MIRA INFORM REPORT

Report Date :

28.11.2013

IDENTIFICATION DETAILS

Name :	PREMUR IMPEX LIMITED
Registered Office :	10, Burnt Salt Gola Lane, 1^st Floor, Howrah – 711 101, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	28.07.1994
Com. Reg. No.:	21-064175
Capital Investment / Paid-up Capital :	Rs.0.511 Million
CIN No.: [Company Identification No.]	U26919WB1994PLC064175
TAN No.: [Tax Deduction & Collection Account No.]	CALP08255C
PAN No.: [Permanent Account No.]	AABCP7702Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Compacting, Briquetting, Crushing, Pulverising, Mixing, Machine etc.
No. of Employees :	6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 6000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management has failed to file its financial of 2013 with government department. As per of 2012, profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 (GENERAL DETAILS)

Name :	Mr. P. Banergee
Designation :	Accounts Manager
Contact No.:	91-9830516715
Date :	25.11.2013

LOCATIONS

Registered Office :	10, Burnt Salt Gola Lane, 1^st Floor, Howrah – 711 101, West Bengal, India
Tel. No.:	91-33-26768330 / 26660850
Fax No.:	91-33-26660850
E-Mail :	premurimpex@rediffmai.com contact@premurimpes.com ddaskamaluddin@gmail.com
Website :	http://www.premurimpex.com/
Area :	400 Sq. ft
Location :	Owned
Factory :	Village Monber, Dankuni Police Station, District Howrah, West Bengal, India
Area :	2000 Sq. ft
Location :	Rented

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Bishnu Chakraborty

Designation :

Director

Address :

3^rd Floor, Flat No.304, 149, Benaras Road, Howrah – 711106, West Bengal, India

Date of Birth/Age :

02.08.1972

Date of Appointment :

28.07.1994

DIN No.:

01766258

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	Company/ LLP Status	Defaulting status
1	U26919WB1994PLC064175	PREMUR IMPEX LIMITED	Director	28/07/1994	28/07/1994	Active	NO
2	U29253WB2011PTC167363	PREMUR MACHINERIES PRIVATE LIMITED	Director	09/09/2011	09/09/2011	Active	NO

Name :

Mrs. Sonali Chakraborty

Designation :

Director

Address :

3^rd Floor, Flat No.304, 149, Benaras Road, Howrah – 711106, West Bengal, India

Date of Birth/Age :

20.10.1978

Date of Appointment :

09.10.1998

DIN No.:

01884778

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	Company/ LLP Status	Defaulting status
1	U26919WB1994PLC064175	PREMUR IMPEX LIMITED	Director	09/10/1998	09/10/1998	Active	NO
2	U29253WB2011PTC167363	PREMUR MACHINERIES PRIVATE LIMITED	Director	09/09/2011	09/09/2011	Active	NO

Name :

Mili Bhattacharya

Designation :

Director

Date of Appointment :

20.09.2011

DIN No.:

03634901

KEY EXECUTIVES

Name :	Mr. P. Banerjee
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Bishnu Chakraborty	4000
Pradip Kumar Chatterjee	400
Dibya Sing Biswal	596
Amaresh Pal	851
Tuhin Kumar Chakraborty	1
Nakul Chandra Maity	1
Alok Dasgupta	1201
Subol Mondal	100
Bhola Nath Dey	100
Hardeb Banerjee	100
Debnath Mukherjee	300
Chandan Sadhukhan	1100
Dilip Banerjee	3000
Samar Sarkhel	100
Hemanta Kumar Ghosh	50
Dudh Kumar paul	50
Satya Ranjan Khatua	2050
Minati Chakraborty	1000
Sonali Chakraborty	900
Anup Chakraborty	2700
Rama Chakraborty	300
Partha Banerjee	3700
Swapan Bhattacharya	3000
Mili Bhattacharya	3000
Tapan Bhattacharya	3000
Sourav Bhattacharya	2000
Pradip Roy	2000
Maheshwar Mahato	2000
Rupali Banerjee	2500
Kanchan Khatua	2000
Tapas Mazumdar	2000
Anjali Mazumdar	2000
Swapna Mazumdar	3000
Sumita Chaudhary	2000
Total	51100

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	90.00
Others	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Compacting, Briquetting, Crushing, Pulverising, Mixing, Machine etc.
Products :	· Mechanical/ Hydraulic Briquetting Press · Jaw/Roll/Hammer Crushers · Air-Swept Hammer/Roller Pulverisers · Vibrating/ Rotary Screens · Vibrating/ Reciprocating/ Belt / Screw Feeders · Unbalanced Vibro Motors · Belt/Screw Conveyors and Bucket Elevators · Duplex Diaphargam Jig · Paddle/Ribbon/Muller Mixer · Rotary Dryer.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· The Indian Express Limited

· New Allenbery Works

· Infomedia India Limited

· Infocom Network Limited

· Electro Mech India

· Asha Electricals

· Maji Industries

· M.K. Steel Centre

· Sri Ramakrishna Industries

· Sri Ramakrishna Engineering

· Sai Digital Advertisement Media

· Rockwell Corporation

· K.D. Steel Corporation

Customers :

