MIRA INFORM REPORT

Report No. :	337410
Report Date :	20.08.2015

IDENTIFICATION DETAILS

Name :	P. D. GOYAL TRADE AND INVESTMENT LIMITED
Registered Office :	36, Kasera Bazaar, Indore- 452001, Madhya Pradesh
Mobile No.:	91-9302433751 (Mr. Pankaj Goyal) 91-9302433752 (Mr. Prahalad Goyal)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.08.1993
Com. Reg. No.:	10-007823
Capital Investment / Paid-up Capital :	Rs. 4.131 Million
CIN No.: [Company Identification No.]	U27101MP1993PLC007823
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing and Trading of Iron and Steel Goods.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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. Rating takes into consideration decent operational performance of the company marked by growth in revenue base along with fair profitability in FY14. However, rating constraints on account of increase in short terms borrowings of the company in the year under consideration leading to slightly high gearing. However, 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 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 – 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Pankaj Goyal
Designation :	Director
Contact No.:	91-9302433751
Date :	19.08.2015

LOCATIONS

Registered Office :	36, Kasera Bazaar, Indore- 452001, Madhya Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9302433751 (Mr. Pankaj Goyal) 91-9302433752 (Mr. Prahalad Goyal)
Fax No.:	Not Available
E-Mail :	sngindore@yahoo.co.in pdgtil1993@gmail.com
Location :	Rented
Locality :	Commercial
Warehouse :	238/239, Sector E, Industrial Area, Sanwer Road, Indore-452015, Madhya Pradesh, India

DIRECTORS

As on 30.09.2014

Name :	Mr. Prahaladdas Goyal
Designation :	Managing Director
Address :	27, Dilpasand Colony, Race Cource Road, Indore-452001, Madhya Pradesh, India
Date of Birth/Age :	12.10.1951
Date of Appointment :	17.08.1993
DIN No.:	00773764
Name :	Mr. Pankaj Goyal
Designation :	Whole-Time Director
Address :	36, Kasera Bazar, Indore, 452001, Madhya Pradesh, India
Date of Birth/Age :	07.01.1974
Date of Appointment :	17.08.1993
DIN No.:	00977783
Name :	Mr. Ashish Goyal
Designation :	Director
Address :	27, Dilpasand Colony, Race Cource Road, Indore-452001, Madhya Pradesh, India
Date of Birth/Age :	08.01.1978
Date of Appointment :	10.10.2003
DIN No.:	00773740

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	11.50
Directors or relatives of Directors	57.50
Other top fifty shareholders	31.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Manufacturing and Trading of Iron and Steel Goods.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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

No. of Employees :

12 (Approximately)

Bankers :

Bank Name	State Bank Of India
Branch	SME Branch, Aimo Building, Pologround, Indore - 452003, Madhya Pradesh, 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

City Union Bank Limited, Palasia , Indore, Madhya Pradesh, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term Borrowings
City Union Bank Limited, Palasia Br, Indore (CCOD)-152137	33.705	29.995
From other	3.003	0.000
Total	36.708	29.995

Banking Relations :

--

Auditors :

Name :

Satyanarayan Goyal and Company

Chartered Accountants

Address :

"Sai Sharnam", 70, Jaora Compound, Behind Pooja Dairy, Indore- 452001, Madhya Pradesh, India

Tel. No.:

91-731-2701279,2703208

Fax No.:

91-731-2571475

E-Mail :

Sngoyal_ca@yahoo.com

Website :

www.casngoyal.com

PAN N Income-tax PAN of auditor or auditor's firm :

ACMFS1782M

Memberships :

--

Collaborators :

--

Associates/Subsidiaries :

Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
413,100	Equity Shares	Rs.10/- each	Rs. 4.131 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	4.131	4.131	4.131
(b) Reserves & Surplus	13.301	11.101	9.562
(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)	17.432	15.232	13.693
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.029
(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)	0.000	0.000	0.029
(4) Current Liabilities
(a) Short term borrowings	36.708	29.995	20.693
(b) Trade payables	10.333	2.011	0.606
(c) Other current liabilities	0.981	0.789	0.329
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	48.022	32.795	21.628
TOTAL	65.454	48.027	35.350
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.102	0.096	0.085
(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)	0.009	0.009	0.007
(d) Long-term Loan and Advances	19.723	18.454	0.227
(e) Other Non-current assets	0.061	0.061	0.061
Total Non-Current Assets	19.895	18.620	0.380
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.844	6.837	9.891
(c) Trade receivables	21.243	12.132	14.851
(d) Cash and cash equivalents	0.358	0.572	2.533
(e) Short-term loans and advances	2.793	2.259	1.618
(f) Other current assets	7.321	7.607	6.077
Total Current Assets	45.559	29.407	34.970
TOTAL	65.454	48.027	35.350

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	187.811	174.223	92.832
		Other Income	2.131	1.268	0.011
		TOTAL (A)	189.942	175.491	92.843
Less	EXPENSES
		Purchases of Stock-in-Trade	187.722	164.542	83.124
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(7.007)	3.053	3.972
		Employees benefits expense	0.888	0.678	0.570
		Other expenses	0.863	1.055	0.928
		TOTAL (B)	182.466	169.328	88.594
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.476	6.163	4.249
Less	FINANCIAL EXPENSES (D)		4.276	3.820	3.241
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.200	2.343	1.008
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.018	0.015	0.020
	PROFIT BEFORE TAX (E-F) (G)		3.182	2.328	0.988
Less	TAX (H)		0.983	0.768	0.305
	PROFIT AFTER TAX (G-H) (I)		2.199	1.560	0.683
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.601	5.061	4.378
Add	Excess/(Short) Provision Made Last Year (Income Tax)		0.001	(0.020)	0.000
	BALANCE CARRIED TO THE B/S		8.801	6.601	5.061
	Earnings Per Share (Rs.)		5.32	3.73	1.65

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 flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.17	0.90	0.74
Operating Profit Margin (PBIDT/Sales)	(%)	3.98	3.54	4.58
Return on Total Assets (PBT/Total Assets}	(%)	4.86	4.85	2.80
Return on Investment (ROI) (PBT/Networth)		0.18	0.15	0.07
Debt Equity Ratio (Total Debt /Networth)		2.11	1.97	1.51
Current Ratio (Current Asset/Current Liability)		0.95	0.90	1.62

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	4.131	4.131	4.131
Reserves & Surplus	9.562	11.101	13.301
Net worth	13.693	15.232	17.432
long-term borrowings	0.000	0.000	0.000
Short term borrowings	20.693	29.995	36.708
Total borrowings	20.693	29.995	36.708
Debt/Equity ratio	1.511	1.969	2.106

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)
Revenue from operations	92.832	174.223	187.811
		87.676	7.799

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	92.832	174.223	187.811
Profit	0.683	1.560	2.199
	0.74%	0.90%	1.17%

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: NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

· Scooter

· Honda Activa

· Car

· Electronic Scale

· Electrical Equipment

· Furniture & Fixture

· Dust Clean Fan

· Computer & Printer

· Fax Machine

· Air Conditioner

· Godrej Refrigerator

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.65.25
UK Pound	1	Rs.102.25
Euro	1	Rs.72.19

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KIN
Report Prepared by :	JYTK

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	4
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--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	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		45

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.