MIRA INFORM REPORT

Report Date :

13.11.2013

IDENTIFICATION DETAILS

Name :	KUBER INDUSTRIES
Registered Office :	Shop No. 111, Galleriya Shopping Centre, Hiranandani Garden, Powai, Mumbai-400076, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.10.2012
Capital Investment / Paid-up Capital :	Rs. 1.705 Millions
Pan No.:	AAMFK5744P
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Manufacturer [Through Job Work] of Rebar Steel and Coupler.
No. of Employees :	25 [Approximately] On Contract Basis

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Business
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a new partnership concern started in October 2012 and establishing itself gradually. As per the available financials for 6 months ranging from October 2012 – March 2013, there appear a minimal sales turnover recorded by the concern. However, trade relations are improving. Business is active. Payment are reported to be slow but correct. The concern 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the trade deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

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. Shankar Rajput
Designation :	Partner
Contact No.:	91-9821090440
Date :	09.11.2013

LOCATIONS

Registered Office :	Shop No. 111, Galleriya Shopping Centre, Hiranandani Garden, Powai, Mumbai-400076, Maharashtra, India
Tel. No.:	91-22-25704547
Mobile No.:	91-9821090440 [Mr. Shankar Rajput]
Fax No.:	91-22-25704547
E-Mail :	kuber_industries2012@gmail.com

PARTNERS

Name :	Mr. Shankar Dalbahadur Rajput
Designation :	Partner
Date of Birth/Age :	20.01.1976
Qualification :	B. Com
Pan No.:	ADKPR6817K
Name :	Mr. Hedayatullah Shaikh
Designation :	Partner
Date of Birth/Age :	38 Years
Qualification :	SSC

BUSINESS DETAILS

Line of Business :	Manufacturer [Through Job Work] of Rebar Steel and Coupler.
Imports :
Products :	Machinery
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	TT

GENERAL INFORMATION

Customers :	Retailers
No. of Employees :	25 [Approximately] On Contract Basis
Bankers :	IDBI Bank Limited, IDBI Building, Plot No. 39/40/41, Sector 11, CBD Belapur, Navi Mumbai-400614, Maharashtra, India Bank of India, Sakinaka, Mumbai, Maharashtra, India HDFC Bank

Banking Relations :	--
Auditors :
Name :	Karunark Associates Chartered Accountants

CAPITAL STRUCTURE

AS ON 31.03.2013

Capital Investment :
Owned :	Rs. 1.705 Millions
Borrowed :	--
Total :	Rs. 1.705 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2013
SHAREHOLDERS FUNDS
1] Partners Capital		1.705
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		1.705
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.705
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.568
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	2.753
	Cash & Bank Balances	0.032
	Other Current Assets	0.050
	Loans & Advances	0.007
Total Current Assets		2.842
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.502
	Other Current Liabilities	0.203
	Provisions	0.000
Total Current Liabilities		1.705
Net Current Assets		1.137
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.705

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	2.451
		Other Income	0.000
		TOTAL	2.451
Less	EXPENSES
		Purchases	1.336
		Direct Expenses	0.193
		Bank Charges	0.006
		Donation	0.001
		Electricity	0.002
		Interest on Capital	0.061
		Internet Charges	0.002
		Labour Charges	0.004
		Machine Rent	0.075
		Octroi Charges	0.013
		Petrol Expenses	0.044
		Printing and Stationery	0.027
		Registration Charges	0.003
		Remuneration to Partners	0.355
		Repairs and Maintenance	0.001
		Salary	0.200
		Staff Welfare	0.007
		Telephone Charges	0.003
		Testing Charges	0.005
		Toll Charges	0.006
		Vehicles Maintenance	0.021
		TOTAL	2.365
	NET PROFIT / (LOSS)		0.086

Expected Sales (2013-14) : Rs.25.000 Millions.

The above information has been parted by Mr. Shankar Rajput.

