MIRA INFORM REPORT

Report Date :

22.10.2013

Tel. No.:	91-22-26165031/26162032/26400791/26512936
Fax No.:	91-22-26437955/26165032

IDENTIFICATION DETAILS

Name :	OMIRA MARKETING PRIVATE LIMITED
Registered Office :	3 Marian Terrace, 68, Chapel Road, Bandra (West), Mumbai-400050, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	12.07.1993
Com. Reg. No.:	11-072785
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U51900MH1993PTC072785
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer and Importer of Machine Tools.
No. of Employees :	45 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 108000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a well established company having a satisfactory track record. Trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

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. Ashok
Designation :	Commercial Manager
Contact No.:	91-9322026609
Date :	19.10.2013

LOCATIONS

Registered Office :	3 Marian Terrace, 68, Chapel Road, Bandra (West), Mumbai-400050, Maharashtra, India
Tel. No.:	91-22-26400791
Mobile No.:	91-9322026609 [Mr. Ashok]
Fax No.:	Not Available
E-Mail :	sales@omira.co.in skarnani@omira.co.in ashokkunder@omira.co.in
Website :	http://www.omira.co.in
Corporate Office :	701/702, 7^th Floor, Eastern Court, C Wing, Junction of Tejpal Road and Parleshwar Road, Vile Parle (East), Mumbai-400057, Maharashtra, India
Tel. No.:	91-22-26165031/26162032/26400791/26512936
Fax No.:	91-22-26437955/26165032

DIRECTORS

AS ON 30.09.2012

Name :

Oswyn Theodore Miranda

Designation :

Managing Director

Address :

42, Colombia Co-operative Housing Society, St. Dominic Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

09.11.1937

Date of Appointment :

12.07.1993

Din No.:

00480026

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	U51900MH1993PTC072785	OMIRA MARKETING PRIVATE LIMITED	Managing director	12/07/1993	12/07/1993	Active	NO
2	U51500MH2004PTC146308	MOTS REALTORS & TRADING PRIVATE LIMITED	Managing director	14/05/2004	14/05/2004	Active	NO
3	U29253MH2010PTC201301	SHW MACHINE TOOLS (INDIA) PRIVATE LIMITED	Additional director	23/08/2012	23/08/2012	Active	NO

Name :

Myra Linda Miranda

Designation :

Director

Address :

42, Colombia Co-operative Housing Society, St. Dominic Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

03.04.1941

Date of Appointment :

12.07.1993

Din No.:

00479980

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	U51900MH1993PTC072785	OMIRA MARKETING PRIVATE LIMITED	Director	12/07/1993	12/07/1993	Active	NO
2	U51500MH2004PTC146308	MOTS REALTORS & TRADING PRIVATE LIMITED	Director	14/05/2004	14/05/2004	Active	NO

Name :

Terrence Ivan Miranda

Designation :

Director

Address :

42, Colombia Co-operative Housing Society, St. Dominic Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

14.09.1974

Date of Appointment :

12.01.1994

Din No.:

00443071

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	U51900MH1993PTC072785	OMIRA MARKETING PRIVATE LIMITED	Director	12/01/1994	12/01/1994	-	Active	NO
2	U51500MH2004PTC146308	MOTS REALTORS & TRADING PRIVATE LIMITED	Director	14/05/2004	14/05/2004	-	Active	NO
3	U51109MH2009PTC193555	HAAS AUTOMATION INDIA PRIVATE LIMITED	Managing director	14/10/2010	16/11/2009	-	Active	NO
4	U29253MH2010PTC201301	SHW MACHINE TOOLS (INDIA) PRIVATE LIMITED	Director	05/12/2011	13/12/2010	28/08/2012	Active	NO
5	U29253MH2009PTC193656	PRECISION HONING SOLUTIONS PRIVATE LIMITED	Director	20/01/2012	20/01/2012	-	Active	NO

Name :

Mr. Shubhra Terrence Miranda

Designation :

Director

Address :

42, Colombia Co-operative Housing Society, St. Dominic Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

27.04.1975

Date of Appointment :

16.06.2003

Din No.:

00443035

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	U51900MH1993PTC072785	OMIRA MARKETING PRIVATE LIMITED	Director	16/06/2003	16/06/2003	Active	NO
2	U51500MH2004PTC146308	MOTS REALTORS & TRADING PRIVATE LIMITED	Director	14/05/2004	14/05/2004	Active	NO
3	U29253MH2009PTC193656	PRECISION HONING SOLUTIONS PRIVATE LIMITED	Nominee director	30/06/2009	30/06/2009	Active	NO
4	U29253MH2010PTC201301	SHW MACHINE TOOLS (INDIA) PRIVATE LIMITED	Director	25/03/2010	25/03/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Ashok
Designation :	Commercial Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Oswyn Theodore Miranda	2500
Myra Linda Miranda	2500
Terrence Ivan Miranda	2500
Shubhra Terrence Miranda	2500
TOTAL	10000

