MIRA INFORM REPORT

Report No. :	354907
Report Date :	21.12.2015

IDENTIFICATION DETAILS

Name :	KIMITSU TRADING INDIA PRIVATE LIMITED
Registered Office :	L-24/25, Taloja MIDC, Industrial Area, Taloja Panchnad, Panvel, Raigad – 410208, Maharashtra
Tel. No.:	91-22-66510674
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	06.01.2009
Com. Reg. No.:	11-189387
Capital Investment / Paid-up Capital :	Rs. 50.000 Million
CIN No.: [Company Identification No.]	U51109MH2009PTC189387
IEC No.:	0308075951
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCK5644E
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Iron and Steel Products. (Confirmed by Management)
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was established in the year 2009 and it is engaged in trading and importing of iron and steel products. It has moderate track record. Management of the subject has failed to file its latest financials with government department for the year 2015. Further, as per 2014 financial, the company has reported decent profit of Rs. 19 Million from its operations. However, the rating is constrained on account of company’s modest financial risk profile marked by low reserves level, huge borrowings and unfavorable gap between trade payables to its receivables. Trade relations are reported as fair. Business is active. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings with some caution.

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

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. Sameer Harlalka
Designation :	Director
Contact No.:	91-9820235942
Date :	18.12.2015

LOCATIONS

Registered Office :	L-24/25, Taloja MIDC, Industrial Area, Taloja Panchnad, Panvel, Raigad – 410208, Maharashtra, India
Tel. No.:	91-22-66510674
Mobile No.:	91-9820235942 (Mr. Sameer Harlalka)
Fax No.:	91-22-66510667
E-Mail :	kimitsutrading@gmail.com
Location :	Owned
Locality :	Industrial

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Vimal Kumar Chaudhary
Designation :	Director
Address :	701, Dev Ashish Vishnu Baug, S. V. Road, Andheri [West], Mumbai - 400058, Maharashtra, India
Date of Birth/Age :	22.08.1951
Date of Appointment :	06.01.2009
PAN No.:	AAOPC6077H
DIN No.:	00982118
Name :	Mr. Rohan Vimal Chaudhary
Designation :	Director
Address :	701, Dev Ashish Vishnu Baug, S. V. Road, Andheri [West], Mumbai - 400058, Maharashtra, India
Date of Birth/Age :	15.05.1983
Date of Appointment :	06.01.2009
DIN No.:	02169439
Name :	Mr. Sameer Subhash Harlalka
Designation :	Director
Address :	A/21, Dhiraj Apartments, Poddar Road, Malad (East), Mumbai - 400097, Maharashtra, India
Date of Birth/Age :	27.04.1975
Date of Appointment :	06.01.2009
DIN No.:	02178185

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Vimal Kumar Chaudhary	4999700
Rohan Vimal Chaudhary	100
Sameer Subhash Harlalka	100
Vimal Kumar Chaudhary and Jawandamal Dhannamal	100
Total	5000000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader and Importer of Iron and Steel Products. (Confirmed by Management)

Products :

ITC Code No.	Product Descriptions
99721121	Rental or leasing services of factories, Warehouse

Brand Names :

--

Agencies Held :

--

Exports :

--

Imports :

Products :

Raw Material

Countries :

· Japan

· European Countries

· China

Terms :

Selling :

L/C, Cheque and Credit (30 Days and 60 Days)

Purchasing :

L/C, Cheque and Credit (30 Days and 60 Days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

15 (Approximately)

Bankers :

Bank Name:	Kotak Mahindra Bank Limited
Branch:	36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-22-66056825 (Ringing)
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Kotak Mahindra Bank Limited

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	45.193	60.768
Other loans and advances	50.640	0.000
SHORT TERM BORROWINGS
Working capital loans from banks	128.273	112.530
Total	224.106	173.298

