MIRA INFORM REPORT

Report No. :	309227
Report Date :	24.02.2015

IDENTIFICATION DETAILS

Name :	ASHOK MANUFACTURING COMPANY PRIVATE LIMITED
Registered Office :	1, Canal Road, Vijaya Nagar, Delhi - 110009
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.07.1966
Com. Reg. No.:	55-004627
Capital Investment / Paid-up Capital :	Rs.2.418 Millions
CIN No.: [Company Identification No.]	U18101DL1966PTC004627
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 :	Manufacturer of Machinery Tools.
No. of Employees :	160 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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

Name :	Mr. Surendra Singh
Designation :	Accountant
Contact No.:	91-11-27211646
Date :	23.02.2015

LOCATIONS

Registered Office/ Factory :	1, Canal Road, Vijaya Nagar, Delhi – 110009, India
Tel. No.:	91-11-27241027 / 27211646 / 27111476 / 27123273 / 27211646 / 28292333
Fax No.:	91-11-23712924 / 27466643 / 28293719
E-Mail :	rc_srivastava@abi-india.net spundir3019@yahoo.com sales@abimachines.co.in abiatahmedabad@yahoo.com anil_bhatia@abi-india.net abibo@bgl.vsnl.net.in chandan_datta@abi-india.net s_bhaskar@abi-india.net mohan_rao@abi-india.net sn_joshi@abi-india.net abimum@vsnl.net dilip_phadnis@abi-india.net abipune@vsnl.net
Website :	http://abimachines.co.in
Location :	Owned
Locality :	Residential
Branch Offices :	Located At Ahmedabad Bangalore Kolkata Chennai Hyderabad Mumbai Pune

DIRECTORS

As on 27.10.2014

Name :

Mr. Achal Nath

Designation :

Director

Address :

A-51, Nizamuddin East, New Delhi – 110013, India

Date of Birth/Age :

14.12.1950

Date of Appointment :

01.12.1982

DIN No.:

00030953

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	U18101DL1966PTC004627	ASHOK MANUFACTURING COMPANY PRIVATE LIMITED	Director	01/12/1982	01/12/1982	-	Active	NO
2	U74140DL1992PTC050582	FIND TECHNOLOGY PRIVATE LIMITED	Director	12/10/1992	12/10/1992	-	Active	NO
3	U74899DL1972PTC005950	ASHOK BROTHERS IMPEX PRIVATE LIMITED	Director	23/01/1994	23/01/1994	-	Active	NO
4	U13203DL2007PTC161269	MICROMATIC MANUFACTURING SYSTEMS PRIVATE LIMITED	Director	29/03/2007	29/03/2007	12/12/2007	Active	NO
5	U29253DL2011PTC221544	AMC MACHINES PRIVATE LIMITED	Director	27/06/2011	27/06/2011	-	Active	NO
6	U29290MH1973GAP016420	INDIAN MACHINE TOOL MANUFACTURERS ASSOCIATION	Director	29/08/2012	29/08/2012	-	Active	NO

Name :

Mr. Aman Nath

Designation :

Director

Address :

A-51, Nizamuddin East, New Delhi – 110013, India

Date of Birth/Age :

14.12.1950

Date of Appointment :

14.05.2011

DIN No.:

00243500

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	U74899DL1981PTC011533	DELHI WAREHOUSING PRIVATE LIMITED	Director	04/04/1981	04/04/1981	-	Active	NO
2	U74899DL1984PTC018012	KOSHA DYNAMICS PRIVATE LIMITED.	Director	15/06/1990	15/06/1990	29/09/2012	Active	NO
3	U74899DL1992PTC050451	FAWN TRADE AND TRAVELS PRIVATE LIMITED	Director	25/09/1992	25/09/1992	-	Active	NO
4	U74899DL1993PTC054380	NEEMRANA HOTELS PRIVATE LIMITED	Director	09/07/1993	09/07/1993	-	Active	NO
5	U92411DL1998PTC097552	AFSAN HEALTH RESORT PRIVATE LIMITED	Director	18/12/1998	18/12/1998	-	Active	NO
6	U55101DL2004PTC126743	FORT COCHIN HOSPITALITY SERVICES PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO
7	U22300DL2007PTC165362	NEEMRANA ENTERTAINMENT PRIVATE LIMITED	Director	29/06/2007	29/06/2007	-	Active	NO
8	U18101DL1966PTC004627	ASHOK MANUFACTURING COMPANY PRIVATE LIMITED	Director	14/05/2011	14/05/2011	-	Active	NO
9	U74899DL1972PTC005950	ASHOK BROTHERS IMPEX PVT LTD	Director	14/05/2011	14/05/2011	-	Active	NO
10	U74899DL1992PTC050452	FRANCIS WACZIARG PRIVATE LIMITED	Additional director	31/01/2014	31/01/2014	-	Active	NO
11	U74140DL1992PTC050582	FIND TECHNOLOGY PRIVATE LIMITED	Additional director	31/01/2014	31/01/2014	-	Active	NO
12	U51311TZ2010PTC015808	FRANCIS WACZIARG FASHION PRIVATE LIMITED	Additional director	31/01/2014	31/01/2014	-	Active	NO
13	U51909DL1998PTC092453	FRANCIS WACZIARS AGENCIES PRIVATE LIMITED	Additional director	31/01/2014	31/01/2014	-	Active	NO
14	U74899DL1988PTC032661	FIND AGENCIES PRIVATE LIMITED	Additional director	31/01/2014	31/01/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Surendra Singh
Designation :	Accountant

MAJOR SHAREHOLDERS

As on 27.10.2014

Names of Shareholders	No. of Shares
Achal Nath	20172
Atul Nath	1344
Aman Nath	988
Anshu Chopra	465
Sajni Khanna	5
Sonavi C Kaicker	5
ABRO Technologies Private Limited	1196
Total	24175

Equity Share Break up (Percentage of Total Equity)

As on 27.10.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Machinery Tools.
Products :	Machinery Tools
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :
Countries :	Japan
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Krishna Foundry and Workshop
Name of the Person :	Mr. Mohanlal (Accountant)
Contact No.:	91-11-28115143
Since How Long Known :	25 Years
Experience :	Product Quality – Excellent Delivery Behaviour – Excellent Overall - Excellent
Maximum Limit Dealt :	Rs.4.000 Millions
Remark :	Mr. Mohanlal informed that they are fully satisfied with their payment behavior.