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2013
PAT / Total Income	(%)	3.51
Net Profit Margin (PBT/Sales)	(%)	3.51
Return on Total Assets (PBT/Total Assets}	(%)	1.89
Return on Investment (ROI) (PBT/Networth)		0.05
Debt Equity Ratio (Total Debt/Networth)		0.00
Current Ratio (Current Asset/Current Liability)		1.67

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 one year	Yes
12]	Profitability for one year	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
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	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	PAN of Proprietor/Partner/Director, if available	Yes
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

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF TOTAL INCOME

(RS. IN MILLIONS)

PARTICULAR	ASSESSMENT YEAR 2013 – 2014
Income From Profit/Gains of Business/Profession
Income From Business/Profession
Kuber Industries
Net Profit / (Loss)	0.086
Add: Remuneration Paid to Partners	0.355
Add: Interest Paid to Partners	0.060
		0.501
Book Profit Before Remuneration and Interest
Add: Disallowable and / Items Considered Separately
Donations Considered	0.001
		0.001
Less: Allowable Interest		0.060
Book Profit Before Remuneration		0.442
Less: Allowable Remuneration		0.354
GROSS TOTAL INCOME		0.088
Deduction Under Chapter VIA
U/S 80 G Deduction in respect of donation to certain funds, charitable institutes, etc. [50% qualifying donations] Rs.1250	0.001	0.001
TOTAL INCOME		0.087
Tax on Total Income		0.026
Tax Payable Education Cess @ 5%		0.001
Tax Payable + Education Cess		0.027
Less: Tax Deducted at Source U/S 194C	0.010	0.010
		0.017
Add: Interest
U/S 234 B Rs.17300 X 4%	0.001
U/S 234 C (I) Rs.5100 X3 X 1%	0.000
U/S 234 C (II) Rs.10300 X 3 X 1%	0.000
U/S 234 C (III) Rs.17300 X 1 X 1%	0.000	0.001
		0.018
Less: Self-Assessment Tax
02/08/2013 Paid Into: IDBI Bank	0.018
(3910333), Sr. No. 51045	0.000	0.018
Net Tax + Interest Payable		0.000

------------------------------------------------------------------------------------------------------------------------------

OPERATING STATEMENT

(RS. IN MILLIONS)

PARTICULARS	2013-14	2014-15	2015-16
	ESTIMATE	PROJECTION	PROJECTION
Gross Sales
Domestic Sales	16.919	20.457	23.525
Export Sales	0.000	0.000	0.000
Total	16.919	20.457	23.525
Less: Excise Duty/WCT	0.000	0.000	0.000
Net Sales	16.919	20.457	23.525
% age rise (+) or fall (-) in net sales compared to previous year (annualized)	590%	21%	15%
Cost of Sales
a) Raw Materials (including stores)
- Imported	12.005	13.962	16.232
- Indigenous	0.000	0.000	0.000
b) Other Spares
- Imported	0.000	0.000	0.000
- Indigenous	0.000	0.000	0.000
c) Power and Fuel	0.000	0.000	0.000
d) Direct Labour	0.000	0.000	0.000
e) Other manufacturing expenses/ research and development cost	0.000	0.000	0.000
f) Depreciation	0.000	0.000	0.000
Sub-Total	12.005	13.962	16.232
Add: Opening Stock in process	0.000	0.000	0.000
Sub Total	12.005	13.962	16.232
Less: Closing stock in process	0.000	0.000	0.000
Sub-Total (Cost of Production)	12.005	13.962	16.232
Add: Opening Stock of Finished Goods	0.000	0.000	0.000
Subtotal	12.005	13.962	16.232
Less: Closing Stock of Finished Goods	0.000	0.000	0.000
Sub-Total (Cost of Sales)	12.005	13.962	16.232
Selling, general and administrative Expenses	4.185	5.644	6.255
Sub-Total	16.190	19.606	22.487
Operating profit before interest	0.729	0.850	1.038
Interest	0.000	0.000	0.000
Operating profit after interest	0.729	0.850	1.038
Others	0.162	0.246	0.269
Net of other non-operating income/expenses	0.162	0.246	0.269
Profit before tax/Loss	0.891	1.097	1.307
Less: Provision for taxes	0.000	0.000	0.000
Net Profit	0.891	1.097	1.307
Retained Profit	0.891	1.097	1.307
Retained Profit / Net Profit (% age)	100%	100%	100%

