MIRA INFORM REPORT

Report Date :

12.06.2014

IDENTIFICATION DETAILS

Name :	SAWALKA KEL PRIVATE LIMITED
Registered Office :	16, Nilgunge Road, Panihati, Parganas North, Kolkata-700114, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.07.1964
Com. Reg. No.:	21-026139
Capital Investment / Paid-up Capital :	Rs. 7.000 Millions
CIN No.: [Company Identification No.]	U28939WB1964PTC026139
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Metal Sheet Components and Importer of Gloves
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 97000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealing at usual trade terms and condition.

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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs  has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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. Gopal Agarwal
Designation :	Business Development Manager
Contact No.:	91-9831690502
Date :	09.06.2014

LOCATIONS

Registered Office / Factory:	16, Nilgunge Road, Panihati-700114, West Bengal, India
Tel. No.:	91-33-25539407
Mobile No.:	91-9831690502 (Mr. Gopal Agarwal)
Fax No.:	91-33-25539407
E-Mail :	mail@swalka.net gloves@sawalka.net
Website :	www.sawalka.com
Location :	Owned
Corporate Office :	5A, Robinson Street, 3^rd Floor, Kolkata-700017, West Bengal, India
Tel. No.:	91-33-22878117/22878118/22878119
Fax No.:	91-33-22878596

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Ram Niwas Sawalka

Designation :

Director

Address :

5A, Robinson Street, 2^nd Floor, Kolkata-700017, West Bengal, India

Date of Birth/Age :

12.01.1935

Date of Appointment :

06.07.1964

PAN No.:

AJCPS0006K

DIN No.:

00181599

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	U28939WB1964PTC026139	SAWALKA KEL PRIVATE LIMITED	Director	6/7/1964	6/7/1964	-	Active	NO
2	U27109WB1973PTC029127	G T Z (INDIA) PRIVATE LIMITED	Director	17/01/1981	17/01/1981	-	Active	NO
3	U51909WB1991PTC051589	GTZ (CALCUTTA) PRIVATE LIMITED	Director	30/04/1991	30/04/1991	24/03/2011	Active	NO
4	U72900WB1978PTC031512	SAWALKA TECHNICAL SERVICES PRIVATE LIMITED	Director	18/08/1997	18/08/1997	-	Active	NO
5	U51909WB2002PTC094260	SAWALKA IMPEX PRIVATE LIMITED	Director	21/02/2002	21/02/2002	-	Under Process of Striking off	NO
6	U72900WB2002PTC094753	GEOTECH INFORMATICS PRIVATE LIMITED	Additional director	14/03/2008	14/03/2008	1/11/2010	Active	NO

Name :

Mr. Avinash Sawalka

Designation :

Director

Address :

5A, Robinson Street, 2^nd Floor, Kolkata-700017, West Bengal, India

Date of Birth/Age :

27.01.1981

Date of Appointment :

27.03.1999

PAN No.:

AQMPS5934K

DIN No.:

00210682

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	U28939WB1964PTC026139	SAWALKA KEL PRIVATE LIMITED	Director	27/03/1999	27/03/1999	-	Active	NO
2	U72900WB1978PTC031512	SAWALKA TECHNICAL SERVICES PRIVATE LIMITED	Director	27/03/1999	27/03/1999	-	Active	NO
3	U51909WB2002PTC094260	SAWALKA IMPEX PRIVATE LIMITED	Director	20/02/2002	20/02/2002	-	Under Process of Striking off	NO
4	U72200WB2006PTC108865	GEOTECH INFOSOLUTIONS PRIVATE LIMITED	Director	5/4/2006	5/4/2006	-	Strike off	NO
5	U72900WB2002PTC094753	GEOTECH INFORMATICS PRIVATE LIMITED	Additional director	14/03/2008	14/03/2008	1/11/2010	Active	NO
6	U19115WB2013PTC197520	WWS SAWALKA SAFETY PRODUCTS PRIVATE LIMITED	Director	24/09/2013	24/09/2013	-	Active	NO

Name :

Mr. Anil Kumar Goenka

Designation :

Director

Address :

Shyam Lake Garden, Block-C, 2^nd Floor, 202, Jessore Road, Kolkata-700089, West Bengal, India

Date of Birth/Age :

17.05.1965

Date of Appointment :

07.06.2005

PAN No.:

ACZPG6107D

DIN No.:

