MIRA INFORM REPORT

Report Date :

22.05.2013

IDENTIFICATION DETAILS

Name :	WALLS AND BRIDGES (INDIA) PRIVATE LIMITED
Registered Office :	C - 60, A.P.I.E, Balanagar, Hyderabad – 500037, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.02.2009
Com. Reg. No.:	01-062912
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U45400AP2009PTC062912
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of Civil Engineering.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 34000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company recorded modest scale of business operation. Profit margin seems to be low. The external borrowing appears to be huge. However, trade relations are reported to be fair. Business is active. Payments are reported to be 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 :	C - 60, A.P.I.E, Balanagar, Hyderabad – 500037, Andhra Pradesh, India
Tel. No.:	91-40-42410162
Fax No.:	91-40-23771007
E-Mail :	info@wbipl.com
Corporate Office :	Plot No. 60 and 61 A, Road No.10 and 5, Jubilee Hills, Co-operative House Building Society Limited, Hyderabad – 500033, Andhra Pradesh, India
Tel. No.:	91-40-23122233/ 44

DIRECTORS

As on: 29.09.2012

Name :

Mr. Laitaditya Koppala

Designation :

Director

Address :

8-2-598/ A/5, Road No. 10, Banjarahills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

12.12.1978

Date of Appointment :

27.02.2009

DIN No.:

00337787

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	U22100AP1981PTC003029	SECUNDERABAD PRINTED CARTONS PRIVATE LIMITED	Director	01/11/2003	01/11/2003	-	Active	NO
2	U22130AP2006PTC050616	MAPLE MATRIX MEDIA PRIVATE LIMITED	Director	13/07/2006	13/07/2006	-	Active	YES
3	U74900AP2009PTC062655	BRAND BOUTIQUE MEDIA (INDIA)PRIVATE LIMITED	Director	31/01/2009	31/01/2009	-	Active	NO
4	U45400AP2009PTC062912	WALLS AND BRIDGES (INDIA) PRIVATE LIMITED	Director	27/02/2009	27/02/2009	-	Active	NO
5	U24301AP2013PTC086121	SPC LABS PRIVATE LIMITED	Director	06/03/2013	06/03/2013	-	Active	NO
6	U85110AP2008PTC057772	NANO HOSPITALS PRIVATE LIMITED	Additional director	18/03/2013	18/03/2013	-	Active	NO

Name :

Mr. Dhanunjay Nallapureddy

Designation :

Director

Address :

Yaramalapalli, Veerapunayanipalli, Kadapa – 516321, Andhra Pradesh, India

Date of Birth/Age :

01.07.1973

Date of Appointment :

27.02.2009

DIN No.:

02541156

Name :

Mr. Pilli Murthy Krishna

Designation :

Director

Address :

H.No. MIG - 1183, BHEL, MIG Colony, R.C.Puram, Hyderabad - 502032, Andhra Pradesh, India

Date of Birth/Age :

25.11.1978

Date of Appointment :

01.02.2011

DIN No.:

03422616

Name :

Mr. Sreedhar Vanta

Designation :

Director

Address :

Flat No. 203, Manju Enclave, Near Sarada High School, Kondapur, Hyderabad, Andhra Pradesh, India

Date of Birth/Age :

05.07.1973

Date of Appointment :

01.02.2011

DIN No.:

03445434

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	U45400AP2009PTC062912	WALLS AND BRIDGES (INDIA) PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
2	U45400AP2012PTC084832	WBI ENGINEERING PRIVATE LIMITED	Director	14/12/2012	14/12/2012	-	Active	NO

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Laitaditya Koppala	15000
Dhanunjay Nallapureddy	15000
Pilli Murthy Krishna	10000
Sreedhar Vanta	10000
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 :