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

PARTICULARS	2013-14	2014-15	2015-16
	ESTIMATE	PROJECTION	PROJECTION
CURRENT LIABILITIES
Short – Term borrowings from banks [including bill purchased, discounted and excess borrowings placed on repayment basis]
From applicant Banks	0.000	0.000	0.000
From Other Banks	0.000	0.000	0.000
Sub Total (A)
Short Term Borrowings from others	0.000	0.000	0.000
Sundry creditors [Trade]	1.001	1.536	0.461
Sundry creditors [Expenses]	0.000	0.000	0.000
Advance payments from customers/ deposits from dealers	0.000	0.000	0.000
Provision of taxes	0.000	0.000	0.000
Dividend Payable	0.000	0.000	0.000
Other Statutory Liabilities (Due within one year)	0.000	0.000	0.000
Deposits/ Installments of Term/ loans/DPGs/Debentures etc. (Due within one year)	0.000	0.000	0.000
Other current liabilities and provision (Due within one year)	0.000	0.000	0.000
Sub – Total (B)	1.001	1.536	0.461
Total Current Liabilities	1.001	1.536	0.461
TERM LIABILITIES
Debentures (Not Maturing within one year)	0.000	0.000	0.000
Preferences Shares (Redeemable after one year)	0.000	0.000	0.000
Prop. Term Loan excluding installments < 1 year	0.000	0.000	0.000
Term Loans (Excluding Installment)	1.467	1.097	0.659
Deferred Installment (Due within one year)	0.000	0.000	0.000
Term deposit (repayable one year)	0.000	0.000	0.000
Other Term Liabilities	0.000	0.000	0.000
Total Term Liabilities	1.467	1.097	0.659
Total of Outside Liabilities	1.467	1.097	0.659
Net Worth
Share Capital Account	3.900	6.545	9.633
General Reserve	0.000	0.000	0.000
Shares Premium Account	0.000	0.000	0.000
Plus (+) or deficit (-) in Profit and Loss Account others (Specify)	0.000	0.000	0.000
Differed Tax Liability	0.000	0.000	0.000
Net Worth	3.900	6.545	9.633
TOTAL LIABILITIES	6.368	9.178	10.753
ASSETS
CURRENT ASSETS
Cash and Bank Balance	0.141	0.717	0.769
Fixed deposit with bank	2.662	2.908	3.177
Receivable Other than Exports	1.123	3.469	4.029
Installment of deferred receivable (due within one year)	0.000	0.000	0.000
INVENTORY:
Raw materials (including stores and other item used in the process of manufacturing)
Imported	0.000	0.000	0.000
Indigenous	0.000	0.000	0.000
Stock – in – process	0.000	0.000	0.000
Finished Goods	0.000	0.000	0.000
Other Consumable Spares	0.000	0.000	0.000
Imported Consumables	0.000	0.000	0.000
Indigenous Consumables	0.000	0.000	0.000
Advance to Suppliers of Raw materials and stores and spares	0.000	0.000	0.000
Advances Payments Taxes	0.000	0.000	0.000
Other current assets (specify major items )	0.050	0.050	0.050
TOTAL CURRENT ASSETS	3.975	7.144	8.025
FIXED ASSETS
Gross Block	2.633	2.393	2.034
Depreciation to date	0.240	0.359	0.305
NET BLOCK	2.393	2.034	1.729
Investment/ books debts/ advances/ exposits which are not current assets	0.000	0.000	1.000
Investment in subsidiary company	0.000	0.000	0.000
Others Investment	0.000	0.000	0.000
Others Debtors (6 month)
Security Deposits	0.000	0.000	0.000
Others	0.000	0.000	0.000
TOTAL OTHER NON – CURRENT ASSETS	0.000	0.000	1.000
Intangible assets	0.000	0.000	0.000
TOTAL ASSETS	6.368	9.178	10.754
Tangible Net Worth	3.900	6.545	9.633
Net Working Capital	2.974	5.608	7.564
Current Ratio	3.97	4.65	17.41
Total Outside Liabilities/TNW	0.63	0.40	0.12

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF MPBF

(RS. IN MILLIONS)