00619270

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	U51909WB2002PTC094260	SAWALKA IMPEX PRIVATE LIMITED	Director	21/02/2002	21/02/2002	-	Under Process of Striking off	NO
2	U72900WB1978PTC031512	SAWALKA TECHNICAL SERVICES PRIVATE LIMITED	Director	30/07/2004	30/07/2004	-	Active	NO
3	U28939WB1964PTC026139	SAWALKA KEL PRIVATE LIMITED	Director	7/6/2005	7/6/2005	-	Active	NO

Name :

Mr. Umesh Kumar Agarwalla

Designation :

Director

Address :

Durgesh Nandan, 74/10, Lal Babu shire Road, Belur Math, Howrah-711202, India

Date of Birth/Age :

16.10.1966

Date of Appointment :

27.08.2004

PAN No.:

AFKPA8452K

DIN No.:

00619244

Name :

Mrs. Neha Sawalka

Designation :

Director

Address :

5A, Robinson Street, 2^nd Floor, Kolkata-700017, West Bengal, India

Date of Birth/Age :

12.01.1981

Date of Appointment :

01.06.2007

PAN No.:

ACRPT7621D

DIN No.:

01518302

Name :

Mr. Dileep Krishna Rohatgi

Designation :

Director

Address :

45, Aremenian Street, Kolkata-700001, West Bengal, India

Date of Birth/Age :

03.06.1941

Date of Appointment :

01.06.2007

PAN No.:

ACPPR8565G

DIN No.:

00773194

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	U27109WB1998PLC086303	HINDUSTHAN ENGINEERING & INDUSTRIES LIMITED	Director	29/06/2006	29/06/2006	-	Active	NO
2	U28939WB1964PTC026139	SAWALKA KEL PRIVATE LIMITED	Director	1/6/2007	1/6/2007	-	Active	NO

Name :

Mr. Dinesh Kumar Gupta

Designation :

Director

Address :

Tower-3, Flat No.6A, South City Garden 61, B L Saha Road, Kolkata-700053, West Bengal, India

Date of Birth/Age :

07.11.1954

Date of Appointment :

01.06.2007

PAN No.:

ADPPG5851P

DIN No.:

01528448

Name :

Mr. Prashant Tulsyan

Designation :

Director

Address :

9, New Road Alipore, Anugrah Apartment, 4^th Floor, Kolkata-700027, West Bengal, India

Date of Birth/Age :

24.03.1966

Date of Appointment :

04.07.2011

PAN No.:

ABVPT7422P

DIN No.:

00452506

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	U51909WB1983PTC035748	TULSYAN IMPEX PVT LTD	Director	24/06/2013	1/6/1991	-	Active	NO
2	U05005WB1995PTC072429	P T COMPUTERS PRIVATE LIMITED	Director	29/06/1995	29/06/1995	-	Active	NO
3	U24234WB1997PTC085845	PT ENTERPRISES PRIVATE LIMITED	Director	6/11/1997	6/11/1997	-	Active	NO
4	U65993WB1991PTC051072	G L INVESTMENT PRIVATE LIMITED	Director	24/02/1999	24/02/1999	-	Active	NO
5	U72200WB2000PTC091406	WORLDWIDE SAFETY PRIVATE LIMITED	Whole-time director	28/03/2013	16/03/2000	-	Active	NO
6	U51109WB2005PLC104406	SHREE BASUKINATH FOOD PROCESSORS LIMITED	Director	1/8/2011	3/5/2010	21/11/2012	Active	NO
7	U70109WB1991PTC050984	PRAGATI VINIYOG PRIVATE LIMITED	Director	5/6/2010	5/6/2010	-	Active	NO
8	U70109WB2010PTC151835	PDPT DEVELOPERS PRIVATE LIMITED	Director	30/07/2010	30/07/2010	-	Active	NO
9	U15319WB2003PTC096893	BENGAL AGRITECH PRIVATE LIMITED	Director	21/09/2010	21/09/2010	-	Amalgamated	NO
10	U45400WB2008PTC123053	GOPALA APARTMENT PRIVATE LIMITED	Director	18/11/2010	18/11/2010	-	Active	NO
11	U74999WB2011PTC158084	TULSYAN INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
12	U74900WB2011PTC158061	TULSYAN AGENCIES PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
13	U74900WB2011PTC158060	TULSYAN SUPPLIERS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
14	U74900WB2011PTC158059	TULSYAN COMMOSALE PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
15	U74900WB2011PTC158058	TULSYAN COMMODEAL PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
16	U74900WB2011PTC158057	TULSYAN DEALERS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
17	U74900WB2011PTC158056	TULSYAN COMMOTRADE PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
18	U74900WB2011PTC158055	TULSYAN ADVISORS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
19	U74900WB2011PTC158054	TULSYAN FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
20	U74900WB2011PTC158053	TULSYAN TRADELINK PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
21	U74140WB2011PTC158051	TULSYAN MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
22	U74900WB2011PTC158052	TULSYAN MERCHANTS PRIVATE LIMITED	Director	27/01/2011	27/01/2011	-	Active	NO
23	U19115WB2011PTC160709	KANISHK LEATHER PRODUCTS PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
24	U74999WB2011PTC160708	TULSYAN VINIMAY PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
25	U19129WB2011PTC160707	TULSYAN LEATHER PRODUCTS PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
26	U74999WB2011PTC160706	TULSYAN VANIJYA PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
27	U74140WB2011PTC160705	TULSYAN PROJECT CONSULTANTS PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
28	U74999WB2011PTC160698	TULSYAN COMMERCIAL PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
29	U28939WB1964PTC026139	SAWALKA KEL PRIVATE LIMITED	Director	4/7/2011	4/7/2011	-	Active	NO
30	U19115WB2013PTC197520	WWS SAWALKA SAFETY PRODUCTS PRIVATE LIMITED	Director	24/09/2013	24/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gopal Agarwal
Designation :	Business Development Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Avinash Sawalka	39850
Neha Sawalka	150
Sawalka Technical Services Private Limited, India	30000
TOTAL	70000

