Balances	0.770	1.066	1.556
	Other Current Assets	0.096	0.112	0.000
	Loans & Advances	19.427	17.583	16.436
Total Current Assets		230.822	226.754	149.729
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	76.569	88.021	40.023
	Other Current Liabilities	11.645	2.964	3.926
	Provisions	0.660	1.330	1.404
Total Current Liabilities		88.874	92.315	45.353
Net Current Assets		141.948	134.439	104.376
MISCELLANEOUS EXPENSES		0.000	0.000	0.128
TOTAL		181.523	174.202	139.537

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	368.851	417.987	438.391
		Other Income	0.016	0.039	NA
		TOTAL (A)	368.867	418.026	NA
Less	EXPENSES
		Cost of materials consumed	349.405	370.945
		Excise duty related to the differences between closing stock and opening stock	2.744	0.000	NA
		Employee benefits expenses	6.283	4.071
		Operation and other expenses	17.660	22.097
		Extraordinary items	0.000	(1.046)
		Changes in inventories of finished goods, work in progress and stock in trade	(27.886)	0.000
		TOTAL (B)	348.206	396.067	NA
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		20.661	21.959
Less	FINANCIAL EXPENSES (D)		15.726	12.732
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4.935	9.227	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.470	1.442
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		3.465	7.785	7.072
Less	TAX (H)		1.180	2.087	1.405
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		2.285	5.698	5.667
	Earnings / (Loss) Per Share (Rs.)		3.75	10.17	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.62	1.36	NA
Net Profit Margin (PBT/Sales)	(%)	0.94	1.86	1.61
Return on Total Assets (PBT/Total Assets}	(%)	1.28	2.92	3.83
Return on Investment (ROI) (PBT/Networth)		0.04	0.11	0.10
Debt Equity Ratio (Total Debt/Networth)		1.29	1.41	1.00
Current Ratio (Current Asset/Current Liability)		2.60	2.45	3.30

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	No
10]	Designation of contact person	No
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
From directors and their relatives	0.000	0.306
Intercorporates	10.240	10.041
TOTAL	10.240	10.347

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U31908DL2007PTC169683
Name of the company	QUALITY ELECTROWIRE INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	G-1060, DSIDC, Industrial Area, Narela Complex, Narela, New Delhi-110040, India
Type of charge	Movable Property [not being pledge]
Particular of charge holder	Punjab National Bank, Sector 7, Rohini, New Delhi-110085, India Email: rsg@icai.org
Nature of description of the instrument creating or modifying the charge	Loan Agreement dated 15/02/2013
Date of instrument Creating the charge	15.02.2013
Amount secured by the charge	Rs.4.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 14.25% Terms of Repayment 60 monthly installments of Rs. 0.099 million each Margin As per Loan Agreement Extent and Operation of the charge 100%
Short particulars of the property charged	Audi Q5 premium car purchased from the loan amount

FIXED ASSETS:

• Land
• Building
• Motor Cycle
• Office Equipments
• Plant and Machinery
• Computer
• Car
• Fixture and Furniture
• Weighing Scale

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.54.27
UK Pound	1	Rs.71.00
Euro	1	Rs.84.32

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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.