MIRA INFORM REPORT

Report No. :	308504
Report Date :	16.02.2015

IDENTIFICATION DETAILS

Name :	MAHEEP MARKETING PRIVATE LIMITED
Registered Office :	32, Ezra Street, 9^th Floor, Room No 911, Hare Street, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.10.1994
Com. Reg. No.:	21-065456
Capital Investment / Paid-up Capital :	Rs.0.790 Million
CIN No.: [Company Identification No.]	U51909WB1994PTC065456
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCM9107C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Steel Products.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company possesses a moderate financial profile marked by small networth base, comfortable capital structure owing to zero gearing along with high provision for advance and slow debtor realisations resulting into accrued payables. Management has witnessed a decent revenue whereas has reported a very low profit margin during FY14, as a result of trading nature of its business. However, trade relations seem to be fair. Business is active. Payment terms are reported as slow but correct. In view of long standing experience, the company can be considered for business dealings with 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	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

Name :	Mr. Swapnil More
Designation :	Accountant
Contact No.:	91-22-22709032

LOCATIONS

Registered Office / Warehouse :	32, Ezra Street, 9^th Floor, Room No 911, Hare Street, Kolkata – 700001, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	gajendra_sandim@rediffmail.com vvranka@indiatimes.com
Location :	Owned
Locality :	Commercial
Branch Office :	160, Splender School Building, Opposite No. 23, 2^nd Floor, D. N. Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22709032 / 23 / 22017746

DIRECTORS

AS ON 31.03.2014

Name :

Mr. Hemant Chimanlal Sanghvi

Designation :

Director

Address :

Balkrishna Niwas, Room No. 19, Plot No. 265, Matunga, Mumbai - 400019, Maharashtra, India

Date of Appointment :

10.06.2005

DIN No.:

00161907

Name :

Mr. Gajendra Krishna Sandim

Designation :

Director

Address :

Shrigaon Ganeshwadi, Ratnagiri - 415629, Maharashtra, India

Date of Birth/Age :

04.07.1977

Date of Appointment :

30.09.2010

DIN No.:

03347208

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	U51909WB1994PTC065456	MAHEEP MARKETING PRIVATE LIMITED	Director	30-09-10	30-09-10	-	Active	NO
2	U74999MH2010PTC199324	HARSH STEEL TRADE PRIVATE LIMITED	Additional director	02-05-11	02-05-11	30-03-12	Active	NO

KEY EXECUTIVES

Name :	Mr. Swapnil More
Designation :	Accountant

MAJOR SHAREHOLDERS

AS ON 31.03.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Ekta Nivesh Private Limited, India	34000	43.03
Zenon India Private Limited, India	5000	6.33
Ujjwal Construction Development Private Limited, India	1500	1.90
B. C. Khaitan	3500	4.43
Sumit Kumar Roy	2000	2.53
Bimal Kumar Agarwal	1020	1.29
Shreeya Topwers and Investments	10000	12.66
Aspo Light Commercial Trade Private Limited, India	8000	10.12
B.R. Power Limited, India	9500	12.02
Marigold Glass Industrial Private Limited, India	4500	5.69
Total	79020	100.00

AS ON 31.03.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	91.75
Other top fifty shareholders	8.25
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Steel Products.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Ballaleshwar Pipes and Tubes Private Limited
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 :

End Users

Reference :	Akshata Mercantile Private Limited
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 :

50 (Approximately)

Bankers :

v Oriental Bank of Commerce, Nariman Point, Mumbai, Maharashtra, India

v Bank of Baroda

v ICIC bank Limited

v Allahabad Bank

v Bank of India

v Deutsche Bank

v Federal Bank Limited

v Inndusind Bank

v Oriental Bank of Commerce

v Shamrao Vitthal Bank

v The Kapol Co-operative Bank

v Union Bank of India

Banking Relations :	---
Auditors :
Name :	Doogar and associates Chartered Accountants
Address :	A-304, Dalamal Tower, Nariman Point, Mumbai – 400021, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Related Parties :	v Manojavaya Vintrade Private Limited v Harsh Steel Trade Private Limited v Opera Steels Private Limited v Brahmacharini Vyapaar Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million
69020	Share capital by allotment	Rs.10/- each	Rs.0.690 Millions
	Total		Rs.0.790 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.790	0.790
(b) Reserves & Surplus	61.360	49.971
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	62.150	50.761
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	6844.144	5159.879
(c) Other current liabilities	10324.893	11889.847
(d) Short-term provisions	26.541	20.682
Total Current Liabilities (4)	17195.578	17070.408
TOTAL	17257.728	17121.169
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.043	0.056
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.501	0.501
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.100	0.200
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.644	0.757
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	370.118	119.601
(c) Trade receivables	3570.792	5145.327
(d) Cash and cash equivalents	2.425	3.454
(e) Short-term loans and advances	9355.010	9260.902
(f) Other current assets	3958.739	2591.128
Total Current Assets	17257.084	17120.412
TOTAL	17257.728	17121.169

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Revenue from operations	25858.290	28204.106
		Other Income	849.042	0.324
		TOTAL	26707.332	28204.430
Less	EXPENSES
		Cost of Materials Consumed	26223.977	27867.949
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(250.518)	(119.601)
		Employees benefits expense	0.687	0.512
		Selling and Distributions Expenses	12.611	9.702
		Other expenses	14.020	8.706
		TOTAL	26000.777	27767.268
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		706.555	437.162
Less	FINANCIAL EXPENSES		689.288	419.098
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		17.267	18.064
Less/ Add	DEPRECIATION/ AMORTISATION		0.013	0.018
	PROFIT/ (LOSS) BEFORE TAX		17.254	18.046
Less	TAX		5.865	6.150
	PROFIT/ (LOSS) AFTER TAX		11.389	11.896
	Earnings / (Loss) Per Share (Rs.)		144.00	151.00

Expected Sales (2014-15) : Rs. 30000.000 Millions.

The above information has been parted by Mr. Swapnil More (Accountant).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
PAT / Total Income	(%)	0.04	0.04
Net Profit Margin (PBT/Sales)	(%)	0.07	0.06
Return on Total Assets (PBT/Total Assets}	(%)	0.10	0.11
Return on Investment (ROI) (PBT/Networth)		0.28	0.36
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.00	1.00

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.790	0.790
Reserves & Surplus	49.971	61.360
Net worth	50.761	62.150
long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	28204.106	25858.290
		(8.317)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	28204.106	25858.290
Profit	11.896	11.389
	0.04%	0.04%

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 two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
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)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	No
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	No
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 : NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

v Computer

v Air conditioner

v 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 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.62.14
UK Pound	1	Rs. 95.78
Euro	1	Rs.71.05

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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		32

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.