MIRA INFORM REPORT

Report No. :	335204
Report Date :	07.08.2015

IDENTIFICATION DETAILS

Name :	PARQUET FURNISHERS PRIVATE LIMITED
Registered Office :	D-48, First Floor, Ajay Enclave, Near Subhash Crossing, New Delhi - 110018
Tel. No.:	91-124-4984900/ 4006524
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.02.1995
Com. Reg. No.:	55-064936
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U74899DL1995PTC064936
IEC No.:	0596061501
TAN No.: [Tax Deduction & Collection Account No.]	DELP08672G
PAN No.: [Permanent Account No.]	AAACP4573G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Importer of Wooden Flooring. [Manufacturing done through Jobwork]
No. of Employees :	28 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 39000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 1995. It has a moderate track record. For the financial year 2014, the company has reported average operational activity and achieved minimal profit earnings. The rating is constrained on account of company’s moderate financial risk profile marked by modest networth position and huge borrowings taken by the company. Trade relations are reported as fair. Business is active. Payment terms are slow but correct. In view of moderate financial base, 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Ranjan
Designation :	Accounts Manager
Contact No.:	91-124-4984900
Date :	31.07.2015

LOCATIONS

Registered Office :	D-48, First Floor, Ajay Enclave, Near Subhash Crossing, New Delhi – 110018, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cakalra@hsaco.in info@woodfloorsindia.com helpdesk@woodfloorsindia.com
Website :	http://www.woodfloorsindia.com
Corporate Office :	213, Udyog Vihar Phase 6, Gurgaon - 122002, Haryana, India
Tel. No.:	91-124-4984900 (30 Lines)/ 4006524
Fax No.:	91-124-4006521

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Bhopinder Pal Singh

Designation :

Director

Address :

C-35, Sushant Lok-I, Gurgaon – 122003, Haryana, India

Date of Birth/Age :

08.10.1987

Date of Appointment :

01.02.1995

DIN No.:

01100598

Name :

Mr. Navinder Singh Soin

Designation :

Director

Address :

C-35, Sushant Lok-I, Gurgaon – 122003, Haryana, India

Date of Birth/Age :

07.10.1971

Date of Appointment :

10.04.1995

DIN No.:

01087375

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	Company/ LLP Status	Defaulting status
1	U74899DL1995PTC064936	PARQUET FURNISHERS PRIVATE LIMITED	Director	10-04-1995	10-04-1995	Active	NO
2	U92412DL2010PTC204685	ASTRAL SPORTS FACTORY PRIVATE LIMITED	Additional director	07-12-2010	07-12-2010	Active	NO
3	U93000DL2013PTC249340	IHEALTHKONNECT (INDIA) PRIVATE LIMITED	Director	12-03-2013	12-03-2013	Active	NO

Name :

Mrs. Sudha Bhopinder Singh

Designation :

Director

Address :

C-35, Sushant Lok-I, Gurgaon – 122003, Haryana, India

Date of Birth/Age :

27.03.1940

Date of Appointment :

01.02.1995

DIN No.:

01152051

KEY EXECUTIVES

Name :	Mr. Ranjan
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Bhopinder Pal Singh	6000	12.00
Sudha Bhopinder Singh	3900	7.80
Navinder Singh Soin	40100	80.20
Total	50000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Importer of Wooden Flooring. [Manufacturing done through Jobwork]
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :
Products :	Raw Material
Countries :	· China · Malaysia · Brazil · Australia
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

28 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Sushant Lok, Phase-1, Gurgoan, Haryana, India
Person Name (with Designation):	Mr. Ajay Kumar Garg
Contact Number:	91-124-4201330 [Not Responding]
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Punjab National Bank

New Delhi, India

· Bank of Maharashtra

Sushant Lok-1, Gurgoan - 122002, Haryana, India

· IDBI Bank Limited

· Canara Bank

· ICICI Bank Limited

· Punjab and Sind Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Loans repayable on demand - From Bank – Cash Credit	6.997	49.580
Total	6.997	49.580

Auditors :
Name :	H. S. Ahuja and Company Chartered Accountants
Address :	H-61, Gobind Mansion Connaught Circus, New Delhi – 110001, India
Tel. No.:	91-11-45874900-05/ 23322581
Fax No.:	91-11-43065194
E-Mail :	ca@hsahujaandco.com
Income-tax PAN of auditor or auditor's firm :	AAAFH1929B
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

