MIRA INFORM REPORT

Report No. :	303219
Report Date :	09.02.2015

IDENTIFICATION DETAILS

Name :	BIRKAN ENGINEERING INDUSTRIES PRIVATE LIMITED
Registered Office :	E-2B, Madhu Vihar, Patparganj, New Delhi – 110092
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.11.1988
Com. Reg. No.:	55-033864
Capital Investment / Paid-up Capital :	Rs.11.493 Millions
CIN No.: [Company Identification No.]	U74899DL1988PTC033864
TIN No.:	Not Available
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 :	Manufacturing and Trading of various types of Glasses.
No. of Employees :	200 (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

Maximum Credit Limit :	USD 96000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profit margin of the company is low. However, net worth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Robin Mukesh
Designation :	Chief Executive Officer
Contact No.:	91-9999258328
Date :	22.01.2015

LOCATIONS

Registered Office / Marketing Office :	E-2B, Madhu Vihar, Patparganj, New Delhi – 110092, India
Tel. No.:	Not Available
Mobile No.:	91-9999258328 (Mr. Robin Mukesh)
Fax No.:	Not Available
E-Mail :	birkanengg@hotmail.com robinmukesh@birkanengg.com
Website :	www.birkanengg.com
Location :	Owned
Factory :	S-6 and S-4, Site – IV, Sahibabad Industrial Area, Ghaziabad – 201010, Uttar Pradesh, India
Tel. No.:	91-120-4225901 / 10
Fax No.:	91-120-4225907

DIRECTORS

As on 30.09.2014

Name :

Mr. Mukesh Kumar Gupta

Designation :

Additional Director

Address :

77 Hig Duplex, Chander Nagar, Ghaziabad – 201012, Uttar Pradesh, India

Date of Birth/Age :

15.05.1958

Date of Appointment :

26.06.2000

DIN No.:

01720932

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1994PTC058628	RELIABLE POLY COMPOUNDS PRIVATE LIMITED	Director	27/04/1994	27/04/1994	02/05/2011	Active	NO
2	U74899DL1988PTC033864	BIRKAN ENGINEERING INDUSTRIES PRIVATE LIMITED	Additional director	26/06/2000	26/06/2000	-	Active	NO

Name :

Ms. Geeta Gupta

Designation :

Director

Address :

77 Hig Duplex, Chander Nagar, Ghaziabad – 201012, Uttar Pradesh, India

Date of Birth/Age :

31.07.1961

Date of Appointment :

26.06.2000

DIN No.:

01579261

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1994PTC058628	RELIABLE POLY COMPOUNDS PRIVATE LIMITED	Director	27/04/1994	27/04/1994	-	Active	NO
2	U74899DL1988PTC033864	BIRKAN ENGINEERING INDUSTRIES PRIVATE LIMITED	Director	26/06/2000	26/06/2000	-	Active	NO
3	U18201DL2003PTC118505	AADYAA EMBROIDERY PRIVATE LIMITED	Director	25/05/2003	25/05/2003	-	Active	Yes

KEY EXECUTIVES

Name :	Mr. Robin Mukesh
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Mukesh Gupta	33350
Geeta Gupta	8100
Kapil Mehta	600
Anil Gupta	6754
Shailendra Gupta	4800
Ajay Goyal	600
Chanderkanta	150
R. K. Gupta	4970
R. P. C. L	5581
Upanshu Singhal	371
Annu Goyal	150
Ashwani Kumar	360
Neeraj Singhal	499
Pushpa Govil	760
Seema Singhal	950
Geeta Melhotra	800
Sushil Kumar Singh	1750
A. K. Singhal	1320
Atul Gupta	2000
Kumar Pal Singh	1220
Kishan Pal Singh	1200
Robin Mukesh	12624
S. P. Singh	5500
S. K. Gupta	5218
Kapil Singhal	3105
S. K. Tyagi	3000
Varun Chaudhary	1700
Anubhav Footwear Private Limited	3000
Ratan Polymers Private Limited	3000
Arjun Maheshwari	1500
Total	114932

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Trading of various types of Glasses.
Products :	Glasses
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :
Products :	Raw Materials
Countries :	· China · USA · European Countries
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

· A R Computer

· A R System

· Ajay Industries

· Deft Engineering

· Braj Glass Company

· Global Infotech

· Gold Plus Glass Industries Limited

· K B Enterprises

· Kapoor Sales

· Laxmi Traders

· Max Telcom

Customers :

· Indian Railways

· Road Transports

· Development Engineering and Construction

· S.S Builders, New Delhi

· Whora Enterprises, Noida

· Eldeco Project Private Limited

· CPWD

· Sky line Builders & Constructions

· Schindler India Private Limited

· Don Bosco Technical Institute

· Hotel Vasant Continental

· Modipon Limited

· Narmada Aluminium Industries Limited, Noida

· N.G Construction

· Paramount Builders (Noida)