AS ON 30.09.2013

Equity Shares Break Up	Percentage of Holding
Bodies corporate	42.86
Directors or relatives of Directors	57.14
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Metal Sheet Components and Importer of Gloves

Products :

ITC CODE	PRODUCTS
87.08	Parts and Accessories of Motor Vehicles
851220-02	Automobile Lighting Equipments

Imports :

Products :

Raw material

Countries :

• USA
• Middle East Countries

Terms :

Selling :

Credit and Cash

Purchasing :

Credit and Cash

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

100 (Approximately)

Bankers :

• State Bank of India, SME Branch, Ballygunge, 50A, Gariaht Road, 5^th Floor, Kolkata-700019, West Bengal, India

Facilities :

SECURED LOAN

Particulars

Rs. In Millions

31.03.2013

Rs. In Millions

31.03.2012

LONG TERM BORROWINGS

Term Loan

From Bank

1.800

3.600

Vehicle Loans

From Others

0.805

1.023

SHORT TERM BORROWINGS

Loans repayable on demand

Working Capital Loans *

From Banks

7.096

10.072

TOTAL

9.701

14.695

NOTES

Long Term Borrowings

1. Term loans from bank is secured by way if hypothecation of stocks, other current assets and plant and machinery at the factory, equitable mortgage over the factory land and building and guaranteed by directors.

2. Vehicle loans from bank and others are secured by way of hypothecation of cars.

Term of repayment of loans

(Rs. In Millions)

Name of the banks / entities	Rate of interest	Amount outstanding as on the balance sheet date		Period of maturity w.r.t. balance sheet date	Number of installments outstanding as on 31.03.2012	Amount of each install.
		Current *	Non current
Term Loans
State Bank of India #	13.75	1.800	1.800	2 Years	8	0.450
		(1.800)	(3.600)	(3 Years)	12
Vehicles Loans
Tata Capital Limited $	11.12	0.139	0.109	2 Years	24	0.012
		(0.139)	-0.214	(3 Years)	(36)
Tata Capital Limited $	10.42	0.297	0.362	2 Years and 6 month	30	0.025
		(0.297)	-0.586	(3 Years and 6 Months)	(42)
Tata Capital Limited $	9.44	0.104	0.147	3 Years and 9 Months	33	0.009
		0.104	0.223	(3 Years and 9 Months)	(45)
Tata Capital Limited $	11.25	0.132	0.187	(3 Years and 10 Months)	34	0.11
		(-)	(-)	(-)	(-)
TOTAL		2.471	2.605
		(2.340)	(4.623)

*Represents current maturities of long term debts shown under “Other current liabilities”

# Interest rate is 2% over base rate (11.75%)

$ Installment includes interest

Note : Figures in brackets pertain to previous year

Short Term Borrowings

*Working capital loans from banks are secured by way of hypothecation of stocks and book debts and guaranteed by directors of the company.