Subject is engaged in the business of Civil Engineering.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Term Loan	0.676	3.182
Total	0.676	3.182
Terms and Conditions : Out of which Construction Equipment loan of Rs. 0.047 Million from HDFC bank, Secured by Equipment whose EMI is Rs. 0.024 Million repayable on 20th of every month with 12% pa rate of Interest Out of which Construction Equipment loan of Rs. 0.095 Million from HDFC bank, Secured by Equipment whose EMI is Rs. 0.048 Million repayable on 20th of every month with 12% pa rate of Interest Out of which Construction Equipment loan of Rs. 0.124 Million from HDFC bank, Secured by Equipment whose EMI is Rs. 0.063 Million repayable on 20th of every month with 12% pa rate of Interest Out of which Construction Equipment loan of Rs. 0.075 Million from HDFC bank, Secured by Equipment whose EMI is Rs. 0.038 Million repayable on 20th of every month with 8% pa rate of Interest Out of which Construction Equipment loan of Rs. 0.093 Million from HDFC bank, Secured by Equipment whose EMI is Rs. 0.047 Million repayable on 20th of every month with 10% pa rate of Interest Out of which Auto Loan of Rs. 0.208 Million from HDFC bank, Secured by Vehicle whose EMI is Rs. 0.010 Million repayable on 7th of every month with 10.5% pa rate of Interest Out of which Two Wheeler Loans of Rs. 0.034 Million from HDFC bank, Secured by Vehicle whose EMI is Rs. 0.003 Million repayable on 5th of every month with 13.5% pa rate of Interest

Banking Relations :	--
Auditors :
Name :	Narasimham V.V.V.L. and Company Chartered Accountants
Address :	Flat No. 301, DNO. 11-4-646/ B2, Trendset Hill Top Apartment, AC Guards, Hyderabad – 500004, Andhra Pradesh, India
PAN No.:	AAEFN0491N

CAPITAL STRUCTURE

As on: 31.03.2012

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	0.500
2] Share Application Money		6.486	4.486	0.970
3] Reserves & Surplus		1.574	0.949	0.000
4] (Accumulated Losses)		0.000	0.000	0.539
NETWORTH		8.560	5.935	2.009
LOAN FUNDS
1] Secured Loans		0.676	3.182	0.458
2] Unsecured Loans		5.861	8.763	0.236
TOTAL BORROWING		6.537	11.945	0.694
DEFERRED TAX LIABILITIES		0.000	0.041	0.017
TOTAL		15.097	17.921	2.720
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.664	9.277	0.755
Capital work-in-progress		0.073	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	7.553	5.583	0.000
	Sundry Debtors	0.517	0.372	1.228
	Cash & Bank Balances	2.126	0.169	2.358
	Other Current Assets	1.024	0.000	0.000
	Loans & Advances	4.569	11.586	0.586
Total Current Assets		15.789	17.709	4.172
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.424	2.060	0.349
	Other Current Liabilities	6.005	7.006	1.539
	Provisions	0.000	0.000	0.319
Total Current Liabilities		8.429	9.066	2.207
Net Current Assets		7.360	8.643	1.965
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		15.097	17.921	2.720

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
SALES
	Income	NA	49.519	13.207
	Other Income
	TOTAL	NA	49.419	13.207
EXPENSES
	Office Expenses	NA	48.920	12.426
	Administrative Expenses
	Advertising Expenses
	TOTAL	NA	48.920	12.426
PROFIT BEFORE TAX		NA	0.599	0.781
TAX		NA	0.166	0.225
PROFIT AFTER TAX		0.626	0.410	0.539
Earnings Per Share (Rs.)		12.52	8.20	10.78

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	0.83	4.08
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.22	15.85
Return on Investment (ROI) (PBT/Networth)		NA	0.10	0.39
Debt Equity Ratio (Total Debt /Networth)		0.76	2.01	0.35
Current Ratio (Current Asset/Current Liability)		1.87	1.95	1.89

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 two 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	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	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Other Loans
Mudit Gupta	0.500	0.500
Rama Krishna Rao	1.500	1.500
Loan From Related Parties
Lalitaditya	1.018	0.000
Dharma Rao	0.610	0.000
SHORT TERM BORROWINGS
Other Loans and Advances
Advances Received from Customers	1.475	6.713
Sree Devi	0.250	0.050
Loans and Advances From Related Parties
Krishna Murthy	0.191	0.000
Sreedhar. V	0.317	0.000
Total	5.861	8.763

FIXED ASSETS:

· Motor Vehicles

· Plant and Machinery

· Generator and Water Motor

· Furniture

· Construction Equipment

· Office Equipment

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.55.04
UK Pound	1	Rs.83.95
Euro	1	Rs.70.93

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.