MIRA INFORM REPORT

Report Date :

14.10.2014

IDENTIFICATION DETAILS

Name :	SFS FIRE AND SECURITY PRIVATE LIMITED (w.e.f 19.09.2014)
Formerly known as :	SURELAND FIRE AND SECURITY PRIVATE LIMITED (w.e.f 26.03.2012) SURELAND FIRE AND SECURITY INDIA PRIVATE LIMITED
Registered Office :	Plot No.293, Kehar Singh Estate, West end Marg, Said-Ul-Ajaib, New Delhi-110030, Delhi
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	22.04.2009
Com. Reg. No.:	55-189610
Capital Investment / Paid-up Capital :	Rs.33.000 millions
CIN No.: [Company Identification No.]	U74900DL2009PTC189610
Legal Form :	Private limited liability company.
Line of Business :	The Company is engaged in the Business of Trading, Erection, Commissioning, Installation and Project Management services
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 160000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company appears to be gradually improving its financial profile marked by infusion of capital from the part of promoters which has further strengthen the capital base. Moreover, the management has received some outstanding receivable resulting into sufficient cash inflows, clearing off some liabilities further backing its liquidity position. Management has achieved an acceptable revenue base as well as net profitability resulting into wiping off accumulated losses during FY13. However, trade relation seem to be improving. Business is active. Payment terms are reported as slow but correct. In view of on time promoter and management support, 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	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 DENIED BY

Name :	Mr. Pankaj Dulhani
Designation :	Manager
Contact No.:	91-11-40506600
Date :	09.10.2014

LOCATIONS

Registered Office :	Plot No.293, Kehar Singh Estate, West end Marg, Said-Ul-Ajaib, New Delhi-110030, Delhi, India
Tel no. :	91-11-40506600
Fax no. :	Not Available
E-Mail :	ajaybaijal@aliedenergy.in

DIRECTORS

Name :

Mr. Shahid Syed Ahmad

Designation :

Director

Address :

C-79, Sarita Vihar, New Delhi-110076, Delhi, India

Date of Birth/Age :

10.11.1955

Date of Appointment :

22.04.2009

DIN No.:

00382956

Name :

Mr. Amit Kumar

Designation :

Director

Address :

C-96, First Floor, Sector-54, Suncity, Phase-2, Gurgaon-122002, Haryana, India

Date of Birth/Age :

28.01.1981

Date of Appointment :

22.04.2009

DIN No.:

00531844

Name :

Mr. Anil Kumar Kumra

Designation :

Director

Address :

C-96, First Floor, Sector-54, Suncity, Phase-2, Gurgaon-122002, Haryana, India

Date of Birth/Age :

04.03.1953

Date of Appointment :

22.04.2009

DIN No.:

01713135

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	L25209HR1951PLC001694	NUCHEM LIMITED	Director	28/04/2001	28/04/2001	-	Active	NO
2	U29197DL1998PTC095737	ZEETECH SYSTEMS PRIVATE LIMITED	Director	30/06/2001	30/06/2001	-	Active	NO
3	U40105DL2005PTC133409	ALLIED ENERGY SYSTEMS PRIVATE LIMITED	Director	25/02/2005	25/02/2005	-	Active	NO
4	U70109DL2006PTC155875	ALTECH INFRASTRUCTURE PRIVATE LIMITED	Director	23/11/2006	23/11/2006	-	Active	NO
5	U74140DL2007PTC171973	TECHKNOW ENVIRONMENTAL AND SUSTAINABLE SOLUTIONS PRIVATE LIMITED	Director	28/12/2007	28/12/2007	16/09/2008	Active	NO
6	U74900DL2009PTC189610	SFS FIRE & SECURITY PRIVATE LIMITED	Managing director	01/07/2014	22/04/2009	-	Active	NO
7	U29253DL2010PTC199330	FINEHOPE ALLIED ENGINEERING PRIVATE LIMITED	Director	20/02/2010	20/02/2010	-	Active	NO
8	U74140DL2010PTC208472	FINEHOPE ALLIED ENGINEERING (INDIA) PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
9	U70100DL2010PTC206263	ANARKALI DEVELOPERS PRIVATE LIMITED	Director	29/09/2011	11/02/2011	-	Active	NO
10	U29200HR2011PTC044071	ALLIED CONSORTIUMS PRIVATE LIMITED	Director	12/10/2011	12/10/2011	-	Active	NO
11	U74200KL2011PTC029836	CONSILIUM ENGINEERS INDIA PRIVATE LIMITED	Additional director	23/07/2014	23/07/2014	-	Active	NO

Name :

Mr. Rohit Kumra

Designation :

Director

Address :

C-96, First Floor, Sector-54, Suncity, Phase-2, Gurgaon-122002, Haryana, India

Date of Birth/Age :

27.04.1984

Date of Appointment :

02.04.2011

DIN No.:

02505177

Name :

Mr. Bin Lin

Designation :

Director

Address :

S-128, Doreen Dr, Temple City, Ca 91780, California -91780, Canada

Date of Birth/Age :

05.03.1965

Date of Appointment :

15.11.2011

DIN No.:

03635087

KEY EXECUTIVES

Name :	Mr. Pankaj Dulhani
Designation :	Manager
Name :	Kapil Saluja and Associates
Designation :	Company Secretary

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares
Rohit Kumra	5000
Amit kumra	5000
Futech projects private limited	50000
Allied Energy Systems Private Limited	40000
Anil kumar kumra	50000
Poonam Kumra	62500
China Fire Protection Group Inc	12200
Total	224700

