MIRA INFORM REPORT

Report No. :	318347
Report Date :	20.04.2015

IDENTIFICATION DETAILS

Name :	FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED

Registered Office :	C-45/2, MIDC Area, Miraj - 416410, Maharashtra
Tel No.:	91-233-2644332

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	30.06.1984

Com. Reg. No.:	11-033333

Capital Investment / Paid-up Capital :	Rs.4.000 Million

CIN No.: [Company Identification No.]	U33129MH1984PTC033333

TIN No.:	Not Available

IEC No.:	0388175907

TAN No.: [Tax Deduction & Collection Account No.]	KLPF00099B

PAN No.: [Permanent Account No.]	AAAFF32891

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Material Testing Machine.

No. of Employees :	35 (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 89000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered normal 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

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 :	Ms. Arti
Designation :	Account Department
Contact No.:	91-233-2644332

LOCATIONS

Registered Office/ Factory :	C-45/2, MIDC Area, Miraj - 416410, Maharashtra, India
Tel. No.:	91-233-2644332 / 2644532 / 2644832
Mobile No.:	91-9850507360 (Mr. Yunus)
Fax No.:	91-233-2644334
E-Mail :	san_finetest@sancharnet.in jitu_160372@yahoo.com response@finegrouptest.com sales@finegrouptest.com services@finegrouptest.com purchase@finegrouptest.com mailbox@finegrouptest.com
Website :	http://www.finegrouptest.com
Area :	3000 Sq. Ft.
Location :	Owned

DIRECTORS

As on 30.09.2013

Name :

Mr. Kedar Shankar Joshi

Designation :

Director

Address :

Atharva, Plot No. 1, Hudco Colony, Near Laxmi Temple, Sangli – 416416, Maharashtra, India

Date of Birth/Age :

29.06.1977

Date of Appointment :

07.06.2000

DIN No.:

00113436

Other Directorship:

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

U33129MH1984PTC033333

FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED

Director

07/06/2000

Active

U31909PN2000PTC015032

OPTO-FINE INSTRUMENTS PRIVATE LIMITED

Director

23/06/2000

Active

Name :

Mr. Yeshwant Vasudev Kulkarni

Designation :

Director

Address :

Mrunmai, Akuj Nagar, Kupwad Road, Sangli – 416425, Maharashtra, India

Date of Birth/Age :

20.09.1948

Date of Appointment :

01.04.2006

DIN No.:

00113546

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	U31200PN1987PTC044159	FASNE TEST EQUIPMENT PRIVATE LIMITED	Director	23/07/1987	23/07/1987	-	Active	NO
2	U33123MH1987PTC042552	BALANCING INSTRUMENTS AND EQUIPMENTS (MIRAJ) PRIVATE LIMITED	Whole-time director	08/12/2000	08/12/2000	-	Active	NO
3	U33129MH1984PTC033333	FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO
4	U29299PN2004PTC019823	META-TEST INSTRUMENTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

Name :

Mrs. Arti Anant Deshpande

Designation :

Director

Address :

Guruprasad, Plot – 45, Pandharpur Road, Miraj – 416410, Maharashtra, India

Date of Birth/Age :

15.06.1947

Date of Appointment :

01.04.2008

DIN No.:

00368033

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	U31909PN2000PTC015032	OPTO-FINE INSTRUMENTS PRIVATE LIMITED	Director	23/06/2000	23/06/2000	-	Active	NO
2	U33129MH1984PTC033333	FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
3	U31200PN1987PTC044159	FASNE TEST EQUIPMENT PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

Name :

Mr. Rahul Anant Deshpande

Designation :

Additional Director

Address :

Lokmanya Colony, Miraj – 416410, Maharashtra, India

Date of Birth/Age :

15.06.1947

Date of Appointment :

16.10.2009

DIN No.:

00435947

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	U29299PN2004PTC019823	META-TEST INSTRUMENTS PRIVATE LIMITED	Director	06/10/2004	06/10/2004	-	Active	NO
2	U31909PN2000PTC015032	OPTO-FINE INSTRUMENTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
3	U33129MH1984PTC033333	FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED	Director	16/10/2009	29/05/2009	-	Active	NO
4	U31200PN1987PTC044159	FASNE TEST EQUIPMENT PRIVATE LIMITED	Director	16/10/2009	16/10/2009	-	Active	NO
5	U85100PN2012PTC142966	AMEYA LASERS AND RESEARCH PRIVATE LIMITED	Director	13/04/2012	13/04/2012	-	Active	NO

Name :

Mrs. Anita Shankar Joshi

Designation :

Director

Address :

