MIRA INFORM REPORT

Report No. :	314321
Report Date :	30.03.2015

IDENTIFICATION DETAILS

Name :	HVL ENGINEERS PRIVATE LIMITED
Registered Office :	68 B, Pocket A – 1, Mayur Vihar Phase – III, Delhi – 110 096
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.04.2009
Com. Reg. No.:	55-189885
Capital Investment / Paid-up Capital :	Rs.0.550 Million
CIN No.: [Company Identification No.]	U29219DL2009PTC189885
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of Material Handling Equipments, Plant and Machinery, Conveyors etc.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 4800
Status :	Small company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities is limited. Trade relations are fair. Business is active. Payment terms are slow but correct. 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 – 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

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 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Lokesh
Designation :	Director
Contact No.:	91-7817087384
Date :	27.03.2015

LOCATIONS

Registered Office :	68 B, Pocket A – 1, Mayur Vihar Phase – III, Delhi – 110 096, India
Tel. No.:	91-120-3052379
Mobile No.:	91-7817087384 (Mr. Lokesh)
Fax No.:	91-120-3052379
E-Mail :	acopicnoida@yahoo.com hviengineers@gmail.com
Location :	Owned
Factory :	D-55, Sector-10, Dist. Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Lokesh Sharma
Designation :	Director
Address :	68 B, Pocket A – 1, Mayur Vihar Phase – III, Delhi – 110 096, India
Date of Birth/Age :	08.08.1985
Date of Appointment :	30.04.2009
DIN No.:	02428843
Name :	Ms. Swati Sharma
Designation :	Additional Director
Address :	B-43,Sector – 53, Tehsil – Dadri, Gautambudh Nagar, Noida – 201 301, Uttar Pradesh , India
Date of Birth/Age :	21.10.1988
Date of Appointment :	15.11.2010
DIN No.:	03336217

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage
Lokesh Sharma	50000	90.91
Swati Sharma	5000	9.09
Total	55000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and fabricator S.S., M.S and Alluminium, all types Material Handling Equipments, Plant and Machinery, Conveyors etc.
Products :	· Material Handling Equipments · Plant and Machinery · Conveyors
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit (30 Days/ 60 Days)
Purchasing :	Cash and Credit (30 Days/ 60 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Apollo Tyres
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesalers and Retailers

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

No. of Employees :

30 (Approximately)

Bankers :

Bank of India, Noida Branch, E-52/B, Sector-9, Noida – 201 301, Uttar Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Short Term Borrowings
Bank of India 000211 Loan Account	0.583	1.083
Bank of India 11000049 loan Account	1.102	0.026
Bank of India 10000050	0.001	0.003
ATC TIRES Private Limited	1.280	0.000
Total	2.966	1.112

Auditors :
Name :	Gupta Kuchhal and Company Chartered Accountants
Address :	216, D-288/10, Wadhwa Complex, Near Metro Station, Laxmi Nagar, Delhi – 110 092, India
Tel No.:	91-11-22418067/2253103
Mobile No.:	91-971345475
Email :	cagka@gmail.com
PAN No.:	AAAFG4355L
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
55000	Equity Shares	Rs. 10/- each	Rs.0.550 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	0.550	0.550	0.550
(b) Reserves & Surplus	1.123	0.910	0.682
(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)	1.673	1.460	1.232
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.014	0.004	0.004
(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)	0.014	0.004	0.004
(4) Current Liabilities
(a) Short term borrowings	2.966	1.112	1.750
(b) Trade payables	0.931	0.857	1.070
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	1.483	1.082	0.747
Total Current Liabilities (4)	5.380	3.051	3.567
TOTAL	7.067	4.515	4.803
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.910	3.459	3.459
(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	0.120	0.120	0.120
Total Non-Current Assets	4.030	3.579	3.579
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.783	0.049	0.090
(c) Trade receivables	0.781	0.397	0.319
(d) Cash and cash equivalents	0.013	0.009	0.244
(e) Short-term loans and advances	0.460	0.481	0.571
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3.037	0.936	1.224
TOTAL	7.067	4.515	4.803

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	8.116	6.997	11.237
		Other Income	0.000	0.036	0.052
		TOTAL (A)	8.116	7.033	11.289
Less	EXPENSES
		Purchase of stock-in-trade		3.812	6.368
		Changes in inventories		0.041	1.200
		Employee Benefit Expenses		1.864	2.082
		Other Expenses		0.708	0.846
		TOTAL (B)	7.778	6.425	10.496
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	0.608	0.793
Less	FINANCIAL EXPENSES (D)		NA	0.228	0.308
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.338	0.380	0.485
Less	DEPRECIATION/ AMORTISATION (F)		0.029	0.045	0.031
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		0.309	0.335	0.454
Less	TAX (H)		0.097	0.107	0.140
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		0.212	0.228	0.314
	Earnings Per Share (Rs.)		3.80	4.16	5.71

Expected Sales (2014-2015): Rs.17.000 Million

The above information has been parted by Mr. Lokesh Sahrma (Director)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.61	3.26	2.79
Operating Profit Margin (PBDIT/Sales)	(%)	NA	8.69	7.06
Return on Total Assets (PBT/Total Assets}	(%)	4.37	7.42	9.45
Return on Investment (ROI) (PBT/Networth)		0.18	0.23	0.37
Debt Equity Ratio (Total Debt /Networth)		1.77	0.76	1.42
Current Ratio (Current Asset/Current Liability)		0.56	0.31	0.34

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	0.550	0.550	0.550
Reserves & Surplus	0.682	0.910	1.123
Net worth	1.232	1.460	1.673
long-term borrowings	0.000	0.000	0.000
Short term borrowings	1.750	1.112	2.966
Total borrowings	1.750	1.112	2.966
Debt/Equity ratio	1.420	0.762	1.773

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	11.237	6.997	8.116
		(37.732)	15.993

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	11.237	6.997	8.116
Profit	0.314	0.228	0.212
	2.79%	3.26%	2.61%

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%	Yes
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
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

INDEX OF CHARGE:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10211713	16/03/2010	1,500,000.00	BANK OF INDIA	NOIDA BRANCH, E-52/B, Sector-9, NOIDA, Uttar Pradesh - 201301, INDIA	A82814922
2	10211714	16/03/2010	2,500,000.00	BANK OF INDIA	NOIDA BRANCH, E-52/B SECTOR-9, NOIDA, Uttar Pradesh - 201301, INDIA	A82815036

FIXED ASSETS:

· Computer

· Plant and Machinery

· Mobile

· CCDE 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 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 :	KMN
Analysis Done by :	RSM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
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	3
--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		28

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.