MIRA INFORM REPORT

Report Date :

19.10.2013

IDENTIFICATION DETAILS

Name :	SERVODAY COPPER ALLOYS LIMITED (w.e.f.22.02.2008)
Formerly Known As :	SERVODAY COPPER ALLOYS PRIVATE LIMITED (w.e.f. 08.01.2008) SERVODAY PLANTS AND EQUIPMENTS PRIVATE LIMITED
Registered Office :	21, Centre Point, Indira Gandhi Marg, Jamnagar-361008, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.03.1994
Com. Reg. No.:	04-021559
Capital Investment / Paid-up Capital :	Rs.0.500 million
CIN No.: [Company Identification No.]	U21219GJ1994PLC021559
TAN No.: [Tax Deduction & Collection Account No.]	RKTS02362D
PAN No.: [Permanent Account No.]	AACCS9875J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Oil Refining, Solvent Extraction Plant, Oil Mill, etc.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 53000
Status :	Small Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Management has failed to file latest financials of 2012. As per the available financials, the financial position of the company appears to be unhealthy. Trade relations are however, reported as fair. Business is active. Payment terms are Unknown. The company can be considered for small to mediocre 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 – 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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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. Sanjaykumar Ishwarlal Masuria
Designation :	Director
Contact No.:	91-288-2751588
Date :	21.10.2013

LOCATIONS

Registered Office :	21, Centre Point, Indira Gandhi Marg, Jamnagar-361008, Gujarat, India
Tel. No.:	91-288-2751588/ 2751688/ 2751988/ 2555867
Fax No.:	91288-2751388
E-Mail :	rowork.ac@gmail.com servoday@sify.com
Website :	http://www.servoday.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Ishwarlal Ramji Munsudiya

Designation :

Director

Address :

Parmeshwar, 2 Cricket Bungalow, Jamnagar – 361001, Gujarat, India

Date of Appointment :

16.03.1994

DIN No.:

01763491

Name :

Mr. Kiritkumar Ishwarlal Masuria

Designation :

Director

Address :

Parmeshwar, 2 Cricket Bungalow, Jamnagar – 361001, Gujarat, India

Date of Appointment :

16.03.1994

DIN No.:

01763516

Name :

Mr. Sanjaykumar Ishwarlal Masuria

Designation :

Director

Address :

Parmeshwar, 2 Cricket Bungalow, Jamnagar – 361001, Gujarat, India

Date of Appointment :

25.02.2002

DIN No.:

01763567

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	U21219GJ1994PLC021559	SERVODAY COPPER ALLOYS LIMITED	Director	25/02/2002	25/02/2002	-	Active	NO
2	U27105GJ2012PTC071846	SWISS ALLOYS PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO

Name :

Mr. Shailesh Ishwarlal Masuria

Designation :

Director

Address :

Parmeshwar Cricket Bung, Road No. 02, Jamnagar-361001, Gujarat, India

Date of Birth/Age :

13.10.1967

Date of Appointment :

09.02.2008

DIN No.:

01984726

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	U21219GJ1994PLC021559	SERVODAY COPPER ALLOYS LIMITED	Director	09/02/2008	09/02/2008	-	Active	NO
2	U27105GJ2012PTC071846	SWISS ALLOYS PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO

Name :

Mr. Rajesh Sharma

Designation :

Director

Address :

M/S-Shree-Extrusion-Limited, Plot-No 217/218 GIDC-Phase-II Near, Dared, Jamnagar-361005, Gujarat, India

Date of Birth/Age :

05,09.1970

Date of Appointment :

09.02.2008

DIN No.:

