MIRA INFORM REPORT

Report Date :

27.09.2014

IDENTIFICATION DETAILS

Name :	PAMMVI EXPORTS PRIVATE LIMITED (w.e.f. 22.05.2006)
Formerly Known As :	PAMVI EXPORTS PRIVATE LIMITED
Registered Office :	B-504, Remi Bizcourt, 9, Shahindl Estate, Andheri West, Mumbai-400053, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.02.1992
Com. Reg. No.:	11-065442
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U51990MH1992PTC065442
Legal Form :	Private Limited Liability Company
Line of Business :	Importer, Trader and Supplier of High Quality Lighting Items and Engineering Tools.
No. of Employees :	Information decline by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 35000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered for business dealings at usual trade terms and conditions.

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 :	Ms. Reshma
Designation :	Office Executive
Contact No.:	91-22-26732760
Date :	13.09.2014

LOCATIONS

Registered Office :	B-504, Remi Bizcourt, 9, Shahindl Estate, Andheri West, Mumbai-400053, Maharashtra, India
Tel. No.:	91-22-26732760
Fax No.:	91-22-26731901
E-Mail :	info@pammvi.com
Website :	http://www.pammvi.com
Head Office :	C- 501, Remi Bizcourt, 9, Shah Industrial Estate, Veera Desai Road, 400053 Mumbai Maharashtra

DIRECTORS

As on 27.09.2013

Name :

Mr. Viveck Premkumar Gupta

Designation :

Managing director

Address :

4a-3 / 1403, Green Acres, Lokhandwala Complex Andheri West, Mumbai-400053, Maharashtra, India

Date of Appointment :

17.02.1992

DIN No.:

00339348

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	U65990MH1987PTC045253	PAMMVI INVESTMENTS PRIVATE LIMITED	Director	11-11-87	11-11-87	-	Active	NO
2	U45400MH1946PLC005330	PAMVI INDUSTRIES LIMITED	Whole-time director	29-01-90	29-01-90	04-06-07	Active	NO
3	U51900MH1991PTC060284	PAMMVI AVIATION PRIVATE LIMITED	Director	14-02-91	14-02-91	-	Active	NO
4	U65990MH1991PLC064120	PAMMVI CONSTRUCTIONS LIMITED	Director	25-11-91	25-11-91	-	Active	NO
5	U51990MH1992PTC065442	PAMMVI EXPORTS PRIVATE LIMITED	Managing director	17-02-92	17-02-92	-	Active	NO
6	U74140MH1993PTC072668	PAMMVI CONSULTANCY SERVICES LIMITED.	Director	02-07-93	02-07-93	-	Active	NO
7	U67120MH1996PLC103648	PAMMVI ENGINEERING WORKS LIMITED	Whole-time director	01-11-11	30-10-96	-	Active	NO
8	U29248UP1946PTC001465	INDIA SUPPLIES ENGINEERING WORKS PRIVATE LIMITED	Director	06-04-12	06-04-12	-	Active	NO
9	U45203MH2012PTC238197	PROZ CONSTRUCTIONS PRIVATE LIMITED	Director	23-11-12	23-11-12	-	Active	NO

Name :

Mr. Amit Premkumar Gupta

Designation :

Whole-time director

Address :

A/3, 1401 - 1402, Green Acres, Lokhandwala Complex Andheri West, Mumbai-400053, Maharshtra, India

Date of Appointment :

17.02.1992

DIN No.:

00340522

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	U65990MH1987PTC045253	PAMMVI INVESTMENTS PRIVATE LIMITED	Director	11-11-87	11-11-87	-	Active	NO
2	U45400MH1946PLC005330	PAMVI INDUSTRIES LIMITED	Director	29-01-90	29-01-90	04-06-07	Active	NO
3	U51900MH1991PTC060284	PAMMVI AVIATION PRIVATE LIMITED	Director	14-02-91	14-02-91	-	Active	NO
4	U65990MH1991PLC064120	PAMMVI CONSTRUCTIONS LIMITED	Director	25-11-91	25-11-91	-	Active	NO
5	U51990MH1992PTC065442	PAMMVI EXPORTS PRIVATE LIMITED	Whole-time director	17-02-92	17-02-92	-	Active	NO
6	U74140MH1993PTC072668	PAMMVI CONSULTANCY SERVICES LIMITED.	Director	02-07-93	02-07-93	-	Active	NO
7	U67120MH1996PLC103648	PAMMVI ENGINEERING WORKS LIMITED	Whole-time director	01-11-11	30-10-96	-	Active	NO
8	U45203MH2012PTC238197	PROZ CONSTRUCTIONS PRIVATE LIMITED	Director	23-11-12	23-11-12	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Reshma
Designation :	Office Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2013

Names of Shareholders	No. of Shares
Anju Amit Gupta	124975
Smita Vivek Gupta	124950
Meera Premkumar Guptaa	25
Amit Premkumar Gupta	25
Viveck Premkumar Gupta	25
TOTAL	250000

Equity Share Break up (Percentage of Total Equity)

As on 27.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer, Trader and Supplier of High Quality Lighting Items and Engineering Tools.
Products :	· Pir Motion Sensor · Passive Infrared Motion Detector · Pir Presence Sensor · Passive Infrared Occupancy Sensor · Led Motion Sensor Lights · Ultrasonic Motion Sensor · Outdoor Motion Detector · Motion Sensor Switches · Battery Operated Motion Sensor · High Frequency Motion Sensor

