MIRA INFORM REPORT

Report No. :	338824
Report Date :	27.08.2015

IDENTIFICATION DETAILS

Name :	KLAXON TRADING PRIVATE LIMITED
Registered Office :	Warehouse A-97B, Khasra No. 50/4, Behind Friends Dharam Kanta, Shahbad Daulatpur, New Delhi - 110042
Mobile No.:	91-9971269888 (Mr. Pawan)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.07.1992
Com. Reg. No.:	55-197039
Capital Investment / Paid-up Capital :	Rs.10.000 Million
CIN No.: [Company Identification No.]	U51900DL1992PTC197039
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of trading of Metals.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 310000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and established company incorporated during the year 1992 having a satisfactory track record. Profit margin of the company is low However, net worth position of the company is satisfactory. General financial position of the company is normal and acceptable for business dealings. Further, the rating also takes into consideration decent liquidity position of the company and favorable gap between trade payable and trade receivable. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct. In view of long track record and acceptable financial base 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 – 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 DECLINED BY

Name :	Mr. Pawan
Designation :	Manager
Contact No.:	91-9971269888
Date :	26.08.2015

LOCATIONS

Registered Office :	Warehouse A-97B, Khasra No. 50/4, Behind Friends Dharam Kanta, Shahbad Daulatpur, New Delhi – 110042, India
Tel. No.:	Not Available
Mobile No.:	91-9971269888 (Mr. Pawan)
Fax No.:	91-
E-Mail :	klaxontrading@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Rajesh Dua
Designation :	Director
Address :	AD-29, Tagore Garden, New Delhi - 110027, India
Date of Birth/Age :	27.07.1971
Date of Appointment :	13.02.2014
DIN No.:	01054677
Name :	Mr. Chirag Dua
Designation :	Director
Address :	AD-29, Tagore Garden, New Delhi - 110027, India
Date of Birth/Age :	29.11.1990
Date of Appointment :	22.03.2010
DIN No.:	03011012

KEY EXECUTIVES

Name :	Mr. Pawan
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Salasar Mettalurgicals Private Limited, India	199660
Shani Solution Private Limited, India	178000
Charvak Trading Private Limited, India	28150
Organza Trading Private Limited, India	44000
Varun Dua	95000
Seema Dua	80000
Fagun Dua	30000
Jyoti Grover	76500
Mona Grover	75850
Pramod Grover	77840
Sonu Grover	90000
Karanvir Kad	25000
Total	1000000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	45.00
Directors or relatives of Directors	55.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is primarily engaged in the business of trading of Metals.
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 :

Information declined by the management

Bankers :

Banker Name	Axis Bank Limited
Branch Address	2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loan From Bank (Kotak Bank Car Loan)	0.534	0.848
SHORT TERM BORROWING
Bank Overdraft	20.007	0.000
Loan from Others	0.000	43.510
Total	20.541	44.358

Auditors :
Name :	Suraj Garg and Associates Chartered Accountanta
Address :	C-619, Saraswati Vihar, Pitampura, Delhi – 110034, India
Tel. No.:	91-11-41538995
Fax No.:	91-11-47529870
E-Mail :	casurajgarg@gmail.com
Website:	www.casurajgarg.com
PAN N Income-tax PAN of auditor or auditor's firm :	ABUFS4612B
Memberships :	Not Available
Collaborators :	Not Available
Company in which KMP can exercise significant influence:	Charvak Trading Private Limited Baisakhi Ram Girdharilal Private Limited Salasar Metallurgicals Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 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	10.000	10.000	10.000
(b) Reserves & Surplus	99.914	95.667	91.530
(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)	109.914	105.667	101.530
(3) Non-Current Liabilities
(a) long-term borrowings	0.534	1.798	0.000
(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)	0.534	1.798	0.000
(4) Current Liabilities
(a) Short term borrowings	20.007	43.510	0.550
(b) Trade payables	26.368	20.027	0.000
(c) Other current liabilities	12.947	13.127	7.917
(d) Short-term provisions	2.088	1.354	0.545
Total Current Liabilities (4)	61.410	78.018	9.012
TOTAL	171.858	185.483	110.542
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.395	1.837	0.855
(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	0.608	0.608	6.108
(c) Deferred tax assets (net)	0.149	0.069	0.072
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	2.888	0.111	0.104
Total Non-Current Assets	6.040	2.625	7.139
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	39.106	0.000	4.778
(c) Trade receivables	34.839	101.994	57.890
(d) Cash and cash equivalents	74.473	64.927	25.678
(e) Short-term loans and advances	17.062	0.567	15.023
(f) Other current assets	0.338	15.370	0.034
Total Current Assets	165.818	182.858	103.403
TOTAL	171.858	185.483	110.542

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES
Income	541.860	354.366	402.962
Other Income
TOTAL	541.860	354.366	402.962
EXPENSES	533.008	347.528	400.790
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	8.852	6.838	2.172
FINANCIAL EXPENSES	1.880	0.480	0.363
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	6.972	6.358	1.809
DEPRECIATION/ AMORTISATION	0.716	0.364	0.352
PROFIT/ (LOSS) BEFORE TAX	6.255	5.994	1.457
PROVISION FOR TAXATION	2.088	1.853	(0.546)
PROVISION FOR DEFERRED TAX	0.079	(0.002)	0.067
PROFIT/ (LOSS) AFTER TAX	4.246	4.137	0.978
Earnings / (Loss) Per Share (Rs.)	4.25	4.14	0.98

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) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	3.66	3.24	1.40
Return on Investment (ROI) (PBT/Networth)		0.06	0.06	0.01
Debt Equity Ratio (Total Debt /Networth)		0.19	0.43	0.01
Current Ratio (Current Asset/Current Liability)		2.70	2.34	11.47

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	10.000	10.000	10.000
Reserves & Surplus	91.530	95.667	99.914
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	101.530	105.667	109.914
long-term borrowings	0.000	1.798	0.534
Short term borrowings	0.550	43.510	20.007
Total borrowings	0.550	45.308	20.541
Debt/Equity ratio	0.005	0.429	0.187

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	402.962	354.366	541.860
		(12.060)	52.910

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	402.962	354.366	541.860
Profit	0.978	4.137	4.246
	0.24%	1.17%	0.78%

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	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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan from Director	0.000	0.950
Total	0.000	0.950

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10486594	22/03/2014	40,000,000.00	AXIS BANK LIMITED	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	C01055615

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Search was carried on Company by income tax office and case is pending before Investigation Department. The company had surrendered an income of Rs. 0.630 Million in its surrender letter dated 24/06/2014 for Financial Year 2014-15.	0.260	0.000
Also company has paid DVAT Demand for FY 2010-11 of Rs. 0.260 Million which has been challenged by it at relevant forum.	1.362	0.000
Also company has paid Excise Duty demand of Rs 2.500 Million which has been challenged by it at relevant forum.	2.500	0.000

FIXED ASSETS

• Air Conditioner
• Car
• Computer
• Mobile Phone
• Furniture and Fittings
• Electronic Weighting Scale

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.66.16
UK Pound	1	Rs.103.88
Euro	1	Rs.75.89

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		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.