· Wholesalers and End Users

· Adhunik Metalinks Limited

· Andhra Ferro Alloys Limited

· Facor Alloys Limited

· Indian Metal Ferro Alloys Limited

· Indian Metal and Ferro Alloys Limited

· Managilal Rungta

· Masscorp Limited

· Modern Indian Concast Limited

· Nava Bharat

· Pilcon Engineers

· Rohit Fero Tech Limited

· Shyamdri Power Limited

· Rohit Fero Tech Limited, Jaipur

· Sri Vasavi Industries Limited

· Surya Alloy Industries Limited

· Tirumala Balaji Alloys (Private) Limited

· T.S. Alloys Limited

No. of Employees :

6 (Approximately)

Bankers :

· ICICI Bank, Howrah Branch, Howrah, West Bengal, India

· Standard Chartered Bank

· Axis Bank, Howrah Branch, Howrah, West Bengal, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term loan
Koatal Mahindra Prime Limited	0.278	0.454
Standard Chartered Bank	2.400	0.000
Total	2.678	0.454

Banking Relations :	--
Auditors :
Name :	D Das and Kamaluddin Chartered Accountants
Address :	81/2/7, Pheras Lane, 2nd Floor, Room No-2/1, Kolkata – 700012, West Bengal, India
Tel. No.:	91-33-22360488/ 32952875
Fax No.:	91-33-40078145
E-Mail :	ddaskamaluddin@gmail.com
Income-tax PAN of auditor or auditor's firm :	AADFD5845R

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs. 10/- each	Rs. 1.500 Millions
100000	Preference Shares	Rs. 10/- each	Rs. 1.000 Million
	Total		Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
47016	Equity Shares fully called	Rs. 10/- each	Rs. 0.470 Million
4084	Equity Shares issued and paid up other than Cash	Rs. 10/- each	Rs. 0.041 Million
	Total		Rs. 0.511 Million

Shareholder’s holding more than 5% shares of the company

Name of shareholders	No. of shares	% of shareholding
Bishnu Chakraborty	10852	21.24
Sonali Chakraborty	7696	15.06
Rama Chakraborty	3300	6.46
Partha Banerjee	3700	7.24
Swapan Bhattacharya	3000	5.87
Mili Bhattacharya	9002	17.62
Tapan Bhattacharya	3000	5.87

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		0.511	0.511	0.511
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.011	1.201	0.706
4] (Accumulated Losses)		0.000	0.000	(0.004)
NETWORTH		1.522	1.712	1.213
LOAN FUNDS
1] Secured Loans		2.678	0.454	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2.678	0.454	0.000
DEFERRED TAX LIABILITIES		0.000	0.018	0.001
TOTAL		4.200	2.184	1.214
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.881	2.497	0.193
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		2.375	0.000	0.140
DEFERRED TAX ASSETS		0.045	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.836	0.950	0.515
	Sundry Debtors	2.700	1.193	6.594
	Cash & Bank Balances	1.130	1.396	3.620
	Other Current Assets	7.400	7.244	0.000
	Loans & Advances	0.276	0.191	1.913
Total Current Assets		13.342	10.974	12.642
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.139	7.759	5.600
	Other Current Liabilities	9.304	3.215	5.799
	Provisions	0.000	0.313	0.362
Total Current Liabilities		12.443	11.287	11.761
Net Current Assets		0.899	(0.313)	0.881
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.200	2.184	1.214

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	30.047	38.517	24.303
		Other Income	1.117	0.000	0.106
		TOTAL (A)	31.164	38.517	24.409
Less	EXPENSES
		Cost of material consumed	22.417	29.605	18.802
		Employee benefit Expenses	2.094	1.664	0.954
		Other Expenses	5.487	6.183	4.283
		TOTAL (B)	29.998	37.452	24.039
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.166	1.065	0.370
Less	FINANCIAL EXPENSES (D)		0.206	0.026	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.960	1.039	0.370
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.410	0.316	0.045
	PROFIT BEFORE TAX (E-F) (G)		0.550	0.723	0.325
Less	TAX (H)		0.175	0.229	0.101
	PROFIT AFTER TAX (G-H) (I)		0.375	0.494	0.224
	Earnings Per Share (Rs.)		7.35	9.67	4.39

Expected Sales (2012-2013): Rs. 30.000 Millions

The above information has been parted by Mr. P. Banerjee (Accounts Manager)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.20	1.28	0.92
Net Profit Margin (PBT/Sales)	(%)	1.83	1.88	1.34
Return on Total Assets (PBT/Total Assets}	(%)	3.87	5.37	2.53
Return on Investment (ROI) (PBT/Networth)		0.36	0.42	0.27
Debt Equity Ratio (Total Liability/Networth)		9.93	6.86	9.70
Current Ratio (Current Asset/Current Liability)		1.07	0.97	1.07

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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

NOTE: Registered office address of the company has been shifted from 44/45, Kings Road, District Howrah – 711101, West Bengal, India to the present address.

TRADE REFERENCES:

· Rohit Ferro-Tech Limited

· K.D. Steel Corporation

FIXED ASSETS

· Computer

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Fax

· Vehicles

· Electrical Installation

· Factory Shed

· Battery and Inverter

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.62.36
UK Pound	1	Rs.101.11
Euro	1	Rs.84.68

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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		29

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.