Auditors :
Name :	N. K. Sureka and Company Chartered Accountants
Address :	706, J. K. Chambers, Sector 17, Vashi, Navi Mumbai – 400705, Maharashtra, India
Tel. No.:	91-22-27893529/ 27892547
Income-tax PAN of auditor or auditor's firm :	AARPS9211Q
Memberships :	--
Collaborators :	--
Relatives of Key Management Personnel and their enterprises where transaction have taken place :	· NCM International Private Limited [U67120MH1994PTC082425] · Nikko Stock Brokers Private Limited [U67120MH1997PTC109890] · R.V. and Company · Chittranjan Housing Co. Private Limited [U45201WB1981PTC034236] · Vostok (Forest) Services Private Limited [U67120MH1994PTC082424] · Fuji Securities Private Limited [U67120MH1994PTC082423]

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 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	50.000	50.000	50.000
(b) Reserves & Surplus	33.985	14.166	11.343
(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)	83.985	64.166	61.343
(3) Non-Current Liabilities
(a) Long-term borrowings	95.833	60.768	81.913
(b) Deferred tax liabilities (Net)	0.339	0.110	0.033
(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)	96.172	60.878	81.946
(4) Current Liabilities
(a) Short term borrowings	204.909	145.030	256.491
(b) Trade payables	1.833	29.432	66.434
(c) Other current liabilities	2.854	1.155	2.996
(d) Short-term provisions	0.227	0.000	0.000
Total Current Liabilities (4)	209.823	175.617	325.921
TOTAL	389.980	300.661	469.210
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	196.171	198.254	174.278
(ii) Intangible Assets	0.017	0.028	0.046
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	196.188	198.282	174.324
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	20.995	0.000
(c) Trade receivables	133.294	41.267	180.728
(d) Cash and cash equivalents	33.284	30.774	33.300
(e) Short-term loans and advances	2.043	0.000	58.000
(f) Other current assets	25.171	9.343	22.858
Total Current Assets	193.792	102.379	294.886
TOTAL	389.980	300.661	469.210

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX)		25.802	4.085	5.016
Less	TAX		5.981	1.263	1.550
	PROFIT AFTER TAX		19.821	2.822	3.466
	IMPORTS
		Raw Materials	418.697	193.504	1322.885
	Earnings Per Share (Rs.)		3.96	0.56	0.69

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	720.000

Expected Sales (2015-2016): Rs. 1250.000 Million

The above information has been parted by Mr. Sameer Harlalka (Director)

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 flow 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}	(%)	6.62	1.36	1.07
Return on Investment (ROI) (PBT/Networth)		0.31	0.06	0.08
Debt Equity Ratio (Total Liability/Networth)		3.58	3.21	5.52
Current Ratio (Current Asset/Current Liability)		0.92	0.58	0.90

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	50.000	50.000	50.000
Reserves & Surplus	11.343	14.166	33.985
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	61.343	64.166	83.985
Long-term borrowings	81.913	60.768	95.833
Short term borrowings	256.491	145.030	204.909
Total borrowings	338.404	205.798	300.742
Debt/Equity ratio	5.517	3.207	3.581

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)	Yes
16	No. of employees	Yes
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 one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10216837	17/03/2010	10,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	A84466168
2	10180953	27/04/2015 *	370,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA	C53579314

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Intercorporate borrowings	72.636	32.000
Loans and advances from related parties	4.000	0.500
Total	76.636	32.500

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from 5 - Mezzanine Floor, 28 Rajabahadur Mansion, B.S. Marg, Fort, Mumbai - 400001, Maharashtra, India to the present address w.e.f.24.04.2012

CORPORATE INFORMATION

Company is primary engaged in only one segment of Trading in “Iron & Steel”.

WORKING:

The Company’s working for the year was satisfactory. The Company is confident for a better working in coming year.

FIXED ASSETS:

· Land

· Plant and equipment

· Factory equipments

· Other plant and equipment

· Office equipment

· Computer equipments

· Other equipments

· Computer software

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. 66.42
UK Pound	1	Rs. 99.17
Euro	1	Rs. 72.14

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	HNA
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		27

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.