MIRA INFORM REPORT

Report No. :	337732
Report Date :	22.08.2015

IDENTIFICATION DETAILS

Name :	SWAROOP TECHNO COMPONENTS PRIVATE LIMITED
Registered Office :	D-48, MIDC, Ranjangaon, Shirur, Pune- -412220, Maharashtra
Tel. No.:	91-2137-670223
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.01.2007
Com. Reg. No.:	11-129519
Capital Investment / Paid-up Capital :	Rs. 3.500 Million
CIN No.: [Company Identification No.]	U29299PN2007PTC129519
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNES20595B
PAN No.: [Permanent Account No.]	AAKCS6291G
Legal Form :	Private Limited Liability Company
Line of Business :	The company manufacturer direct – home dish antennas, aluminium, extrusion, and tape felts used in television and kitchen handles.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 140000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Rating takes into consideration above average financial risk profile of the company marked by adequate reserves and fair profitability reported in FY 14. However, rating constraints on account of decrease in sales turnover in the year under consideration. 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	CRISIL
Rating	Long term Rating BB-
Rating Explanation	Inadequate credit quality and high credit risk
Date	13.11.2014

Rating Agency Name	CRISIL
Rating	Short term Rating A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	13.11.2014

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 DENIED

Management non-cooperative (91-2138-670223)

LOCATIONS

Registered Office :	D-48, MIDC, Ranjangaon, Shirur, Pune- -412220, Maharashtra, India
Tel. No.:	91-2137-670223
Fax No.:	91-2137-670224
E-Mail :	swaroopaccounts@gmail.com
Website :	www.swarooptechno.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Narpat Arjunram Mistri
Designation :	Director
Address :	Wonder City, Building G, Flat No-1004, Pune-411046, Maharashtra, India
Date of Birth/Age :	15.05.1968
Date of Appointment :	24.01.2007
DIN No.:	00988056
Name :	Mr. Manoharlal Arjunrao Mistri
Designation :	Whole-Time Director
Address :	S.No.7/1/10, Jambhulwadi Road,, Ambegoan Khurd, Pune, 411046, Maharashtra, India
Date of Birth/Age :	01.10.1979
Date of Appointment :	24.01.2007
DIN No.:	00505265
Name :	Mr. Swaroop Arjunram Mistry
Designation :	Director
Address :	Wonder Galaxy, Fl. No. 1004, Wonder City, Katraj, Pune-411046, Maharashtra, India
Date of Birth/Age :	12.06.1982
Date of Appointment :	05241422
DIN No.:	29.03.2012

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Narpat Arjunram Mistri	209999
Manoharlal Arjunrao Mistri	70000
Swaroop Arjunram Mistry	70000
Moolshankar Kundanlal Purohit	1
Total	350000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	The company manufacturer direct – home dish antennas, aluminium, extrusion, and tape felts used in television and kitchen handles.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Not Divulged

Bankers :

Bank Name	Union Bank of India
Branch	SSI Branch, F.C. Road, Pune - 411005, Maharashtra, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from Banks *
Term loans	4.665	15.401
Vehicle Loan	0.167	1.345
Short-term borrowings	0
Term loan from banks	5.000	0.000
Cash Credit	29.255	20.000
Total	39.087	36.746

Banking Relations :	--
Auditors :
Name :	MZSK and Associates Chartered Accountants
Address :	Level 3, Business Bay, Plot No. 84, Wellesley Road, Next To RTO, (Sangam Bridge), Pune-411001, Maharashtra, India
Tel. No.:	91-20-26225500
Fax No.:	91-20-26225670
Website :	www.mzsk.in
PAN N Income-tax PAN of auditor or auditor's firm :	AACFK3470E
Memberships :	--
Collaborators :	--
Enterprises in which key Management Personnel are Interested :	Pooja Engineering Works

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
350,000	Equity Shares	Rs.10/- each	Rs. 3.500 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	3.500	3.500	3.500
(b) Reserves & Surplus	46.409	35.248	33.391
(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)	49.909	38.748	36.891
(3) Non-Current Liabilities
(a) long-term borrowings	17.576	24.378	13.207
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.118	0.100	0.000
(d) long-term provisions	1.804	1.854	1.993
Total Non-current Liabilities (3)	19.498	26.332	15.200
(4) Current Liabilities
(a) Short term borrowings	34.255	24.991	25.291
(b) Trade payables	41.820	39.372	39.874
(c) Other current liabilities	10.896	18.123	16.104
(d) Short-term provisions	5.387	0.200	0.250
Total Current Liabilities (4)	92.358	82.686	81.519
TOTAL	161.765	147.766	133.610
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	68.128	71.572	60.541
(ii) Intangible Assets	0.100	0.167	0.278
(iii) Capital work-in-progress	3.141	2.555	1.940
(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	0.000	0.000	0.000
(e) Other Non-current assets	20.110	7.731	10.746
Total Non-Current Assets	91.479	82.025	73.505
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	28.157	17.637	36.637
(c) Trade receivables	34.563	25.435	19.283
(d) Cash and cash equivalents	5.275	19.622	1.065
(e) Short-term loans and advances	0.667	1.891	1.250
(f) Other current assets	1.624	1.156	1.870
Total Current Assets	70.286	65.741	60.105
TOTAL	161.765	147.766	133.610

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES		NA	NA	NA
	PROFIT BEFORE TAX		11.093	2.744	9.916
Less	TAX		6.073	0.886	2.778
	PROFIT AFTER TAX		5.020	1.858	7.138
	Earnings Per Share (Rs.)		14.34	5.31	23.59

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	3.332	10.987	6.880
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
Return on Total Assets (PBT/Total Assets}	(%)	6.99	1.89	7.53
Return on Investment (ROI) (PBT/Networth)		0.22	0.07	0.27
Debt Equity Ratio (Total Debt /Networth)		1.26	1.93	1.63
Current Ratio (Current Asset/Current Liability)		0.76	0.80	0.74

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	3.500	3.500	3.500
Reserves & Surplus	33.391	35.248	46.409
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	36.891	38.748	49.909
long-term borrowings	13.207	24.378	17.576
Short term borrowings	39.874	39.372	41.820
Current maturities of long-term debts	6.880	10.987	3.332
Total borrowings	59.961	74.737	62.728
Debt/Equity ratio	1.625	1.929	1.257

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	Yes
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	No
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	Yes
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

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From Directors	16.076	18.621
Less : Current Maturities	(3.332)	(10.989)
Short-term borrowings
From Banks	0.000	4.991
Total	12.744	12.623

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10491028	15/04/2014	755,000.00	Union Bank of India	Union Bank of India, SSI Branch,1184/4,Shr enath  Plaza, F.C.Road, Pune, Maharashtra - 411005, INDIA	C03304862
2	10078922	27/12/2014 *	105,600,000.00	Union Bank of India	SSI Branch,1184/4,Shreenath Plaza,F.C.Road, Dyane  shwar Paduka Chowk, Pune, Maharashtra - 411005, INDIA	C54757273

* Date of charge modification

FIXED ASSETS

· Furniture and fixture

· Office equipment

· Plant and machinery

· Vehicle

· Land

· Factory building

· Electrical installation

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.65.83
UK Pound	1	Rs.103.38
Euro	1	Rs.74.27

INFORMATION DETAILS

Information Gathered by :	GAY
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	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.