MIRA INFORM REPORT

Report No. :	307659
Report Date :	14.02.2015

IDENTIFICATION DETAILS

Name :	RUKMINI POLYTUBES PRIVATE LIMITED

Registered Office :	X-55/102, Loha Mandi, Naraina, New Delhi – 110028, Delhi

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.09.1999

Com. Reg. No.:	55-123381

Capital Investment / Paid-up Capital :	Rs.5.700 Millions

CIN No.: [Company Identification No.]	U25209DL1999PTC123381

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	DELR09903F

PAN No.: [Permanent Account No.]	AACCR8167Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Trader and Importer of UPVC Pipe.

No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 90000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established private limited liability company having moderate track record. The company has reported low profitability for the current year. However, trade relations seems to be fair. Business is active. Payments are reported to be slow but correct. 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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

Name :	Mr. Kejriwal
Designation :	Director
Contact No.:	91-11-27030267

LOCATIONS

Registered Office :	X-55/102, Loha Mandi, Naraina, New Delhi – 110028, Delhi, India
Tel. No.:	91-11-27030267
Fax No.:	91-11-45546230
E-Mail :	arunnaresh.ca@gmail.com ssp@rukmini.biz polytubes@rukmini.biz
Website :	http://www.rukmini.biz www.rukminipolytubes.com

Factory 1 :	(Steel Melting and Rolling Division) C-6 and 7, UPSIDC Industrial Area, Bahadurabad, Hardwar - 149401, Uttrakahnd, India
Tel. No.:	91-1334-325837
Fax No.:	91-1334-235126
E-Mail :	iron@rukmini.biz

Factory 2 :	(PVC Division) 43 K.M. Stone, N.H.-10, P.O. Asauda - 124505, Bahadurgarh, Haryana, India
Tel. No.:	91-1276-280729/ 280730/ 323404
E-Mail :	polytubes@rukmini.biz

DIRECTORS

As on 30.09.2014

Name :

Mr. Gopi Krishna Kejriwal

Designation :

Director

Address :

B-2/63, Rajasthali Apartments, Pitampura, Delhi – 110034, India

Date of Birth/Age :

05.06.1968

Date of Appointment :

16.09.1999

DIN No.:

00101425

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	U25209DL1999PTC123381	RUKMINI POLYTUBES PRIVATE LIMITED	Director	16/09/1999	16/09/1999	-	Active	NO
2	U22109DL2004PTC125131	RUKMINI IRON PRIVATE LIMITED	Director	11/03/2004	11/03/2004	-	Active	NO

Name :

Mr. Ajay Kejriwal

Designation :

Director

Address :

C-1/53, Rajasthali Apartments, Pitampura, Delhi – 110034, India

Date of Birth/Age :

30.05.1971

Date of Appointment :

16.09.1999

DIN No.:

00101466

Name :

Mr. Sanjay Kejriwal

Designation :

Director

Address :

C-1/53, Rajasthali Apartments, Pitampura, Delhi – 110034, India

Date of Birth/Age :

31.10.1969

Date of Appointment :

15.07.2012

DIN No.:

00101623

Other Directorship :

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

U22109DL2004PTC125131

RUKMINI IRON PRIVATE LIMITED

Director

11/03/2004

Active

U25209DL1999PTC123381

RUKMINI POLYTUBES PRIVATE LIMITED

Director

15/07/2012

02/04/2012

Active

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Gopi Krishna Kejriwal	6000	1.05
Sanjay Kejriwal	56600	9.93
Ajay Kejriwal	50100	8.79
Rajeev Kejriwal	56600	9.93
Priti Kejriwal	55000	9.65
Madhu Kejriwal	55000	9.65
Ritu Kejriwal	56600	9.93
Pooja Kejriwal	56000	9.82
Renu Devi Agarwal	500	0.09
Akash Kejriwal	34000	5.96
Ujjwal Kejriwal	37500	6.58
Gopi Krishna Kejriwal	50000	8.77
Aman Kejriwal	56100	9.84
Total	570000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Importer of UPVC Pipe.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :
Countries :	China Taiwan Korea Mexico Vietnam Japan

Terms :
Selling :	Not Available

Purchasing :	Not Available

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

DCM Sriram Limited

Name of the Person :

Mr. Rahul (Assistant Manager)

Contact No.:

91-9953484082

Since How Long Known :

2.5 Years

Experience :

Payment Behaviour	Market goodwill	Overall
Excellent	Excellent	Excellent

Maximum Limit Dealt :

Rs.1.800 Millions

Remark :

They gave us positive response about the subject company. They are satisfied with payment behavior.

Customers :

Reference :

JMD Trader

Name of the Person :

Pankaj Guta

Contact No.:

91-9215618775

Since How Long Known :

10 Years

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Maximum Limit Dealt :

Rs.30.000 Millions

Remark :

They gave us positive response about the subject company. They are satisfied with product quality and delivery behaviour.