Atharva, Plot No. 1, Hudco Colony, Near Laxmi Temple, Sangli – 416416, Maharashtra, India

Date of Birth/Age :

15.03.1949

Date of Appointment :

01.04.2008

DIN No.:

02114051

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	U33129MH1984PTC033333	FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
2	U31909PN2000PTC015032	OPTO-FINE INSTRUMENTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
3	U31200PN1987PTC044159	FASNE TEST EQUIPMENT PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

Name :

Mrs. Yogini Yeshwant Kulkarni

Designation :

Director

Address :

Mrunmai, Akuj Nagar, Kupwad Road, Sangli – 416425, Maharashtra, India

Date of Birth/Age :

09.07.1953

Date of Appointment :

01.04.2008

DIN No.:

02206437

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	U29299PN2004PTC019823	META-TEST INSTRUMENTS PRIVATE LIMITED	Director	06/10/2004	06/10/2004	-	Active	NO
2	U31909PN2000PTC015032	OPTO-FINE INSTRUMENTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
3	U31200PN1987PTC044159	FASNE TEST EQUIPMENT PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
4	U33129MH1984PTC033333	FINE SPAVY ASSOCIATES AND ENGINEERS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	07/01/2014	Active	NO

KEY EXECUTIVES

Name :	Ms. Aarti
Designation :	Account Department

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders		No. of Shares
Badkundri Govind Prakash		436
Deshpande Anant Arti		444
Joshi Ramkrishna Shankar		1850
Kulkarni Vasudev Yeshwant		5096
Joshi Shankar Anita		2133
Kulkarni Yeshwant Yogini		3591
Joshi Ramkrishna Shankar		2977
Kulkarni Yeshwant Shardul		3103
Joshi Shankar Kedar		3040
Joshi Ramkrishna Shankar		2697
Joshi Kedar Archna		636
Kulkarni Yashwant Shardul		933
Deshpande Rahul Uttara		500
Kulkarni Yeshwant Yogini		610
Deshpande Anant Arti		8982
Deshpande Anant Arti		1109
Deshpande Anant Rahul		889
Deshpande Anant Rahul		974
Total		40000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	99.00
Directors or relatives of Directors	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Material Testing Machine.

Products :	Analogue Tensile Testing Machine Digital Rockwell Hardness Tester Hardness Testing Machine Analogue cum Computerized Universal Testing Chain Testing Machine Rockwell Hardness Tester Dynamic Balancing Machines Vickers Hardness Testing Machine Material Testing Machine Brinell Hardness Testers Micro Vickers Hardness Tester ASTM Impact Testing Machines Vertical Dynamic Hardness Testers Computerisd Universal Testing Machine Surgical Microscopes Portable Hardness Testers

Brand Names :	--

Agencies Held :	--

Exports :
Products :	Finished Goods
Countries :	South America Gulf Countries

Imports :
Products :	Raw Materials
Countries :	China USA Japan

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Fortune Foundries Private Limited
Marc Enterprises
Poly Hydron Systems Private Limited, Baroda

Customers :

Reference :	Hi – Tech India Equipment Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

Bankers :

Bank of Baroda, Post Box No. 69,39, Vakhar Bhag, Mahavir Nagar, High School Road, Sangli - 416416, Maharashtra, India
HDFC Bank, Branch Sangli, Maharashtra, India
HDFC Bank, Branch Miraj, Maharashtra, India
ICICI Bank
The Sangli Bank Limited
Central Bank of India

Facilities :


Auditors :
Name :	A V Manavi and Company Chartered Accountant
Address :	Ashirwad, 294, R K Extension, Sangli - 416410, Maharashtra, India
PAN No.:	ABLPM0075D

Memberships :	--

Collaborators :	--

Related Parties :	Fanse Test Equipments Private Limited Balancing Instrument Private Limited Opto Fine Instrument Private Limited Fine IT Solutions Private Limited Meta Fine Instrument Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

40000	Equity Shares	Rs.100/- each	Rs.4.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

40000	Equity Shares	Rs.100/- each	Rs.4.000 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	4.000	4.000	4.000
(b) Reserves & Surplus	27.198	19.576	15.045
(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)	31.198	23.576	19.045

(3) Non-Current Liabilities
(a) long-term borrowings	2.402	5.544	5.612
(b) Deferred tax liabilities (Net)	0.360	0.280	0.212
(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)	2.762	5.824	5.824

(4) Current Liabilities
(a) Short term borrowings	1.500	2.142	4.127
(b) Trade payables	2.223	1.487	3.140
(c) Other current liabilities	10.063	13.701	6.244
(d) Short-term provisions	7.486	2.761	2.905
Total Current Liabilities (4)	21.272	20.091	16.416

