MIRA INFORM REPORT

Report Date :

02.01.2015

IDENTIFICATION DETAILS

Name :	PRECISION IMPEX PRIVATE LIMITED
Formerly Known As :	SIDHI ESTATE AND CONSULTANTS PRIVATE LIMITED (w.e.f. 02.08.2010)
Registered Office :	46C, Chowringhee Road, Everest House, Flat No – 14G, Kolkata – 700071, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.07.1991
Com. Reg. No.:	21-052306
Capital Investment / Paid-up Capital :	Rs.2.107 Millions
CIN No.: [Company Identification No.]	U51909WB1991PTC052306
TAN No.: [Tax Deduction & Collection Account No.]	CALS06174A
PAN No.: [Permanent Account No.]	AADCS8305G
Legal Form :	Private Limited Liability Company.
Line of Business :	Trader and suppliers of welding consumables.
No. of Employees :	07 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company seems to be low during 2014. However, general financial position of the company seems to be decent. Trade relations are fair. Business is active. Payments terms are reported to be slow but 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	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. Bipin Kumar Tha
Designation :	Accounts Manager
Contact No.:	91-33-30535007
Date :	01.01.2015

LOCATIONS

Registered Office :	46C, Chowringhee Road, Everest House, Flat No – 14G, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-30535007
Fax No.:	91-33-30535006
E-Mail :	sandeep@sdpa.in precision@pwltd.in
Location :	Rented

DIRECTORS

As on : 30.09.2014

Name :

Tanay Moosaddee

Designation :

Director

Address :

BG 144, Salt Lake City, Sector, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

27.11.1966

Date of Appointment :

15.07.1991

DIN No. :

00352633

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	U51909WB1991PTC052306	PRECISION IMPEX PRIVATE LIMITED	Director	15-07-91	15-07-91	-	Active	NO
2	U23209WB1991PTC051771	JAIMATADI MACHINERY PRIVATE LIMITED	Director	17-05-95	17-05-95	18-08-08	Active	NO
3	U51109WB1994PTC065676	WEST OVERSEAS TRADELINK PVT.LTD.	Director	27-07-00	27-07-00	07-03-09	Active	NO
4	U80134WB1996PTC080134	TIMER SOFTWARES PVT LTD	Director	06-12-01	06-12-01	10-05-13	Active	NO
5	U29299WB2006PLC108822	SANDEEP MECH. ENGINEERS LIMITED	Director	31-03-06	31-03-06	-	Active	NO
6	U27209WB2006PLC108826	PRECISION WELDARC LIMITED	Whole-time director	01-07-07	31-03-06	-	Active	NO
7	U28112WB2011PTC170779	JMD FABRICATORS PRIVATE LIMITED	Director	16-12-11	16-12-11	-	Active	NO

Name :

Mr. Umesh Kumar Goenka

Designation :

Director

Address :

3A, Ram Mohan Mullick Garden La 6SA Manikaran, Kolkata – 700010, West Bengal, India

Date of Birth/Age :

22.10.1966

Date of Appointment :

27.12.1994

DIN No. :

00352685

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	U51909WB1991PTC052306	PRECISION IMPEX PRIVATE LIMITED	Director	27-12-94	27-12-94	-	Active	NO
2	U27209WB2006PLC108826	PRECISION WELDARC LIMITED	Whole-time director	01-07-07	31-03-06	-	Active	NO
3	U74140WB1998PTC086278	PANORAMA ADVISORS PRIVATE LIMITED	Director	30-09-11	21-06-11	-	Active	NO
4	U28112WB2011PTC170779	JMD FABRICATORS PRIVATE LIMITED	Director	16-12-11	16-12-11	19-12-11	Active	NO
5	U91990WB2007NPL116333	Mani Karn Owners Association	Director	07-12-14	17-10-14	-	Active	NO

Name :

Mr. Shashi Goenka

Designation :

Director

Address :

3B, Ram Mohan Mullick Garden La, Flat no.: 6SA Manikaran, Kolkata – 700010, West Bengal, India

Date of Birth/Age :

20.10.1968

Date of Appointment :

15.05.2012

DIN No. :

05301728

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares
Vinita Moosaddee	100
Tanay Moosaddee	100
Sandeep Moosaddee	10000
Sourav Keyal	1900
Shreeja Keyal	1900
Rishi Mishra	1800
Sajjan Kumar Deorah	1800
Padma Devi Goenka	12000
Anupam Agarwal	3100
Precision Weldarc Limited, India	85000
Sandeep Mech Engineers Limited, India	81000
Maple Mercantile Limited, India	6000
Contship Commodities Private Limited, India	6000
Total	210700