Customers :

Reference :	Throtec India Private Limited, Coimbatore, Tamilnadu, India
Name of the Person :	Mr. Prasad
Contact No.:	91-8144440222 (Constantly Ringing)
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Constantly Ringing

No. of Employees :

160 (Approximately)

Bankers :

• Corporation Bank, Connaught Circus, New Delhi - 110001, India
• Corporation Bank, M-41, Connaught Circus Branch, New Delhi - 110001, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Term loan from bank	0.182	0.803
Total	0.182	0.803

Auditors :
Name :	D. Sharma and Company Chartered Accountants
Address :	E.R.18, Pacca Bagh, Civil Lines, Jalandhar – 144001, Punjab, India
Tel. No.:	91-11-2403583/4617461/2281830/2484596
E-Mail :	desharmaco@gamil.com
Website :	www.dsharma.com
PAN No.:	AAAFD5551H
Memberships :	--
Collaborators :	--
Other Related Parties :	ABRO Technologies Private Limited Wadhera and Company Private Limited Kosha Dynamaics Private Limited Ashok Brothers Impex Private Limited AMC Machines Private Limited

CAPITAL STRUCTURE

As on 27.10.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24175	Equity Shares	Rs.100/- each	Rs.2.418 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	2.418	2.418	0.918
(b) Reserves & Surplus	48.318	42.656	35.780
(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)	50.736	45.074	36.698
(3) Non-Current Liabilities
(a) long-term borrowings	3.885	0.803	1.588
(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)	3.885	0.803	1.588
(4) Current Liabilities
(a) Short term borrowings	8.237	9.670	15.180
(b) Trade payables	63.357	53.650	50.269
(c) Other current liabilities	43.104	51.135	51.327
(d) Short-term provisions	5.110	3.500	0.000
Total Current Liabilities (4)	119.808	117.955	116.776
TOTAL	174.429	163.832	155.062
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.704	11.163	11.569
(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)	0.591	0.453	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	10.295	11.616	11.569
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	72.071	49.308	52.496
(c) Trade receivables	49.070	30.011	29.093
(d) Cash and cash equivalents	4.573	26.849	14.031
(e) Short-term loans and advances	38.420	46.048	47.873
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	164.134	152.216	143.493
TOTAL	174.429	163.832	155.062

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income			349.125	361.644
		Other Income			0.309	0.117
		TOTAL		273.157	349.434	361.761
Less	EXPENSES			NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX			NA	NA	NA
Less	TAX			NA	NA	NA
	PROFIT/(LOSS) AFTER TAX			5.663	6.555	4.159
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			6.555	4.159	5.699
Less	APPROPRIATIONS
			Transfer to General Reserve	6.555	4.159	5.699
	BALANCE CARRIED TO THE B/S			5.663	6.555	4.159
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	0.759	11.895	5.782
			Other Earnings	1.790	6.736	4.270
	TOTAL EARNINGS			2.549	18.631	10.052
	IMPORTS
			Stores & Spares	50.291	77.417	136.938
			Trading Goods	0.000	0.000	0.568
	TOTAL IMPORTS			50.291	77.417	137.506
	Earnings / (Loss) Per Share (Rs.)			234.23	271.13	453.31

Expected Sales (2014-2015): Rs.270.000 Millions (Due to Market Fluctuation)

The above information has been parted by Mr. Surendra Singh

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	NA	1.88	1.15
Debt Equity Ratio (Total Debt /Networth)		0.24	0.23	0.46
Current Ratio (Current Asset/Current Liability)		1.37	1.29	1.23

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	0.918	2.418	2.418
Reserves & Surplus	35.780	42.656	48.318
Share Application money pending allotment	0.000	0.000	0.000
Net worth	36.698	45.074	50.736
Long Term borrowings	1.588	0.803	3.885
Short Term borrowings	15.180	9.670	8.237
Total borrowings	16.768	10.473	12.122
Debt/Equity ratio	0.457	0.232	0.239

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	361.761	349.434	273.157
		(3.407)	(21.829)

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	361.761	349.434	273.157
Profit	4.159	6.555	5.663
	1.15%	1.88%	2.07%

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%	Yes
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)	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 LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Term loan from other parties	3.703	0.000
SHORT TERM BORROWINGS
Loans and advances from related parties	8.237	9.670
Total	11.940	9.670

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10012009	27/05/2009 *	7,500,000.00	Corporation Bank	M-41,Connaught Circus Branch, New Delhi, Delhi - 110001, India	A64046410
2	90063010	19/12/2003	2,500,000.00	Corporation Bank	M-41; Connaught Circus, New Delhi, Delhi, India	-
3	90059286	28/10/1958	200,000.00	The Mercantile Bank Ltd.	Connaught Place, New Delhi, Delhi, India	-

*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.62.18
UK Pound	1	Rs.95.71
Euro	1	Rs.70.76

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		46

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.