Banking Relations :	--
Auditors :
Name :	G P Agarwal and Company Chartered Accountant
Address :	7A, Kiran Shankar Ray Road, 2^nd Floor, Kolkata-700001, West Bengal, India
PAN No.:	AACFG8964F
Related Parties :	Sawalka Auto Industries Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
90000	Equity Shares	Rs.100/- each	Rs. 9.000 Millions
10000	11% Redeemable Non-Cumulative Preference Shares	Rs.100/- each	Rs. 1.000 Millions
	TOTAL		Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs.100/- each	Rs. 7.000 Millions

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	7.000	7.000	7.000
(b) Reserves & Surplus	17.474	14.472	13.691
(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)	24.474	21.472	20.691
(3) Non-Current Liabilities
(a) long-term borrowings	2.605	4.623	6.791
(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	4.099	3.189	2.574
Total Non-current Liabilities (3)	6.704	7.812	9.365
(4) Current Liabilities
(a) Short term borrowings	29.920	23.486	19.337
(b) Trade payables	6.600	4.670	2.240
(c) Other current liabilities	7.418	5.892	5.522
(d) Short-term provisions	1.070	0.507	0.111
Total Current Liabilities (4)	45.008	34.555	27.210
TOTAL	76.186	63.839	57.266
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	27.790	26.759	26.028
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.811	0.847	0.090
(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)	0.300	0.023	0.000
(d) Long-term Loan and Advances	0.850	0.670	0.723
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	29.751	28.299	26.841
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.243	8.387	6.832
(c) Trade receivables	30.949	25.343	19.363
(d) Cash and cash equivalents	2.779	0.660	0.629
(e) Short-term loans and advances	2.415	1.146	3.579
(f) Other current assets	0.049	0.004	0.022
Total Current Assets	46.435	35.540	30.425
TOTAL	76.186	63.839	57.266

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	107.081	80.138	67.605
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	98.121	72.271	61.470
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		8.960	7.867	6.135
Less	FINANCIAL EXPENSES / DEPRECIATION		5.892	6.492	4.335
	PROFIT BEFORE TAX		3.068	1.375	1.800
Less	TAX		0.965	0.496	0.784
	PROFIT AFTER TAX		2.103	0.879	1.016
	Earnings Per Share (Rs.)		30.04	12.55	14.51

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.96	1.10	1.50
Net Profit Margin (PBT/Sales)	(%)	2.87	1.72	2.66
Return on Total Assets (PBT/Total Assets}	(%)	4.09	2.18	3.15
Return on Investment (ROI) (PBT/Networth)		0.13	0.06	0.09
Debt Equity Ratio (Total Debt /Networth)		1.33	1.31	1.26
Current Ratio (Current Asset/Current Liability)		1.03	1.03	1.12

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	7.000	7.000	7.000
Reserves & Surplus	13.691	14.472	17.474
Net worth	20.691	21.472	24.474
long-term borrowings	6.791	4.623	2.605
Short term borrowings	19.337	23.486	29.920
Total borrowings	26.128	28.109	32.525
Debt/Equity ratio	1.263	1.309	1.329

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	67.605	80.138	107.081
		18.539	33.621

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	67.605	80.138	107.081
Profit	1.016	0.879	2.103
	1.50%	1.10%	1.96%

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	No
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]	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	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10484005	16/04/2014 *	20,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	C04642823

* Date of charge modification

Note:

The registered office of the company has been shifted from 16, Nilgunge Road, Panihati, 24 Parganas North, Kolkata-700114, West Bengal to present address w.e.f. 26.08.2013

UNSECURED LOAN

Particulars	Rs. In Millions 31.03.2013	Rs. In Millions 31.03.2012
SHORT TERM BORROWINGS
Loans repayable on demand
Working Capital Loans
From Bodies Corporate	4.682	2.247
Loans from related parties	18.141	11.167
TOTAL	22.823	13.414

OPERATIONS

The sales and other Income of the company for the year was Rs. 107.081 Millions (Rs. 80.138 Millions), while operating profit before interest and depreciation was Rs. 8.960 Millions (Rs. 7.867 Millions), Net Profit (+) / Loss (-) after providing interest and depreciation was Rs. 3.068 Millions (Rs. 1.375 Millions). The Directors are in view that the profitability of the company shall improve during the year.

FIXED ASSETS

• Land
• Factory Building
• Plant and Equipments
• ETP Plant
• Generating Set
• Electric Installations
• Furniture and Fixtures
• Motor Car
• Office Equipments
• Typewriter
• Air Conditioner
• Computer
• Scooter / Cycle
• Cellular Phone

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.59.32
UK Pound	1	Rs.99.41
Euro	1	Rs.80.32

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	SUM
Report Prepared by :	ASH

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	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.