MIRA INFORM REPORT

Report No. :	316567
Report Date :	08.04.2015

IDENTIFICATION DETAILS

Name :	NALIN INDUSTRIES PRIVATE LIMIITED
Registered Office :	1/342-1A, Gali No. 1, Friends Colony, Industrial Area, Shahdara, New Delhi 110095
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.06.2012
Com. Reg. No.:	55-238121
Capital Investment / Paid-up Capital :	Rs. 0.820 Million
CIN No.: [Company Identification No.]	U28999DL2012PTC238121
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 :	Subject is engaged in business of Manufacturing Fine Copper Wire
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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a company with limited operational history having moderate track. The company possesses a moderate financial profile marked by modest networth base along with working capital intensive nature of business has resulted in high gearing levels which given its weak profitability leads to moderate debt protection indicators. However, trade relations seem to be fair. Business is active. Payment terms are reported as slow but correct. In view of nascence, the company can be considered for 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.

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. Tarun Aggarwal
Designation :	Director
Contact No.:	91-9811117691
Date :	08.04.2015

LOCATIONS

Registered Office :	1/342-1A, Gali No. 1, Friends Colony, Industrial Area, Shahdara, New Delhi 110095, India
Tel. No.:	91-11-22137353/22133207
Mobile No.:	91-9811117691 (Mr. Tarun Aggarwal)
Fax No.:	Not Available
E-Mail :	tarun132@gmail.com
Factory :	Chhabra Market, Village Shimla Pistor, Kichha Road, Post - Narayanpur, City-Rudrapur, District - Udham Singh Nagar, Uttarakhand - 262405

DIRECTORS

As on 20.09.2014

Name :	Mr. Tarun Krishan Aggarwal
Designation :	Director
Address :	3010 Gali Kalka Mishra, Ballimaran, Delhi – 110006, India
Date of Birth/Age :	22.11.1965
Date of Appointment :	27.06.2012
DIN No.:	02625626
Name :	Mr. Viral Aggarwal
Designation :	Director
Address :	G – 13, Green Park Extension, New Delhi – 110016, India
Date of Birth/Age :	13.02.1990
Date of Appointment :	27.06.2012
DIN No.:	05265824

MAJOR SHAREHOLDERS

As on 20.09.2014

Names of Shareholders	No. of Shares	%age
Tarun Krishan Aggarwal	67000	81.71
Viral Aggarwal	3000	3.66
Meenakshi Aggarwal	12000	14.63
Total	82000	100.00

As on 20.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in business of Manufacturing Fine Copper Wire
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30/60/90 Days)
Purchasing :	Cash and Credit (30/60/90 Days)

PRODUCTION STATUS (31.03.2014)

Particulars	Unit	Installed Capacity
Copper Wire/Ingot/Rod	kg	300,000

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

Customers :

End Users and OEM’s

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 :

Banker Name	Karnataka Bank Limited
Branch Address	Plot No. 13, Near Sai Mandir, Gate No. 2, Savita Vihar, New Delhi = 110092, Delhi, 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)	Cash/Credit = Rs. 23.500 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
LONG TERM BORROWING
Loan from Karnataka bank	0.354	0.729
SHORT TERM BORROWING
PIOD with Karnataka Bank	23.437	22.987
Loan from Karnataka Bank	0.375	0.426
Total	24.166	24.142

Auditors :
Name :	M Garg and Company Chartered Accountants
Address :	24 - A, SFS DDA Flats, Motia Khan, New Delhi - 110055
Email :	mgargca@gmail.com
Website :	www.mgargca.com
PAN No.:	AAAPG6940M
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 20.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
82,000	Equity Shares	Rs.10/- each	Rs. 0.820 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.820	0.820
(b) Reserves & Surplus	8.110	7.832
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	8.930	8.652
(3) Non-Current Liabilities
(a) long-term borrowings	0.354	0.729
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.354	0.729
(4) Current Liabilities
(a) Short term borrowings	27.629	28.362
(b) Trade payables	15.124	5.034
(c) Other current liabilities	0.369	0.337
(d) Short-term provisions	0.121	0.002
Total Current Liabilities (4)	43.243	33.735
TOTAL	52.527	43.116
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.217	2.569
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.005	0.013
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2.222	2.582
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	19.383	16.806
(c) Trade receivables	30.021	22.772
(d) Cash and cash equivalents	0.520	0.225
(e) Short-term loans and advances	0.370	0.436
(f) Other current assets	0.011	0.295
Total Current Assets	50.305	40.534
TOTAL	52.527	43.116

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	104.456	67.595
	Other Income	NA	NA
	TOTAL (A)	NA	NA
Less	EXPENSES	NA	NA
	TOTAL (B)
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	4.709	2.936
Less	FINANCIAL EXPENSES (D)	4.014	2.548
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	0.695	0.388
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.406	0.340
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	0.289	0.048
Less	TAX (I)	0.010	0.017
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	0.279	0.031
	Earnings / (Loss) Per Share (Rs.)	3.40	0.38

Particulars	31.03.2015
Sales Turnover (Approximately)	150.000

The above information has been parted by Mr. Tarun Aggarwal

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.27	0.05
Operating Profit Margin (PBDIT / Sales)	(%)	4.51	4.34
Return on Total Assets (PBT/Total Assets}	(%)	0.55	0.11
Return on Investment (ROI) (PBT/Networth)		0.03	0.01
Debt Equity Ratio (Total Debt /Networth)		3.13	3.36
Current Ratio (Current Asset/Current Liability)		1.16	1.20

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.820	0.820
Reserves & Surplus	7.832	8.110
Net worth	8.652	8.930
long-term borrowings	0.729	0.354
Short term borrowings	28.362	27.629
Total borrowings	29.091	27.983
Debt/Equity ratio	3.362	3.134

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	67.595	104.456
		54.532

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	67.595	104.456
Profit	0.031	0.279
	0.05%	0.27%

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 two years	Yes
12]	Profitability for last two 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)	No
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

TURNOVER AND PROFITABILITY

The company has achieved Net Turnover for the year ended 31^st March, 2014 Rs. 104.456 Million as compared to previous year Turnover Rs. 67.595 Million and net profit for the year is Rs. 0.311 Million as compared to previous year Rs. 0.031 Million. The company hopes to further introduce innovated wires with new ideas in the near future to grow further.

NATURE OF OPERATIONS AND INFORMATION

The Company was incorporated in India on 27^th June, 2012 and majorly is engaged in business of manufacturing Fine Copper Wire. The accompanying Financial Statements reflects the results of the activities undertaken by the company for the year ending March 31, 2014.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Inter corporate Loans	0.837	2.373
Related parties	2.980	2.576
Total	3.817	4.949

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10404336	03/01/2014 *	23,500,000.00	KARNATAKA BANK LIMITED	PLOT NO.13, NEAR SAI MANDIR, GATE NO. 2, SAVITA VIHAR, NEW DELHI, Delhi - 110092, INDIA	B94387065

* Date of charge modification

FIXED ASSETS

• Plant and Machinery
• Computers
• Vehicle

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

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

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