MIRA INFORM REPORT

Report No. :	352045
Report Date :	02.12.2015

IDENTIFICATION DETAILS

Name :	HIMGIRI ENGINEERS
Registered Office :	B-75, D.S.I.D.C., Flatted Factories Complex, Near Bus Turminal, Kalyan Puri, Delhi - 110091
Tel. No.:	91-11-22787355
Country :	India
Financials (as on) :	31.3.2014
Year of establishment :	10.03.1955
Capital Investment / Paid-up Capital :	Rs.4.855 Million
IEC No.:	0506006379
TIN No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AFQPD3748H
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer and Trader of Industrial Automation Instrument.
No. of Employees :	8 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and established proprietorship concern started in the year 1955 having satisfactory track record. Mr. S P Dhyani (Proprietor) has provided information of the subject to us. The concern has decent financial position with sales turnover of Rs. 19.500 million along with net profit of Rs.0.670 million recorded during the year 2014. Further, the rating also considers concern’s long track record of business operations. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. In view of aforesaid, the concern can be considered 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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. S P Dhyani
Designation :	Proprietor
Contact No.:	91-11-22787355
Date :	30.11.2015

LOCATIONS

Registered Office/ Factory:	B-75, D.S.I.D.C., Flatted Factories Complex, Near Bus Turminal, Kalyan Puri, Delhi – 110091, India
Tel. No.:	91-11-22787355
Fax No.:	Not Available
E-Mail :	himgiriengineers2014@gmail.com
Area :	5000 Sq. Ft.
Location :	Owned
Locality:	Industrial

SOLE PROPRIETOR

Name :	Mr. S P Dhyani
Designation :	Proprietor
Date of Birth/Age :	60 Years
Qualification :	Diploma Instrumentation
Experience :	45 Years

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Industrial Automation Instrument.
Products/Services :	Industrial Automation Instrument
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Gulf Countries Mexico Middle East
Imports :
Products :	Spare Part
Countries :	European Countries
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Suppliers :

Reference :	ABB India Limited
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 :

Retailers and End Users

Reference :

Sidharth Paper Limited, Kashipur, Uttarakhand, India

Name of the Person :

Mr. Atul Agarwal (Purchased Head)

Contact No.:

91-9837509030

Since How Long Known :

8 Years

Maximum Limit Dealt :

--

Experience :

Product Quality	Delivery Behaviour	Overall
Excellent	Excellent	Excellent

Remark: Mr. Atul Agarwal gave positive response about subject company in product quality delivery behavior.

No. of Employees :

8 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Kalyan Puri (Branch), New Delhi, India
Person Name (With Designation)	Not Available
Contact Number	91-11-22771640
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Ringing

Auditors :
Name :	D K Arya and Company Chartered Accountants
Address :	New Delhi, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs.4.855 Million
Borrowed :	--
Total :	Rs.4.855 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		4.855	4.333
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		4.855	4.333
LOAN FUNDS
1] Secured Loans		0.520	0.773
2] Unsecured Loans		1.776	1.360
TOTAL BORROWING		2.296	2.133
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		7.151	6.466
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.309	2.254
Capital work-in-progress		0.000	0.000
INVESTMENT		0.155	0.155
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.413	7.823
	Sundry Debtors	2.614	2.881
	Cash & Bank Balances	0.559	1.200
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.025
Total Current Assets		6.586	11.929
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.859	7.559
	Other Current Liabilities	0.000	0.049
	Provisions	0.040	0.264
Total Current Liabilities		1.899	7.872
Net Current Assets		4.687	4.057
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		7.151	6.466

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	19.510	19.699
	Other Income	0.000	0.170
	TOTAL	19.510	19.869
Less	EXPENSES
	Cost of Goods Sold	17.124	15.351
	Fright and Forwarding Wages and Cartage	0.011	0.929
	Accounting Charges	0.026	0.000
	Association Fee	0.004	0.000
	Bank Charges	0.006	0.032
	Audit Fees	0.025	0.000
	Commission Charges	0.002	0.000
	Computer Expenses	0.012	0.008
	Conveyance Expenses	0.001	0.026
	Electricity Expenses	0.051	0.046
	Insurance Car	0.018	0.005
	Interest on CST	0.003	0.000
	Interest on VAT	0.002	0.000
	Interest on Personal Loan	0.123	0.192
	Other expenses	1.159	1.647
	TOTAL	18.567	18.236
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.943	1.633
Less	DEPRECIATION/ AMORTISATION	0.271	0.251
	NET PROFIT	0.672	1.382

Particulars	31.03.2015
Sales Turnover (Approximately)	10.000

Expected Sales (2015-2016): Rs.16.000 Million

The above information has been parted by Mr. S. P Dhyani (Proprietor).

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	3.44	7.02
Return on Total Assets (PBT/Total Assets}	(%)	10.20	11.59
Return on Investment (ROI) (PBT/Networth)		0.14	0.32
Debt Equity Ratio (Total Debt /Networth)		0.47	0.49
Current Ratio (Current Asset/Current Liability)		3.47	1.52

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	4.333	4.855
Reserves & Surplus	0.000	0.000
Net worth	4.333	4.855
Secured Loans	0.773	0.520
Unsecured Loans	1.360	1.776
Total borrowings	2.133	2.296
Debt/Equity ratio	0.492	0.473

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	19.699	19.510
		(0.959)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	19.699	19.510
Profit	0.672	1.382
	3.41%	7.08%

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last two years	Yes
30	Major shareholders, if available	No
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

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.66.52
UK Pound	1	Rs.100.44
Euro	1	Rs.70.44

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	HEE
Report Prepared by :	GEET

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--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.