MIRA INFORM REPORT

Report Date :

31.05.2013

IDENTIFICATION DETAILS

Name :	INTELMAC MACHINE TOOLS PRIVATE LIMITED
Registered Office :	B2, Siddarth Apartments Katraj, Pune-411046, Maharashtra
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	22.04.2004
Com. Reg. No.:	11-019175
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U29299PN2004PTC019175
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of CNC Machine.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a part of “Group Intelmac”. It has a moderate track record. The management of the company have failed to file the financials with the government department after 2009. Mr. Tipale, accounts manager has denied to disclose any details of the subject to us. As per the old (2009), the company is found normal for business dealings. The status of the company appears to be active in the registrar of companies. Payments terms are unknown. The company can be considered for business dealings on a safe and secured 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 DENIED BY

Name :	Mr. Tipale
Designation :	Accounts Manager

LOCATIONS

Registered Office :	B2, Siddarth Apartments Katraj, Pune-411046, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	chandrashekharmani@yahoo.co.in subhash@inteltekindia.com
Website :	http://www.intelmacindia.com
Corporate Office :	S.No.100/5, Ambegaon, Pune-411046, Maharashtra, India
Tel. No.:	91-20-39392200/32529245
Fax No.:	91-20-39392124
E-Mail :	intelmac@intelmacindia.com
Branches :	Located at : · Delhi · Chennai · Ahmedabad · Bengaluru · Mumbai · Coimbatore

DIRECTORS

As on : 30.09.2012

Name :

Mr. Ashok Vasant Sondur

Designation :

Director

Address :

A3/46, Gajalaxmi Housing Society, Sahakar Nagar, Pune – 411009, Maharashtra, India

Date of Birth/Age :

25.04.1953

Date of Appointment :

22.04.2004

DIN No.:

00332867

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	U29221PN1998PTC012749	FAGOR AUTOMATION INDIA PRIVATE LIMITED	Director	31-07-98	31-07-98	-	Active	YES
2	U29299PN1999PTC013503	INTELTEK AUTOMATION PRIVATE LIMITED	Managing director	05-04-99	05-04-99	-	Dormant	NO
3	U29299PN2004PTC019175	INTELMAC MACHINE TOOLS PRIVATE LIMITED	Director	22-04-04	22-04-04	-	Active	YES
4	U29299PN2004PTC019671	INTELLIGENT MOTION TECHNOLOGY PRIVATE LIMITED	Director	24-08-04	24-08-04	-	Active	YES
5	U29299PN2006PTC128806	GROUP INTELMAC TECHNOLOGY AND MANAGEMENT PRIVATE LIMITED	Director	26-07-06	26-07-06	-	Active	YES
6	U29299PN2006PTC128808	PESCHEL CONTROLS AND AUTOMATION PRIVATE LIMITED	Director	27-07-06	27-07-06	-	Active	YES
7	U29212PN2012PTC143596	PERNA CANE HARVESTERS PRIVATE LIMITED	Nominee director	05-06-12	05-06-12	-	Active	NO
8	AAA-6075	INDIGATE STRATEGIC CONSULTING LLP	Designated Partner	30-08-11	30-08-11	-	Active	NO
9	AAA-7370	SOCCO NOA AUTOMATION COMPONENTS LLP	Body corporate as Designated Partner	21-12-11	21-12-11	- Bottom of Form

Name :

Mr. Puthucode Vishwanathan Ananthnarayan

Designation :

Director

Address :

404 / Ketki, DSK Raanwara Bhavdan, Pune – 411021, Maharashtra, India

Date of Birth/Age :

09.03.1952

Date of Appointment :

22.04.2004

DIN No.:

