MIRA INFORM REPORT

Report Date :

03.11.2014

IDENTIFICATION DETAILS

Name :	SHIV GANESH EXIM PRIVATE LIMITED

Registered Office :	A - 100, Khasra No 50/4, Behind Friends, Dharam Kanta, Shahabad Daulatpur, Delhi – 110042, Delhi

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	09.09.2006

Com. Reg. No.:	55 – 153402

Capital Investment / Paid-up Capital :	Rs.2.500 Million

CIN No.: [Company Identification No.]	U51500DL2006PTC153402

TAN No.: [Tax Deduction & Collection Account No.]	DELS32508A

PAN No.: [Permanent Account No.]	AAKCS1594A

Legal Form :	Private Limited Liability Company

Line of Business :	The company is engaged in impoting non – ferrous metal i.e Scrap from overseas countries.

No. of Employees :	Information declined by the management

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 14000

Status :	Moderate

Payment Behaviour :	Slow But Correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by low profit margin and modest net worth of the company. However, trade relations are reported as fair. Business is active. Payments terms 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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 DENIED BY

Name :	Mr. Prakash Khandelwal
Designation :	Not Divulged
Contact No.:	91-9810320828
Date :	31.10.2014

LOCATIONS

Registered Office :	A - 100, Khasra No 50/4, Behind Friends, Dharam Kanta, Shahabad Daulatpur, Delhi – 110042, Delhi
Tel. No.:	Not Available
Mobile No.:	91-9810320828 (Mr. Prakash Khandelwal) 91- 9811015818 (Auditor No)
Fax No.:	Not Available
E-Mail :	SANJAYJHALANI1968@GMAIL.COM

DIRECTORS

As on 30.09.2013

Name :	Mr. Chander Prakash Khandelwal
Designation :	Director
Address :	A – 328 Shastri Nagar, Delhi – 110052, Delhi India
Date of Birth/Age :	03.08.1978
Date of Appointment :	09.09.2008
DIN No.:	01261092
PAN No.:	AFXPK7933E

Name :	Mr. Manoj Khandelwal
Designation :	Director
Address :	756 Baba Farid Puri, West Patel Nagar, Delhi – 462001, Delhi, India
Date of Birth/Age :	10.08.1974
Date of Appointment :	23.04.2008
DIN No.:	02150409

KEY EXECUTIVES

Name :	Mr. Prakash Khandelwal
Designation :	Not Divulged

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age
Chander Prakash Khandelwal	149000	59.60
Manoj Khandelwal	1000	0.40
Namita Khandelwal	100000	40.00

Total	250000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in impoting non – ferrous metal I.E. Scrap from overseas countries.

GENERAL INFORMATION

Suppliers :

Naina Recycling
Royal Appliances (Delhi)
Royal Appliances (Sonipat)
Vardhman Sales Agency
Aarush Extrution Private Limited
Camco Multy Metal Limited
JSB Alluminium Private Limited
MTJ Industries Private Limited
Padmavati Minerals Private Limited
Paragon Extrusion Private Limited
Pearl Overseas
Ravi Enterprises
Sanjivani Aluminium Private Limited
M/s Asirwad Steels
M/s Bansal Iron & Steel Traders
Aishwarya Steel Suppliers
Anil Kumar Agarwal And Sons Huf
Aspen Online Private Limited
Bharat Iron & Steel Industry
Dangayach Colonizer Private Limited
Divyansh Metals
Kunal Aluminium Company.
Manmohan Metal Corp
Padmavati Almex Private Limited
Shri Ganesh Aluminium Products
Shri Hari Metals
Sumrudhi Metals
Unnati Alloys Private Limited (Haryana)
Zinc-O-Rajasthan Private Limited

Customers :

Evershine International
Shar Metal Scrap Co Limited
Stylon Hosiery Private Limited
Ghanshyam Metal Udyog
Growmore General Trading Co
Mangla Traders Private Limited
R K Thermal Engineers
Smw Metal Private Limited
JSd Overseas
Kamya Enterprises Private Limited

Advances From Customers

M/S Ashok Co
Continental Metal Co
Jsb Aluminium
Siddhilaxmi Aluminium Private Limited
Blue Prime Aluminium Limited
Kamya Enterprises
Paradise Aluminium Extrusion Private Limited
Star Delta Exim Private Limited

No. of Employees :

Information declined by the management

Bankers :

HDFC Bank Limited
Axis Bank Limited
ICICI Bank

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
Short Term Borrowing
Short Term Loan – From Banks
Car Finance Loans From Banks (Secured by hypothecation of vehicles financed out of proceeds of loans)
HDFC Bank Limited	0.038	0.163
Axis Bank Limited	0.243	0.511

