MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	V T CORP PRIVATE LIMITED
Country :	India
Financials (as on) :	31.03.2013
TAN No.: [Tax Deduction & Collection Account No.]	MUMV17518E
PAN No.: [Permanent Account No.]	AADCV1899C
Legal Form :	Private Limited Liability Company
No. of Employees :	500 (Approximately)

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Electrostatic Precipitator (ESP), Force Draft Cooler (FD Cooler), Packing and Weighing Machine and turnkey project for Iron Ore Pellet Plant and Beneficiation Plant.
Exports :
Products :	· Finished Goods
Countries :	· Nepal · Thailand
Terms :
Selling :	Cash, Depend
Purchasing :	Cash, Depend

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

500 (Approximately)

Bankers :

HDFC Bank Limited

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
FD against loan from Indian Bank	0.000	16.722
Indian Bank (working capital loan from banks are secured by hypothecation of inventories books, debts and other current assets.)	10.074	0.000
Total	10.074	16.722
UNSECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loan from related parties	53.453	47.565
Total	53.453	47.565

Banking Relations :	--
Auditors :
Name :	Vyas and Joshi Chartered Accountants
Address :	445/451, Kalbadevi Road, Opposite Bhangwadi, 1^st Floor, Mumbai – 400002, Maharashtra, India
Tel. No. :	91-22-22012440
Fax No. :	91-22-22072865
E-Mail :	vyasandjoshi@gmail.com vyas_joshi@yahoo.com
PAN No. :	AACFV8514C
Associates/Subsidiaries :	· Sanshvi Engineering · Sanshavi Industries Private Limited

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Dilip C. Sanghavi	100000
Vipinchandra C. Sanghavi	100000
Jyoti A. Sanghavi	100000
Uday V. Sanghavi	100000
Manish S. Sanghavi	100000
Total	500000

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.000	5.000	5.000
(b) Reserves & Surplus	9.489	7.652	5.795
(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)	14.489	12.652	10.795
(3) Non-Current Liabilities
(a) long-term borrowings	53.453	47.565	57.977
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	53.453	47.565	57.977
(4) Current Liabilities
(a) Short term borrowings	10.074	16.722	15.548
(b) Trade payables	1.494	2.847	25.108
(c) Other current liabilities	37.525	31.348	32.155
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	49.093	50.917	72.811
TOTAL	117.035	111.134	141.583
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.569	7.653	8.691
(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	24.081	26.080	22.439
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	31.650	33.733	31.130
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	17.696	5.427	5.095
(c) Trade receivables	39.145	33.509	74.787
(d) Cash and cash equivalents	1.256	15.184	0.674
(e) Short-term loans and advances	23.282	20.505	27.021
(f) Other current assets	4.006	2.776	2.876
Total Current Assets	85.385	77.401	110.453
TOTAL	117.035	111.134	141.583

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	205.875	189.411
		Other Income	NA	NA
		TOTAL	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		5.612	5.403	NA
Less/ Add	DEPRECIATION/ AMORTISATION		1.514	1.585
	PROFIT/ (LOSS) BEFORE TAX		4.097	3.818
Less	TAX		NA	NA
	PROFIT/ (LOSS) AFTER TAX		NA	NA

Particulars	31.03.2014
Sales Turnover	230.000

The above information has been parted by Ms. Trupti

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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office / Factory :	Nutan Chemical Compound, Walbhat Road, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No. :	91-22-26858322
Fax No. :	91-22-26858429
E-Mail :	Vtc2@vsnl.com vtcaccounts@sanghavigroup.com
Website :	www.vtcorpindia.com
Location :	Owned
Branch :	20, Lakshmi, 3rd Floor, Shankar Mutt Road, Shankarpuram, Basavanagudi, Bangalore – 56000, Karnataka, India

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.