MIRA INFORM REPORT

Report Date :

10.12.2014

IDENTIFICATION DETAILS

Name :	MAHAVIR TRANSMISSION UDYOG PRIVATE LIMITED
Formerly Known As :	FARZ TIME TRADING PRIVATE LIMITED (w.e.f. 05.02.1998) CLASS TIME TRADING PRIVATE LIMITED
Registered Office :	4510 - 12, 7/33, Ansari Road, Darya Ganj, New Delhi – 110002
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.12.1995
Com. Reg. No.:	55-074746
Capital Investment / Paid-up Capital :	Rs. 35.755 Millions
CIN No.: [Company Identification No.]	U74899DL1995PTC074746
TAN No.: [Tax Deduction & Collection Account No.]	DELM13477C
PAN No.: [Permanent Account No.]	AAACF2079H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Aluminium Conductor, LT Power Cable and DPC Aluminium and Copper Wires.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating = B
Rating Explanation	Have moderate degree of default and carries very high credit risk.
Date	8^th October, 2014

Rating Agency Name	CRISIL
Rating	Short term rating = A4
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	8^th October, 2014

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Akshat Jain
Designation :	Director
Contact No.:	91-9810105293
Date :	04.12.2014

LOCATIONS

Registered Office / Factory :	4510 - 12, 7/33, Ansari Road, Darya Ganj, New Delhi – 110002, India
Tel. No.:	91-11-23280242/23279424/23279468 / 23254175 / 23280242
Mobile No.:	91-9810105293 (Mr. Akshat Jain) 91-9899388308 (Mr. Abhinav Jain)
Fax No.:	91.11-23279424
E-Mail :	jainandsanjay@gmail.com info@mahavirtransmission.com
Website :	www.mahavirtransmission.com

DIRECTORS

AS ON 30.09.2014

Name :

Mrs. Shabnam Jain

Designation :

Director

Address :

7/33, Ansari Road, Darya Ganj, New Delhi – 110002, India

Date of Birth/Age :

01.04.1963

Date of Appointment :

14.07.2002

DIN No.:

00288110

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	U74899DL1995PTC074746	MAHAVIR TRANSMISSION UDYOG PRIVATE LIMITED	Director	14/07/2002	14/07/2002	-	Active	NO
2	U36911DL1997PTC085854	SHREE KRISHNA METALS AND MINERALS PRIVATE LIMITED	Director	27/08/2002	27/08/2002	-	Strike off	NO

Name :

Mr. Rakesh Jain

Designation :

Director

Address :

7/33, Ansari Road, Darya Ganj, New Delhi – 110002, India

Date of Birth/Age :

27.06.1962

Date of Appointment :

27.01.2004

DIN No.:

00288206

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	U31300OR1989PTC005724	RISHABH ELECTRICALS PRIVATE LIMITED	Director	11/05/1996	11/05/1996	-	Active	NO
2	U74899DL1995PTC074746	MAHAVIR TRANSMISSION UDYOG PRIVATE LIMITED	Director	27/01/2004	27/01/2004	-	Active	NO
3	U27204DL1997PTC086047	AADI INDIA PRIVATE LIMITED	Director	31/01/2007	31/01/2007	-	Active	NO

Name :

Mr. Abhinav Jain

Designation :

Director

Address :

7/33, Ansari Road, Darya Ganj, New Delhi – 110002, India

Date of Birth/Age :

21.01.1987

Date of Appointment :

30.09.2010

DIN No.:

03113618

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	U74899DL1995PTC074746	MAHAVIR TRANSMISSION UDYOG PRIVATE LIMITED	Director	30/09/2010	01/06/2010	-	Active	NO
2	U31300OR1989PTC005724	RISHABH ELECTRICALS PRIVATE LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
3	U27204DL1997PTC086047	AADI INDIA PRIVATE LIMITED	Additional director	15/01/2013	15/01/2013	-	Active	NO

Name :

Mr. Akshat Jain

Designation :

Director

Address :

7/33, Ansari Road, Darya Ganj, New Delhi – 110002, India

Date of Birth/Age :

23.03.1988

Date of Appointment :

30.09.2010

DIN No.:

03113630

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	U74899DL1995PTC074746	MAHAVIR TRANSMISSION UDYOG PRIVATE LIMITED	Director	30/09/2010	01/06/2010	-	Active	NO

Name :

Anil Chandra Jain

Designation :

Director

Address :

A-9, Preet Vihar, New Delhi – 110002, India

Date of Birth/Age :

22.10.1951

Date of Appointment :

25.10.2013

DIN No.:

01223867

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	U27204DL1997PTC086047	AADI INDIA PRIVATE LIMITED	Director	19/06/1999	19/06/1999	12/11/2007	Active	NO
2	U74899DL1995PTC074746	MAHAVIR TRANSMISSION UDYOG PRIVATE LIMITED	Director	25/10/2013	25/10/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Rakesh Jain HUF	1017500
Mrs. Shabnam Jain	2195990
Mr. Rakesh Jain	134010
Mr. Akshat Jain	68000
Mr. Anil Chandra Jain	20000
Mr. Abhinav Jain	90000
Mrs. Savitri Jain	40000
Mr. Mayank Jain	10000
Total	3575500

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Aluminium Conductor, LT Power Cable and DPC Aluminium and Copper Wires.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

End Users

GOVERNMENT CLIENTS:

• Uttar Pradesh Power Transmission Corporation Limited, Lucknow (UPPCL)
• Rajasthan Rajya Vidyut Prasaran Nigam Limited, Jaipur (RRVPNL)
• Jaipur Vidyut Vitran Nigam Limited, Jaipur (JVVNL)
• Ajmer Vidyut Vitran Nigam Limited, Ajmer (AVVNL)
• Himachal Pradesh State Electricity Board, Shimla (HPSEB)