WORKING CAPITAL ASSESSMENT	2013-14	2014-15	2015-16
	ESTIMATE	PROJECTION	PROJECTION
Total Current Assets	3.975	7.144	8.025
Other CL [Other than bank borrowing]	1.001	1.536	0.461
WCG	2.974	5.608	7.564
Minimum stipulated NWC [25% of WCG/ 25% of total CA as the case may be]	0.994	1.786	2.006
Actual / Projected NWC	2.974	5.608	7.564
Item 3 minus Item 4	1.981	3.822	5.558
Item 3 minus Item 5	0.000	0.000	0.000
MPBF [Item 6 or 7 whichever is lower]	0.000	0.000	0.000
Excess Borrowing Representing Shortfall in NWC [4-5]	(1.981)	(3.822)	(5.558)

------------------------------------------------------------------------------------------------------------------------------

TURNOVER METHOD

(RS. IN MILLIONS)

WORKING CAPITAL ASSESSMENT	2013-14	2014-15	2015-16
	ESTIMATE	PROJECTION	PROJECTION
Gross Sales	16.919	20.457	23.525
25% of Gross Sales	4.230	5.114	5.881
5% of Gross Sales	0.846	1.023	1.176
Actual / Projected NWC	2.974	5.608	7.564
Item 2 minus Item 3	3.384	4.091	4.705
Item 2 minus Item 4	1.255	(0.494)	(1.682)
Permissible Bank Finance (Item 5 or 6, Whichever is Lower)	1.255	(0.494)	(1.682)

------------------------------------------------------------------------------------------------------------------------------

FINANCIAL POSITION

(RS. IN MILLIONS)

PARTICULAR	ESTIMATE	PROJECTION	PROJECTION
Paid Up Capital:
Equity	3.900	6.545	9.633
Preferences Shares	0.000	0.000	0.000
Tangible Net Worth (Excl. Rev. Reserve and Investment in Cos. Of which associated)	3.900	6.545	9.633
Adjusted TNW	0.000	0.000	0.000
Quasi Capital	0.000	0.000	0.000
Capital Employed* (Total Funds Employed)	5.367	7.642	10.292
Net Block	2.393	2.034	1.729
Net Sales :
Domestic	16.919	20.457	23.525
Exports	0.000	0.000	0.000
TOTAL	16.919	20.457	23.525
Other Income	0.162	0.246	0.269
Depreciation	0.000	0.000	0.000
Gross Profit/Loss	0.729	0.850	1.038
Net Profit/Loss	0.891	1.097	1.307
Cash Accruals	0.891	1.097	1.307
Net Profit/Capital Employed (%)	16.60%	14.35%	12.70%
Current Assets	3.975	7.144	8.025
Current Liabilities	1.001	1.536	0.461
RATIOS:
Current Ratio	3.97	4.65	17.41
Debt/Equity:
Total Term Liability/TNW	0.38	0.17	0.07
Total Outside Liability/TNW	0.63	0.40	0.12
Profitability % PAT/Net Sales	5.27%	5.36%	5.56%
Inventory + Receivables/Sales	6.64%	16.96%	17.13%
Debt Quasi Equity Ratio	0.63	0.40	0.12

------------------------------------------------------------------------------------------------------------------------------

PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2016	31.03.2015
SHAREHOLDERS FUNDS
1] Partners Capital		9.633	6.546
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		9.633	6.546
LOAN FUNDS
1] Secured Loans		0.659	1.097
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.659	1.097
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		10.292	7.643
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.728	2.034
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	4.029	3.469
	Cash & Bank Balances	0.769	0.717
	Other Current Assets	3.227	2.958
	Loans & Advances	1.000	0.000
Total Current Assets		9.025	7.144
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.461	1.535
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.461	1.535
Net Current Assets		8.564	5.609
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		10.292	7.643

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2016	31.03.2015
	SALES
		Income	23.525	20.457
		Other Income	0.269	0.246
		TOTAL	23.794	20.703
Less	EXPENSES
		Purchases	16.232	13.962
		Bank Charges	0.027	0.027
		Donation	0.003	0.003
		Electricity	0.463	0.403
		Interest on Capital	0.785	0.468
		Internet Charges	0.031	0.027
		Interest on Loan	0.102	0.170
		Labour Charges	0.038	0.033
		Machine Rent	0.435	0.396
		Octroi Charges	0.092	0.080
		Petrol Expenses	0.219	0.190
		Printing and Stationery	0.071	0.081
		Registration Charges	0.004	0.003
		Remuneration to Partners	2.500	2.200
		Depreciation	0.305	0.359
		Repairs and Maintenance	0.040	0.035
		Salary	0.903	0.959
		Staff Welfare	0.054	0.047
		Telephone Charges	0.021	0.020
		Testing Charges	0.025	0.024
		Toll Charges	0.026	0.023
		Vehicles Maintenance	0.111	0.096
		TOTAL	22.487	19.606
	NET PROFIT / (LOSS)		1.307	1.097

