MIRA INFORM REPORT

Report No. :	317342
Report Date :	14.04.2015

IDENTIFICATION DETAILS

Name :	CHEMI TECH ENGINEERS PRIVATE LIMITED
Registered Office :	104-Roots Tower, Laxmi Nagar District Centre, New Delhi – 110092
Tel. No.:	91-11-42448460 / 61
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.04.1997
Com. Reg. No.:	55-086439
Capital Investment / Paid-up Capital :	Rs.18.635 Million
CIN No.: [Company Identification No.]	U45201DL1997PTC086439
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 :	Trader of all type of chemicals and also engaged in construction business.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company has witnessed increase in its turnover, but the profitability of the company has decreased during FY2014. The rating also takes into consideration fair liquidity of the company. The rating remains constrained on account of huge receivables and payables which is ever increasing and may affect liquidity of the company in the future. However, trade relations reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings at usual trade terms and conditions.

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. Nand Kishore Gupta
Designation :	Director
Contact No.:	91-9818437035
Date :	13.04.2015

LOCATIONS

Registered Office :	104-Roots Tower, Laxmi Nagar District Centre, New Delhi – 110092
Tel. No.:	91-11-42448460 / 61
Mobile No.:	91-9818437035 (Mr. Nand Kishore Gupta)
Fax No.:	91-11-42448458
E-Mail :	chemitechpl@yahoo.co.in
Area :	620 Sq. Ft.
Location :	Owned
Branch 1 :	Plot No.1/C, New DLF Industrial Area, Faridabad – 121003, Haryana, India
Branch 2 :	C-39, Sector – 8, Noida – 201301, Uttar Pradesh, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Nand Kishore Gupta

Designation :

Director

Address :

C-87/A, Sector-26, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

07.05.1966

Date of Appointment :

04.04.1997

DIN No. :

00481939

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	U45201DL1997PTC086439	CHEMI TECH ENGINEERS PRIVATE LIMITED	Director	04/04/1997	04/04/1997	-	Active	NO
2	U70109DL2006PTC150620	CHEMI TECH CONSTRUCTIONS PRIVATE LIMITED	Director	06/07/2006	06/07/2006	-	Active	NO

Name :

Mr. Darshanlal Gupta

Designation :

Director

Address :

D-2, 2^nd Floor, Lajpat Nagar-2, New Delhi- 110024, India

Date of Birth/Age :

10.06.1963

Date of Appointment :

04.04.1997

DIN No. :

00481892

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	U45201DL1997PTC086439	CHEMI TECH ENGINEERS PRIVATE LIMITED	Director	04/04/1997	04/04/1997	-	Active	NO
2	U45201DL2006PTC145187	SHIVANGI PROPTECH PRIVATE LIMITED	Director	20/01/2006	20/01/2006	29/12/2014	Active	NO
3	U70109DL2006PTC150620	CHEMI TECH CONSTRUCTIONS PRIVATE LIMITED	Director	06/07/2006	06/07/2006	-	Active	NO

Name :

Mrs. Sunita Gupta

Designation :

Director

Address :

D-2, 2^nd Floor, Lajpat Nagar-2, New Delhi- 110024, India

Date of Birth/Age :

10.09.1964

Date of Appointment :

27.07.2011

DIN No. :

03584100

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Darshanlala Gupta	986340	52.93
Nand Kishore Gupta	644558	34.59
Bhajanlal Gupta	113783	6.11
Neeta Gupta	57408	3.08
Sunita Gupta	61446	3.30
Total	1863535	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 :	Trader of all type of chemicals and also engaged in construction business.
Products :	Chemical
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Chemical Products
Countries :	China South Africa
Terms :
Selling :	Advance Payment and Credit
Purchasing :	Advance Payment and Credit (60 Days)

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Reliance Industries, Noida, Uttar Pradesh, India
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 :

Reference :	Uflex Industries, Noida, Uttar Pradesh, India
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 :

70 (Approximately)

Bankers :

Banker Name	Vijaya Bank
Branch Address	Ansari Road Branch, Daryaganj, New Delhi – 110002, 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)	L/C = Rs.180.000 Million Cash Credit = Rs.70.000 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
LONG TERM BORROWING
Vijaya Bank Car Loan	3.527	0.810
Toyota car loan from Toyota finance limited	0.147	0.612
SHORT TERM BORROWING
From Vijaya Bank	48.534	48.178
Vijaya Bank Car Loan	0.189	0.000
Toyota car loan from Toyota finance limited	0.252	0.000
Total	52.649	49.600

Auditors :
Name :	Jaikrit Malik and Associates Chartered Accountants
Address :	11/216, 1st Floor, Teliwara, Shahdara, Near Shahdara Metro Station, New Delhi – 110032, India
Tel. No.:	91-11-22300100
Mobile No.:	91-8800545374
E-Mail :	cajaikritmalik@hotmail.com jma2011@rocketmail.com
PAN No.:	AYCPM7414J
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