· Victora Tool Engineers Private Limited (Unit-V)

No. of Employees :

200 (Approximately)

Bankers :

· Canara Bank, Vivek Vihar, Delhi – 110095, India

· Citi Bank

· HDFC Bank

· IDBI Bank

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Canara Bank OCC A/c	27.604	20.971
Canara Bank Term Loan IInd	0.645	1.003
Canara Bank Term Loan IInd	5.923	6.301
Canara Bank Term Loan	3.967	0.000
City Bank Against Property	0.399	0.478
HDFC Car Loan Jeta	0.502	0.779
HDFC Car Loan Wagon R	0.154	0.221
Total	39.194	29.753

Auditors :
Name :	P. K. Singhal and Associates Chartered Accountants
Address :	3^rd Jagriti Enclave, Delhi – 110092, India
PAN No.:	AATPS3429C
Memberships :	--
Collaborators :	--
Sister Concern :	Reliable Polycompounds Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/- each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
114932	Equity Shares	Rs.10/- each	Rs.11.493 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	11.493	9.761	9.761
(b) Reserves & Surplus	18.602	14.868	13.833
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	3.450	4.431	0.800
Total Shareholders’ Funds (1) + (2)	33.545	29.060	24.394
(3) Non-Current Liabilities
(a) long-term borrowings	39.194	29.753	26.268
(b) Deferred tax liabilities (Net)	2.115	1.605	1.261
(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)	41.309	31.358	27.529
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	17.992	18.320	15.064
(c) Other current liabilities	1.123	1.631	0.540
(d) Short-term provisions	0.313	0.000	0.170
Total Current Liabilities (4)	19.428	19.951	15.774
TOTAL	94.282	80.369	67.697
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	37.656	28.417	27.773
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.910	4.013	3.387
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	41.566	32.430	31.160
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	19.577	18.346	17.164
(c) Trade receivables	25.309	25.441	15.269
(d) Cash and cash equivalents	0.364	0.167	0.384
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	7.466	3.985	3.720
Total Current Assets	52.716	47.939	36.537
TOTAL	94.282	80.369	67.697

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	131.369	105.015	76.388
		Other Income	0.103	4.689	6.766
		TOTAL	131.492	109.704	83.154
Less	EXPENSES		127.614	105.846	79.865
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		3.878	3.858	3.289
Less	DEPRECIATION/ AMORTISATION		2.232	2.48	1.901
	PROFIT/(LOSS) BEFORE TAX		1.646	1.378	1.388
Less	TAX		0.511	0.344	0.395
	PROFIT/(LOSS) AFTER TAX		1.135	1.034	0.993
	Earnings / (Loss) Per Share (Rs.)		9.88	10.59	10.17

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)		0.86	0.98	1.30
Return on Total Assets (PBT/Total Assets}	(%)	1.75	1.71	2.05
Return on Investment (ROI) (PBT/Networth)		0.05	0.05	0.06
Debt Equity Ratio (Total Debt /Networth)		1.17	1.02	1.08
Current Ratio (Current Asset/Current Liability)		2.71	2.40	2.32

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	9.761	9.761	11.493
Reserves & Surplus	13.833	14.868	18.602
Share Application money pending allotment	0.800	4.431	3.450
Net worth	24.394	29.060	33.545
Long Term borrowings	26.268	29.753	39.194
Short Term borrowings	0.000	0.000	0.000
Total borrowings	26.268	29.753	39.194
Debt/Equity ratio	1.077	1.024	1.168

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	76.388	105.015	131.369
		37.476	25.095

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	76.388	105.015	131.369
Profit	0.993	1.034	1.135
	1.30%	0.98%	0.86%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

CORPORATE INFORMATION

Subject is a private company domiciled in India and incorporated under the provisions of the companies Act, 1956. The company is engaged in the business of manufacturing & trading of various types of glasses.

FINANCIALPOSITION

The company has Net Profit of Rs.1.136 Millions during the year as compared to last year Net Profit of Rs.1.034 Millions.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10438566	28/06/2013	9,500,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	B80318975
2	10356177	28/06/2013 *	5,000,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	B80311939
3	10288161	10/05/2011	1,800,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	B13447933
4	10170420	24/07/2009	14,000,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	A67627679
5	10092618	28/06/2013 *	4,000,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	B80311400
6	10092619	24/07/2009 *	500,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	A67617530
7	90043683	14/02/2003	250,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	-
8	90043371	14/02/2003 *	1,000,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	-
9	90043357	28/06/2013 *	30,000,000.00	Canara Bank	Vivek Vihar, Delhi, Delhi - 110095, India	B80310147

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.87
UK Pound	1	Rs.94.07
Euro	1	Rs.70.19

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	VNT

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	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--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	YES
--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.