Total	0.281	0.674


Banking Relations :	---

Auditors :
Name :	R S Jhalani and Company Chartered Accountant
Address :	16 -17, Subji Market Chowk, Hauz Quazi, Delhi – 110006, Delhi, India.
PAN No.:	AADPG4152C

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

250000	Equity Shares	Rs.10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

250000	Equity Shares	Rs.10/- each	Rs.2.500 Million

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	2.500	2.500	0.100
(b) Reserves & Surplus	2.576	1.832	1.344
(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)	5.076	4.332	1.444

(3) Non-Current Liabilities
(a) long-term borrowings	14.616	14.728	15.187
(b) Deferred tax liabilities (Net)	0.000	0.000	0.012
(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)	14.616	14.728	15.199

(4) Current Liabilities
(a) Short term borrowings	0.281	0.674	1.086
(b) Trade payables	39.109	16.491	25.912
(c) Other current liabilities	1.033	1.553	0.191
(d) Short-term provisions	0.420	0.320	0.300
Total Current Liabilities (4)	40.843	19.038	27.489

TOTAL	60.535	38.098	44.132

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.431	1.618	2.161
(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)	0.016	0.059	0.000
(d) Long-term Loan and Advances	2.538	0.415	0.285
(e) Other Non-current assets	8.007	4.138	5.108
Total Non-Current Assets	11.992	6.230	7.554

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4.100	9.494	8.611
(c) Trade receivables	35.672	15.903	23.524
(d) Cash and cash equivalents	3.996	3.135	3.417
(e) Short-term loans and advances	4.775	3.336	1.026
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	48.543	31.868	36.578

TOTAL	60.535	38.098	44.132

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	392.284	352.221	245.486
		Other Income	5.952	0.574	0.092
		TOTAL (A)	398.236	352.795	245.578

Less	EXPENSES
		Cost of Materials Consumed	386.384	349.505	243.682
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	5.394	-0.883	-1.949
		Employees benefits expense	2.541	1.588	1.306
		Other expenses	2.119	1.091	1.315
		TOTAL (B)	396.438	351.301	244.354

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.798	1.494	1.224

Less	FINANCIAL EXPENSES (D)		0.160	0.178	0.059

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.638	1.316	1.165

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.432	0.564	0.208

	PROFIT BEFORE TAX (E-F) (G)		1.206	0.752	0.957

Less	TAX (H)		0.463	0.249	0.322

	PROFIT AFTER TAX (G-H) (I)		0.743	0.503	0.635

	Earnings Per Share (Rs.)		0.30	3.25	9.57

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	0.19	0.14	0.26

Operating Profit Margin (PBDIT/Sales)	(%)	0.46	0.42	0.50

Return on Total Assets (PBT/Total Assets}	(%)	1.99	1.98	2.17

Return on Investment (ROI) (PBT/Networth)		0.24	0.17	0.66

Debt Equity Ratio (Total Debt /Networth)		2.93	3.56	11.27

Current Ratio (Current Asset/Current Liability)		1.19	1.67	1.33

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	0.100	2.500	2.500
Reserves & Surplus	1.344	1.832	2.576
Net worth	1.444	4.332	5.076

long-term borrowings	15.187	14.728	14.616
Short term borrowings	1.086	0.674	0.281
Total borrowings	16.273	15.402	14.897
Debt/Equity ratio	11.269	3.555	2.935

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	245.486	352.221	392.284
		43.479	11.374

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	245.486	352.221	392.284
Profit	0.635	0.503	0.743
	0.26%	0.14%	0.19%

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	No
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	Yes
18]	Major customers	Yes
19]	Payments terms	No
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	----------------------
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

Note:

The registered office of the company has been shifted from Khasra No. 560, Main Libas Pur Road, Siras Pur, Delhi - 1100423, Delhi, India to present address w.e.f. 01.11.2012.

UNSECURED LOAN

(Rs. In Millions)

	As on 31.03.2013	As on 31.03.2012
Long Term Borrowing
Long Term Loans – Others Related Parties
Chander Prakash Khandelwal	9.228	9.699
Manoj Khandelwal	1.889	1.729
Namita Khandelwal	3.499	3.300

Total	14.616	14.728

INDEX OF CHARGES

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

Ø Car

Ø Mobile Phone

Ø Office Equipments

Ø Plant and Machinery

Ø Furniture and Fixture

Ø Computer and Allied Equipments

Ø Computer

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.61.40
UK Pound	1	Rs.98.06
Euro	1	Rs.77.18

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	DIV

Report Prepared by :	SPR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--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.

MIRA INFORM REPORT

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