MIRA INFORM REPORT

Report Date :

19.12.2014

IDENTIFICATION DETAILS

Name :	FAUJI EXIM PRIVATE LIMITED [w.e.f.21.07.2008]
Formerly Known As :	FAUJI INTERNATIONAL ELECTRICALS PRIVATE LIMITED
Registered Office :	1688/121, Shanti Nagar, Tri Nagar, Delhi – 110035
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.01.2006
Com. Reg. No.:	55-144911
Capital Investment / Paid-up Capital :	Rs. 2.100 Millions
CIN No.: [Company Identification No.]	U31909DL2006PTC144911
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCF0696D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Agro Products.
No. of Employees :	90 [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 81900
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating taken into consideration company’s moderate financial risk profile marked by thin profitability margins and leverage capital structure of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for 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 – 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	Short Term Rating = A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	04.02.2014

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. Rohit Chauhan
Designation :	Director
Contact No.:	91-9818661211
Date :	18.12.2014

LOCATIONS

Registered Office :	1688/121, Shanti Nagar, Tri Nagar, Delhi – 110035, India
Tel. No.:	91-11-27383623/ 27013408
Mobile No.:	91-9818661211 [Mr. Rohit Chauhan]
Fax No.:	91-11-27383624
E-Mail :	deepakbansal35@hotmail.com faujiexim@faujiexim.com rohit.chauhan@faujiexim.com
Website :	http://www.faujiexim.com
MENA (Middle East and North Africa) Regional Office :	Azadi Building, Al-Quds Str., 3rd Floor, Off # 313 P.O. Box: 38244 Amman, 11593 Jordan
Tel. No.:	962 6 4202372/ 7 95331441
Fax No.:	962 6 4202383
E-Mail :	jordan@faujiexim.com nader.awad@faujiexim.com

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Dilbagh Singh
Designation :	Director
Address :	100, Sainik Vihar, Pitampura, Delhi - 110034, India
Date of Appointment :	16.01.2006
PAN No.:	AANPS0368J
DIN No.:	02126504
Name :	Mr. Deepak Chauhan
Designation :	Director
Address :	100, Sainik Vihar, Pitampura, Delhi - 110034, India
Date of Appointment :	16.01.2006
PAN No.:	AFOPC7285A
DIN No.:	01391453
Name :	Mr. Rohit Chauhan
Designation :	Director
Address :	100, Sainik Vihar, Pitampura, Delhi - 110034, India
Date of Appointment :	16.01.2006
PAN No.:	AFOPC7286D
DIN No.:	01391397
Name :	Mr. Shekhar Chauhan
Designation :	Director
Address :	100, Sainik Vihar, Pitampura, Delhi - 110034, India
Date of Appointment :	16.01.2006
PAN No.:	AFBPC2624Q
DIN No.:	01391441

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Dilbagh Singh	52500	25.00
Deepak Chauhan	52500	25.00
Rohit Chauhan	52500	25.00
Shekhar Chauhan	52500	25.00
Total	210000	100.00

AS ON 30.09.2014

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

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Agro Products.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Agro Products
Countries :	· China · USA · Pakistan · Germany · Gulf Countries
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	A.D.M. Agro Private Limited, Madhya Pradesh
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and Manufacturer

Reference:	Asian Agro, Pakistan
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

90 [Approximately]

Bankers :

Bank Name:	Oriental Bank of Commerce
Branch:	LU Block, Pitampura, New Delhi - 110088, Delhi, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Long-term maturities of finance lease obligations	0.335	0.746
SHORT TERM BORROWINGS
Working capital loans from banks	110.470	167.586
Long-term maturities of finance lease obligations	0.411	0.558
Total	111.216	168.890

Banking Relations :	--
Auditors :
Name :	DRA and Company Chartered Accountants
Address :	35, Bunglow Road, Delhi – 110007, India
Income-tax PAN of auditor or auditor's firm :	AAEFD9975H
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
210,000	Equity Shares	Rs. 10/- each	Rs. 2.100 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	2.100	2.100	2.100
(b) Reserves & Surplus	26.582	22.004	10.228
(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)	28.682	24.104	12.328
(3) Non-Current Liabilities
(a) Long-term borrowings	1.177	22.022	28.143
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	26.093	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	27.270	22.022	28.143
(4) Current Liabilities
(a) Short term borrowings	110.881	168.144	79.188
(b) Trade payables	1.672	8.550	6.345
(c) Other current liabilities	16.628	11.172	11.697
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	129.181	187.866	97.230
TOTAL	185.133	233.992	137.701
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.527	5.053	2.855
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	4.807	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)	0.352	0.231	0.101
(d) Long-term Loan and Advances	0.018	0.019	0.057
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9.897	10.110	3.013
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	12.661	1.546	13.598
(c) Trade receivables	131.747	173.011	89.640
(d) Cash and cash equivalents	0.307	8.079	6.319
(e) Short-term loans and advances	30.521	41.246	25.131
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	175.236	223.882	134.688
TOTAL	185.133	233.992	137.701

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
REVENUE	1300.558	1924.676	1233.607
EXPENSES	NA	NA	NA
PROFIT BEFORE TAX	6.221	9.540	8.991
TAX	2.043	3.087	3.074
PROFIT AFTER TAX	4.300	6.583	6.018
Earnings Per Share (Rs.)	20.48	31.35	28.66

Expected Sales (2014-2015): Rs. 1500.000 Millions

The above information has been parted by Mr. Rohit Chauhan [Director]

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	3.37	4.17	6.53
Return on Investment (ROI) (PBT/Networth)		0.22	0.40	0.73
Debt Equity Ratio (Total Debt/Networth)		3.91	7.89	8.71
Current Ratio (Current Asset/Current Liability)		1.36	1.19	1.39

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	2.100	2.100	2.100
Reserves & Surplus	10.228	22.004	26.582
Net worth	12.328	24.104	28.682
Long-term borrowings	28.143	22.022	1.177
Short term borrowings	79.188	168.144	110.881
Total borrowings	107.331	190.166	112.058
Debt/Equity ratio	8.706	7.889	3.907

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue	1233.607	1924.676	1300.558
		56.020	(32.427)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue	1233.607	1924.676	1300.558
Profit	6.018	6.583	4.300
	0.49%	0.34%	0.33%

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	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)	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10210286	27/11/2012 *	417,000,000.00	ORIENTAL BANK OF COMMERCE	LU BLOCK, PITAMPURA, NEW DELHI, DELHI - 110088, INDIA	B64680739

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans and advances from related parties	0.842	1.276
Other loans and advances	0.000	20.000
Total	0.842	21.276

GENERAL INFORMATION

The company was incorporated on 16th January 2006 as Fauji International Electricals Private Limited with the main objects of manufacturing and dealing in all kind of automobiles, its components, spare parts, accessories and fittings and all kind of electrical and equipment and metal of all kind. The name of the company was changed vide fresh certificate of incorporation with effect from 21st July 2008. Further the main objects of the company has changed to deal, import and export all kind of merchandise.

FIXED ASSETS:

· Plant and equipment

· Vehicles

· Leasehold improvements

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. 63.32
UK Pound	1	Rs. 98.68
Euro	1	Rs. 78.11

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	BVA

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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--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.