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
1863535	Equity Shares	Rs.10/- each	Rs.18.635 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	18.635	18.635	17.935
(b) Reserves & Surplus	50.327	45.523	35.421
(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)	68.962	64.158	53.356
(3) Non-Current Liabilities
(a) long-term borrowings	19.788	16.075	2.643
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	19.788	16.075	2.643
(4) Current Liabilities
(a) Short term borrowings	48.975	48.178	68.395
(b) Trade payables	148.873	122.117	131.687
(c) Other current liabilities	4.209	3.169	9.389
(d) Short-term provisions	2.133	6.517	3.273
Total Current Liabilities (4)	204.190	179.981	212.744
TOTAL	292.940	260.214	268.743
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.462	5.987	6.163
(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)	0.188	0.154	0.106
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	1.910
Total Non-Current Assets	10.650	6.141	8.179
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.834	20.236	17.079
(c) Trade receivables	225.370	182.052	201.829
(d) Cash and cash equivalents	28.026	28.569	17.658
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	5.060	23.216	23.998
Total Current Assets	282.290	254.073	260.564
TOTAL	292.940	260.214	268.743

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	836.931	586.000
	Other Income	16.405	16.885
	TOTAL	853.336	602.885	581.516
Less	EXPENSES
	Cost of Materials Consumed	81.438	48.123
	Purchases of Stock-in-Trade	705.160	490.598
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.209	(1.511)	(Including Financial Expenses)
	Employees benefits expense	4.735	3.888
	Freight and Cartage	21.911	10.592
	Custom duty and wet	5.532	8.522
	Sub-Contractor	2.403	9.813
	Other expenses	9.308	9.291
	TOTAL	830.696	579.316	575.293
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	22.640	23.569
Less	FINANCIAL EXPENSES	14.491	12.131
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	8.149	11.438	6.223
Less/ Add	DEPRECIATION/ AMORTISATION	1.245	0.940	1.056
	PROFIT/ (LOSS) BEFORE TAX	6.904	10.498	5.167
Less	TAX	2.099	3.197	1.555
	PROFIT/ (LOSS) AFTER TAX	4.805	7.301	3.612
	Earnings / (Loss) Per Share (Rs.)	2.58	3.92	1.94

Expected Sales (2014-2015): Rs.850.000 Million

The above information has been parted by Mr. Nand Kishore Gupta (Director).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Total Income)	(%)	0.56	1.21	0.62
Operating Profit Margin (PBDIT / Sales)	(%)	2.71	4.02	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.36	4.04	1.92
Return on Investment (ROI) (PBT/Networth)		0.10	0.16	0.10
Debt Equity Ratio (Total Debt /Networth)		1.00	1.00	1.33
Current Ratio (Current Asset/Current Liability)		1.38	1.41	1.22

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	17.935	18.635	18.635
Reserves & Surplus	35.421	45.523	50.327
Net worth	53.356	64.158	68.962
long-term borrowings	2.643	16.075	19.788
Short term borrowings	68.395	48.178	48.975
Total borrowings	71.038	64.253	68.763
Debt/Equity ratio	1.331	1.001	0.997

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	581.516	586.000	836.931
		0.771	42.821

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	581.516	586.000	836.931
Profit	3.612	7.301	4.805
	0.62%	1.25%	0.57%

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	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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	3.045	1.084
Others	13.069	13.569
Total	16.114	14.653

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10521509	17/09/2014	100,000,000.00	The Hong Kong and Shanghai Banking Corporation Limited	25, Barakhamba Road, New Delhi, Delhi - 110001, INDIA	C22028500
2	10521506	19/08/2014	10,000,000.00	The Hong Kong and Shanghai Banking Corporation Limited	25, Barakhamba Road, New Delhi, Delhi - 110001, INDIA	C22026280
3	10469978	23/12/2013	3,600,000.00	VIJAYA BANK	ANSARI ROAD BRANCH, DARYAGANJ, NEW DELHI, Delhi - 110002, INDIA	B93429082
4	90038904	31/03/2004	600,000.00	VIJAYA BANK	ANSARI ROAD, DARYA GANJ, NEW DELHI, Delhi, INDIA	-
5	90035838	10/07/2014 *	250,000,000.00	Vijaya Bank	NO 2/10, ANSARI ROAD, DARYAGANJ, NEW DELHI, Delhi - 110002, INDIA	C19070416
6	90035688	12/02/2000	2,290,036.00	VIJAYA BANK	ANSARI ROAD, DARYA GANJ, NEW DELHI, Delhi, INDIA	-

* Date of charge modification

FIXED ASSETS

• Air Conditioner
• Building
• Computer
• Cycle
• Electronics Equipment
• Fan
• Plant and Machinery
• Furniture

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.62.39
UK Pound	1	Rs.91.06
Euro	1	Rs.66.16

INFORMATION DETAILS

Information Gathered by :	RKH
Analysis Done by :	SUM
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	4
--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		41

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.