MIRA INFORM REPORT

Report No. :	316153
Report Date :	08.04.2015

IDENTIFICATION DETAILS

Name :	J. V. EngINEERING AND ConveyorS PRIVATE LIMItEd
Registered Office :	Plot No.23/25, 60 Feet Road, P.O. Pali Sohna Road, Village Nangla Gujran, Faridabad – 121 004, Haryana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.12.2002
Com. Reg. No.:	05-035009
Capital Investment / Paid-up Capital :	Rs.1.995 Million
CIN No.: [Company Identification No.]	U34300HR2002PTC035009
IEC No.:	0506089592
TIN No.:	06611321390
PAN No.: [Permanent Account No.]	AABCJ3344E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Sheet Metal Components.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 24000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Sales turnover of the company has declined which has resulted into dip in profit of the company during 2014. Rating further constrained on account of company’s moderate financial risk profile marked leverage capital structure of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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

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. Manoj
Designation :	Purchase Executive
Contact No.:	91-9654790757
Date :	07.04.2015

LOCATIONS

Registered Office / Factory :	Plot No.23/25, 60 Feet Road, P.O. Pali Sohna Road, Village Nangla Gujran, Faridabad – 121 004, Haryana, India
Tel No.:	91-129-4037461
Mobile No.:	91-9654790757 (Mr. Manoj)
Fax No.:	Not Available
E-Mail :	Jve_c@hotmail.com yogeshgourh@yahoo.com
Website :	www.jvec.in
Area :	1280 sq. yard
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Sachin Kumar Panchal

Designation :

Director

Address :

H No.83, Jawahar Colony, Nit, Faridabad – 121005, Haryana, India

Date of Birth/Age :

11.08.1978

Date of Appointment :

17.12.2002

DIN No.:

01546213

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	U34300HR2002PTC035009	J.V. ENGINEERING AND CONVEYORS PRIVATE LIMITED	Director	17-12-2002	17-12-2002	-	Active	NO
2	U28110HR2011PTC044008	J.V. BRIGHT STEELS PRIVATE LIMITED	Director	03-10-2011	03-10-2011	-	Active	NO

Name :

Mr. Vibhishan Kumar

Designation :

Director

Address :

H No.62-63, Jawahar Colony, Nit, Faridabad – 121005, Haryana, India

Date of Birth/Age :

14.10.1947

Date of Appointment :

17.12.2002

DIN No.:

02527374

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	U34300HR2002PTC035009	J.V. ENGINEERING AND CONVEYORS PRIVATE LIMITED	Director	17-12-2002	17-12-2002	-	Active	NO
2	U28110HR2011PTC044008	J.V. BRIGHT STEELS PRIVATE LIMITED	Director	03-10-2011	03-10-2011	-	Active	NO

Name :

Ms. Loveleen Panchal

Designation :

Director

Address :

H No.62-63, Jawahar Colony, Nit, Faridabad – 121005, Haryana, India

Date of Birth/Age :

14.04.1976

Date of Appointment :

17.12.2002

DIN No.:

02527392

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	U34300HR2002PTC035009	J.V. ENGINEERING AND CONVEYORS PRIVATE LIMITED	Director	17-12-2002	17-12-2002	-	Active	NO
2	U28110HR2011PTC044008	J.V. BRIGHT STEELS PRIVATE LIMITED	Director	03-10-2011	03-10-2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj
Designation :	Purchase Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age
Vibhishan Panchal	54300	27.22
Loveleen Panchal	48300	24.21
Sachin Panchal	49800	24.96
Sona Devi	34500	17.29
Sonia Panchal	4200	2.11
Renu Panchal	4200	2.11
Geetanjali Panchal	4200	2.11
Total	199500	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Sheet Metal Components
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash, Advance Payment and Credit (30, 60, and 90 Days)
Purchasing :	Cash, Advance Payment and Credit (30, 60, and 90 Days)

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• NHK Spring India
• Apl Apollo Tubes Limited – Unit-II
• Ashok MFG Company Private Limited
• BRG Iron and steel Company Private Limited
• Fortune Metal
• Globe Steels Private Limited
• Hallmark Steel Private Limited

Customers :

• NHK Spring India
• Sam Automation
• ASK Automotive Limited
• ASK Automotive Private Limited Unit-VI
• Bharat Gears Limited
• Bhushan Power and Steel
• G S Alloys
• Hetran India Private Limited

No. of Employees :

Not Divulged

Bankers :

Banker Name	Punjab National Bank
Branch Address	NIT Branch, Nehru Ground, Faridabad, Haryana, 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)	--