KEY RATIOS

PARTICULARS		31.03.2016	31.03.2015
PAT / Total Income	(%)	5.49	5.30
Net Profit Margin (PBT/Sales)	(%)	5.55	5.36
Return on Total Assets (PBT/Total Assets}	(%)	12.15	11.95
Return on Investment (ROI) (PBT/Networth)		0.14	0.17
Debt Equity Ratio (Total Debt/Networth)		0.07	0.17
Current Ratio (Current Asset/Current Liability)		19.57	4.65

------------------------------------------------------------------------------------------------------------------------------

PROVISIONAL BALANCE SHEET AS ON 31^ST MARCH 2014

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2014
SHAREHOLDERS FUNDS
1] Partners Capital		3.900
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		3.900
LOAN FUNDS
1] Secured Loans		1.467
2] Unsecured Loans		0.000
TOTAL BORROWING		1.467
DEFERRED TAX LIABILITIES		0.000
TOTAL		5.367
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.393
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	1.123
	Cash & Bank Balances	0.140
	Other Current Assets	2.711
	Loans & Advances	0.000
Total Current Assets		3.974
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.000
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		1.000
Net Current Assets		2.974
MISCELLANEOUS EXPENSES		0.000
TOTAL		5.367

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	16.919
		Other Income	0.162
		TOTAL	17.081
Less	EXPENSES
		Purchases	12.005
		Bank Charges	0.027
		Donation	0.003
		Electricity	0.334
		Interest on Capital	0.205
		Internet Charges	0.022
		Interest on Loan	0.052
		Labour Charges	0.027
		Machine Rent	0.360
		Octroi Charges	0.066
		Petrol Expenses	0.158
		Printing and Stationery	0.086
		Registration Charges	0.006
		Remuneration to Partners	1.600
		Depreciation	0.240
		Repairs and Maintenance	0.029
		Salary	0.794
		Staff Welfare	0.040
		Telephone Charges	0.016
		Testing Charges	0.020
		Toll Charges	0.020
		Vehicles Maintenance	0.081
		TOTAL	16.191
	NET PROFIT / (LOSS)		0.890

KEY RATIOS

PARTICULARS		31.03.2014
PAT / Total Income	(%)	5.21
Net Profit Margin (PBT/Sales)	(%)	5.26
Return on Total Assets (PBT/Total Assets}	(%)	13.97
Return on Investment (ROI) (PBT/Networth)		0.23
Debt Equity Ratio (Total Debt/Networth)		0.37
Current Ratio (Current Asset/Current Liability)		3.97

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STATEMENT OF ASSETS AND LIABILITIES

Name of the Borrower/Co-Borrower/Guarantors

KUBER INDUSTRIES

Address

Geo Tech Industries, Worlikar Compound, Bhandup, Mumbai-400078, Maharashtra, India

Tel. No.

91-22-25704547

Mobile No

91-9821090440

Date of Incorporation

17.10.2012

Occupation

Business

In in Business

Name of the firm	KUBER INDUSTRIES
Address	Lake Road, Bhandup (West), Mumbai, Maharashtra, India
Established Since	17.10.2012
Line of Activity	Manufacturing and Supplying of Rebar Coupler
Experience	1 Year
Position	Firm

Annual Income (As per ITR dated 05.08.2013)

Rs.0.087 Million

Pan No.

AAMFK5744P

BANK ACCOUNT DETAILS

BANK	BRANCH	PRESENT BALANCE (AS ON SEPTEMBER 13)	AVG. BAL IN LAST 6 MONTHS
IDBI Bank	Mulund	0.795 Million	0.200 Million

OTHER MOVABLES

Description	Valuation (Approximately) Rs. In Millions
Threading Machine	0.567

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

Name of the Borrower/Co-Borrower/Guarantors

Shankar Rajput

Nationality

Indian

Father/Husband Name

Dalbahadur Raisingh Rajput

Address

B-803, Kingston Co-operative Housing Society, Hiranandani, Powai, Mumbai, Maharashtra, India

Tel. No.

