MIRA INFORM REPORT

Report Date :

08.11.2014

IDENTIFICATION DETAILS

Name :	SUPERNOVA ENGINEERS LIMITED [w.e.f. 21.04.1995]
Formerly Known As :	SUPERNOVA ENGINEERS PRIVATE LIMITED
Registered Office :	F2, First Floor, Shapath Hexa, Near Sola Bridge, Opposite Gujarat High Court, Sarkhej Gandhinagar Road, Ahmedabad-380060, Gujarat, India
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	02.02.1987
Com. Reg. No.:	04-009346
Capital Investment / Paid-up Capital :	Rs.36.000 Millions
CIN No.: [Company Identification No.]	U31100GJ1987PLC009346
TAN No.: [Tax Deduction & Collection Account No.]	AHNS00113B
PAN No.: [Permanent Account No.]	AACCS6758G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Diesel Generators Sets.
No. of Employees :	125 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 720000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. As per registrar of companies the date of Balance Sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to financials are not available for any source. As per available financial of 2013, general financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings 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 – 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB
Rating Explanation	Moderate Degree of Safety and Moderate Credit Risk.
Date	29.05.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3+
Rating Explanation	Moderate Degree of Safety and High Credit Risk.
Date	29.05.2013

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. Hemant Choksi
Designation :	Marketing Manager
Contact No.:	91-9327140005
Date :	06.11.2014

LOCATIONS

Registered Office :	F2, First Floor, Shapath Hexa, Near Sola Bridge, Opposite Gujarat High Court, Sarkhej Gandhinagar Road, Ahmedabad-380060, Gujarat, India
Tel. No.:	91-79-32422163/26401450/26407792/49009500
Mobile No.:	91-9327140005 [Mr. Hemant]
Fax No.:	91-79-26400004
E-Mail :	hjp@supernoragenset.com hc@supernovagenset.com jms@supernovagenset.com marketing@supernovagenset.com
Website :	http://www.supernovagenset.com
Area :	4000 Sq. Ft
Location :	Owned
Marketing Office :	3^rd Floor, Gopal Palace – ‘A’ Wing, Opposite Ocean Park, Nehru Nagar Cross Road, Ahmedabad, Gujarat, India
Tel. No.:	91-79-32422163/ 32422166/ 26766824
Fax No.:	91-79-26766825
E-Mail :	marketing@supernovagenset.com
Factory 1 :	Rajpur 1470/1, Village, Rajpur, Taluka, Kadi, District Mehsana, Gujarat, India
Tel. No.:	91-2764-324852/ 856
Fax No.:	91-2764-278469
Area :	10000 Sq. Mtr
Location :	Owned
Factory 2 :	Silvasa Survey No. 263/2/1, Plot No. 1, Village Sayli, Silvassa, Dadra and Nagar Haveli, India
Tel. No.:	91-260-2996630/ 32
Fax No.:	91-260-2996631
Area :	40000 Sq. Ft
Location :	Owned

DIRECTORS

As on 30.09.2013

Name :

Mr. Samir Vasudev Mistry

Designation :

Managing Director

Address :

14, Pushpadhanvan Bungalows, Opposite Taksheela Flats, Vastrapur, Ahmedabad-380015, Gujarat, India

Date of Birth/Age :

15.11.1961

Qualification :

Diploma in Electric Engineering

Date of Appointment :

01.12.2013

DIN :

01376697

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	U31100GJ1987PLC009346	SUPERNOVA ENGINEERS LIMITED	Managing director	01/12/2013	02/02/1987	-	Active	NO
2	U31100GJ2005PTC046544	SUPERNOVA GENSET PRIVATE LIMITED	Director	04/08/2005	04/08/2005	-	Active	NO
3	U50100GJ2008PTC053617	NIXYNOVA MOTOREN PRIVATE LIMITED	Director	17/04/2008	17/04/2008	-	Active	NO
4	U50100GJ2005PTC045283	AUTONOVA MOTORS PRIVATE LIMITED	Director	30/09/2009	09/10/2008	-	Active	NO

Name :

Mr. Unmesh Vasudev Mistry

Designation :

Whole Time Director

Address :

14, Pushpadhanvan Bungalows, Opposite Taksheela Flats, Vastrapur, Ahmedabad-380015, Gujarat, India

Date of Birth/Age :

10.11.1965

Qualification :

B.Com

Date of Appointment :

01.08.2009

DIN :