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
PNB Plant and Machinery Loan A/C	1.038	1.327
PNB Vehicle loan	0.000	0.029
Axis Bank Limited (Car loan)	1.425	1.805
Axis Bank Limited (Mahindra Pickup)	0.159	0.000
SHORT TERM BORROWINGS
Punjab National Bank	4.049	3.102
Total	6.671	6.263

Auditors :
Name :	Sulekh Chand Jain and Company Chartered Accountants
Address :	E-5, Nehru Ground, Faridabad – 121001, Haryana, India
PAN No. :	ABMPJ6258K
Memberships :	--
Collaborators :	--
Associates / Subsidiaries :	Nil

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
199500	Equity Shares	Rs.10/- each	Rs.1.995 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

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	1.995	1.995	1.995
(b) Reserves & Surplus	6.370	5.869	4.711
(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)	8.365	7.864	6.706
(3) Non-Current Liabilities
(a) long-term borrowings	5.630	5.691	3.993
(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	0.245	0.265	0.138
Total Non-current Liabilities (3)	5.875	5.956	4.131
(4) Current Liabilities
(a) Short term borrowings	4.049	3.102	4.802
(b) Trade payables	3.834	10.263	6.119
(c) Other current liabilities	13.294	2.270	4.479
(d) Short-term provisions	0.000	0.071	0.012
Total Current Liabilities (4)	21.177	15.706	15.412
TOTAL	35.417	29.526	26.249
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.105	9.872	8.452
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.877
(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	0.094
(d) Long-term Loan and Advances	0.181	0.126	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	10.286	9.998	9.423
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	12.065	7.521	9.616
(c) Trade receivables	7.528	11.117	5.831
(d) Cash and cash equivalents	3.049	0.328	0.407
(e) Short-term loans and advances	2.489	0.562	0.972
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	25.131	19.528	16.826
TOTAL	35.417	29.526	26.249

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	44.667	70.255
		Other Income	0.707	0.338
		TOTAL	45.374	70.593	36.700
Less	EXPENSES
		Cost of Materials Consumed	37.104	55.670
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(4.300)	(0.035)
		Employees benefits expense	2.049	2.457
		Other expenses	6.890	7.985
		TOTAL	41.743	66.077	35.473
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		3.631	4.516
Less	FINANCIAL EXPENSES		1.125	1.024
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2.506	3.492
Less/ Add	DEPRECIATION/ AMORTISATION		1.760	1.809
	PROFIT/ (LOSS) BEFORE TAX		0.746	1.683	1.227
Less	TAX		0.245	0.525	0.219
	PROFIT/ (LOSS) AFTER TAX		0.501	1.158	1.008
	Earnings / (Loss) Per Share (Rs.)		2.51	5.80	5.05

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.12	1.65	NA
Operating Profit Margin (PBDIT/ Sales)	(%)	8.13	6.43	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.11	5.70	4.85
Return on Investment (ROI) (PBT/Networth)		0.09	0.21	0.18
Debt Equity Ratio (Total Debt/Networth)		1.16	1.12	1.31
Current Ratio (Current Asset/Current Liability)		1.19	1.24	1.09

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	1.995	1.995	1.995
Reserves & Surplus	4.711	5.869	6.370
Net worth	6.706	7.864	8.365
long-term borrowings	3.993	5.691	5.630
Short term borrowings	4.802	3.102	4.049
Total borrowings	8.795	8.793	9.679
Debt/Equity ratio	1.312	1.118	1.157

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	36.700	70.593	45.374
		92.351	(35.725)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	36.700	70.593	45.374
Profit	1.008	1.158	0.501
	2.75%	1.64%	1.10%

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

NOTE:

The registered address of the company has been shifted from 50A/26, N I T, Faridabad – 121001, Haryana, India to the present address w.e.f 01.11.2008

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
From Director	0.600	2.530
Loans and advance form others
HDFC Bank Limited	0.960	0.000
Stander Charted Bank	1.448	0.000
Total	3.008	2.530

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10443561	01/12/2014 *	2,500,000.00	Punjab National Bank	Nehru Ground, NIT, Faridabad, Haryana - 121001, INDIA	C38361432
2	10222891	01/12/2014 *	9,000,000.00	Punjab National Bank	Nehru Ground, NIT, Faridabad, Haryana - 121001, INDIA	C38360475
3	90055394	13/08/2004	200,000.00	PUNJAB & SIND BANK	SEC-16 A, AJRONDA, FARIDABAD, Haryana, INDIA	-

* Date of charge modification

FIXED ASSETS

• Building
• Furniture and Fixture
• Office Equipment
• Plant and Machinery
• Vehicles

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.62.33
UK Pound	1	Rs.92.83
Euro	1	Rs.68.08

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	KAR
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
-- PROFITABILITY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.