MIRA INFORM REPORT

Report No. :	315464
Report Date :	03.04.2015

IDENTIFICATION DETAILS

Name :	TECHMA ENGINEERING ENTERPRISE PRIVATE LIMITED
Registered Office :	Stephen House, Room No.51-C, 3^rd Floor, 4, Hemant Basu Sarani, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.08.2009
Com. Reg. No.:	21-137679
Capital Investment / Paid-up Capital :	Rs. 25.000 Million
CIN No.: [Company Identification No.]	U27100WB2009PTC137679
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 Supplier of railway tracks fitting overheads electric line hardware.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Reserves of the company is decent. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct. The company can be considered normal 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 – 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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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

Name :	Mr. I. K. Jain
Designation :	Director
Contact No.:	91-9830066566
Date :	31.03.2015

LOCATIONS

Registered Office :	Stephen House, Room No.51-C, 3^rd Floor, 4, Hemant Basu Sarani, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22314497/ 4498/ 26659746
Mobile No.:	91-9830036189 (Mr. D.K. Jain)
Fax No.:	91-33-22427685 / 22314498
E-Mail :	d.k.jain@vsnl.com teepl2013@gmail.com
Website :	http://www.techmaforging.com
Area :	2500 Sq. Ft
Location :	Rented
Factory :	Dajor, Hawrah, West Bengal, India
Area :	150000 sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mrs. Kamala Devi Jain

Designation :

Director

Address :

13, Salkia School Road, Salika, Howrah – 711 106, West Bengal, India

Date of Birth/Age :

22.06.1938

Date of Appointment :

11.08.2009

DIN No.:

02734418

Name :

Mr. Devendra Kumar Jain

Designation :

Director

Address :

13, Salkia School Road, Salika, Howrah – 711 106, West Bengal, India

Date of Birth/Age :

18.10.1956

Qualification :

B. Com

Date of Appointment :

11.08.2009

DIN No.:

01569280

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	U27310WB1982PTC035501	TECHMA ENGINEERING PRIVATE LIMITED	Director	01/04/91	01/04/91	-	Amalgamated	NO
2	U34201WB1986PTC137881	FAIRDEAL ENGINEERING & BODY BUILDING COMPANY PVT LTD	Director	01/06/06	01/06/06	-	Amalgamated	NO
3	U51909WB2000PTC091560	SILVERSON MERCANTILE PRIVATE LIMITED	Director	06/07/07	06/07/07	-	Active	NO
4	U27100WB2009PTC137679	TECHMA ENGINEERING ENTERPRISE PRIVATE LIMITED	Director	11/08/09	11/08/09	-	Active	NO
5	U45203WB2006PTC111405	PRAKASH & SURENDRA INFRASTRUCTURE PRIVATE LIMITED	Additional director	20/01/14	20/01/14	-	Active	NO

Name :

Ms. Asha Jain

Designation :

Director

Address :

13, Salkia School Road, Salika, Howrah – 711 106, West Bengal, India

Date of Birth/Age :

07.04.1958

Date of Appointment :

07.01.2010

DIN No.:

02905971

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	U27100WB2009PTC137679	TECHMA ENGINEERING ENTERPRISE PRIVATE LIMITED	Director	07/01/10	07/01/10	-	Active	NO
2	U70102WB2013PTC193426	BHAIRAVKRIPA ESTATES PRIVATE LIMITED	Additional director	04/12/13	04/12/13	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Kamala Devi Jain	100000
Devendra Kumar Jain	800000
Deepchand Jain	20000
Itesh Kumar Jain	20000
Kamna Jain	20000
Asha Jain	20000
Niraj Jain	20000
Veshnaway Vyapaar Private limited	25000
Amritvani Exim Private Limited	25000
Asha Apartments Private Limited	50000
Spotboy Tracom Private Limited	25000
Darkin Distributors Private Limited	25000
Zenith Fiscal Service Private Limited	25000
Pitambar Dealers Private Limited	10000
Renutrol Dealcom Private Limited	20000
Nilkanth Advisory Private Limited	10000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	60.00
Directors or relatives of Directors	40.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of railway tracks fitting overheads electric line hardware.
Products :	· Railways Crossing and Glued Joints · Rubber Molded Products · Railways Fasteners · Railway Overhead Fitting · Railway Clip and Clamps · Forged Railway Fasteners · Railway Rubber Pads and Rubber Components etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Countries :	· Germany · Srilanka · Iraq
Imports :	Not Divulged
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