91-22-25708189

Mobile No

91-9821090440

Date of Birth

20.01.1976

Occupation

Business

In in Business

Name of the firm	KUBER INDUSTRIES
Address	Lake Road, Bhandup (West), Mumbai, Maharashtra, India
Established Since	17.10.2012
Line of Activity	Manufacturing and Supplying of Rebar Coupler
Experience	1 Year
Position	Partner

Annual Income (As per ITR dated 05.08.2013)

Rs.0.990 Million

Pan No.

ADKPR6811K

BANK ACCOUNT DETAILS

BANK	BRANCH	SB/CA/CC/OD A/C NO.	PRESENT BALANCE	AVG. BAL IN LAST 6 MONTHS
HDFC Bank	Chandivali	14711930001656	0.015 Million	0.100 Million

IMMOVABLE PROPERTY

RS. IN MILLIONS

ASSETS	OWN/JOINT NAME	AREA (SQ. FT.)	LOCATION/ADDRESS	PURCHASE COST	PRESENT VALUE	WHETHER ENCUMBERED
Non Agri Land
Flat / House No.	905	900	Powai	2.525	150	PNB Mortgage Loan and Housing Loan
Flat / House No	704	370	Chandivali	0.548	55	IDBI Housing Loan

MOVABLE PROPERTY

INSURANCE POLICIES

RS. IN MILLIONS

Name of Company and Policy No.	Sum Assured
LIC	20.000

VEHICLES

RS. IN MILLIONS

Type of Vehicle	Registration No.	Model	Year of Make	Cost at the Time of Purchase	Present Value
Car	MH03AZ3664	2011	2011	0.630	3.5

OTHER MOVABLES

DESCRIPTION	VALUATION (APPROXIMATELY)
Jewellery	0.325 Million

OTHER INVESTMENT IN BUSINESS

NAME OF THE FIRM	AMOUNT OF INVESTMENT	AS PER BALANCE SHEET DATED
Kuber Industries	0.855	31.03.2013

DETAILS OF LIABILITIES

RS. IN MILLION

Name of the Bank	Purpose of Loan	Amount of Loan	Security	Repayment Terms	Outstanding Balance
PNB	Housing Loan	3.000	Flat	Monthly	302.272
PNB	Mortgage Loan	3.400	Flat	Monthly	317.356
IDBI	Housing Loan	0.450	Flat	Monthly	17.825
HDFC	Car Loan	0.450	Car	Monthly	292.280

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

Name of the Borrower/Co-Borrower/Guarantors

Mohd. Hedayatullah Shaikh

Nationality

Indian

Father/Husband Name

Shamshuddin Shaikh

Address

Gala No. 06, MS Compound Church, Bhandup, Mumbai, Maharashtra, India

Mobile No

91-9892369122

Date of Birth

15.08.1975

Occupation

Business

In in Business

Name of the firm	Sadaf Engineering Company
Established Since	2003
Line of Activity	Engineering
Experience	10 Years
Position	Proprietor

Annual Income (As per ITR dated 05.08.2013)

Rs.0.819 Million

Pan No.

BOXPS9528H

IMMOVABLE PROPERTY

RS. IN MILLIONS

ASSETS	PURCHASE COST	PRESENT VALUE
Flat / House	1.200	3.500

OTHER MOVABLES

RS. IN MILLIONS

Description	Valuation (Approximately)
Furniture	0.018
Machinery	0.630

OTHER INVESTMENT IN BUSINESS

RS. IN MILLIONS

NAME OF THE FIRM	AMOUNT OF INVESTMENT	AS PER BALANCE SHEET DATED
Kuber Industries	0.855	31.03.2013
Sadaf Engineering Company	0.967	31.03.2013

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.63.59
UK Pound	1	Rs.101.55
Euro	1	Rs.85.15

INFORMATION DETAILS

Information Gathered by :	HNA
Report Prepared by :	TPT

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.