MIRA INFORM REPORT

Report No. :	314749
Report Date :	01.04.2015

IDENTIFICATION DETAILS

Name :	DYNAMIC AUTOLOOMS INDIA PRIVATE LIMITED
Registered Office :	Plot No.2, Road No.1, Phase-1, GIDC At-Kathwada, Ahmedabad – 382430, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.06.1993
Com. Reg. No.:	04-019694
Capital Investment / Paid-up Capital :	Rs.14.000 Million
CIN No.: [Company Identification No.]	U29199GJ1993PTC019694
TAN No.: [Tax Deduction & Collection Account No.]	AHMD00051C
PAN No.: [Permanent Account No.]	AAACD6563A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of rapier loom machinery.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for mediocre 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Not Available

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 :	Ms. Sumita
Designation :	Marketing Department
Contact No.:	91-9879844411
Date :	30.03.2015

LOCATIONS

Registered Office / Warehouse :	Plot No.2, Road No.1, Phase-1, GIDC At-Kathwada, Ahmedabad – 382430, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9879844411 (Ms. Sumita)
Fax No.:	Not Available
E-Mail :	sales@dynamiclooms.com
Website :	www.dynamiclooms.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Patel Vasantbhai Somabhai

Designation :

Director

Address :

1, Shraddha, Manichandra Society-V, Opposite Sarthi Row House, Memnagar, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

10.06.1953

Date of Appointment :

01.04.2004

DIN No.:

00277717

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	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	01/04/2004	01/04/2004	-	Active	NO
2	U29268GJ2008PTC055573	P T DYNAMIC TEXTILE MACHINERY PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
3	U45203GJ2010NPL061200	KIA INFRASTRUCTURES DEVELOPMENT LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO

Name :

Mr. Patel Mittal Vasantbhai

Designation :

Director

Address :

1, Shraddha, Manichandra Society-V, Opposite Sarthi Row House, Memnagar, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

12.09.1977

Date of Appointment :

12.06.1997

DIN No.:

00277745

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	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	12/06/1997	12/06/1997	-	Active	NO
2	U29268GJ2008PTC055573	P T DYNAMIC TEXTILE MACHINERY PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
3	U72200GJ2009PTC055850	SOLTRACK TECHNOLOGIES PRIVATE LIMITED	Director	07/01/2009	07/01/2009	-	Active	NO

Name :

Mr. Modi Biren Ambalal

Designation :

Director

Address :

Aashirvad, Dharmjivan Society, Hirawadi Road, Mahavir Nagar, Saijpur Bogha, Ahmedabad - 382345, Gujarat, India

Date of Birth/Age :

15.01.1973

Date of Appointment :

01.04.2013

DIN No.:

00282658

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	U29259GJ1991PTC016388	DYNA-TEX ENTERPRISES PVT LTD	Managing director	01/06/2002	01/06/2002	-	Active	NO
2	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	01/04/2013	01/04/2013	-	Active	NO

Name :

Mr. Modi Vijay Ambalal

Designation :

Director

Address :

K/102, Kedarkrupa Apartment, Opposite Gail Tower, New Rander Road, Surat - 394505, Gujarat, India

Date of Birth/Age :

15.01.1973

Date of Appointment :

01.04.2004

DIN No.:

00282840

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	U29119GJ1992PTC018323	DYNAMIC EQUIPMENTS PVT LTD	Managing director	23/09/1992	23/09/1992	-	Active	NO
2	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	01/04/2004	01/04/2004	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Sumita
Designation :	Marketing Department

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Patel Archana Jointly Devikaben V. Patel	2105
Vasantbhai S. Patel Jointly Vasantbhai S. Patel HUF	29780
Patel Mittal	44305
Modi Biren Jointly Biren A. Modi HUF	17900
Modi Hetal	45
Modi Vijay	18035
Meenaben V. Patel	16300
Vasantbhai S. Patel	5450
Ambalal Modi (Karata of Ambalal Modi HUF)	6000
Devikaben Patel	50
Patel Mittal V	10
Ambalal Modi	10
Vijay A. Modi	10
Total	140000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of rapier loom machinery.
Products :	Rapier Loom Machinery
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Countries :	· China · Bangladesh · Korea
Terms :
Selling :	Cheque and Credit
Purchasing :	Cheque and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

30 (Approximately)

Bankers :

Banker Name :	Union Bank OF India
Branch :	Dr. S. R. Marg Branch, Darpan Cross Road, Ahmedabad - 380014, Gujarat, India
Person Name (With Designation) :	Not Divulged
Contact Number :	Not Divulged
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