TOTAL	55.232	49.491	41.285

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.146	5.984	6.626
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.940	0.646	0.636
(e) Other Non-current assets	0.002	0.002	0.002
Total Non-Current Assets	7.088	6.632	7.264

(2) Current assets
(a) Current investments	0.001	0.001	0.001
(b) Inventories	9.534	8.728	17.010
(c) Trade receivables	19.026	18.041	11.293
(d) Cash and cash equivalents	14.669	12.549	2.710
(e) Short-term loans and advances	4.778	3.238	2.881
(f) Other current assets	0.136	0.302	0.126
Total Current Assets	48.144	42.859	34.021

TOTAL	55.232	49.491	41.285

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Sales (Exports + Indigenous)		114.157	91.188	82.101
		Other Income		NA	NA	NA
		TOTAL (A)		NA	NA	NA

	EXPENSES
		TOTAL (B)		NA	NA	NA

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			18.948	10.464	10.213

Less	FINANCIAL EXPENSES (D)			0.766	0.653	0.618

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			18.182	9.811	9.595

Less	DEPRECIATION/ AMORTISATION (F)			1.413	1.591	1.619

	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			16.769	8.220	7.976

Less	TAX (H)			5.980	2.676	2.551

	PROFIT/(LOSS) AFTER TAX (G-H) (I)			10.789	5.544	5.425

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			6.590	4.758	3.910

Less	APPROPRIATIONS
			Transfer to General Reserve	2.055	1.987	1.699
			Interim Dividend	2.600	0.800	1.800
			Tax on Dividend	0.428	0.130	0.296
			Debenture redemption reserves	0.822	0.795	0.680
			Other reserves	0.055	0.000	0.102
	BALANCE CARRIED TO THE B/S			11.419	6.590	4.758

	Earnings / (Loss) Per Share (Rs.)			270.00	NA	NA

Expected Sales (2014-2015): Rs.130.000 Million

The above information has been parted by Ms. Aarti

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	9.45	6.08	6.61

Operating Profit Margin (PBDIT/Sales)	(%)	16.60	11.48	12.44

Return on Total Assets (PBT/Total Assets}	(%)	30.36	16.61	19.32

Return on Investment (ROI) (PBT/Networth)		0.54	0.35	0.42

Debt Equity Ratio (Total Debt /Networth)		0.13	0.33	0.51

Current Ratio (Current Asset/Current Liability)		2.26	2.13	2.07

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	4.000	4.000	4.000
Reserves & Surplus	15.045	19.576	27.198
Share Application money pending allotment	0.000	0.000	0.000
Net worth	19.045	23.576	31.198

Long Term borrowings	5.612	5.544	2.402
Short Term borrowings	4.127	2.142	1.500
Total borrowings	9.739	7.686	3.902
Debt/Equity ratio	0.511	0.326	0.125

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 (Exports + Indigenous)	82.101	91.188	114.157
		11.068	25.189

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 (Exports + Indigenous)	C	91.188	114.157
Profit	5.425	5.544	10.789
	6.61%	6.08%	9.45%

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	Yes
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

RESULTS OF OPERATION

Indigenous Sales of the company for the period were increased to Rs.114.157 Million from Rs.91.188 Million showing increase in the Indigenous sales. Company’s aggregate sales shows increasing trend. Companies’ profit after tax is Rs.10.789 Million as compared to previous year figure of Rs.5.544 Million showing increasing trend.

Due to improvement in market condition there is increase in aggregate turnover of the company as compared to previous financial year, as a result there is improvement in profit of company showing increase in overall performance of your company.

As a result of constant and concerted efforts of the directors to explore export market for the company’s products, the company is receiving lot of enquiries from overseas market. It is a matter of pride for your company that with the motto of maintaining good quality of company’s product and prompt services, your company has established goodwill in the overseas market.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90086961	25/11/2004 *	1,020,000.00	Bank Of Baroda	Sangli Branch; 39 Vakhar Bhag, High School Road, Sangli, Maharashtra, India	-
2	90085234	26/11/2011 *	9,000,000.00	Bank Of Baroda	Post Box No. 69,39, Vakhar Bhag, Mahavir Nagar, Highschool Road,, Sangli, Maharashtra - 416416, India	B27330315
3	90084991	10/02/1999	6,000,000.00	Bank Of Baroda	High School Road, Sangli, Maharashtra - 416416, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.35
UK Pound	1	Rs.93.10
Euro	1	Rs.77.13

INFORMATION DETAILS

Information Gathered by :	GYT

Analysis Done by :	SUB

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
--PROFITABILITY	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO

TOTAL		46

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.

MIRA INFORM REPORT

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