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
Maximum Limit Dealt :	Not Divulged
Experience :	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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

150 (Approximately)

Bankers :

Bank Name	Bank of India
Branch	Dobson Lane Branch, P-4, Dobson Lane, Howrah – 711101, West Bengal, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Bank Of India	9.986	9.950
Total	9.986	9.950

Auditors :
Name :	S.J. Bardia and Company Chartered Accountants
Address :	18, Netaji Subhas Road, 3^rd Floor, Room No. -101, Kolkata – 700001, West Bengal, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACCFS2931C
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	B. K. Steel

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 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	25.000	25.000	25.000
(b) Reserves & Surplus	111.858	106.779	103.119
(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)	136.858	131.779	128.119
(3) Non-Current Liabilities
(a) long-term borrowings	22.004	21.747	21.249
(b) Deferred tax liabilities (Net)	0.246	0.238	0.237
(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)	22.250	21.985	21.486
(4) Current Liabilities
(a) Short term borrowings	9.986	9.950	9.784
(b) Trade payables	83.845	179.384	124.950
(c) Other current liabilities	2.245	9.022	41.272
(d) Short-term provisions	2.419	1.736	0.097
Total Current Liabilities (4)	98.496	200.092	176.103
TOTAL	257.603	353.856	325.708
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.386	13.957	15.390
(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	0.000	0.000	0.000
Total Non-Current Assets	15.386	13.957	15.390
(2) Current assets
(a) Current investments	45.000	0.000	0.000
(b) Inventories	50.602	75.557	120.690
(c) Trade receivables	106.981	175.898	151.238
(d) Cash and cash equivalents	15.600	59.899	10.388
(e) Short-term loans and advances	24.034	28.545	27.942
(f) Other current assets	0.000	0.000	0.060
Total Current Assets	242.217	339.899	310.318
TOTAL	257.603	353.856	325.708

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME (Approximately)	500.000	500.000	NA
Less	TOTAL EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	7.515	5.618	0.505
Less	TAX	2.437	1.959	0.185
	PROFIT/ (LOSS) AFTER TAX	5.078	3.659	0.320
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	7.778	4.119	3.799
	Balance Carried to the B/S	12.856	7.778	4.119
	Earnings / (Loss) Per Share (Rs.)	2.03	1.46	0.21

Expected Sales (2014-2015): Rs.700.000 Million

The above information has been parted by Mr. I. K. Jain (Director).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	2.92	1.59	0.16
Return on Investment (ROI) (PBT/Networth)		0.05	0.04	0.00
Debt Equity Ratio (Total Debt /Networth)		0.23	0.24	0.24
Current Ratio (Current Asset/Current Liability)		2.46	1.70	1.76

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	25.000	25.000	25.000
Reserves & Surplus	103.119	106.779	111.858
Net worth	128.119	131.779	136.858
long-term borrowings	21.249	21.747	22.004
Short term borrowings	9.784	9.950	9.986
Total borrowings	31.033	31.697	31.990
Debt/Equity ratio	0.242	0.241	0.234

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	Yes
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 two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Asha Jain	-	1.243
Deep Chand Jain and Sons	-	0.207
Deep Chand Jain	-	0.740
Devendra Kumar Jain	6.640	3.740
D.K. Jain and Sons (HUF)	1.680	1.980
Kamla Devi Jain	5.376	3.927
Silverson Merchantile Private Limited	8.308	9.911
Total	22.004	21.748

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10291367	14/11/2012 *	40,000,000.00	BANK OF INDIA	DOBSON LANE BRANCH,, P-4, DOBSON LANE,, HOWRAH, West Bengal - 711101, INDIA	B65721730
2	90201627	17/07/1995	400,000.00	PUNJAB NATIONAL BANK	MANORMAGANJ, INDORE, Madhya Pradesh, INDIA	-

* Date of charge modification

FIXED ASSETS

· Land

· Plant and Machinery

· Furniture and Fixtures

· Loose Tools

· Factory Shed and Building

· Office Equipments

· Computer

· Electronic Fittings

· Air Conditioner

· Dice and Gauge

· Electronic Weighbridge

· Generator

· Laboratory Equipments

· Motor Car

· Telephone and Accessories

· Scooter

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 :	MAN
Analysis Done by :	DIV
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.