MIRA INFORM REPORT

Report Date :

17.05.2013

IDENTIFICATION DETAILS

Name :	PARAMOUNT IRON AND STEEL WORKS PRIVATE LIMITED
Registered Office :	55-B, ED Block, Madhuban Chowk, Pitam Pura, Delhi – 110034
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	30.11.1964
Com. Reg. No.:	55-004285
Capital Investment / Paid-up Capital :	Rs. 9.996 Millions
CIN No.: [Company Identification No.]	U74899DL1964PTC004285
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of EPE Foam etc.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 1326000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears a decent profitability year on year. Trade relations are fair. Business is active. Payments are regular. The company can be considered for 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

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. Sunny Gupta
Designation :	Director
Contact No.:	91-9996222999
Date :	17.05.2013

LOCATIONS

Registered Office/ Factory :	55-B, ED Block, Madhuban Chowk, Pitam Pura, Delhi – 110034, India
Tel. No.:	91-11-47060000/ 27318362/ 27313760/ 27314491
Mobile No.:	91-9996222999 [Mr. Sunny Gupta]
Fax No.:	91-11-27311363
E-Mail :	sales@pisw.com sunny@joampe.com insulation@pisw.com
Website :	www.pisw.com
Location :	Owned

DIRECTORS

AS ON 28.09.2012

Name :	Mr. Bhagwan Gupta
Designation :	Director
Address :	E-40, Industrial Area, Sonepat, Haryana, India
Date of Birth/Age :	04.05.1955
Date of Appointment :	12.12.1986
Voter ID No.:	HR/04/41/402164
DIN No.:	00231347
Name :	Mrs. Lalita Gupta
Designation :	Director
Address :	E-40, Industrial Area, Sonepat, Haryana, India
Date of Birth/Age :	29.08.1969
Date of Appointment :	17.01.1997
Voter ID No.:	HR/04/41/402170
DIN No.:	00231496
Name :	Mr. Satya Narain Gupta
Designation :	Director
Address :	E-40, Industrial Area, Sonepat, Haryana, India
Date of Birth/Age :	03.04.1957
Date of Appointment :	11.12.1996
Voter ID No.:	HR/04/41/402166
DIN No.:	00231610
Name :	Mr. Vinod Kumar Gupta
Designation :	Director
Address :	E-40, Industrial Area, Sonepat, Haryana, India
Date of Birth/Age :	30.03.1959
Date of Appointment :	11.12.1996
Voter ID No.:	HR/04/41/402168
DIN No.:	00231667

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
Vinod Gupta	25744
Sri Bhagwan Gupta	19861
Satnaratn Gupta	26697
Burfoo Devi	25
Sushila Gupta	30
Veena Gupta	30
Saroj Gupta	25
Parveen Gupta	25998
Kamal Gupta	400
Pankaj Gupta	400
Sunny Gupta	450
Lalita Gupta	100
Het Ram and Sons	10
Jai Bhagwan and Sons	10
Sri Bhagwan and Sons	10
Sat Naraest and Sons	10
Vinod Kumar and Sons	10
Parveen Gupta and Sons	10
Beena Gupta	10
Manful Gupta	10
Ruchi Gupta	10
Shagun Gupta	20
Ritu Gupta	10
Ajay Gupta (HUF)	10
Vijay Gupta (HUF)	5
Shivam Gupta	10
Meenal Gupta	10
Manjul Gupta (HUF)	10
Nidhi Gupta	10
Shivansh Gupta	10
Pankaj Gupta (HUF)	10
Nisha Gupta	10
Total	99965

AS ON 28.03.2013

Names of Allottees	No. of Shares
Shruti Gupta	10
Sunny Gupta (HUF)	10
Total	20

AS ON 28.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Importer of EPE Foam etc.
Imports :
Products :	Raw Material
Countries :	Ø Middle East Ø Korea Ø USA Ø Thailand
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Actual Production (Oty.)
EPE Sheet	Mtr	31374657.440
EPE Hoses Pipe and Rod	Mtr	4442258.560
EPE Sheet Ariticles	Pcs	9186270.000
Reminates of EPE	Kgs.	410400.407
Air Bubble Sheet	Mtr	4735144.000
Air Bubble Articles	--	1161183.000
Air Bubble Insulation Raflec	--	54184.000

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	200 (Approximately)
Bankers :	Ø State Bank of India, Wazirpur Industrial Area, Delhi - 110052, India Ø ICICI Bank Limited Ø The Jammu and Kashmir Bank

Banking Relations :	--
Auditors :
Name :	Ved Bansal and Company Chartered Accountants
Address :	10, Vashudha Enclave, Pitam Pura, Delhi – 110034, India
Income-tax PAN of auditor or auditor's firm :	AAGPB0852K

CAPITAL STRUCTURE

AFTER 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200,000	Equity Shares	Rs. 100/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
99,985	Equity Shares	Rs. 100/- each	Rs. 9.999 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200,000	Equity Shares	Rs. 100/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
99,965	Equity Shares	Rs. 100/- each	Rs. 9.996 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		9.996	9.996	9.995
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		321.613	247.342	173.652
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		331.609	257.338	183.647
LOAN FUNDS
1] Secured Loans		0.000	0.000	32.893
2] Unsecured Loans		5.328	9.661	3.041
TOTAL BORROWING		5.328	9.661	35.934
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		336.937	266.999	219.581
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		52.798	51.597	47.957
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.118	0.268	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	105.357	89.381	70.735
	Sundry Debtors	119.078	107.322	79.089
	Cash & Bank Balances	53.503	14.831	4.927
	Other Current Assets	58.639	49.741	0.000
	Loans & Advances	0.000	0.000	53.071
Total Current Assets		336.577	261.275	207.822
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.342	2.829	3.692
	Other Current Liabilities	0.000	0.000	8.185
	Provisions	47.214	43.312	24.321
Total Current Liabilities		52.556	46.141	36.198
Net Current Assets		284.021	215.134	171.624
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		336.937	266.999	219.581

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	TOTAL TURNOVER		754.000	744.500	517.500
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	N.A.	N.A.	N.A.
	PROFIT BEFORE TAX		110.800	110.300	71.100
Less	TAX		N.A.	N.A.	N.A.
	PROFIT AFTER TAX		N.A.	N.A.	N.A.

Particulars	31.03.2013
Sales Turnover (Approximately)	800.000

The above information has been parted by Mr. Sunny Gupta [Director]

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	28.46	35.25	27.80
Return on Investment (ROI) (PBT/Networth)		0.33	0.43	0.39
Debt Equity Ratio (Total Debt/Networth)		0.02	0.04	0.20
Current Ratio (Current Asset/Current Liability)		6.40	5.66	5.74

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	Yes
34]	External Agency Rating, if available	No

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Unsecured loans	5.328	9.661
Total	5.328	9.661

FINANCIAL RESULTS

During the year, company has achieved total turnover of Rs 754.000 Millions and earned a net profit of Rs. 110.800 Millions before Income Tax.

FIXED ASSETS:

Ø Land

Ø Buildings

Ø Plant and Machinery

Ø Tube well

Ø Office Equipment

Ø Water Cooler

Ø Vehicles

Ø Computers

Ø Mobile Phones

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. 54.77
UK Pound	1	Rs. 83.31
Euro	1	Rs. 70.46

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.