· HDFC Bank Limited, Ahmedabad, Gujarat, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
From Banks	13.177	6.818
Short Term Borrowings
From Banks	0.000	13.693
Total	13.177	20.511

Banking Relations :	--
Auditors :
Name :	B.A. Rajpara and Company Chartered Accountants
Address :	707, Samruddhi, Opposite Sakar III, Navjivan Post, Ahmedabad – 380014, Gujarat, India
Tel. No.:	91-79-27541840
E-Mail :	barajpara11@gmail.com
PAN No.:	AAOPR5223L
Membership :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/- each	Rs.15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
140000	Equity Shares	Rs.100/- each	Rs.14.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	14.000	14.000	14.000
(b) Reserves & Surplus	33.078	28.020	22.648
(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)	47.078	42.020	36.648
(3) Non-Current Liabilities
(a) long-term borrowings	16.191	41.974	43.903
(b) Deferred tax liabilities (Net)	1.873	1.606	1.573
(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)	18.064	43.580	45.476
(4) Current Liabilities
(a) Short term borrowings	0.000	13.693	20.014
(b) Trade payables	66.501	25.393	27.018
(c) Other current liabilities	68.508	28.825	13.032
(d) Short-term provisions	19.249	2.466	2.180
Total Current Liabilities (4)	154.258	70.377	62.244
TOTAL	219.400	155.977	144.368
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	68.963	64.185	61.306
(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	0.003	0.028	0.003
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.456	3.456	1.419
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	72.422	67.669	62.728
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	36.475	49.093	52.309
(c) Trade receivables	35.764	27.157	24.176
(d) Cash and cash equivalents	10.301	4.834	0.410
(e) Short-term loans and advances	64.438	7.224	4.745
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	146.978	88.308	81.640
TOTAL	219.400	155.977	144.368

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		496.347	268.364	203.388
		Other Income		NA	NA	NA
		TOTAL		NA	NA	NA
Less	EXPENSES			NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			39.917	14.440	13.379
Less	DEPRECIATION/ AMORTISATION			7.132	6.570	6.880
	PROFIT/(LOSS) BEFORE TAX			32.785	7.870	6.499
Less	TAX			11.347	2.498	2.302
	PROFIT/(LOSS) AFTER TAX			21.438	5.372	4.197
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			25.865	20.493	16.296
Less	APPROPRIATIONS
			Transfer to General Reserve	4.500	0.000	0.000
			Proposed Dividend	7.000	0.000	0.000
			Interim Dividend	7.000	0.000	0.000
			Provision for Dividend Tax	2.379	0.000	0.000
	BALANCE CARRIED TO THE B/S			26.424	25.865	20.493
	Earnings Per Share (Rs.)			153.13	--	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	4.32	2.00	2.06
Return on Total Assets (PBT/Total Assets)	(%)	14.94	5.05	4.50
Return on Investment (ROI) (PBT/Networth)		0.70	0.19	0.18
Debt Equity Ratio (Total Debt /Networth)		0.34	1.32	1.74
Current Ratio (Current Asset/Current Liability)		0.95	1.25	1.31

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	14.000	14.000	14.000
Reserves & Surplus	22.648	28.020	33.078
Net worth	36.648	42.020	47.078
long-term borrowings	43.903	41.974	16.191
Short term borrowings	20.014	13.693	0.000
Total borrowings	63.917	55.667	16.191
Debt/Equity ratio	1.744	1.325	0.344

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	203.388	268.364	496.347
		31.947	84.953

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	203.388	268.364	496.347
Profit	4.197	5.372	21.438
	2.06%	2.00%	4.32%

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)	Yes
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

REVIEW OF OPERATION:

During the year subject has been able to achieve turnover of Rs.496.347 Million against Rs.268.364 Million in the last year and subject has earned profit of Rs.21.438 Million against profit of Rs.5.372 Million in the last year.

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
From Directors and Members	3.014	35.156
Total	3.014	35.1561

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10148492	25/02/2008	41,500,000.00	Union Bank of India	Dr. S. R. Marg Branch,, Darpan Cross Road, Ahmedabad, Gujarat - 380014, India	A33320151

FIXED ASSETS:

· Pattern and Components

· Plant and Machinery

· Computer System

· Vehicle

· Electric Fan

· Furniture and Fixture

· Office Equipment

· Building Kathwara

· Electrification

· Dies and Tools

· Air Condition

· Machinery

· Moulding Box

· Land

· Software Technology

· Office Building Surat

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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUB
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.