MIRA INFORM REPORT

Report Date :

04.11.2014

IDENTIFICATION DETAILS

Name :	UNICORN POLES PRIVATE LIMITED
Registered Office :	3-4, COMMERCIAL COMPLEX, Rani Bazar Industrial Area, Bikaner – 334001, Rajasthan
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.04.2009
Com. Reg. No.:	17-028766
Capital Investment / Paid-up Capital :	Rs. 5.000 Millions
CIN No.: [Company Identification No.]	U26956RJ2009PTC028766
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer Of PCC Cement Poles.
No. of Employees :	[3 – Permanent and 30 – Contract Basis = 33] (Approximately)

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
Comments :	Subject is an established company having moderate track record. The company has incurred some accumulated losses during 2014, further the rating also takes into consideration company’s small scale of operation. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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	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

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Rajesh Kallani
Designation :	Director
Contact No.:	91-9434006783
Date :	01.11.2014

LOCATIONS

Registered Office :	3-4, COMMERCIAL COMPLEX, Rani Bazar Industrial Area, Bikaner – 334001, Rajasthan, India
Tel. No.:	Not Available
Mobile No.:	91-9434006783 (Mr. Rajesh Kallani)
Fax No.:	Not Available
E-Mail :	unicornsiliguri@gmail.com csreena7@gmail.com
Factory :	P.O Nemal, Guraj Jot, Madigara, Darjeeling. Siliguri – 734010, West Bengal, India

/DIRECTORS

As on 30.09.2013

Name :

Mr. Anand Lahoti

Designation :

Director

Address :

Anand Lahoti, Doom Dooma, Tinsukia – 786151, Assam, India

Date of Appointment :

28.04.2009

DIN No.:

492782

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	U74899DL1991PTC044693	UTILITY MERCHANTS PRIVATE LIMITED	Director	01/09/2001	01/09/2001	-	Active	NO
2	U74899DL1994PTC057964	R S IMPEX PRIVATE LIMITED	Director	01/09/2001	01/09/2001	-	Active	NO
3	U74899DL1991PTC046427	VASUDHA EXPORTS PRIVATE LIMITED	Director	01/09/2001	01/09/2001	-	Active	NO
4	U26933RJ2004PTC019256	IMPERIAL CERAMICS PRIVATE LIMITED	Director	21/12/2004	21/12/2004	-	Active	NO
5	U20101AR1979PTC001794	CHOWKHAM SAW & VENEER MILLS PVT LTD	Director	17/08/2005	17/08/2005	-	Active	NO
6	U67120RJ1995PTC009669	ANKURITA TRADEFIN PVT LTD	Director	01/01/2008	01/01/2008	-	Active	NO
7	U26956RJ2009PTC028766	UNICORN POLES PRIVATE LIMITED	Director	28/04/2009	28/04/2009	-	Active	NO
8	U26943RJ1990PTC005624	SHYAM CEMENT PRIVATE LIMITED	Director	01/06/2012	01/06/2012	-	Active	NO

Name :

Mr. Anurag Mundhra

Designation :

Director

Address :

Shree Bhawan, Outside Nathusar Gate, Bikaner – 334001, Rajasthan, India

Date of Appointment :

28.04.2009

DIN No.:

1508641

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	U45201RJ2006PTC022692	MADANMOHAN PROPERTIES PRIVATE LIMITED	Director	26/11/2007	26/11/2007	-	Active	NO
2	U26956RJ2009PTC028766	UNICORN POLES PRIVATE LIMITED	Director	28/04/2009	28/04/2009	-	Active	NO
3	U51109RJ2010PTC031709	AEON MEASUREMENT SYSTEMS PRIVATE LIMITED	Director	08/05/2010	08/05/2010	-	Active	NO
4	U26933RJ1965PTC001193	BIKANER CERAMICS PRIVATE LIMITED	Director	02/05/2011	02/05/2011	-	Active	NO

Name :

Mr. Rajesh Kallani

Designation :

Director

Address :

C/O LT. J. Kallani, Agresen Road, Opposite Durga Mandir, Siliguri – 734005, West Bengal, India

Date of Birth/Age :

25.08.1963

Date of Appointment :

08.05.2009

DIN No.:

