MIRA INFORM REPORT

Report Date :

11.04.2013

IDENTIFICATION DETAILS

Name :	HOMDEC LIGHTING (INDIA) PRIVATE LIMITED (w.e.f. 07.11.2005)
Formerly Known As :	HOM SHINE LIGHTING (INDIA) PRIVATE LIMITED
Registered Office :	B – 269, Ashok Nagar, Mandoli Road, Shahdara, Delhi – 110093
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.04.1997
Com. Reg. No.:	55-086488
Capital Investment / Paid-up Capital :	Rs. 1.392 Millions
CIN No.: [Company Identification No.]	U31501DL1997PTC086488
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Lighting Fixtures Foils.
No. of Employees :	50 (Approximately)

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 13000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The Management have failed to file its latest financial with the government department. As per previous year’s, the subject seems to be small company. However, trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealing with great 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.

INFORMATION PARTED BY

Name :	Mr. Nitendra Chauhan
Designation :	Sales Executive
Contact No.:	91-9650168889
Date :	09.05.2013

LOCATIONS

Registered Office :	B – 269, Ashok Nagar, Mandoli Road, Shahdara, Delhi – 110093, India
Tel. No.:	Not Available
Mobile :	91-9650168889 (Mr. Nitendra)
Fax No.:	Not Available
E-Mail :	info@homedeclighting.com sanjeev_jayaswal@yahoo.co.in
Website:	www.homedeclighting.com
Location :	Owned
Factory :	56/34-35, Site IV, Industrial Area, Sahibabad – 201301, Uttar Pradesh, India
Tel. No.:	91-120-6486068
Fax No.:	91-120-2896104
Location :	Owned

DIRECTORS

As on : 30.09.2011

Name :	Mr. Budh Prakash Arora
Designation :	Director
Address :	A – 69, Rampuri, Ghaziabad, Uttar Pradesh, India
Date of Birth/Age :	15.07.1947
Date of Appointment :	07.04.1997
DIN No.:	00220727
Name :	Mrs. Usha Arora
Designation :	Director
Address :	A – 69, Rampuri, Ghaziabad, Uttar Pradesh, India
Date of Birth/Age :	01.02.1951
Date of Appointment :	07.04.1997
DIN No.:	00222357
Name :	Ms. Preeti Arora
Designation :	Director
Address :	A – 69, Rampuri, Ghaziabad, Uttar Pradesh, India
Date of Birth/Age :	13.09.1982
Date of Appointment :	21.11.2002
DIN No.:	00222185

KEY EXECUTIVES

Name :	Mr. Anand
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2011

Names of Shareholders	No. of Shares
Budh Prakash Arora	126600
Usha Arora	3100
Preeti Arora	3500
Neeraj Arora	2000
Ruchika Arora	4000
TOTAL	139200

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Lighting Fixtures Foils.
Products :	Bulkheads Pole Lights Step Lights Foot Lights Foot Lights Wall Lights Bollard Brackets Decorative Lighting Poles Garden Lights Ceiling Lights Hanging Lights Walkover Lights Outdoor Spot Lights Steel Tubular Poles Cast Iron Poles
Exports :
Products :	Lighting Fixtures Foils
Countries :	· Nepal · Asian Countries
Terms :
Selling :	L/C , Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers

No. of Employees :

50 (Approximately)

Bankers :

State Bank of India, Rudrapur Branch, Indira Chowk, Udham Singh Nagar -263153, Uttarakhand, India

Facilities :

Rs in Millions

SECURED LOAN	31.03.2011	31.03.2010
HDFC Bank Limited for	0.000	0.054
HDFC Bank Limited	0.841	0.000
SBI Cash Credit A/C against Stock	0.688	5.227
Total	1.529	5.281

Auditors :
Name :	Jayaswal Associates Chartered Accountant
Address :	A – 160, 2^nd Floor, Vikas Marg, Shahkarpur, Delhi – 110092, India
Tel. No.:	91-11-22412550
Mobile No.:	91-9810771510
PAN No.:	AADPJ4040N
Sister Concern :	Cost Light Industries

CAPITAL STRUCTURE

As on : 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.10/- each	Rs. 4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
139200	Equity Shares	Rs.10/- each	Rs. 1.392 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.392	1.392	1.392
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.044	0.667	0.567
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.436	2.059	1.959
LOAN FUNDS
1] Secured Loans		1.529	5.281	5.226
2] Unsecured Loans		2.160	2.458	2.983
TOTAL BORROWING		3.689	7.739	8.209
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.125	9.798	10.168
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.342	2.631	2.893
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.031	0.028	0.023
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.412	7.003	5.701
	Sundry Debtors	1.940	3.057	1.916
	Cash & Bank Balances	0.097	0.108	0.029
	Other Current Assets	0.212	0.165	0.001
	Loans & Advances	0.041	0.057	1.210
Total Current Assets		8.702	10.390	8.857
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.119	2.554	0.328
	Other Current Liabilities	0.453	0.632	1.166
	Provisions	0.378	0.065	0.111
Total Current Liabilities		2.950	3.251	1.605
Net Current Assets		5.752	7.139	7.252
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.125	9.798	10.168

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	26.131	16.978	20.403
		Other Income
		TOTAL	26.131	16.978	20.403
Less	EXPENSES
		Office Expenses	24.378	16.818	20.225
		Administrative Expenses
		Advertising Expenses
		TOTAL	24.378	16.818	20.225
	PROFIT BEFORE TAX		1.753	0.160	0.178
Less	TAX		0.376	0.060	0.090
	PROFIT AFTER TAX		1.377	0.100	0.088
	Earnings Per Share (Rs.)		9.89	0.72	0.63

Particulars	31.03.2013	31.03.2012
Sales Turnover (Approximately)	26.000	25.000

Expected Sales (2013-2014) Rs. 27.000 Millions

The above information has been parted by Mr. Nitendra Chauhan (Sales Executive)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.27	0.59	0.43
Return on Total Assets (PBT/Total Assets}	(%)	17.40	1.23	0.75
Return on Investment (ROI) (PBT/Networth)		0.51	0.08	0.09
Debt Equity Ratio (Total Liability/Networth)		1.93	5.34	5.01
Current Ratio (Current Asset/Current Liability)		2.95	3.20	5.52

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 two 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	Yes
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	No
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 Address of the company has been shifted from 10058 Lane 3H, West Gorakh Park, Shahdara, Delhi – 110032, India to the present address w.e.f. 07.04.2006.

FIXED ASSETS

• Industrial Plot
• Factory Building
• Plant and Machinery
• Dies and Tools
• Generator
• Electrical Installation
• Furniture
• Office Equipments
• Weight and Measures
• Fire – Extinguisher
• Computer
• Dust Collector
• Motor Car
• Lab Equipments

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 records 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. 54.24
UK Pound	1	Rs. 84.30
Euro	1	Rs. 71.36

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NIS

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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.