PRIVATE CLIENTS:

• ABB Limited
• L&T Limited
• A2Z Maintainance and Engineering Services (P) Limited
• Vijay electrical Limited
• Genus Power Infrastructure Limited

No. of Employees :

80 (Approximately)

Bankers :

• Allahabad Bank, Nehru Colony, Dehradun, Uttarakhand - 248001, India
• Standard Chartered Bank
• Dhanlakshrni Bank Limited
• Deutsche Bank Limited

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
From Tata Capital Limited [Secured against car-repayable in 60 equal installments, carrying interest @ 11.75% commencing from 03.03.2012. Rs.0.191 Million- due within 12 months have been grouped "under current maturities.	0.452	0.651
SHORT TERM BORROWINGS
Rupee term loans from bank [Secured against Factory Land and building, Plant and Machinery Including stock and book debts and personal guarantee of directors. The loan is repayable on demand and carries interest -@12.90%.]	38.109	9.889
Loans repayable on demand [Secured against Factory Land and building, Plant and Machinery Including stock and book debts and personal guarantee of directors.]	90.131	99.279
Total	128.692	109.819

Banking Relations :	--
Financial Institution :	Tata Capital Limited Magma Fincop Limited
Auditors :
Name :	R Jain and Sanjay Associates Chartered Accountants
Address :	1378/21, 1^st Floor, Naiwala, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-28753348 / 45542683
PAN No.:	AAAFR3730L
Memberships :	Not Available
Collaborators :	Not Available
Enterprises owned or significantly influenced by key management personnel	a) Rishabh Electricals Private Limited b) Aadi India Private Limited c) Sara Global

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3650000	Equity Shares	Rs.10/- each	Rs.36.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3575500	Equity Shares	Rs.10/- each	Rs.35.755 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	35.755	35.755	35.755
(b) Reserves & Surplus	13.025	12.428	11.790
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	48.780	48.183	47.545
(3) Non-Current Liabilities
(a) long-term borrowings	1.899	3.938	8.906
(b) Deferred tax liabilities (Net)	3.101	3.372	2.959
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.874	0.455	0.264
Total Non-current Liabilities (3)	5.874	7.765	12.129
(4) Current Liabilities
(a) Short term borrowings	147.167	110.808	100.065
(b) Trade payables	113.467	152.233	160.022
(c) Other current liabilities	86.566	12.672	34.335
(d) Short-term provisions	4.320	2.022	1.978
Total Current Liabilities (4)	351.520	277.735	296.400
TOTAL	406.174	333.683	356.074
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	34.044	35.469	37.350
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.869	12.942	6.633
(e) Other Non-current assets	1.227	6.036	0.000
Total Non-Current Assets	43.140	54.447	43.983
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	120.162	103.848	96.828
(c) Trade receivables	217.619	166.582	189.217
(d) Cash and cash equivalents	14.437	6.114	16.174
(e) Short-term loans and advances	10.067	1.855	9.371
(f) Other current assets	0.749	0.837	0.501
Total Current Assets	363.034	279.236	312.091
TOTAL	406.174	333.683	356.074

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	NA	718.921	759.288
	Other Income	NA	1.230	0.699
	TOTAL	NA	720.151	759.987
Less	EXPENSES
	TOTAL	NA	718.961	757.624
	PROFIT/ (LOSS) BEFORE TAX	0.327	1.190	2.363
Less	TAX	(0.271)	0.552	(0.325)
	PROFIT/ (LOSS) AFTER TAX	0.598	0.638	2.688
	Earnings / (Loss) Per Share (Rs.)	0.17	0.18	0.75

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	0.09	0.35
Operating Profit Margin (PBIDT/Sales)	(%)	NA	100.01	99.78
Return on Total Assets (PBT/Total Assets}	(%)	0.08	0.36	0.66
Return on Investment (ROI) (PBT/Networth)		0.01	0.02	0.05
Debt Equity Ratio (Total Liability/Networth)		3.06	2.38	2.29
Current Ratio (Current Asset/Current Liability)		1.03	1.01	1.05

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	35.755	35.755	35.755
Reserves & Surplus	11.790	12.428	13.025
Net worth	47.545	48.183	48.780
long-term borrowings	8.906	3.938	1.899
Short term borrowings	100.065	110.808	147.167
Total borrowings	108.971	114.746	149.066
Debt/Equity ratio	2.292	2.381	3.056

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two 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	Yes
17]	Major suppliers	No
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	Yes
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	Yes

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	80001890	19/07/2012 *	200,000,000.00	ALLAHABAD BANK	Nehru Colony, Dehradun, Uttarakhand - 248001, India	B44761120

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from others	1.447	0.706
Term loans from bank	0.000	2.581
SHORT TERM BORROWINGS
Loans
Rupee term loans from others	0.000	0.121
Loans repayable demand from others	18.927	1.520
Total	20.374	4.928

NOTE :

The Registered Office Of The Company Has Been Shifted From 4512-A, 7/33, Ansari Road, Darya Ganj, New Delhi – 110002, Delhi, India To The Present Address W.E.F. 31.12.2012.

FIXED ASSETS

• Plant and Machinery
• Furniture and Fixture
• Office Equipment
• Computer
• Vehicles and Car
• Building

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.61.93
UK Pound	1	Rs.96.37
Euro	1	Rs.76.10

INFORMATION DETAILS

Information Gathered by :	NVA
Analysis Done by :	RAS
Report Prepared by :	SNT

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	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.