MIRA INFORM REPORT

Report Date :

09.12.2014

IDENTIFICATION DETAILS

Name :	PROENERGY RESOURCES PRIVATE LIMITED
Registered Office :	Flat No. 102, Lotus Residency, S. No. 15/12, Sangam Press Road, Kothrud, Pune – 411038, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	29.08.2011
Com. Reg. No.:	11-140608
Capital Investment / Paid-up Capital :	Rs. 0.144 Million
CIN No.: [Company Identification No.]	U74999PN2011PTC140608
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Suppliers of Process columns, Pressure vessel, Exchange and evaporators and also water treatment equipment, water purification Equipment
No. of Employees :	25(Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track record. Company has incurred loss from its operation in the year 2013 which has eroded networth of the company. Business is active. Payment terms are slow. The company can be considered for business dealing on a safe and secured 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 – 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

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 (GENERAL DETAILS)

Name :	Mr. Rajendra Alekari
Designation :	Manager
Contact No.:	91-20-30440923
Date :	20.08.2014

LOCATIONS

Registered Office / Corporate :	Flat No. 102, Lotus Residency, S. No. 15/12, Sangam Press Road, Kothrud, Pune – 411038, Maharashtra, India
Tel. No.:	91-20-30440923
Fax No.:	Not Available
E-Mail :	secretarial@proenergyresources.in
Website :	www.proenergyresources.in
Corporate Office :	4^th Floor, Parena Park, Kharadi By Pass Next To Magarpatta City, Above Kotak Mah, India
Factory :	Bhosari, Chakar, Baramati, India

DIRECTORS

As on 23.09.2013

Name :

Mr. Babasaheb Vithoba Suryavanshi

Designation :

Director

Address :

Nandaraj Housing Society Harikripa Nagar, Opp. Market, Indapur Road, Baramati, Pune – 413102, Maharashtra, India

Date of Appointment :

29.08.2011

DIN No.:

00574248

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	U51909PN1999PLC013701	AG-VET MARKETING LIMITED	Whole-time director	28/03/2013	08/06/1999	-	Active	NO
2	U01110MH1992PTC068812	GREEN ACRES RESORTS AND REALTORS PRIVATE LIMITED	Director	25/08/2009	10/08/2009	13/03/2012	Active	NO
3	U63090PN2010PTC135747	RAINTREE TOURISM PRIVATE LIMITED	Director	11/03/2010	11/03/2010	-	Active	NO
4	U01122PN2010PTC135765	RAVISH GREENFIELDS PRIVATE LIMITED	Director	12/03/2010	12/03/2010	-	Active	NO
5	U01409MH2010PTC201081	TAPAN GREENFIELDS PRIVATE LIMITED	Director	19/03/2010	19/03/2010	-	Active	NO
6	U01403MH2010PTC201559	AADITYA KRISHI PROCESSING PRIVATE LIMITED	Director	01/04/2010	01/04/2010	-	Active	NO
7	U74999PN2011PTC140608	PROENERGY RESOURCES PRIVATE LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO
8	U01403PN2011PTC140502	PROFARM AGROTECH PRIVATE LIMITED	Director	26/09/2012	30/09/2011	-	Active	NO
9	U63090PN2011PTC140933	PROTRANS SUPPLY CHAIN MANAGEMENT PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
10	U15520PN2011PTC141652	PROSPIRIT DISTILLERIES PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO
11	U01406PN2011PTC139807	LOCUS KRUSHI SERVICES PRIVATE LIMITED	Director	29/04/2013	29/04/2013	-	Active	NO
12	U01200PN2012PTC142117	SEMEX-PROVET GENETICS (INDIA) PRIVATE LIMITED	Director	11/02/2014	11/02/2014	-	Active	NO

Name :

Mr. Kiran Hari Thombare

Designation :

Whole Time Director

Address :

K-03 Sujal Apartments, S. No. 127, Near Chaitanya Nagari, Warje, Pune – 411052, Maharashtra, India

Date of Appointment :

01.01.2012

DIN No.:

01686658

Name :

Mr. Sadashiv Lalaso Wabale

Designation :

Director

Address :

907 B Zore – Vabale Vasti Sangavi, Baramati, Pune – 413102, Maharashtra, India

Date of Appointment :

26.09.2012

DIN No.:

02929768

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	U01119PN2010PTC135761	ANSHUMAN GREENFIELDS PRIVATE LIMITED	Director	12/03/2010	12/03/2010	-	Active	NO
2	U01122PN2010PTC135764	DINKAR GREENFIELDS PRIVATE LIMITED	Director	12/03/2010	12/03/2010	-	Active	NO
3	U74999PN2011PTC140608	PROENERGY RESOURCES PRIVATE LIMITED	Director	26/09/2012	01/09/2011	-	Active	NO
4	U01402PN2011PTC138471	PROVET GENETICS PRIVATE LIMITED	Director	03/08/2012	01/02/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajendra Alekari
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2013