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	5.43
Bodies corporate	40.00
Directors or relatives of Directors	54.57
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the Business of Trading, Erection, Commissioning, Installation and Project Management services

GENERAL INFORMATION

Customer:

Domestic Customers

• Bharat Aluminum Company Limited
• National Thermal Power Corporation Limited
• Jhajjar Power Limited
• KSK Mahanadi Power company Limited (KMPCL)
• Lanco Infratech Limited
• Jindal Steel and Power Limited
• Talwandi Sabo Power Limited (TSPL)
• GMR Kamalanga Energy Limited

No. of Employees :

Not Divulged

Bankers :

State Bank of Bikaner and Jaipur CSC, Sector-D, Pocket-II, Vasant Kunj, New Delhi-110070, Delhi, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loan from bank of baroda (secured against hypothecation of car)	0.230	0.323
Vehicle loans from volkswagan finance Limited (secured against hypothecation of car)	2.184	0.000
Vehicle loan from magma fincorp limited (secured against hypothecation of car)	0.480	0.000
Vehicle loan from Tata capital limited (secured against hypothecation of car)	0.199	0.589
Total	3.093	0.912

Banking Relations :	--
Auditors :
Name :	H.K Associate Chartered Accountant
Address :	I-153, G.F Ashok Vihar,New Delhi-110052, Delhi, India
Tel No.:	91-42081400/01/02
Mobile No :	9810299978
Email :	hkarora100@yahoo.co.in hkrora100@rediffmil.com
PAN No. :	ADPA4579P
Related Parties :	Allied Energy System (Private) Limited Altech Infrastructure India Private Limited Tritech Infrastructure (India) Private Limited Anarkali Developers Private Limited First winner Management Limited

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital : Rs. 70.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 67.697 Millions

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
224700	Equity shares	Rs.10/- each	Rs.2.247 millions

As on 30.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3300000	Equity shares	Rs.10/- each	Rs.33.000 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	33.000	2.247	2.247
(b) Reserves & Surplus	6.918	(0.236)	(2.148)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.253	0.253
Total Shareholders’ Funds (1) + (2)	39.918	2.264	0.352
(3) Non-Current Liabilities
(a) long-term borrowings	24.112	48.300	16.774
(b) Deferred tax liabilities (Net)	0.064	(0.609)	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)	24.176	47.691	16.774
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	15.122	43.354	15.743
(c) Other current liabilities	76.358	93.036	23.788
(d) Short-term provisions	1.713	1.443	0.205
Total Current Liabilities (4)	93.193	137.833	39.736
TOTAL	157.287	187.788	56.862
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.150	8.101	4.245
(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	0.640
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.177	0.219	0.329
Total Non-Current Assets	12.327	8.320	5.214
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	55.809	32.428	18.692
(c) Trade receivables	43.072	130.802	24.119
(d) Cash and cash equivalents	2.243	4.775	1.390
(e) Short-term loans and advances	43.604	11.447	7.249
(f) Other current assets	0.232	0.016	0.198
Total Current Assets	144.960	179.468	51.648
TOTAL	157.287	187.788	56.862

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Sales Turnover	261.207	223.270	40.189
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	7.154	1.912	0.288
	Earnings / (Loss) Per Share (Rs.)	2.17	NA	NA

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Liability/Networth)	0.60	(0.27)	47.65
Current Ratio (Current Asset/Current Liability)	1.56	1.30	1.30

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	2.247	2.247	33.000
Reserves & Surplus	(2.148)	(0.236)	6.918
Net worth	0.099	2.011	39.918
long-term borrowings	16.774	(0.609)	24.112
Short term borrowings	0.000	0.000	0.000
Total borrowings	16.774	(0.609)	24.112
Debt/Equity ratio	169.434	(0.303)	0.604

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 Turnover	40.189	223.270	261.206
		455.550	16.991

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 Turnover	40.189	223.270	261.206
Profit	0.288	1.912	7.154
	0.72%	0.86%	2.74%

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	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	No
16]	Details of sister concerns	Yes
17]	Major suppliers	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL RESULT AND OPERATIONS

During the year, the company achieved turnover of Rs. 261.207 Millions as compared to Rs. 223.270 Millions in the last ear ad earned net profit after tax Rs. 7.154 Millions as compared to Rs. 1.912 Millions in the last year.

UNSECURED LOANS

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. In Millions)
Long Term Borrowing
Loan and advance from related parties
Anil kurma	2.210	1.500
Allied Energy Systems Private Limited	0.395	0.675
Anarkali developers private limited	0.000	1.350
Tritech infrastructure private limited	1.831	1.887
Loan and advance from other parties
China fire protection group	0.000	11.100
Sureland industrial fire safety	0.000	5.673
Global agencies private limited	2.500	2.500
IFCI factors limited	9.083	20.202
Shivani securities limited	2.500	2.500
Indu devi mohta	1.500	0.000
Mec securities limited	1.000	0.000
Total	21.019	47.388

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10446245	12/08/2013	45,000,000.00	STATE BANK OF BIKANER & JAIPUR	CSC, SECTOR-D, POCKET-II, VASANT KUNJ, NEW DELHI,  Delhi - 110070, INDIA	B83648345
2	10416938	04/03/2013	88,650,000.00	STATE BANK OF BIKANER AND JAIPUR	F-2/17, KRISHNA NAGAR, DELHI, Delhi - 110051, IND  IA	B72326531

FIXED ASSETS

• Land and building
• Plant and machinery
• Furniture and fixture
• Computers
• Machinery
• Vehicle
• Camera

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 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.61.24
UK Pound	1	Rs.98.68
Euro	1	Rs.77.60

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUB
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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		34

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.