MIRA INFORM REPORT

Report No. :	314871
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	K R EQUIPMENTS PRIVATE LIMITED
Registered Office :	C-15, IFS Apartments, Mayur Vihar Phase-I, New Delhi – 110092, Delhi
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.04.1986
Com. Reg. No.:	55- 023954
Capital Investment / Paid-up Capital :	Rs.2.500 Million
CIN No.: [Company Identification No.]	U74899DL1986PTC023954
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELK08330A
PAN No.: [Permanent Account No.]	AAACK2411N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Automatic Car Washing machine, Bus Washing Machines (Garage Equipments).
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 45000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

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

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. Navin
Designation :	Accounts Manager
Contact No.:	91-9818550508

LOCATIONS

Registered Office :	C-15, IFS Apartments, Mayur Vihar Phase-I, New Delhi – 110092, Delhi
Tel. No.:	Not Available
Mobile No.:	91-9810000543 (Mr. Kamal Agarwal)
Fax No.:	Not Available
E-Mail :	pdmindia@rediffmail.com krepl1@gmail.com
Website :	www.krepl.com www.caarwashingmachines.com
Area :	1500 Sq. Ft.
Location :	Owned
Factory :	42/33, Site IV, Industrial Area, Sahibabad – 201010, Uttar Pradesh, India
Tel. No.:	91-120-2896284
Fax No.:	91-120-4562432
Area :	700 Sq. Mt
Location :	Owned

DIRECTORS

As on: 30.09.2014

Name :	Mr. Kamal Agarwal
Designation :	Director
Address :	F-11, Sector 39, Noida – 201301, Uttar Pradesh, India
Date of Birth/Age :	01.10.1961
Date of Appointment :	17.04.1986
DIN No.:	00951279
Name :	Mr. Kailash Chandra Agarwal
Designation :	Director
Address :	F-11, Sector 39, Noida – 201301, Uttar Pradesh, India
Date of Birth/Age :	21.10.1932
Date of Appointment :	17.04.1986
DIN No.:	00951443
Name :	Mrs. Meenakshi Agarwal
Designation :	Additional Director
Address :	F-11, Sector 39, Noida – 201301, Uttar Pradesh, India
Date of Birth/Age :	04.12.1964
Date of Appointment :	01.04.2010
DIN No.:	03068945

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares	Percentage
Kailash Chandra Agarwal	85495	34.20
Kamal Agarwal	118095	47.24
Rajat Agarwal	26410	10.56
Arun Kumar Goel	10000	4.00
Meenakshi Agarwal	10000	4.00
Total	250000	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Automatic Car Washing machine, Bus Washing Machines (Garage Equipments).
Products :	Automatic Car Wash System Commercial Vehicle (Bus/Truck) Washing Machines Water Recycling Unit Automatic Washing Machine for 2 Wheelers Automatic Train Wash System Jet Stream Under Chassis Wash for Commercial Vehicles
Exports :
Products :	Finished goods
Countries :	Africa
Imports :
Products :	Raw Material
Countries :	Europe USA UK
Terms :
Selling :	Advance Payment, Cash and Credit (30 Days)
Purchasing :	Advance Payment, Cash and Credit (30 Days)

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 :

Manufacturer

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 :

50 (Approximately)

Bankers :

Banker Name :	Oriental Bank of Commerce
Branch Address :	Panchsheel Park, New Delhi - 110049, Delhi, 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)	Not Divulged
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
Oriental Bank of Commerce Term Loan (Secured against Hypothecation of Vehicles)	0.240	0.376
Oriental Bank of Commerce Term Loan (Secured against Hypothecation of Vehicles)	0.226	0.000
Oriental Bank of Commerce Term Loan (Secured against Hypothecation of Vehicles)	0.351	0.000
Short Term Borrowing
Bank OCC A/c (Secured against Hypothecation of Stock of Raw Materials, SIP, Finished Goods and all other goods of Trade and Receivable)	2.658	1.837
Total	3.475	2.213

Auditors :

Name :

PDMAG and Company

Chartered Accountants

(Formerly known as Pandey Dua and Mathur)

Address :

A-1 / 105, II Floor, Safdarjung Enclave, New Delhi – 110029, India

PAN No.:

AAAFP4206H

Memberships :

Not Available

Collaborators :

Not Available

Associates/Subsidiaries :

