MIRA INFORM REPORT

Report No. :	309450
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	GREEN FACADE SOLUTIONS PRIVATE LIMITED
Registered Office :	Y-32, Okhla Industiral Area, Phase – II, New Delhi – 110020, Delhi
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.03.2010
Com. Reg. No.:	55-200330
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U28113DL2010PTC200330
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELG12544A
PAN No.: [Permanent Account No.]	AADCG7143G
Legal Form :	Private Limited Liability Company
Line of Business :	Providing business support services.
No. of Employees :	Information declined by the management.

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

Maximum Credit Limit :	USD 30000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track. The rating takes into consideration small net worth, depressed accruals and its modest scale of operations in the façade engineering industry. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some cautions.

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

Rating Agency Name	CRISIL
Rating	Long Term Rating = B-
Rating Explanation	Have high risk of default.
Date	March 21, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4
Rating Explanation	Have Minimal degree of safety and carry very high credit risk.
Date	March 21, 2014

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 DENIED BY

Name :	Mr. Manoj
Designation :	Not Divulged
Contact No.:	91-8447754081
Date :	24.02.2015

LOCATIONS

Registered Office :	Y-32, Okhla Industiral Area, Phase – II, New Delhi – 110020, Delhi, India
Tel. No.:	91-11-49511000 / 49511015
Mobile No.:	91-8447754081 (Mr. Manoj)
Fax No.:	91-11-49511017
E-Mail :	nrgconsultants@rediffmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Rai Singh

Designation :

Director

Address :

Flat No – 304, Plot No – 19, Sector – 3, Ahlcon Appartment, Vaishali, Ghaziabad – 201010, Uttar Pradesh, India

Date of Birth/Age :

09.01.1974

Date of Appointment :

17.03.2010

DIN No.:

00367446

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	U74899DL1985PTC021958	AHL CONS INDIA PRIVATE LIMITED	Director	03/08/2000	03/08/2000	31/03/2010	Active	NO
2	U28113DL2010PTC200330	Green Facade Solutions Private Limited	Director	17/03/2010	17/03/2010	-	Active	NO

Name :

Anju Singh

Designation :

Director

Address :

Flat No – 304, Plot No – 19, Sector – 3, Ahlcon Appartment, Vaishali, Ghaziabad – 201010, Uttar Pradesh, India

Date of Birth/Age :

01.10.1973

Date of Appointment :

17.03.2010

DIN No.:

02933289

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Rai Singh	99000
Anju Singh	1000
Total	100000

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 :	Providing business support services.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

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 :

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 :

Information declined by the management.

Bankers :

Banker Name	Union Bank of India
Branch Address	F-14/15, Connaught Place, New Delhi – 110001, Delhi, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
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	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
HDFC Commercial Vehicle Loan	0.000	0.097
HDFC SX 4 Car Loan	0.000	0.142
HDFC Fortuner Car Loan	0.968	1.310
HDFC EECO Car Loan	0.116	0.000
Loan Against FD-UBI	0.000	1.508
ICICI Car Loan	0.000	0.123
Term Loan From UBI	5.850	6.973
SHORT TERM BORROWINGS
HDFC Commercial Vehicle Loan	0.097	0.266
HDFC SX 4 Car Loan	0.142	0.220
HDFC Fortuner Car Loan	0.342	0.305
ICICI Car Loan	0.123	0.132
HDFC EECO Car Loan	0.095	0.000
Term Loan From UBI	1.123	1.576
Total	8.856	12.652

Auditors :
Name :	Anjali Goel and Associates Chartered Accountants
Address :	8^,First Floor, Surya Niketan, Delhi – 110092, India
PAN No.:	ACQPG0318M
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/-each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Million]

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	1.000	1.000	0.100
(b) Reserves & Surplus	12.855	7.980	5.877
(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)	13.855	8.980	5.977
(3) Non-Current Liabilities
(a) long-term borrowings	8.627	11.124	3.012
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	5.267	2.527	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	13.894	13.651	3.012
(4) Current Liabilities
(a) Short term borrowings	9.262	2.899	0.000
(b) Trade payables	94.212	67.009	45.687
(c) Other current liabilities	111.305	68.538	42.432
(d) Short-term provisions	2.399	1.957	0.000
Total Current Liabilities (4)	217.179	140.404	88.119
TOTAL	244.927	163.034	97.108
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	32.771	22.925	11.172
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	2.500	11.502	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	5.648	5.700	6.413
(c) Deferred tax assets (net)	0.223	0.017	0.033
(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	41.142	40.144	17.618
(2) Current assets
(a) Current investments	10.429	7.127	0.000
(b) Inventories	78.540	56.938	47.559
(c) Trade receivables	61.855	35.605	11.978
(d) Cash and cash equivalents	3.091	0.974	7.367
(e) Short-term loans and advances	33.206	13.533	7.070
(f) Other current assets	16.664	8.713	5.516
Total Current Assets	203.786	122.891	79.490
TOTAL	244.927	163.034	97.108

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	279.206	266.892
	Other Income	4.338	2.528
	TOTAL	283.544	269.420	221.612
Less	EXPENSES
	Cost of Materials Consumed	183.820	183.351
	Construction Expenses	50.651	46.382
	Employees benefits expense	22.366	20.838
	Other expenses	10.332	9.965
	TOTAL	267.169	260.536	213.738
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	16.375	8.884	7.874
Less	FINANCIAL EXPENSES	4.926	1.934	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	11.449	6.950	7.874
Less/ Add	DEPRECIATION/ AMORTISATION	4.376	2.874	1.959
Less	EXTRAORDINARY ITEMS	0.005	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX	7.078	4.076	5.915
Less	TAX	2.203	1.974	1.589
	PROFIT/ (LOSS) AFTER TAX	4.875	2.102	4.326
	Earnings / (Loss) Per Share (Rs.)	48.75	21.02	43.26

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Total Income	(%)	1.71	0.78	1.95
Operating Profit Margin (PBDIT/Total Income)	(%)	5.77	3.29	3.55
Return on Total Assets (PBT/Total Assets}	(%)	2.99	2.80	6.52
Return on Investment (ROI) (PBT/Networth)		0.51	0.45	0.99
Debt Equity Ratio (Total Debts/Networth)		1.29	1.56	0.50
Current Ratio (Current Asset/Current Liability)		0.94	0.88	0.90

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	1.000	1.000
Reserves & Surplus	5.877	7.980	12.855
Net worth	5.977	8.980	13.855
long-term borrowings	3.012	11.124	8.627
Short term borrowings	0.000	2.900	9.263
Total borrowings	3.012	14.024	17.890
Debt/Equity ratio	0.504	1.562	1.291

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	221.612	269.420	283.544
		21.573	5.242

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	221.612	269.420	283.544
Profit	4.326	2.102	4.875
	1.95%	0.78%	1.72%

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	No
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	No
17]	Major suppliers	No
18]	Major customers	No
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	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10357498	25/04/2014 *	72,300,000.00	UNION BANK OF INDIA	F-14/15, Connaught Place, New Delhi, Delhi - 110001, INDIA	C03681467

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
HDFC Business Loan	0.406	0.971
ICICI Business Loan	0.508	0.000
Edelwiss Business Loan	0.779	0.000
SHORT TERM BORROWINGS
ICICI Business Loan	0.312	0.000
Edelwiss Business Loan	0.466	0.000
LGF Machinery Payment	6.037	0.000
HDFC Business Loan	0.525	0.400
Total	9.033	1.371

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.62.04
UK Pound	1	Rs.96.02
Euro	1	Rs.70.43

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	RAS
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	NO
--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.