02490221

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	U29221PN1998PTC012749	FAGOR AUTOMATION INDIA PRIVATE LIMITED	Director	31-07-98	31-07-98	-	Active	YES
2	U29299PN1999PTC013503	INTELTEK AUTOMATION PRIVATE LIMITED	Director	05-04-99	05-04-99	-	Dormant	NO
3	U29299PN2004PTC019175	INTELMAC MACHINE TOOLS PRIVATE LIMITED	Director	22-04-04	22-04-04	-	Active	YES
4	U29299PN2004PTC019671	INTELLIGENT MOTION TECHNOLOGY PRIVATE LIMITED	Director	24-08-04	24-08-04	-	Active	YES
5	U29299PN2006PTC128806	GROUP INTELMAC TECHNOLOGY AND MANAGEMENT PRIVATE LIMITED	Director	26-07-06	26-07-06	-	Active	YES
6	U29299PN2006PTC128808	PESCHEL CONTROLS AND AUTOMATION PRIVATE LIMITED	Director	27-07-06	27-07-06	-	Active	YES

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2012

Names of Shareholders	No. of Shares
Ashok Sondur	2000
Puthucode Vishwanathan Ananthnarayan	2000
Sarala Vasant Sondur	6000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of CNC Machine.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India

· Standard Chartered Bank

Facilities :

Rs in Millions

SECURED LOAN	31.03.2009	31.03.2008
Car Loan (Secured against hypothecation of Car)	0.434	0.706
ICICI property Loan	2.742	2.823
Standard Chartered Bank	0.782	1.442
ICICI Loan – Pune Flat	3.846	3.986
Total	7.804	8.957

Auditors :
Name :	Yeravdekar and Ranade Chartered Accountants
Address :	96/16, Navi Peth, Rajendra Nagar, Near Sachin Tendulkar Jogging Track, Pune – 411030, Maharashtra, India
PAN No.:	AAAFY0772F

CAPITAL STRUCTURE

As on : 30.09.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.780	1.562	2.005
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.880	1.662	2.105
LOAN FUNDS
1] Secured Loans		7.804	8.957	6.188
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		7.804	8.957	6.188
DEFERRED TAX LIABILITIES		0.420	1.835	0.111
TOTAL		15.104	12.454	8.404
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.401	6.693	2.026
Capital work-in-progress		6.401	5.198	3.755
INVESTMENT		2.240	2.240	2.129
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	3.960	6.953	6.925
	Cash & Bank Balances	15.115	3.311	0.791
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.644	5.395	3.859
Total Current Assets		31.719	15.659	11.575
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.257	11.058	3.692
	Other Current Liabilities	13.807	4.548	6.879
	Provisions	3.593	1.742	0.522
Total Current Liabilities		33.657	17.348	11.093
Net Current Assets		(1.938)	(1.689)	0.482
PRELIMINARY EXPENSES		0.000	0.012	0.012
TOTAL		15.104	12.454	8.404

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	69.934	42.454	28.082
		Other Income	0.601	0.106	0.089
		TOTAL	70.535	42.560	28.171
Less	EXPENSES
		Operating and Other Expenses	38.622	28.833	17.736
		Payments and Provisions for Employees	24.374	10.787	8.719
		TOTAL	62.996	39.620	26.455
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		7.539	2.940	1.716
Less/ Add	DEPRECIATION/ AMORTISATION		0.427	0.366	0.225
	PROFIT BEFORE TAX		7.112	2.574	1.491
Less	TAX		1.894	3.017	0.197
	PROFIT AFTER TAX		5.218	(0.443)	1.294
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.562	2.005	0.711
	BALANCE CARRIED TO THE B/S		6.780	1.562	2.005
	Earnings Per Share (Rs.)		521.77	NA	13.00

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	7.40	(1.04)	4.59
Net Profit Margin (PBT/Sales)	(%)	10.17	6.06	5.31
Return on Total Assets (PBT/Total Assets}	(%)	17.73	11.52	10.96
Return on Investment (ROI) (PBT/Networth)		1.03	1.55	0.71
Debt Equity Ratio (Total Debt /Networth)		1.13	5.39	2.94
Current Ratio (Current Asset/Current Liability)		0.94	0.90	1.04

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
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	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

FIXED ASSETS :

Computer

Office Equipment

Vehicles

Furniture and Fixtures

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. 56.10
UK Pound	1	Rs. 85.13
Euro	1	Rs. 72.80

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	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		16

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.