MIRA INFORM REPORT

Report No. :	313549
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	MULTITEC INDUSTRIES LIMITED
Formerly Known as :	MULTITEC TOOLS PRIVATE LIMITED
Registered Office :	House No.120, Khasra No.363, Kapashera, New Delhi – 110037
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.02.1995
Com. Reg. No.:	55-065282
Capital Investment / Paid-up Capital :	Rs.5.000 Million
CIN No.: [Company Identification No.]	U74899DL1995PLC065282
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RTKM03308E
PAN No.: [Permanent Account No.]	AADCM9204G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Trading of Machinery Tools and Tools Kit.
No. of Employees :	62 (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

Maximum Credit Limit :	USD 53000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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

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 (GENERAL DETAILS)

Name :	Mr. Narendra Pal
Designation :	Marketing Manager
Contact No.:	91-9810019320
Date :	28.03.2015

LOCATIONS

Registered Office :	House No.120, Khasra No.363, Kapashera, New Delhi – 110037, India
Tel. No.:	Not Available
Mobile No.:	91-9810019320 (Mr. Narendra Pal)
Fax No.:	Not Available
E-Mail :	multitecindustries@hotmail.com
Locality :	Industrial
Location :	Owned
Factory 1 :	Plot No.15, Village : Lekeswari, Shiv Ganga Industrial Estate, Bhagwanpur, Roorkee, Haridwar, Uttarakhand, India
Location :	Owned
Factory 2 :	129, Udyog Vihar, Phase – I, Gurgaon – 122016, Haryana, India

DIRECTORS

As on : 30.09.2014

Name :	Mr. Amit Kumar Aggarwal
Designation :	Director
Address :	P-79, South Extension Part – II, New Delhi – 110049, India
Date of Birth/Age :	03.08.1977
Date of Appointment :	01.06.1995
DIN No.:	00980883
Name :	Mr. Timi Bala Aggarwal
Designation :	Director
Address :	P-79, NDSE, Part - II, New Delhi – 110049, India
Date of Birth/Age :	13.10.1950
Date of Appointment :	10.02.1995
DIN No.:	00980924
Name :	Mr. Manish Kumar Aggarwal
Designation :	Director
Address :	P-79, N.D.S.E, Part - II, New Delhi – 110049, India
Date of Birth/Age :	27.05.1974
Date of Appointment :	01.06.1995
DIN No.:	01373818
Name :	Mr. Gunjan Aggarwal
Designation :	Director
Address :	P-79, N.D.S.E, Part - II, New Delhi – 110049, India
Date of Birth/Age :	16.05.1980
Date of Appointment :	07.02.2005
DIN No.:	01374193
Name :	Ms. Parul Priya Aggarwal
Designation :	Director
Address :	P-79, South Extension Part – II, New Delhi – 110049, India
Date of Birth/Age :	13.06.1976
Date of Appointment :	07.02.2005
DIN No.:	01862988

KEY EXECUTIVES

Name :	Mr. Narendra Pal
Designation :	Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares	%age
Amit Kumar Aggarwal	148900	29.78
Gunjan Aggarwal	20000	4.00
Manish Kumar Aggarwal	87600	17.52
Parul Priya Aggarwal	32500	6.50
Timi Bala Aggarwal	122600	24.52
Ashok Kumar Agarwal (HUF)	15000	3.00
Ashok Kumar Agarwal	73100	14.62
Satish Kumar Manocha	100	0.02
Archana Agarwal	100	0.02
Alka Agarwal	100	0.02
Total	500000	100.00

As on : 30.09.2014

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 :	Manufacturing and Trading of Machinery Tools and Tools Kit.
Products :	Wire Strippers Screw Drivers Crimping Tools Allen Keys Pneumatic Screw Driver Bits Nipper / Flus Cutter Cable Cutters Multipurpose Tools
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cheque
Purchasing :	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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

• Geetanjali Enterprises
• Goyal Enterprises
• Indian Trading Agency
• V S Enterprises
• Aash Logistics
• Jet Trading Company
• NSW India Limited
• Sheetal Sales and Company

Customers :

Reference :	Mansoor
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

• Alico Industrial ENT. –Bangalore
• Arora Enterprises. Noida
• Bhavya Engineering Company. Jaipur
• Gayatri Machine Tools. Surat
• Shah Traders. Surat
• Ratna Agencies
• Vyas and Company. Ahmedabad
• Vasu Engineers. Delhi

No. of Employees :

62 (Approximately)

Bankers :

Banker Name	The Bank of Rajasthan Limited
Branch Address	E-17, NDSE-II, New Delhi – 110049, 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

• Small Industries Development Bank of India

Udyog Minar Vanijya Nikunj, Udyog Vihar Phase-V, Gurgaon - 122016, Haryana, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
(A) (1)Term loan from Bank
INDUSIND Bank Tata – 407 Loan – 13080	0.000	0.048
ICICI Bank Limit	0.000	2.723
HDFC - 21560	0.259	0.000
Loan form SIDBI	9.700	1.100
(A) (2)Term loan from Other
TATA Motor Finance Limited - 17335	0.146	0.318
SHORT TERM BORROWING
(A) Other loans : From Bank
Bank of Rajasthan Limited – 116954 O/D A/C	0.958	0.000
Total	11.064	4.189

