MIRA INFORM REPORT

Report No. :	316051
Report Date :	07.04.2015

IDENTIFICATION DETAILS

Name :	OMP COMPONENTS (INDIA) PRIVATE LIMITED (w.e.f.29.07.2004)
Formerly Known As :	BATIX SYSTEMS PRIVATE LIMITED
Registered Office :	77, Pilerne Industrial Estate, Pilerne, Goa-403511, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.01.2001
Com. Reg. No.:	11-002941
Capital Investment / Paid-up Capital :	Rs. 36.407 million
CIN No.: [Company Identification No.]	U01122GA2001PTC002941
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRO01768E
PAN No.: [Permanent Account No.]	AAACO8164G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of chair components.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company possesses a moderate financial profile marked by modest capital base supported by zero gearing in the books. However, the business profile is constrained on account of decline in the Subject’s moderate revenue base as well as have witnessed consecutive losses leading to the accumulation of the same hurting the financials during FY14. Moreover, the management has proposed to merge the subject with “Infiniti Modules Private Limited” a group company which will definitely add some positive synergies inturn helping the overall business. Trade relations seem to be fair. Business is active. Payment terms are reported as slow but correct. In view of modest operations, the company can be considered for small to mediocre business dealings with caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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

Name :	Mr. Projot Kandulkar
Designation :	Account Executive
Contact No.:	91-832-6653333
Date :	06.04.2015

LOCATIONS

Registered Office :	77, Pilerne Industrial Estate, Pilerne, Goa-403511, Maharashtra, India
Tel. No.:	91-832-6653333
Fax No.:	Not Available
E-Mail :	compsect@gmail.com psk@ompindia.com
Website :	www.ompindia.com
Area :	1500 sq. ft.
Location :	Owned
Administrative Office :	51/A, Pileme Industrial Estate, Pilerne, Goa-403511, Maharashtra, India
Tel. No.:	91-832-2407066/67

DIRECTORS

As on 30.09.2014

Name :	Mr. Sanjeev Ravindra Trivedi
Designation :	Managing Director
Address :	Casa Nina 8/17, Nigvaddo,, Arrarim, Saligao, Goa-403511, India
Date of Birth/Age :	14.01.1967
Date of Appointment :	23.01.2001
DIN No.:	00315747
Name :	Mrs. Sonali Sanjeev Trivedi
Designation :	Director
Address :	Casa Nina 8/17, Nigvaddo, Arrarim, Saligao, Goa-403511, India
Date of Birth/Age :	14.01.1964
Date of Appointment :	23.01.2001
DIN No.:	00318610

KEY EXECUTIVES

Name :	Mr. Projot Kandulkar
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage
Sanjeev Ravindra Trivedi	44000	89.80
Sonali Sanjeev Trivedi	5000	10.20
Total	49000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	1.00
Bodies corporate	49.00
Directors or relatives of Directors	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of chair components.
Products :	Chair Components
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Raw Materials
Countries :	Italy
Terms :
Selling :	Cash and Credit (30/60/90 Days)
Purchasing :	Cash and Credit (30/60/90 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Elin Electronics Private Limited, Goa
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Reference :	Goldi Auto Stampings Private Limited
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 :

End Users, OEM’s

Reference :	Infiniti Modules Private Limited
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 :

25 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch Address :	Panaji Branch, D. B. Marg, Panaji - 403001, Goa, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	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)	Rs. 8.000 million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Export Packing credit - State bank of India	0.000	4.989
Total	0.000	4.989

Auditors :
Name :	S P Bhandare and Associates Chartered Accountants
Address :	3/UG-4, Models Residency, St Inez, Panaji-403001, Goa, India
Tel. No.:	91-832-2221464
Fax No.:	91-832-2431051
E-Mail :	sandip.bhandare@gamil.com
PAN No.:	ACFPB1717N
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Infinity modules private limited OMP Srl, Italy

