MIRA INFORM REPORT

Report No. :	314880
Report Date :	02.04.2015

IDENTIFICATION DETAILS

Name :	SEEPRA REFRIGERATION PRIVATE LIMITED

Registered Office :	9/B – Francis Apartment, V.S. Agashe Road, Dadar (West), Mumbai– 400028, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.09.1993

Com. Reg. No.:	11-073973

Capital Investment / Paid-up Capital :	Rs.5.000 Million

CIN No.: [Company Identification No.]	U29191MH1993PTC073973

TIN No.:	Not Available

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	MUMS17482D

PAN No.: [Permanent Account No.]	AADCS9342P

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of contracting activity i.e. construction and infrastructure and also engaged in manufacturing and importing of wall panel, decorative wall panels, metal wall panels, insulated roofing panel, roofing panel, insulated sheets, insulated van, heat insulated van, industrial insulated van etc.

No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 28000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. Reserves of the company seems to be low during 2014. However, 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

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 :	Mr. Prabodh Prabhakar Bambardekar
Designation :	Managing Director
Contact No.:	91-9823055138
Date :	31.03.2015

LOCATIONS

Registered Office :	9/B – Francis Apartment, V.S. Agashe Road, Dadar, Mumbai (West) – 400 028, Maharashtra, India
Tel. No.:	91-22-24305940
Mobile No.:	91-9823055138 (Mr. Prabodh Prabhakar Bambardekar)
Fax No.:	Not Available
E-Mail :	sales@seeprarefrigeration.com seeprare_nsk@sanchamet.in
Website :	http://www.seeprarefrigeration.com

Factory :	H-2\8, M I D C Ambad, M I D C Ambad, Nashik - 422010, Maharashtra, India
Tel. No.:	91-253-2381479
Fax No.:	91-253-2383421

DIRECTORS

As on 30.09.2014

Name :

Mr. Prabodh Prabhakar Bambardekar

Designation :

Managing Director

Address :

9/B – Francis Apartment, V.S. Agashe Road, Dadar (West), Mumbai– 400028, Maharashtra, India

Date of Birth/Age :

26.11.1959

Date of Appointment :

16.09.1993

DIN No.:

01541738

Other Directorship:

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

U29191MH1993PTC073973

SEEPRA REFRIGERATION PRIVATE LIMITED

Managing director

16/09/1993

Active

U63022MH1994PTC083319

TRISTAR EQUIPMENTS PRIVATE LIMITED

Managing director

10/08/2001

Active

Name :

Mrs. Seema Prabodh Bambardekar

Designation :

Director

Address :

11, Siddharth Classic Apartment, Near Deo Super Market, Samarth Nagar, Nashik - 422101, Maharashtra, India

Date of Birth/Age :

17.06.1964

Date of Appointment :

16.09.1993

DIN No.:

01541843

Other Directorship:

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

U29191MH1993PTC073973

SEEPRA REFRIGERATION PRIVATE LIMITED

Director

16/09/1993

Active

U63022MH1994PTC083319

TRISTAR EQUIPMENTS PRIVATE LIMITED

Director

10/08/2001

Active

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Prabodh Prabhakar Bambardekar	17680	35.36
Seema Prabodh Bambardekar	30120	60.24
Sonar Ramdas Gajanand	2200	4.40
Total	50000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	95.60
Other top fifty shareholders	4.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of contracting activity i.e. construction and infrastructure and also engaged in manufacturing and importing of wall panel, decorative wall panels, metal wall panels, insulated roofing panel, roofing panel, insulated sheets, insulated van, heat insulated van, industrial insulated van etc.

Products :	Wall Panel Decorative Wall Panels Metal Wall Panels Insulated Roofing Panel Roofing Panel Insulated Sheets Insulated Van Heat Insulated Van Industrial Insulated Van

Brand Names :	--

Agencies Held :	--

Exports :	Not Divulged

Imports :
Products :	Raw Material
Countries :	Indonesia

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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
Remark :	Not Divulged

Customers :

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
Remark :	Not Divulged

No. of Employees :

8 (Approximately)

Bankers :

Banker Name	IDBI Bank Limited
Branch Address	Bedekar Sadan, N.C. Kelkar Road, Dadar (West), Mumbai - 400028, Maharashtra, 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 (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged


Auditors :
Name :	Yogesh Vyas Chartered Accountants
Address :	23 A, Anand Nagar, S. T. Road, Mahim, Mumbai – 400016, Maharashtra, India
PAN No.:	AABPV3073H

Memberships :	--

Collaborators :	--

Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

50000	Equity Shares	Rs.100/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

50000	Equity Shares	Rs.100/- each	Rs.5.000 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	5.000	5.000	5.000
(b) Reserves & Surplus	4.875	4.246	3.859
(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)	9.875	9.246	8.859

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	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)	0.000	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	13.143	5.536	7.217
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	13.143	5.536	7.217

TOTAL	23.018	14.782	16.076

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets
(ii) Intangible Assets	1.632	1.618	1.742
(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	3.601	4.840	1.276
(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	13.731	5.789	12.851
Total Non-Current Assets	18.964	12.247	15.869

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	4.054	2.535	0.207
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	4.054	2.535	0.207

TOTAL	23.018	14.782	16.076

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	0.000	0.000	0.000
		Other Income	36.561	11.319	13.737
		TOTAL	36.561	11.319	13.737

Less	EXPENSES
		Other Expenses	35.211	10.484	13.337
		TOTAL	35.211	10.484	13.337

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.350	0.835

Less	DEPRECIATION/ AMORTISATION		0.307	0.274

	PROFIT/(LOSS) BEFORE TAX		1.043	0.561	0.400

Less	TAX		0.322	0.173	0.131

	PROFIT/(LOSS) AFTER TAX		0.721	0.388	0.269

	Earnings / (Loss) Per Share (Rs.)		14.41	7.75	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.00	0.00	0.00

Operating Profit Margin (PBDIT/Sales)	(%)	0.00	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	5.37	5.64	2.70

Return on Investment (ROI) (PBT/Networth)		0.11	0.06	0.05

Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)		0.31	0.46	0.03

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	5.000	5.000	5.000
Reserves & Surplus	3.859	4.246	4.875
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	8.859	9.246	9.875

Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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
Total Income	13.737	11.319	36.561
		(17.602)	223.006

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	13.737	11.319	36.561
Profit	0.269	0.388	0.721
	1.96%	3.43%	1.97%

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

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10339256	07/01/2012	17,500,000.00	IDBI Bank Limited	IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India	B33730490
2	90354335	07/01/2012 *	4,000,000.00	IDBI Bank Limited	IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India	B33724139

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 :	MNJ

Analysis Done by :	RAS

Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	3
--PROFITABILITY	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		27

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.

MIRA INFORM REPORT

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