No. of Employees :

80 (Approximately)

Bankers :

Banker Name	State Bank of Patiala
Branch Address	Rama Market, Pitampura, Delhi – 110034, India
Person Name (With Designation)	Not Available
Contact Number	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)	Cash Credit = Rs. 50.000 Millions L/C = Rs.35.000 Millions
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Long term loan for vehicles	1.117	2.158
SHORT TERM BORROWINGS
Buyers Credit	7.290	17.345
Loans repayable on demand from banks (CC Limit)	34.131	33.547
Total	42.538	53.050

Auditors :
Name :	Arun Naresh and Company Charetered Accountants
Address :	KP-1, Maurya Enclave, Pitampura, New Delhi – 110088, Delhi, India
Tel. No.:	91-11-45139005
Mobile No.:	91-9810235005
Fax No.:	91-11-45138005
E-Mail :	arunnaresh.ca@gmail.com
PAN No.:	AAFFA5631C

Memberships :	Not Available

Collaborators :	Not Available

Enterprises owned or significantly influenced by key management personal or their relatives with whom transactions have been taken place during the year :	Rukmini Iron Private Limited Sanjay Steel Processors

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

750000	Equity Shares	Rs.10/-each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

570000	Equity Shares	Rs.10/-each	Rs.5.700 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	5.700	5.700	5.700
(b) Reserves & Surplus	29.171	27.820	27.062
(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)	34.871	33.520	32.762

(3) Non-Current Liabilities
(a) long-term borrowings	1.117	2.158	0.000
(b) Deferred tax liabilities (Net)	2.223	1.988	1.230
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.132	0.399	0.251
Total Non-current Liabilities (3)	3.472	4.545	1.481

(4) Current Liabilities
(a) Short term borrowings	48.862	57.960	46.582
(b) Trade payables	1.747	15.190	21.544
(c) Other current liabilities	2.898	18.335	10.176
(d) Short-term provisions	0.068	0.281	0.122
Total Current Liabilities (4)	53.575	91.766	78.424

TOTAL	91.918	129.831	112.667

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.563	19.296	13.739
(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	7.039	5.453	4.003
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	24.602	24.749	17.742

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	24.196	26.336	38.338
(c) Trade receivables	33.579	62.965	41.102
(d) Cash and cash equivalents	5.334	6.773	7.816
(e) Short-term loans and advances	4.207	9.008	7.669
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	67.316	105.082	94.925

TOTAL	91.918	129.831	112.667

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income
	Other Income
	TOTAL	266.274	305.056	233.300

Less	EXPENSES	264.300	303.153	231.826

Add	EXCEPTIONAL ITEMS	0.000	0.032	0.000

	PROFIT/ (LOSS) BEFORE TAX	1.974	1.935	1.474

Less	TAX	0.624	1.177	0.118

	PROFIT/ (LOSS) AFTER TAX	1.350	0.758	1.356

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	7.595	6.837	5.481

	Balance Carried to the B/S	8.945	7.595	6.837

	Earnings / (Loss) Per Share (Rs.)	2.37	1.33	2.38

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Net Profit Margin PAT / Total Income	(%)	0.51	0.25	0.58

Return on Total Assets (PBT/Total Assets}	(%)	2.15	1.49	1.31

Return on Investment (ROI) (PBT/Networth)		0.06	0.06	0.04

Debt Equity Ratio (Total Debts/Networth)		1.43	1.79	1.42

Current Ratio (Current Asset/Current Liability)		1.26	1.15	1.21

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	5.700	5.700	5.700
Reserves & Surplus	27.062	27.820	29.171
Net worth	32.762	33.520	34.871

long-term borrowings	0.000	2.158	1.117
Short term borrowings	46.582	57.960	48.862
Total borrowings	46.582	60.118	49.979
Debt/Equity ratio	1.422	1.793	1.433

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	233.300	305.056	266.274
		30.757	(12.713)

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	233.300	305.056	266.274
Profit	1.356	0.758	1.350
	0.58%	0.25%	0.51%

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	No
20]	Export / Import details (if applicable)	No
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10462824	28/04/2014 *	92,500,000.00	STATE BANK OF PATIALA	RAMA MARKET, PITAMPURA, DELHI, Delhi - 110034, INDIA	C06033708

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
Loans repayable on demand from relatives	0.920	7.068
Loans repayable on demand other than from relatives	6.521	0.000
Total	7.441	7.068

FIXED ASSETS

Land – Free Hold
Building
Plant and Machinery
Electrical Installation
Generator
Motor Vehicle
Mobile Phone
Laptop
Motor Cycle
Truck

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.62.13
UK Pound	1	Rs.95.77
Euro	1	Rs.71.05

INFORMATION DETAILS

Analysis Done by :	SUC

Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	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		30

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.

MIRA INFORM REPORT

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