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2014

Category	Percentage
Bodies corporate	84.48
Directors or relatives of Directors	8.12
Other top fifty shareholders	7.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and suppliers of welding consumables.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Welding Consumables
Countries :	Dubai
Imports :
Products :	Raw Materials
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	--

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	--

No. of Employees :

07 (Approximately)

Bankers :

Bank Name	Bank of Baroda
Branch	India Exchange Place, Kolkata, West Bengal
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 :

--

Banking Relations :	--
Auditors :
Name :	Agarawal Singhania and Company Chartered Accountants
Address :	Vinayak Chambers, 10 A, Hospital Street, 2^nd Floor, Room No. 203 A, Kolkata – 700072, West Bengal, India
Tel. No. :	91-33-22159594 / 32923267 / 22259932
Fax No. :	91-33-22159594
E-Mail :	asgkol@gmail.com asgmumbai@gmail.com
PAN No. :	AAFFA1942E
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
210700	Equity Shares	Rs.10/- each	Rs. 2.107 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	2.107	2.107	2.107
(b) Reserves & Surplus	11.902	11.371	9.383
(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)	14.009	13.478	11.490
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.010	0.012	0.010
(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)	0.010	0.012	0.010
(4) Current Liabilities
(a) Short term borrowings	4.753	33.432	0.000
(b) Trade payables	12.182	3.927	0.452
(c) Other current liabilities	0.191	1.188	0.001
(d) Short-term provisions	0.001	0.637	0.022
Total Current Liabilities (4)	17.127	39.184	0.475
TOTAL	31.146	52.674	11.975
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.179	0.176	0.131
(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	0.128	0.128	0.128
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.110	0.048	0.074
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.417	0.352	0.333
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.528	5.642	3.952
(c) Trade receivables	17.774	41.609	4.604
(d) Cash and cash equivalents	2.484	1.629	0.549
(e) Short-term loans and advances	8.943	3.442	2.537
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	30.729	52.322	11.642
TOTAL	31.146	52.674	11.975

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	96.693	92.580	22.579
	Other Income	NA	NA	0.838
	TOTAL (A)	NA	NA	23.417
Less	EXPENSES
	Cost of Materials Consumed			16.808
	Purchases of Stock-in-Trade			0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade			1.291
	Employees benefits expense			0.827
	Other expenses			4.067
	TOTAL (B)	NA	NA	22.993
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	NA	NA	0.424
Less	FINANCIAL EXPENSES	NA	NA	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.814	2.934	0.424
Less/ Add	DEPRECIATION/ AMORTISATION	0.045	0.057	0.008
	PROFIT/ (LOSS) BEFORE TAX	0.769	2.877	0.416
Less	TAX (I)	0.238	0.889	0.135
	PROFIT/ (LOSS) AFTER TAX	0.531	1.988	0.281
	Earnings / (Loss) Per Share (Rs.)	2.52	9.43	0.133

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	NA	NA	1.20
Net Profit Margin (PBT/Sales)	(%)	0.80	3.11	1.84
Return on Total Assets (PBT/Total Assets}	(%)	2.48	5.48	3.51
Return on Investment (ROI) (PBT/Networth)		0.05	0.21	0.04
Debt Equity Ratio (Total Debt/Networth)		0.34	2.48	0.00
Current Ratio (Current Asset/Current Liability)		1.79	1.34	24.51

Expected Sales ( 2014-2015) : Rs. 100.000 Millions

The above information has been parted by Mr. Bipin Kumar (Accounts Manager)

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	2.107	2.107	2.107
Reserves & Surplus	9.383	11.371	11.902
Net worth	11.490	13.478	14.009
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	33.432	4.753
Total borrowings	0.000	33.432	4.753
Debt/Equity ratio	0.000	2.480	0.339

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)
Sales	22.579	92.580	96.693
		310.027	4.443

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	22.579	92.580	96.693
Profit	0.281	1.988	0.531
	1.24%	2.15%	0.55%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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

PARTICULARS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Short-term borrowings
Loans repayable and advances (other loans and advances)	4.753	33.432
Total	4.753	33.432

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10531195	13/11/2014	10,000,000.00	ICICI BANK LIMITED	ICICI Bank House, 3A Gurusaday Road,, Kolkata, West Bengal - 700019, India	C33564998

FIXED ASSETS

• Fax Machine
• Air Condition
• Furniture and Fixture
• Computer

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.63.32
UK Pound	1	Rs.98.64
Euro	1	Rs.76.60

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	2
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.