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
50,000	Equity Shares	Rs. 10/- each	Rs. 0.500 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	0.500	0.500	0.500
(b) Reserves & Surplus	13.307	12.806	12.377
(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)	13.807	13.306	12.877
(3) Non-Current Liabilities
(a) Long-term borrowings	54.207	11.864	11.834
(b) Deferred tax liabilities (Net)	0.000	0.015	0.052
(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)	54.207	11.879	11.886
(4) Current Liabilities
(a) Short term borrowings	6.997	49.580	27.686
(b) Current maturities of Long-term borrowings	14.806	4.014	12.480
(c) Trade payables	12.203	9.630	8.580
(d) Other current liabilities	1.216	0.997	0.150
(e) Short-term provisions	0.291	0.268	0.370
Total Current Liabilities (4)	35.513	64.489	49.266
TOTAL	103.527	89.674	74.029
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	31.802	32.735	33.612
(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	0.279	0.279
(c) Deferred tax assets (net)	0.017	0.000	0.000
(d) Long-term Loan and Advances	3.745	3.295	3.295
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	35.564	36.309	37.186
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	21.799	20.405	17.435
(c) Trade receivables	28.447	12.677	11.567
(d) Cash and cash equivalents	7.231	4.417	3.013
(e) Short-term loans and advances	9.893	15.614	4.819
(f) Other current assets	0.593	0.252	0.009
Total Current Assets	67.963	53.365	36.843
TOTAL	103.527	89.674	74.029

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Turnover	93.000	84.400	85.100
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		0.727	0.627	1.437
Less	TAX		0.227	0.199	0.493
	PROFIT AFTER TAX		0.500	0.428	0.944
	Earnings Per Share (Rs.)		10.00	8.56	18.88

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current maturities of long term borrowings
Term Loans
From Banks	0.000	0.000	8.765
Term Loans
From Banks	10.014	0.699	1.522
From Financial Institutions	4.793	3.315	2.193
Total	14.807	4.014	12.480
Cash Generated from operations	NA	NA	NA
Net Cash flow from (used in) Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.70	0.70	1.95
Return on Investment (ROI) (PBT/Networth)		0.05	0.05	0.11
Debt Equity Ratio (Total Liability/Networth)		5.51	4.92	4.04
Current Ratio (Current Asset/Current Liability)		1.91	0.83	0.75

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	0.500	0.500	0.500
Reserves & Surplus	12.377	12.806	13.307
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	12.877	13.306	13.807
Long-term borrowings	11.834	11.864	54.207
Short term borrowings	27.686	49.580	6.997
CURRENT MATURITIES OF LONG-TERM DEBTS	12.480	4.014	14.807
Total borrowings	52.000	65.458	76.011
Debt/Equity ratio	4.038	4.919	5.505

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)
Turnover	85.100	84.400	93.000
		-0.823	10.190

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Turnover	85.100	84.400	93.000
Profit	0.944	0.428	0.500
	1.11%	0.51%	0.54%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10383768	02/03/2013 *	32,000,000.00	BANK OF MAHARASHTRA	SUSHANT LOK-1, GURGOAN, HARYANA - 122002, INDIA	B70456504
2	10361360	30/05/2012	7,600,000.00	HDB FINANCIAL SERVICES LIMITED	RADHIKA, 2ND FLOOR, LAW GARDEN ROAD, NAVRANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA	B41926742
3	10067848	11/07/2012 *	2,687,294.00	PUNJAB & SIND BANK	H S ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005,  INDIA	B43282557

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Term Loans
From Banks	1.307	1.655
From Financial Institutions	42.833	5.554
Loans and Advances from Related Parties	7.268	1.856
Other Loans and advances	2.799	2.799
Total	54.207	11.864

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from 5, Community Centre, Phase I, Naraina Industrial Area, New Delhi - 110028, India to the present address w.e.f.05.03.2007

FIXED ASSETS:

· Air Conditioner

· Land

· Building

· Computer

· Furniture and Fixture

· Machinery

· Generator

· Telephone Instrument

· Other Equipment

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. 63.76
UK Pound	1	Rs. 99.60
Euro	1	Rs. 69.71

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	TRI
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	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		29

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.