MIRA INFORM REPORT

Report No. :	309063
Report Date :	23.02.2014

IDENTIFICATION DETAILS

Name :	ARCHINTEX ARCHITECTURALS PRIVATE LIMITED (w.e.f 04.12.2013)
Formerly Known As :	NORTHWEST ARCHITECTURALS PRIVATE LIMITED
Registered Office :	Shop No. 502, Damaji Shamji Business Gallaria, Above D’mart, LBS Kanjurmarg (West), Mumbai – 400078, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.11.2004
Com. Reg. No.:	11-149401
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U27203MH2004PTC149401
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 :	Trader and Importer of hardware products use for architectural purpose.
No. of Employees :	18 (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 :	Even though the company was incorporated on 04^th November 2004, it has recently commence its business operations. It is having moderate track record. As claimed by Mr. Uday Shetty, Director that the subject company has started its business operations from January 2014 by taking over all the activities of “ARCHINTEX” a partnership concern started in the year July 2012. Further he also claimed that all the activities of partnership concern is now undertaken in the subject company and partnership concern is v=no more in existence. As per latest financial record of 2014, the company has taken huge external borrowing, which acts as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms are slow. The company can be considered for business dealing 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.

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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. Uday Shetty
Designation :	Director
Contact No.:	91-22-25781088
Date :	20.02.2014

LOCATIONS

Registered Office :	Shop No. 502, Damaji Shamji BusinessGallaria, Above D’mart, LBS Kanjurmarg (West), Mumbai – 400078, Maharashtra, India
Tel. No.:	91-22-25781088/25770032
Fax No.:	Not Available
E-Mail :	all_arch@rediffmail.com shettyuv@archintex.com finance@archintex.com accoutns@archintex.com
Website :	www.archintex.com
Area :	Owned
Location :	1360 Sq. ft.
Branch Address :	Shop No. 5, Meher Classic, Survey No. 584/C, Market Yard, Bibewadi, Pune – 411037, Maharashtra, India
Tel No.:	91-20-24260920
E-Mail :	info@archintex.com

DIRECTORS

As on 09.08.2014

Name :	Mr. Rakesh Sushilkumar Ghai
Designation :	Director
Address :	C-43, Room No.160, Shiv Colony, Ulhasnagar, Thane – 421003, Maharashtra, India
Date of Birth/Age :	28.02.1969
Date of Appointment :	04.11.2004
DIN No.:	00051792
Name :	Mr. Umesh Sushilkumar Ghai
Designation :	Director
Address :	C-43, Room No.160, Shiv Colony, Ulhasnagar, Thane – 421003, Maharashtra, India
Date of Birth/Age :	24.01.1983
Date of Appointment :	03.01.2014
DIN No.:	02959512
Name :	Mr. Dharmendra Sushilkumar Ghai
Designation :	Director
Address :	C-43, Room No.160, Shiv Colony, Ulhasnagar, Thane – 421003, Maharashtra, India
Date of Birth/Age :	18.02.1974
Date of Appointment :	03.01.2014
DIN No.:	06789526
Name :	Mr. Uday Vishwanath Shetty
Designation :	Director
Address :	Flat No. 1602 , Balaji Heights, Sector 11 , Plot No. 4, Sanpada (West), Navi Mumbai – 400705, Thane, Maharashtra, India
Date of Birth/Age :	15.09.1972
Date of Appointment :	03.01.2014
DIN No.:	06789557

MAJOR SHAREHOLDERS

As on As on 09.08.2014

Names of Shareholders	No. of Shares
Rakesh Sushilkumar Ghai	2500
Dharmendra Sushilkumar Ghai	3500
Uday Vishwanath Sheety	1500
Umesh Sushilkumar Ghai	2500
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of hardware products use for architectural purpose.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Hardware Products
Countries :	UAE Germany France
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash, Advance Payment and Credit

PRODUCTION STATUS = NOT AVAILABLE

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 and Retailers

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 :

18 (Approximately)

Bankers :

• Vijaya Bank, Vashi Branch, No. F/3/3, Sector 10, Vashi, Navi Mumbai - - 400703,, Maharashtra India

Banker Name	Axis Bank Limited
Branch Address	Juinagar Branch
Person Name (With Designation)	Mr. Sikandar (Brnch Manager)
Contact Number	91-22-27750995
Name Of Account Holder	Archintex Architecturals Private Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Satisfactory
Remarks (If any)	He asked to send a mail. Also he told us that the company have a satisfactory transactions, they don’t have any issues about their transaction

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Vijaya Bank OD Account 504406211000028 (Secured against book debts and stock and personal guarantee of directors)	7.402	0.000
Total	7.402	0.000

