MIRA INFORM REPORT

Report No. :	336378
Report Date :	10.08.2015

IDENTIFICATION DETAILS

Name :	POWERTECH POLLUTION CONTROLS PRIVATE LIMITED

Registered Office :	No. 22/3, R M Rajanna Building, Munikrishnappa Road, Ramachandrapura, Jalahalli Post, Bangalore – 560013, Karnataka
Tel. No.:	91-80-23452156/ 23452258

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	12.04.1996

Com. Reg. No.:	08-020276

Capital Investment / Paid-up Capital :	Rs. 0.500 Million

CIN No.: [Company Identification No.]	U90009KA1996PTC020276

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	BLRP04763D

PAN No.: [Permanent Account No.]	AAACP8195Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Pollution Control Devices.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 14700

Status :	Small Company

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a small company established in the year 1996. It is the manufacturer and exporter of air pollution control equipment. For the financial year 2014, the company possesses small scale of business activities. It has minimal sales turnover along with low profit earnings. Company has moderate financial risk profile and small networth position. Trade relations are fair. Business is active. Payment terms are slow but correct. In view of limited scale of business operations, 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

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 DECLINED

MANAGEMENT NON-COOPERATIVE

(CONTACT NO.: 91-80-23452156)

LOCATIONS

Registered Office :	No. 22/3, R M Rajanna Building, Munikrishnappa Road, Ramachandrapura, Jalahalli Post, Bangalore – 560013, Karnataka, India
Tel. No.:	91-80-23452156/ 23452258
Fax No.:	91-80-23452445
E-Mail :	powertech@airtelmail.in philipthomas@powertechindia.com
Website :	http://www.powertechindia.com http://www.powertechpollutioncontrols.co.in

DIRECTORS

AS ON 29.09.2014

Name :

Mrs. Leena Philip

Designation :

Director

Address :

No. 196, 8^th A Main, NTI Layout, Vidyarnypura, Bangalore – 560097, Karnataka, India

Date of Birth/Age :

31.07.1957

Date of Appointment :

12.04.1996

DIN No.:

00797018

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	U03210KA1996PTC020181	RAELIS POWERTECH PRIVATE LIMITED	Director	29-03-1996	29-03-1996	Active	NO
2	U90009KA1996PTC020276	POWERTECH POLLUTION CONTROLS PRIVATE LIMITED	Director	12-04-1996	12-04-1996	Active	NO

Name :

Mr. Philip Thomas

Designation :

Director

Address :

No. 196, 8^th A Main, NTI Layout, Vidyarnypura, Bangalore – 560097, Karnataka, India

Date of Birth/Age :

14.12.1953

Date of Appointment :

12.04.1996

DIN No.:

00797071

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	U03210KA1996PTC020181	RAELIS POWERTECH PRIVATE LIMITED	Director	29-03-1996	29-03-1996	Active	NO
2	U90009KA1996PTC020276	POWERTECH POLLUTION CONTROLS PRIVATE LIMITED	Director	12-04-1996	12-04-1996	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Leena Philip	1260	25.20
Philip Thomas	3740	74.80

Total	5000	100.00

AS ON 29.09.2014

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

Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Pollution Control Devices.

Brand Names :	--

Agencies Held :	--

Exports :
Products :	Not Divulged
Countries :	Not Divulged

Imports :
Products :	Not Divulged
Countries :	Not Divulged

Terms :
Selling :	Not Divulged

Purchasing :	Not Divulged

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 :

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 :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 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

· State Bank of Mysore

Small and Medium Enterprises City Credit Centre, No.8/6, 2nd Floor, Ranga Rao Road, Shankarapuram, Bangalore - 560004, Karnataka, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Vehicle loan from SBM Vyalikaval	0.000	0.268
SHORT TERM BORROWINGS
Working Capital loan from Bank – Cash Credit	3.400	2.786

Total	3.400	3.054

Banking Relations :	--

Auditors :
Name :	Narayan Bhat and Company Chartered Accountants
Address :	No.309, 'Shresta Bhumi' No.87, K.R. Road (Opposite KIMS), Shankarpuram, Bangalore – 560004, Karnataka, India
Tel. No.:	91-80-26624174/ 41204484
Fax No.:	91-80-41204484
Income-tax PAN of auditor or auditor's firm :	AAGFN7709K

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5,000	Equity Shares	Rs. 100/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

5,000	Equity Shares	Rs. 100/- 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	4.649	4.378	3.747
(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)	5.149	4.878	4.247

(3) Non-Current Liabilities
(a) Long-term borrowings	0.051	0.292	0.344
(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)	0.051	0.292	0.344

(4) Current Liabilities
(a) Short term borrowings	3.400	2.786	2.516
(b) Trade payables	3.381	3.712	5.601
(c) Other current liabilities	2.241	2.010	1.701
(d) Short-term provisions	0.685	0.646	0.516
Total Current Liabilities (4)	9.707	9.154	10.334

TOTAL	14.907	14.324	14.925

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.224	2.781	2.901
(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)	0.513	0.308	0.130
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2.737	3.089	3.031

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.835	3.892	4.014
(c) Trade receivables	2.196	2.981	4.780
(d) Cash and cash equivalents	1.892	1.364	0.753
(e) Short-term loans and advances	2.247	2.998	2.347
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	12.170	11.235	11.894

TOTAL	14.907	14.324	14.925

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	30.691	42.824	44.612

Less	EXPENSES
		TOTAL	30.528	42.097	43.709

	PROFIT BEFORE TAX		0.163	0.727	0.903

Less	TAX		(0.108)	0.096	0.281

	PROFIT AFTER TAX		0.271	0.631	0.622

	Earnings Per Share (Rs.)		54.19	126.28	124.40

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA

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}	(%)	1.13	5.19	6.10

Return on Investment (ROI) (PBT/Networth)		0.03	0.15	0.21

Debt Equity Ratio (Total Liability/Networth)		0.67	0.63	0.67

Current Ratio (Current Asset/Current Liability)		1.25	1.23	1.15

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	3.747	4.378	4.649
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4.247	4.878	5.149

Long-term borrowings	0.344	0.292	0.051
Short term borrowings	2.516	2.786	3.400
Total borrowings	2.860	3.078	3.451
Debt/Equity ratio	0.673	0.631	0.670

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	44.612	42.824	30.691
		(4.008)	(28.332)

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	44.612	42.824	30.691
Profit	0.622	0.631	0.271
	1.39%	1.47%	0.88%

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	No
8	Designation of contact person	No
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	No
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	No
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	10011370	19/12/2013 *	5,000,000.00	STATE BANK OF MYSORE	SMALL & MEDIUM ENTERPRISES CITY CREDIT CENTRE, NO. 8/6,2ND FLOOR, RANGA RAO ROAD, SHANKARAPURAM, BANGALORE, KARNATAKA - 560004, INDIA	B94122488
2	90195782	18/06/2004	950,000.00	STATE BANK OF MYSORE	VYALIKAVAL BRANCH, VYALIKAVAL, BANGALORE, KARNATAKA - 560003, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
From Shareholders/ Directors	0.051	0.024

Total	0.051	0.024

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from No.1133-1134, 1st Floor, 1st Main, Yeshwanthpur, Bangalore - 560022, Karnataka, India to the present address w.e.f.05.05.2009

FIXED ASSETS:

· Vehicles

· Computer

· Electrical Installation

· Telephone Equipment

· Tools and Accessories

· Other Equipments

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. 98.76
Euro	1	Rs. 69.88

INFORMATION DETAILS

Information Gathered by :	GYT

Analysis Done by :	TRI

Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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		27

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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