01637552

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	U31100GJ1987PLC009346	SUPERNOVA ENGINEERS LIMITED	Whole-time director	01/08/2009	02/02/1987	-	Active	NO
2	U31100GJ2005PTC046544	SUPERNOVA GENSET PRIVATE LIMITED	Director	04/08/2005	04/08/2005	-	Active	NO
3	U50100GJ2008PTC053617	NIXYNOVA MOTOREN PRIVATE LIMITED	Director	17/04/2008	17/04/2008	-	Active	NO
4	U50100GJ2005PTC045283	AUTONOVA MOTORS PRIVATE LIMITED	Director	30/09/2009	09/10/2008	-	Active	NO

Name :

Mr. Vasudev Keshavlal Mistry

Designation :

Whole Time Director

Address :

14, Pushpadhanvan Bungalows, Opposite Taksheela Flats, Vastrapur, Ahmedabad-380015, Gujarat, India

Date of Birth/Age :

03.10.1939

Qualification :

Diploma

Date of Appointment :

01.08.2009

DIN :

01376968

KEY EXECUTIVES

Name :	Mr. Hemant Choksi
Designation :	Marketing Manager

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Samir Vasudev Mistry	654750
Unmesh Vasudev Mistry	669900
Nitin C Thakkar	150000
Vasudev Keshavlal Mistry	235600
Surekhaben Mistry	211100
Trupti Mistry	387150
Hita Mistry	228000
Samir Vasudev Mistry HUF	400600
Unmesh Vasudev HUF	17100
Vasudev Keshavlal Mistry HUF	180800
Supernova Systems Private Limited, India	465000
Total	3600000

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	12.92
Directors or relatives of Directors	82.91
Other top fifty shareholders	4.17
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Diesel Generators Sets.

Products :

PRODUCT DESCRIPTION	ITEM CODE
ELECTRIC GENERATING SE T S A N D ROTARY CONVERTERS GENRTNG SETS WTH CMPRSSN IGNTN INTRNL CMBSTN P S T N ENGNS (DIESL/SEMI/DIESL ENGNS) OF AN OUTPUT NT EXCDNG 75 KVA	8502

Exports :

Products :

Finished Goods

Countries :

• Srilanka
• Nepal
• Tanzania

Imports :

Products :

Raw Material

Countries :

• UK
• Swedan

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

End Users

No. of Employees :

125 (Approximately)

Bankers :

· Development Credit Bank Limited, “Prerna Arcade”, Ground Floor, Opposite Doctor House, Near Parimal Garden, C G Road, Ahmedabad, - 380006 Gujarat, India

· Bank of India, Ahmedabad Corporate Banking Branch, 2^nd Floor, Bank of India Building, Bhadra, Ahmedabad – 380001, Gujarat, India

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Term loans from banks	28.614	31.769
SHORT TERM BORROWING
Loans repayable on demand	150.608	75.084
Total	179.222	106.853

Banking Relations :	---
Auditors :
Name :	Talati and Talati Chartered Accountant
Address :	Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad-380009, Gujarat, India
Tel. No.:	91-79-27544571 / 72
Fax No.:	91-79-27542233 / 30084575
PAN No:	AAAFT4520A
Other Related Parties :	Supernova Systems Private Limited Nixyhova Motors Private Limited, Ahmedabad, Near Grand Bhagwati Autonova Motors Private Limited, Ahmedabad, Bear Grand Bhavan

CAPITAL STRUCTURE

After 30.09.2013

Authorised Capital : Rs. 52.500 Millions

Issued, Subscribed & Paid-up Capital : Rs. 46.250 Millions

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5250000	Equity Shares	Rs.10/- each	Rs. 52.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3600000	Equity Shares	Rs.10/- each	Rs. 36.000 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	36.000	36.000	36.000
(b) Reserves & Surplus	215.185	204.686	193.134
(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)	251.185	240.686	229.134
(3) Non-Current Liabilities
(a) long-term borrowings	28.614	31.769	24.551
(b) Deferred tax liabilities (Net)	19.122	18.024	19.010
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.794	2.033	1.467
Total Non-current Liabilities (3)	48.530	51.826	45.028
(4) Current Liabilities
(a) Short term borrowings	170.326	200.536	90.296
(b) Trade payables	440.833	202.322	246.508
(c) Other current liabilities	36.607	36.300	57.111
(d) Short-term provisions	2.103	1.678	1.401
Total Current Liabilities (4)	649.869	440.836	395.316
TOTAL	949.584	733.348	669.478
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	151.757	161.910	177.894
(ii) Intangible Assets	0.640	0.907	1.174
(iii) Capital work-in-progress	17.098	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.166	0.166	0.166
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8.193	10.504	13.886
(e) Other Non-current assets	0.119	0.082	0.096
Total Non-Current Assets	177.973	173.569	193.216
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	201.814