01986622

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	U21219GJ1994PLC021559	SERVODAY COPPER ALLOYS LIMITED	Director	09/02/2008	09/02/2008	-	Active	NO
2	U27105GJ2012PTC071846	SWISS ALLOYS PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ishwarbhai R Masuria	20000
Ashaben S Masuria	10000
Kiritbhai I Masuria	10000
Sanjay I Masuria	4800
Divyaben K Masuria	50
Yogeshbhai I Masuria	5000
Shalieshbhai I Masuria	50
Shantaben I Maruria	50
Jagrutiben S Masuria	50
Total	50000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Oil Refining, Solvent Extraction Plant, Oil Mill, etc.
Products :	· Oil Refinery · Solvent Extraction Plant · Oil Mill · Storage Tank · Heavy Steel Structures · Weld Mesh Plant · Nail Making Machinery · Wire Drawing Line · Straightening Machine · Garbage Handling
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	Wholesalers and Retailers
No. of Employees :	50 (Approximately)
Bankers :	· Central Bank of India · State Bank of Saurashtra

Banking Relations :	--
Auditors :
Name :	Chetan Agarwal and Company Chartered Accountants
Address :	601/602, Swagat Commercial Complex, Beside Income Tax, P N Marg, Jamnagar- 361008, Gujarat
Mobile No.:	91-9099038121/30
E-Mail :	chetan_fca@yahoo.com
PAN No.:	ADEPA9280H

CAPITAL STRUCTURE

As on 31.03.2011

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		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500	0.500
2] Share Application Money		12.638	12.638	13.614
3] Reserves & Surplus		0.253	0.216	0.218
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		13.391	13.354	14.332
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.032	0.749
TOTAL BORROWING		0.000	0.032	0.749
DEFERRED TAX LIABILITIES		0.020	0.026	0.026
TOTAL		13.411	13.412	15.107
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.855	4.914	5.001
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.012	0.012	1.406
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.526	7.200	7.201
	Sundry Debtors	4.303	3.441	1.463
	Cash & Bank Balances	0.127	0.182	0.859
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.065	2.379	4.873
Total Current Assets		13.021	13.202	14.396
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.074	0.211	0.113
	Other Current Liabilities	4.393	4.367	5.351
	Provisions	0.010	0.138	0.232
Total Current Liabilities		4.477	4.716	5.696
Net Current Assets		8.544	8.486	8.700
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		13.411	13.412	15.107

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	11.139	1.021	1.332
		Other Income	0.000	0.000	0.044
		TOTAL (A)	11.139	1.021	1.376
Less	EXPENSES
		Direct Expenses	10.372	0.064	0.143
		Administrative Expenses	0.952	0.867	1.284
		Increase/ (Decrease) in Stock	(0.325)	0.000	(0.142)
		TOTAL (B)	10.999	0.931	1.285
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.140	0.090	0.091
Less	FINANCIAL EXPENSES (D)		0.000	0.005	0.011
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.140	0.085	0.080
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.077	0.087	0.098
	PROFIT BEFORE TAX (E-F) (G)		0.063	(0.002)	(0.018)
Less	TAX (I)		0.026	0.000	0.000
	PROFIT AFTER TAX (G-I) (J)		0.037	(0.002)	(0.018)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.216	0.218	0.236
	BALANCE CARRIED TO THE B/S		0.253	0.216	0.218
	Earnings Per Share (Rs.)		0.74	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.33	(0.20)	(1.31)
Net Profit Margin (PBT/Sales)	(%)	0.57	(0.20)	(1.35)
Return on Total Assets (PBT/Total Assets}	(%)	0.35	(0.01)	(0.09)
Return on Investment (ROI) (PBT/Net worth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.05
Current Ratio (Current Asset/Current Liability)		2.91	2.80	2.53

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)	No
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	No
34]	External Agency Rating, if available	No

Note:

The registered office of the company has been shifted from 17, Centre Point, Indira Gandhi Marg, Jamnagar-361008, Gujarat, India to present address

UNSECURED LOAN

Particular	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
From Directors, Shareholder and Relatives	0.000	0.032
Total	0.000	0.032

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

· Computer

· Air Conditioner

· Battery

· Printer

· Machinery

· Books

· Generator

· Mobile Instrument

· Car

· Office

· Land

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.61.28
UK Pound	1	Rs.99.03
Euro	1	Rs.83.80

INFORMATION DETAILS

Information Gathered by :	NAY
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.