Not Available

CAPITAL STRUCTURE

As on: 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs.10/- each	Rs.2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs.10/- each	Rs.2.500 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	2.500	2.500	2.500
(b) Reserves & Surplus	13.257	11.954	10.643
(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)	15.757	14.454	13.143
(3) Non-Current Liabilities
(a) long-term borrowings	2.241	1.800	1.626
(b) Deferred tax liabilities (Net)	1.027	1.033	1.036
(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)	3.268	2.833	2.662
(4) Current Liabilities
(a) Short term borrowings	2.658	1.837	2.761
(b) Trade payables	5.977	5.276	5.553
(c) Other current liabilities	8.517	7.884	7.399
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	17.152	14.997	15.713
TOTAL	36.177	32.284	31.518
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6.518	5.928	5.840
(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	0.002	0.002	0.002
(c) Deferred tax assets (net)	0.052	0.052	0.052
(d) Long-term Loan and Advances	1.265	1.257	1.327
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7.837	7.239	7.221
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.553	4.885	4.786
(c) Trade receivables	6.461	5.754	6.956
(d) Cash and cash equivalents	12.445	11.281	10.258
(e) Short-term loans and advances	0.974	1.057	0.758
(f) Other current assets	2.907	2.068	1.539
Total Current Assets	28.340	25.045	24.297
TOTAL	36.177	32.284	31.518

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	41.934	41.866
		Other Income	3.071	3.823
		TOTAL (A)	45.005	45.689	40.675
Less	EXPENSES
		Manufacturing and Commission
		Employee Remuneration and Benefits
		Administrative and Others
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)
Less	FINANCIAL EXPENSES (D)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.527	0.337	0.389
	PROFIT BEFORE TAX (E-F) (G)		NA	NA	NA
Less	TAX (H)		NA	NA	NA
	PROFIT AFTER TAX (G-H) (I)		1.302	1.311	1.442
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.890	5.579	4.145
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	0.001
		Tax	0.000	0.008	0.007
	BALANCE CARRIED TO THE B/S		8.192	6.890	5.579
	TOTAL IMPORTS		0.000	1.058	1.479
	Earnings Per Share (Rs.)		5.21	5.24	5.77

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	3.10	3.13	3.55
Debt Equity Ratio (Total Liability/Networth)		0.31	0.25	0.33
Current Ratio (Current Asset/Current Liability)		1.65	1.67	1.55

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	2.500	2.500	2.500
Reserves & Surplus	10.643	11.954	13.257
Net worth	13.143	14.454	15.757
long-term borrowings	1.626	1.800	2.241
Short term borrowings	2.761	1.837	2.658
Total borrowings	4.387	3.637	4.899
Debt/Equity ratio	0.334	0.252	0.311

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	40.675	45.689	45.005
		12.327	(1.497)

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	40.675	45.689	45.005
Profit	1.442	1.311	1.302
	3.55%	2.87%	2.89%

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 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	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

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Long Term Borrowings
Loans and Advances from Related Parties
From Kamal Agarwal	0.000	0.000
-K. C. Agarwal	0.234	0.234
-Meenakshi Agarwal	1.190	1.190
Total	1.424	1.424

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10466604	25/10/2013	400,000.00	ORIENTAL BANK OF COMMERCE	PANCHSHEEL PARK, DELHI, DELHI - 110017, INDIA	B92137645
2	10432693	14/05/2013	300,000.00	ORIENTAL BANK OF COMMERCE	PANCHSHEEL PARK, DELHI, DELHI - 110017, INDIA	B77779981
3	10234875	14/07/2010	400,000.00	ORIENTAL BANK OF COMMERCE	PANCHSHEEL PARK, NEW DELHI, NEW DELHI, DELHI - 11 0049, INDIA	A91966846
4	80001079	08/03/2008 *	15,000,000.00	ORIENTAL BANK OF COMMERCE	17, PANCHSHEEL PARK, COMMERCIAL COMPLEX, NEW DELH I, NEW DELHI, DELHI - 110017, INDIA	A34201863
5	80001078	08/03/2008 *	15,000,000.00	ORIENTAL BANK OF COMMERCE	17, PANCHSHEEL PARK, COMMERCIAL COMPLEX, NEW DELH I, NEW DELHI, DELHI - 110017, INDIA	A34201855

* Date of charge modification

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.62.19
UK Pound	1	Rs.92.93
Euro	1	Rs.68.03

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	RSM
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.