GENERAL INFORMATION

Suppliers :

· Ameritek Diagnostics Reagent

· Arts and Crafts (India)

· G T Bhagat

· Kumar Enterprises

· Meditech Srgicals and Diagnostics

· Nano Ditech Corporation

· Tricon Enterprises

· Triveni Engineering Works

Customers :

· Aakriti Packaging

· Amas medical Services

· Binu M. Thomas

· Biomic Inc

· Colton Industries

· Covidien Engineering Services

· Epcos India Private Limited

· Galaxy Polymers

· Institute Of Management Tech

· Jacin Diagnostics

· Jitendra Motors Private Limited

No. of Employees :

Information decline by the management

Bankers :

· ICICI Bank Limited

· HDFC Bank Limited

Facilities :

SECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
Lons from Banks ICICI Bank Limited	--	0.215
Total	--	0.215

Banking Relations :	---
Auditors :
Name :	R. K. KhandelwaL and Company Chartered Accountant
Address :	107/110, Trinity, S.S. Gaikwad Marg, (A. P. Market) Dhobi Talao, Mumbai-400002, Maharashtra, India
Tel. No.:	91-22077101/02
Fax No.:	91-2207 7101
E-Mail :	rkkhandelwal@hotmail.com
PAN No.:	AAEFR0258F
Related Parties :	· Pammvi Engineering Works Limited · Ahan Investments Private Limited · Pamvi Finance Limited · Pamvi Investments Private Limited · Pamvi Aviation Private Limited · System Integrators and Engineers · Pamvi Consultancy Services Limited · Proz Construction Private Limited

CAPITAL STRUCTURE

As on 27.09.2013

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
250000	Equity Shares	Rs.10/- each	Rs. 2.500 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	2.500	2.500	2.500
(b) Reserves & Surplus	6.421	5.611	4.901
(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)	8.921	8.111	7.401
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.215	1.121
(b) Deferred tax liabilities (Net)	0.159	0.185	0.204
(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)	0.159	0.400	1.325
(4) Current Liabilities
(a) Short term borrowings	0.000	2.156	0.710
(b) Trade payables	0.492	0.983	0.929
(c) Other current liabilities	8.678	5.591	4.768
(d) Short-term provisions	0.841	1.297	1.798
Total Current Liabilities (4)	10.011	10.027	8.205
TOTAL	19.091	18.538	16.931
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.593	2.714	3.062
(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	0.370	0.392	0.310
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2.963	3.106	3.372
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.092	3.264	3.619
(c) Trade receivables	2.378	2.928	1.606
(d) Cash and cash equivalents	6.275	5.708	7.561
(e) Short-term loans and advances	4.344	3.475	0.681
(f) Other current assets	0.039	0.057	0.092
Total Current Assets	16.128	15.432	13.559
TOTAL	19.091	18.538	16.931

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	44.472	38.326	38.326
		Other Income	1.024	1.041	1.042
		TOTAL (A)	45.496	39.367	39.368
Less	EXPENSES
		Purchases of Stock-in-Trade	29.339	23.170
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.171	0.356
		Employees benefits expense	6.780	6.749
		Other expenses	7.007	7.118
		TOTAL (B)	43.297	37.393	38.069
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.199	1.974
Less	FINANCIAL EXPENSES (D)		0.005	0.130
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.194	1.844	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.577	0.546
	PROFIT BEFORE TAX (E-F) (G)		1.617	1.298	1.299
Less	TAX (H)		0.807	0.588	0.589
	PROFIT AFTER TAX (G-H) (I)		0.810	0.710	0.710
	Earnings Per Share (Rs.)		3.24	2.84	2.80

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.78	1.80	1.80
Net Profit Margin (PBT/Sales)	(%)	3.64	3.39	3.39
Return on Total Assets (PBT/Total Assets}	(%)	8.47	7.00	7.67
Return on Investment (ROI) (PBT/Networth)		0.18	0.16	0.18
Debt Equity Ratio (Total Debt /Networth)		0.00	0.29	0.25
Current Ratio (Current Asset/Current Liability)		1.61	1.54	1.65

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	2.500	2.500	2.500
Reserves & Surplus	4.901	5.611	6.421
Net worth	7.401	8.111	8.921
long-term borrowings	1.121	0.215	0.000
Short term borrowings	0.710	2.156	0.000
Total borrowings	1.831	2.371	0.000
Debt/Equity ratio	0.247	0.292	0.000

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	38.326	38.326	44.472
		0.000	16.036

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	38.326	38.326	44.472
Profit	0.710	0.710	0.810
	1.85%	1.85%	1.82%

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	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	No
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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 RESULTS

The company's Sales Turnover stood at Rs. 4.472 Millions and other Income stood at Rs. 1.024 Millions the total Expenditure stood at Rs. 3.8789 Millions and hereby earned an income before Tax of Rs. 1.617 Millions. The company has made provision for Taxation and Deferred Tax to the tune of Rs.0.815 Millions and posted a Profit after Tax of Rs.0.810 Millions. The company has transferred total Profit to Reserves and Surplus.

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
SHORT TERM BORROWINGS
Loans from Related Parties:
Pammvi Engineering Works Limited	0.000	2.075
System Integrators and Engineers	0.000	0.081
Total	0.000	2.156

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

· Air Conditioners

· Office Equipment

· Machine Tools

· Compute

· Motor Car

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 records 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. 61.57
UK Pound	1	Rs. 100.42
Euro	1	Rs. 78.44

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
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	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.