AS ON 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Dealer and Importer of Machine Tools.
Imports :
Products :	Machine Tools
Countries :	· Germany · Taiwan · China · USA
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

45 [Approximately]

Bankers :

Bank of India, 44, R.N. Marg Branch, Bandra (West), Mumbai-400050, Maharashtra, India

Facilities :

Long Term Borrowings	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings	0.469	0.637
TOTAL	0.469	0.637
Short Term Borrowings	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Short Term Borrowings	22.500	0.000
TOTAL	22.500	0.000

Banking Relations :	--
Auditors :
Name :	S.M. Lasrado and Company Chartered Accountants
Address :	Silver Symphony, 1^st Floor, 37, Church Avenue, Santacruz (West), Mumbai-400054, Maharashtra, India
Tel. No.:	91-22-26054108/ 1441/ 2015 91-22-26054162 [Residential]
Fax No.:	91-22-26052501
Website :	www.smlasrado.com
PAN No:	AAAPL5821E
Subsidiaries :	Precision Honing Solutions Private Limited [U29253MH2009PTC193656]

CAPITAL STRUCTURE

AS ON 31.03.2012

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	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	27.107	25.844
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	27.207	25.944
(3) Non-Current Liabilities
(a) long-term borrowings	0.469	0.637
(b) Deferred tax liabilities (Net)	0.059	0.013
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.528	0.650
(4) Current Liabilities
(a) Short term borrowings	22.500	0.000
(b) Trade payables	4.903	2.921
(c) Other current liabilities	24.723	15.548
(d) Short-term provisions	1.156	1.594
Total Current Liabilities (4)	53.282	20.063
TOTAL	81.017	46.657
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.790	2.125
(ii) Intangible Assets	4.019	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.130	0.080
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	2.022	4.772
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	9.961	6.977
(2) Current assets
(a) Current investments	1.500	1.500
(b) Inventories	5.604	0.315
(c) Trade receivables	26.552	20.009
(d) Cash and cash equivalents	28.400	10.762
(e) Short-term loans and advances	6.265	4.194
(f) Other current assets	2.735	2.900
Total Current Assets	71.056	39.680
TOTAL	81.017	46.657

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		24.633
4] (Accumulated Losses)		0.000
NETWORTH		24.733
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.994
TOTAL BORROWING		0.994
DEFERRED TAX LIABILITIES		0.000
TOTAL		25.727
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.249
Capital work-in-progress		0.000
INVESTMENT		0.810
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	17.007
	Cash & Bank Balances	10.771
	Other Current Assets	0.000
	Loans & Advances	10.127
Total Current Assets		37.905
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.667
	Other Current Liabilities	10.627
	Provisions	2.943
Total Current Liabilities		15.237
Net Current Assets		22.668
MISCELLANEOUS EXPENSES		0.000
TOTAL		25.727

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Turnover	51.600	36.200	44.600
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		3.590	2.307	3.186
Less/ Add	DEPRECIATION/ AMORTISATION		1.612	0.531	0.570
	PROFIT / (LOSS) BEFORE TAX		1.978	1.776	2.616
Less	TAX		0.615	0.566	0.958
	PROFIT / (LOSS) AFTER TAX		1.363	1.210	1.658
Less	TAX RELATING TO EARLIER YEARS		0.099	(0.001)	0.042
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		25.679	24.468	22.852
	BALANCE CARRIED TO THE B/S		26.943	25.679	24.468
	Earnings / (Loss) Per Share (Rs.)		136.30	121.00	165.80

Particulars	31.03.2013
Sales Turnover [Approximately]	40.000 [Due to market fluctuation]

Expected Sales (2013-14) : Rs.60.000 Millions.

The above information has been parted by Mr. Ashok.

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	2.47	3.81	6.51
Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.11
Debt Equity Ratio (Total Debt/Networth)		0.84	0.02	0.04
Current Ratio (Current Asset/Current Liability)		1.33	1.97	2.49

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%	Yes
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	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]	PAN of Proprietor/Partner/Director, if available	No
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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10364712	01/06/2012	2,000,000.00	BANK OF INDIA	44, R.N. MARG BRANCH, BANDRA WEST, MUMBAI - 400050, MAHARASHTRA, INDIA	B43285170

OPERATIONS:

The company has recorded a turnover of Rs.51.600 Millions (Previous Year Rs.36.200 Millions). The company has achieved these results mainly due to the efforts of the management along with the staff. The company hopes to do better in the coming year.

FIXED ASSETS:

· Computer

· Fax Machine

· Furniture and Fixtures

· Office Equipments

· Water Cooler

· Motor Car

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.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.