Auditors :
Name :	S K Sardhara and Comapny Chartered Accountants
Address :	610, Paremeshwari centre, Dalmia Estate, Above Galaxy Motors, Off. LBS Marg, Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-25641553/25694989
Fax No.:	91-22-25922236
E-Mail :	sanjay@rj1.,co.in
PAN No.:	AJSPS2765F
Memberships :	Not Available
Collaborators :	Not Available
Parties where control exists :	Maruti Traders Ssun Infra Spectra Aluminium All Arch India Private Limited Allarch Healthcare Technologies

CAPITAL STRUCTURE

As on 09.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs. 0.200 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

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	0.100	0.100	0.100
(b) Reserves & Surplus	0.611	(0.369)	(0.343)
(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)	0.711	(0.269)	(0.243)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	30.150	0.351	0.351
(b) Trade payables	9.391	0.000	0.000
(c) Other current liabilities	5.828	0.435	0.407
(d) Short-term provisions	0.403	0.000	0.000
Total Current Liabilities (4)	45.772	0.786	0.758
TOTAL	46.483	0.517	0.515
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.687	0.039	0.048
(ii) Intangible Assets	0.030	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)	0.037	0.195	0.183
(d) Long-term Loan and Advances	0.025	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.779	0.234	0.231
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.416	0.000	0.000
(c) Trade receivables	24.584	0.000	0.000
(d) Cash and cash equivalents	1.157	0.121	0.122
(e) Short-term loans and advances	6.547	0.162	0.162
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	45.704	0.283	0.284
TOTAL	46.483	0.517	0.515

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	23.812	0.000	0.000
	Other Income	0.215	0.000	0.000
	TOTAL (A)	24.027	0.000	0.000
Less	EXPENSES
	Purchases of Stock-in-Trade	14.955	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1.923	0.000	0.000
	Employees benefits expense	1.419	0.000	0.000
	Other expenses	3.422	0.009	0.028
	TOTAL (B)	21.719	0.027	0.028
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	2.308	(0.027)	(0.028)
Less	FINANCIAL EXPENSES (D)	0.704	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1.604	(0.027)	-(0.028)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.046	0.009	0.012
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1.558	(0.036)	(0.040)
Less	TAX (I)	0.577	(0.011)	(0.012)
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	0.981	(0.025)	(0.028)
	Earnings / (Loss) Per Share (Rs.)	98.09	(2.53)	(2.80)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.12	0.00	0.00
Operating Profit Margin (PBDIT / Sales)	(%)	9.69	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	3.35	(11.18)	(12.05)
Return on Investment (ROI) (PBT/Networth)		2.19	0.13	0.16
Debt Equity Ratio (Total Debt /Networth)		42.41	(1.30)	(1.44)
Current Ratio (Current Asset/Current Liability)		1.00	0.36	0.37

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	0.100	0.100	0.100
Reserves & Surplus	(0.343)	(0.369)	0.611
Net worth	(0.243)	(0.269)	0.711
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.351	0.351	30.150
Total borrowings	0.351	0.351	30.150
Debt/Equity ratio	(1.444)	(1.305)	42.405

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loan repayable on demand
Loan from relate parties	22.748	0.351
Total	22.748	0.351

PERFORMANCE OF THE COMPANY

The company has took over business along with all asset and liabilities of Partnership Firm Archintex. The name was changed to Archintx Architecurals Private Limited. The Gross Receipts from the Operations for the year stood to Rs. 23.812 Millions /‐ (P.Y. Rs. NIL). The company has Earned a Profit of Rs. 0.980.000 Millions /‐ (P.Y. Loss Rs 0.025 Millions/‐) after a provision of for Taxation of Rs. 0.577 Millions /‐ (P.Y. Rs. 0.011 Millions /‐). The Directors are hopeful of achieving better results in the ensuing year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10545266	08/01/2015	32,500,000.00	Axis Bank Limited	Ground Floor 107, 111 Hazari Baug, LBS Marg Vikhr  oli-West, Mumbai, Maharashtra - 400071, INDIA	C41521394
2	10496335	06/05/2014	18,000,000.00	Vijaya Bank	VASH BRANCH, NO. F/3/3, SECTOR 10, VASHI, NAVI MU  MBAI, Maharashtra - 400703, INDIA	C04825311

* Date of charge modification

FIXED ASSETS

• Computer
• Furniture
• Air Conditioner
• Mobile Phone

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.62.25
UK Pound	1	Rs.96.01
Euro	1	Rs.70.72

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	ART

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
--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		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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.