Auditors :
Name :	Rajpal Singh and Associates Chartered Accountants
Address :	202, Sector – 15, Part – 1, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-2312716 / 4035296
Mobile No.:	91-9811115414
E-Mail :	rajpal_yadav@hotmail.com
PAN No.:	AALFR3990F
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 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	5.000	5.000	5.000
(b) Reserves & Surplus	13.627	12.086	9.013
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.172	0.172
Total Shareholders’ Funds (1) + (2)	18.627	17.258	14.185
(3) Non-Current Liabilities
(a) long-term borrowings	10.106	4.189	5.793
(b) Deferred tax liabilities (Net)	2.316	2.031	1.734
(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)	12.422	6.220	7.527
(4) Current Liabilities
(a) Short term borrowings	1.130	0.000	0.000
(b) Trade payables	14.917	24.646	22.386
(c) Other current liabilities	0.401	1.591	2.770
(d) Short-term provisions	0.073	0.129	0.178
Total Current Liabilities (4)	16.521	26.366	25.334
TOTAL	47.570	49.844	47.046
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	27.165	27.551	26.664
(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)	0.058	0.000	0.000
(d) Long-term Loan and Advances	2.125	1.567	0.990
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	29.348	29.118	27.654
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4.968	4.787	5.072
(c) Trade receivables	9.290	13.170	12.035
(d) Cash and cash equivalents	1.795	0.887	1.375
(e) Short-term loans and advances	2.169	1.882	0.899
(f) Other current assets	0.000	0.000	0.011
Total Current Assets	18.222	20.726	19.392
TOTAL	47.570	49.844	47.046

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	33.506	36.515	39.455
		Other Income	0.017	0.000	0.000
		TOTAL	33.523	36.515	39.455
Less	EXPENSES
		Cost of Materials Consumed	21.580	23.480	22.981
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.172)	0.267	0.075
		Employees benefits expense	1.345	1.434	1.451
		Other expenses	6.830	5.810	9.334
		TOTAL	29.583	30.991	33.841
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		3.940	5.524	5.614
Less	FINANCIAL EXPENSES		0.630	0.740	0.870
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		3.310	4.784	4.744
Less/ Add	DEPRECIATION/ AMORTISATION		1.524	1.469	1.333
	PROFIT /(LOSS) BEFORE TAX		1.786	3.315	3.411
Less	TAX		0.246	0.241	(0.262)
	PROFIT/(LOSS) AFTER TAX		1.540	3.074	3.673
	Earnings Per Share (Rs.)		3.08	6.15	7.35

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.60	8.42	9.31
Operating Profit Margin (PBDIT / Sales)	(%)	11.76	15.13	14.23
Return on Total Assets (PBT/Total Assets}	(%)	3.76	6.65	7.25
Return on Investment (ROI) (PBT/Networth)		0.10	0.19	0.24
Debt Equity Ratio (Total Debt /Networth)		0.60	0.24	1.99
Current Ratio (Current Asset/Current Liability)		1.10	0.79	0.77

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	5.000	5.000	5.000
Reserves & Surplus	9.013	12.086	13.627
Net worth	14.013	17.086	18.627
long-term borrowings	5.793	4.189	10.106
Short term borrowings	0.000	0.000	1.130
Total borrowings	5.793	4.189	11.236
Debt/Equity ratio	0.413	0.245	0.603

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)
Sales	39.455	36.515	33.506
		(7.452)	(8.240)

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	39.455	36.515	33.506
Profit	3.673	3.074	1.540
	9.31%	8.42%	4.60%

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	Yes
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	Yes
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
SHORT TERM BORROWING
(B) Term Loans : From Other
From directors and shareholders	0.172	0.000
Total	0.172	0.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	1084789	20/03/2014	9,700,000.00	Small industries development bank of India	Udyog Minar Vanijya Nikunj, Udyog Vihar Phase-V, Gurgaon, Haryana - 122016, INDIA	C00481275
2	1014399	02/02/2009	3,000,000.00	The Bank Of Rajasthan Limited.	E-17, 1st Floor, South Extn. Part-II, New Delhi, Delhi - 110049, INDIA	A57322315
3	10139045	09/01/2009	5,000,000.00	Small Industries Development Bank Of India	Udyog Minar Vanijya Nikunj, Udyog Vihar Phase-V, Gurgaon, Haryana - 122016, INDIA	A55240725
4	90047952	07/06/2000	500,000.00	The Bank Of Rajasthan Limited.	E-17, SOUTH EXTENSION-II, NEW DELHI, Delhi - 1100  49, INDIA	-

* Date of charge modification

FIXED ASSETS

• Car
• Delivery Van
• Computer
• Printer
• Air Conditioner
• Photocopier
• Plant and Machinery
• Fax Machine
• Invertor
• Furniture and Fixture
• Mobile Phone
• Tata Sumo Grandex
• Tata 407
• Factory Building
• Generator Set
• Electrical Fitting
• Fire Extinguisher
• Cycle

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.62.25
UK Pound	1	Rs.92.49
Euro	1	Rs.66.99

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done By :	RSM
Report Prepared by :	RNK

SCORE & RATING EXPLANATIONS

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