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
120,000	Equity Shares	Rs.10/- each	Rs.1.200 million
363,000	Preference Shares	Rs.100/- each	Rs.36.300 million
			Rs. 37.500 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
118,000	Equity Shares	Rs.10/- each	Rs.1.180 million
352,227	Preference Shares	Rs.100/- each	Rs.35.222 million
			Rs.36.402 million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
120,000	Equity Shares	Rs.10/- each	Rs.1.200 million
238,000	6% non-cumulative fully convertible Preference Shares	Rs.100/- each	Rs.23.800 million
125,000	6% redeemable Preference Shares	Rs.100/- each	Rs.12.500 million
	Total		Rs.37.500 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
118,000	Equity Shares	Rs.10/- each	Rs.1.180 million
232270	6% non-cumulative fully convertible Preference Shares	Rs.100/- each	Rs.23.227 million
120000	6% redeemable Preference Shares	Rs.100/- each	Rs.12.000 million
	Total		Rs.36.407 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	36.407	36.407	24.407
(b) Reserves & Surplus	(4.154)	(1.636)	2.123
(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)	32.253	34.771	26.530
(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	9.543	3.542	4.785
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	9.543	3.542	4.785
(4) Current Liabilities
(a) Short term borrowings	0.000	4.989	4.794
(b) Trade payables	0.085	9.448	12.267
(c) Other current liabilities	0.692	0.728	2.160
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.777	15.165	19.221
TOTAL	42.573	53.478	50.536
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	25.973	27.379	28.771
(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	4.717	10.054	5.102
Total Non-Current Assets	30.690	37.433	33.873
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	6.921	7.935	10.904
(c) Trade receivables	4.085	7.568	4.595
(d) Cash and cash equivalents	0.197	0.074	0.816
(e) Short-term loans and advances	0.680	0.468	0.348
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	11.883	16.045	16.663
TOTAL	42.573	53.478	50.536

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES TURNOVER	6.707	7.787	4.452
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	(2.518)	(3.759)	(3.758)
Less	TAX (I)	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	(2.518)	(3.759)	(3.758)
	Earnings / (Loss) Per Share (Rs.)	(5.35)	(7.99)	--

Expected Sales (2014-15) : Rs.7.000 Million

The above information has been parted by Mr. Projot Kandulkar

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(37.54)	(48.27)	(84.41)
Return on Total Assets (PBT/Total Assets}	(%)	(5.91)	(7.03)	(7.44)
Return on Investment (ROI) (PBT/Networth)		(0.08)	(0.11)	(0.14)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.14	0.18
Current Ratio (Current Asset/Current Liability)		15.29	1.06	0.87

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	24.407	36.407	36.407
Reserves & Surplus	2.123	-1.636	-4.154
Net worth	26.530	34.771	32.253
long-term borrowings	0.000	0.000	0.000
Short term borrowings	4.794	4.989	0.000
Total borrowings	4.794	4.989	0.000
Debt/Equity ratio	0.181	0.143	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)
Turnover	4.452	7.787	6.707
		74.910	(13.869)

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	4.452	7.787	6.707
Profit	(3.758)	(3.759)	(2.518)
	(84.41%)	(48.27%)	(37.54%)

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBT

Particular	31.03.2014	31.03.2013	31.03.2012
Current maturities of long-term debt	0.000	0.000	1.297
Total	0.000	0.000	1.297

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 three 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	Yes
18]	Major customers	Yes
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

OPERATIONS AND ACCOUNTS:

Due to the worldwide recession the company’s sales were severely affected and the turnover declined to Rs. 6.707 Million (previous year Rs. 7.787 Million) which has resulted in a Loss before taxation of Rs. 2.518 million (previous year loss before taxation of Rs. 3.759 Million) which is being carried forward.

The scheme of compromise and arrangement under the provisions of sections 391-394 of the Companies Act, 1956 by way of the merger of the company with Infiniti Modules Private Limited (Infiniti) with the appointed date for the merger from January 1, 2013 is pending approval of the High Court of Bombay, Goa bench.

Till such time as the scheme is not sanctioned the business of the company shall be carried out on behalf of Infiniti. Pending the sanction of the scheme the accounts of the company effective from January 1, 2013 have not been consolidated in the current financial year but consolidation of the accounts of the company will be done post approval of the scheme of merger.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Factory building
• Plant and machinery
• Furniture and fixture
• Computers
• Land

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 records 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.62.15
UK Pound	1	Rs.92.73
Euro	1	Rs.68.23

INFORMATION DETAILS

Information Gathered by :	PRP
Analysis Done by :	SUB
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.