Names of Shareholders	No. of Shares
Mr. Babasaheb Vithoba Suryavanshi	760
Kunti Pawar	240
Baramati Agro Limited	100
Kiran Thombre	340
Total	1440

As on 23.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others
Bodies corporate	6.95
Directors or relatives of Directors	76.39
Others	16.66
Total	100.00

BUSINESS DETAILS

Line of Business :	Suppliers of Process columns, Pressure vessel, Exchange and evaporators and also water treatment equipment, water purification Equipment
Products :	Process columns Pressure vessel Exchange and evaporators and also water treatment equipments
Countries :	Europe Bostan
Imports :
Products :	Process columns Pressure vessel Exchange and evaporators and also water treatment equipments
Countries :	China USA

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Baramati Agro, Pune

No. of Employees :

25 (Approximately)

Bankers :

Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
SHORT TERM BORROWING
Working Capital Finance	0.948	0.000
Total	0.948	0.000

Auditors :
Name :	P. H. Mehendale and Company Chartered Accountant
Address :	1^st Floor, Almira Apartments CTS No. 110/8, Erandawane, Thorat Colony Off Lane No.10, Prabhat Road, Pune – 411004, Maharashtra, India
Tel. No.:	91-20-25660600
PAN No.:	AAHFP6063H
Associates :	Baramati Agro Limited

CAPITAL STRUCTURE

As on 23.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1440	Equity Shares	Rs.100/- each	Rs.0.144 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.110	0.100
(b) Reserves & Surplus	(3.775)	4.841
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.034	0.010
Total Shareholders’ Funds (1) + (2)	(3.631)	4.951
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.012
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.012
(4) Current Liabilities
(a) Short term borrowings	3.730	0.007
(b) Trade payables	1.902	1.079
(c) Other current liabilities	2.770	1.006
(d) Short-term provisions	0.484	2.349
Total Current Liabilities (4)	8.886	4.441
TOTAL	5.255	9.404
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.157	0.172
(ii) Intangible Assets	0.008	0.010
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.073	0.073
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.347
(d) Long-term Loan and Advances	0.025	0.025
(e) Other Non-current assets	0.000	0.006
Total Non-Current Assets	0.453	0.286
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.250	0.598
(c) Trade receivables	1.646	2.204
(d) Cash and cash equivalents	0.765	3.023
(e) Short-term loans and advances	2.120	3.273
(f) Other current assets	0.021	0.020
Total Current Assets	4.802	9.118
TOTAL	5.255	9.404

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	6.782	30.511
		Other Income	0.129	0.736
		TOTAL (A)	6.911	31.247
Less	EXPENSES
		Cost of Materials Consumed	3.494	14.866
		Purchases of Stock-in-Trade	0.168	0.174
		Employees benefits expense	4.783	0.959
		Other expenses	6.457	8.097
		Prior period Expenses	0.238	0.000
		TOTAL (B)	15.140	24.096
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(8.229)	7.151
Less	FINANCIAL EXPENSES (D)		0.418	0.090
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(8.647)	7.061
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.033	0.008
	PROFIT BEFORE TAX (E-F) (G)		(8.680)	7.053
Less	TAX (H)		(0.202)	2.212
	PROFIT AFTER TAX (G-H) (I)		(8.478)	4.841
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.241	29.442
		Other Earnings	0.000	0.665
	TOTAL EARNINGS		0.241	30.107
	Earnings Per Share (Rs.)		(7,754)	7.258

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
PAT / Total Income	(%)	(125.01)	15.87
Net Profit Margin (PBT/Sales)	(%)	(121.34)	23.44
Return on Total Assets (PBT/Total Assets}	(%)	(1.65)	0.75
Return on Investment (ROI) (PBT/Networth)		2.39	1.42
Debt Equity Ratio (Total Debt /Networth)		(1.03)	0.00
Current Ratio (Current Asset/Current Liability)		0.54	2.05

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.110
Reserves & Surplus	4.841	(3.775)
Money received against share warrants	0.010	0.034
Net worth	4.951	93.919)
long-term borrowings	0.000	0.000
Short term borrowings	0.007	3.730
Total borrowings	0.007	3.730
Debt/Equity ratio	0.001	(0.952)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	30.511	6.782
		(77.772)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	30.511	6.782
Profit	4.841	(8.478)
	15.87%	(125.01)%

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 two years	Yes
12]	Profitability for last two 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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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]	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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
SHORT TERM BORROWING
Loans and advances from related parties	0.007	0.007
Other Loans and advances
Under corporate Deposit	2.775	0.0
Total	2.782	0.007

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10426331	04/05/2013	75,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	B75347906

* Date of charge modification

FIXED ASSETS

• Computer and Peripherals
• Computer Software

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.61.92
UK Pound	1	Rs.96.37
Euro	1	Rs.76.10

INFORMATION DETAILS

Information Gathered by :	SAN
Analysis Done by :	SUM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	1
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10
--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		11

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.