02643813

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	U26956RJ2009PTC028766	UNICORN POLES PRIVATE LIMITED	Director	08/05/2009	08/05/2009	-	Active	NO
2	U26911RJ2007PTC024612	IMPERIAL PORCELAIN PRIVATE LIMITED	Director	01/09/2011	01/09/2011	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Anurag Mundhra	10000
Anand Lahoti	75000
Madan Mohan Properties Private Limited	20000
Shree madan Mohan Propcorn Private Limited	50000
Rekha Kallani	50000
PradeepKallani	32500
PradeepKallani	28000
Dilip Kallani	23000
Rajesh Kallani	11500
Sakuntala Kallani	5000
Bhawani Shanker Acharya	32500
Karni Dan Charan	27500
Bhawani ShankerSharma	20000
Shitla Prasad Singh	15000
Kamal Narayan Harsh	17000
Hari Das Chhangani (HUF)	8000
Anandi Devi Lahoti	50000
R.K. lahoti	25000
Total	500000

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	20.00
Directors or relatives of Directors	52.00
Other top fifty shareholders	28.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer Of PCC Cement Poles.
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30 Days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and Manufacturer

No. of Employees :

[3 – Permanent and 30 – Contract Basis = 33] (Approximately)

Bankers :

• Punjab National Bank, K.E.M. Road, Bikaner – 334001, Rajasthan, India
• PNB Bank

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loans and Advances
PNB Bank CC A/c 1955	4.593	5.489
PNB Bank CC A/c 0743	0.520	0.100
Total	5.113	5.589

Banking Relations :	---
Auditors :
Name :	Daga and company Chartered Accountant
Address :	Gangashahar Road, Bikaner – 334001, Rajasthan, India
Tel. No.:	91-151-2205797/2206797
E-Mail :	taxpert797@gmail.com
PAN No.:	AACFD3616M

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 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	5.000	5.000	5.000
(b) Reserves & Surplus	(0.108)	(0.167)	(0.216)
(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)	4.892	4.833	4.784
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.067
(b) Deferred tax liabilities (Net)	0.091	0.067	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)	0.091	0.067	0.067
(4) Current Liabilities
(a) Short term borrowings	18.345	17.471	10.725
(b) Trade payables	1.443	6.540	1.183
(c) Other current liabilities	0.351	0.284	0.059
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	20.139	24.295	11.967
TOTAL	25.122	29.195	16.818
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.540	3.798	4.434
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.215	0.223	0.222
Total Non-Current Assets	4.755	4.021	4.656
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.066	8.028	5.352
(c) Trade receivables	9.348	15.416	4.522
(d) Cash and cash equivalents	0.372	0.957	1.586
(e) Short-term loans and advances	0.581	0.696	0.545
(f) Other current assets	0.000	0.077	0.157
Total Current Assets	20.367	25.174	12.162
TOTAL	25.122	29.195	16.818

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income			0.000
	Other Income			0.000
	TOTAL	39.527	32.126	0.000
Less	EXPENSES	39.432	31.420	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	Expenses including depreciation and financial expenses	0.706	0.806 including Expenses and financial expenses
Less/ Add	DEPRECIATION/ AMORTISATION		0.636	0.741
	PROFIT/ (LOSS) BEFORE TAX	0.095	0.070	0.065
Less	TAX	0.043	0.022	0.019
	PROFIT/ (LOSS) AFTER TAX	0.052	0.048	0.046
	Earnings / (Loss) Per Share (Rs.)	0.104	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.38	0.24	0.53
Return on Investment (ROI) (PBT/Networth)		0.02	0.01	1.36
Debt Equity Ratio (Total Debt /Networth)		3.75	3.61	2.26
Current Ratio (Current Asset/Current Liability)		1.01	1.04	1.02

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	5.000	5.000	5.000
Reserves & Surplus	(0.216)	(0.167)	(0.108)
Net worth	4.784	4.833	4.892
long-term borrowings	0.067	0.000	0.000
Short term borrowings	10.725	17.471	18.345
Total borrowings	10.792	17.471	18.345
Debt/Equity ratio	2.256	3.615	3.750

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Total Income	32.126	39.527
		23.037

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Total Income	32.126	39.527
Profit	0.048	0.052
	0.15%	0.13%

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	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 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loans and Advances
From director and their relatives	13.232	11.882
Total	13.232	11.882

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10396919	18/12/2012	6,000,000.00	Punjab National Bank	K.E.M. Road, Bikaner, Rajasthan - 334001, INDIA	B65860355

* Date of charge modification

FIXED ASSETS

• Computer
• Plant and Machinery
• Office Equipment
• Furniture and Fittings
• Electric Installation

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.61.41
UK Pound	1	Rs.98.06
Euro	1	Rs.77.67

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
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	2
--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/NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.