MIRA INFORM REPORT

Report No. :	353009
Report Date :	05.12.2015

IDENTIFICATION DETAILS

Name :	SUNLAND ALLOYS
Registered Office :	2659, Sadar Thana Road, Sadar Bazar, Delhi - 110006
Tel. No.:	91-11-23523263 / 23615512
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.12.2003
Capital Investment / Paid-up Capital :	Rs. 230.380 Million (As on 31.03.2013)
IEC No.:	0303077212
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	AAXFS1913K
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Manufacturer of Ferrous and Non Ferrous Metal. (Confirmed by management)
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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 was established in the year 2003 as partnership concern and it is a manufacturer of ferrous and non-ferrous metals. The concern business operations are managed by Mr. Sanjeev Kumar Agarwal, Mr. Pravin Kumar Ranka, Mr. Abhishek Kumar Kachhara, and Master Anish Agarwal. Rating reflect the extensive experience of partner’s in the alloys industry marked by concern’s established track record of business operations along with its established relationships with its customers and suppliers. However, rating strength is partially offset by susceptibility of its revenues and margins to cyclicality in the end-user industries. Trade relations are reported as fair. Payment terms are reported to be slow but correct. The concern can be considered for business dealings at usual trade and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating BB+
Rating Explanation	Inadequate-credit-quality and high credit risk.
Date	June 19, 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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Mukesh Chaturvedi
Designation :	Account Head
Contact No.:	91-9870992401
Date :	03.12.2015

LOCATIONS

Registered Office :	2659, Sadar Thana Road, Sadar Bazar, Delhi - 110006, India
Tel. No.:	91-11-23523263 / 23615512
Mobile No.:	91-9818482365 (Mr. Sanjeev K. Aggarwal)
Fax No.:	91-11-23535076
E-Mail :	sushil_288@yahoo.com info@sunland.co.in
Web :	http://www.sunland.co.in
Location :	Rented
Factory :	Survey No. 116/2/1, Jawahar Road, Rudana Silvassa-396230, Dadra and Nagar Haveli, India
Location :	Owned
Branch Office 1 :	301/302, Virany House, Jambul Wadi, Kalbadevi, Mumbai – 400002, Maharashtra, India
Area :	1200 Sq. ft.
Location :	Rented
Branch Office 2 :	A Block, 501-507, Ramji House, 30 Jambul Wadi, Kalba Devi Road, Near Cinema, Mumbai – 400002, Maharashtra, India

PARTNERS

Name :	Mr. Sanjeev K Aggarwal
Designation :	Partner
Address :	17/33 Shakti Nagar, Delhi-110007, India
Qualification :	B.Com
Name :	Mr. Pravin K Ranka
Designation :	Partner
Address :	C-301,Kailash Tower, Opposite Odean Cinema, Ghatkopar (East), Mumbai-400077, Maharashtra, India
Qualification :	B.Com
Name :	Mr. Abhishek Kachhara
Designation :	Partner
Address :	Q/B Abhilasha Building 46, August  Kranti Marg, Gowalia Tank, Mumbai - 400036, Maharashtra, India
Qualification :	MBA from Pune University
Name :	Master Anish Aggarwal
Designation :	Partner
Address :	17/33 Shakti Nagar, Delhi-110007, India

KEY EXECUTIVES

Name :	Mr. Mukesh Chaturvedi
Designation :	Account Head

BUSINESS DETAILS

Line of Business :	Manufacturer of Ferrous and Non Ferrous Metal. (Confirmed by management)
Products :	Ferrous Metal Non Ferrous Metal
Brand Names :	---
Agencies Held :	---
Exports :	Not Available
Imports :
Products :	Aluminium Scrap
Countries :	Middle East United Kingdom China
Terms :
Selling :	Cash, Credit (30/60/90 Days)
Purchasing :	Cash, Credit (30/60/90 Days)

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers, Retailers, End Users, OEM’s

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

No. of Employees :

100 (Approximately)

Bankers :

Banker Name :	ICICI Bank Limited
Branch Address :	Bandra (East), Mumbai, Maharashtra, India
Person Name :	91-9820287398
Contact No.:	Not Available
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)	No Facilities
Account Operation	Not Available
Remarks (If any)	Number Not Responding

Auditors :
Name :	Himanshu Aggarwal Chartered Accountant
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Not Available

CAPITAL STRUCTURE

As on 31.03.2013

Capital Investment :
Owned :	Rs. 230.380 Million
Borrowed :	--
Total :	Rs. 230.380 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars	31.03.2015	31.03.2014
Sales Turnover (Approximately)	5000.000	3800.000

The above information has been parted by Mr. Mukesh Chaturvedi (Accounts Head)

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2013
SHAREHOLDERS FUNDS
1] Partner’s Capital		230.380
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		230.380
LOAN FUNDS
1] Secured Loans		296.628
2] Unsecured Loans		145.011
TOTAL BORROWING		441.639
DEFERRED TAX LIABILITIES		0.000
TOTAL		672.019
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		30.075
Capital work-in-progress		0.000
INVESTMENT		1.000
DEFERRED TAX ASSETS		0.685
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	275.843
	Sundry Debtors	270.851
	Cash & Bank Balances	26.262
	Other Current Assets	0.000
	Loans & Advances	117.685
Total Current Assets		690.641
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	27.919
	Other Current Liabilities	0.000
	Provisions	22.463
Total Current Liabilities		50.382
Net Current Assets		640.259
MISCELLANEOUS EXPENSES		0.000
TOTAL		672.019

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	3404.923
		Other Income	11.232
		TOTAL	3416.155
Less	EXPENSES
		Cost of goods sold	3196.478
		Advertisement	0.015
		Audit Fees	0.021
		Bank Charges	3.361
		Boarding and Loading Expenses	0.197
		Car Expenses	0.349
		Conveyance Expense	0.152
		Courier Charges	0.048
		Electricity Charges	0.122
		Festival Expenses	0.134
		Interest P/M Building, Stock	0.190
		Lab Charges	0.094
		Repairs & Maintenance – Building	0.936
		Repairs & Maintenance – Generator	0.076
		Repairs & Maintenance – Machinery	2.476
		Staff Kitchen Expenses	0.772
		Wages & Salary	4.733
		Waste Handling Charges	0.009
		Electric Power	2.222
		Other Expense	160.150
		TOTAL	3372.535
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		43.620
Less/ Add	DEPRECIATION/ AMORTISATION		4.276
	NET PROFIT		39.344

KEY RATIOS

PARTICULARS		31.03.2013
Net Profit Margin (PAT/Sales)	(%)	1.16
Return on Total Assets (PBT/Total Assets}	(%)	6.04
Return on Investment (ROI) (PBT/Networth)		0.19
Debt Equity Ratio (Total Debt/Networth)		1.92
Current Ratio (Current Asset/Current Liability)		0.01

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	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	No
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 one years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	Yes
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.66.74
UK Pound	1	Rs.99.61
Euro	1	Rs.70.66

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.