MIRA INFORM REPORT

Report No. :	303855
Report Date :	17.01.2015

IDENTIFICATION DETAILS

Name :	K. AMISHKUMAR TRADING PRIVATE LIMITED
Registered Office :	316, Loha Bhavan, P’D Mello Road, Mumbai – 400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.02.2006
Com. Reg. No.:	11-159467
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U51900MH2006PTC159467
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCK7475J
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Iron and Steel.
No. of Employees :	43 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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 good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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	CRISIL
Rating	Long term rating = BBB
Rating Explanation	Moderate degree of safety it carry moderate credit risk.
Date	November 13, 2013

Rating Agency Name	CRISIL
Rating	Short term rating = A3+
Rating Explanation	Moderate degree of safety it carry higher credit risk.
Date	November 13, 2013

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.

LOCATIONS

Registered Office :	316, Loha Bhavan, P’D Mello Road, Mumbai – 400009, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9820050272 [Mr. Ketan Pravinchandra Kamdar]
Fax No.:	Not Available
E-Mail :	sandeep@sppc.co.in
Sales Office :	402, Platinum, 4th Floor, Near BMC Office, Opposite Railway Station, Ghatkopar [East], Mumbai
Tel. No.:	91-22-25012000
Warehouse 1 :	Plot No. 845, Kalamboli Warehousing Complex, Village Kalamboli, Taluka Panvel, District Raigad, Maharashtra, India
Warehouse 2 :	Plot No. 70, Kalamboli Warehousing Complex, Village Kalamboli, Taluka Panvel, District Raigad, Maharashtra, India
Warehouse 3 :	Plot No. 174, 175 and 176, Road No. 1, Bima Warehousing Complex, Village Kalamboli, Taluka Panvel, District Raigad, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Pravinchandra Nagardas Kamdar

Designation :

Director

Address :

501/502, Gayatri Dham Derasar Lane, M.G. Road, Ghatkopar [East], Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

14.03.1942

Date of Appointment :

03.02.2006

PAN No.:

AADPK0725D

DIN No.:

00233012

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	Company/ LLP Status	Defaulting status
1	U51900MH2006PTC159467	K. AMISHKUMAR TRADING PRIVATE LIMITED	Director	03/02/2006	03/02/2006	Active	NO
2	U45203MH2006PTC161497	PRAHANS INFRA - PROJECTS PRIVATE LIMITED	Director	01/05/2006	01/05/2006	Active	NO

Name :

Mr. Ketan Pravinchandra Kamdar

Designation :

Director

Address :

501/502, Gayatri Dham Derasar Lane, M.G. Road, Ghatkopar [East], Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

18.08.1971

Date of Appointment :

03.02.2006

PAN No.:

AABPK6092R

DIN No.:

00233109

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	Company/ LLP Status	Defaulting status
1	U51900MH2006PTC159467	K. AMISHKUMAR TRADING PRIVATE LIMITED	Director	03/02/2006	03/02/2006	Active	NO
2	U45203MH2006PTC161497	PRAHANS INFRA - PROJECTS PRIVATE LIMITED	Director	01/05/2006	01/05/2006	Active	NO

Name :

Mrs. Hasumati Pravinchandra Kamdar

Designation :

Director

Address :

501/502, Gayatri Dham Derasar Lane, M.G. Road, Ghatkopar [East], Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

14.11.1948

Date of Appointment :

01.04.2007

PAN No.:

AAGPK2748F

DIN No.:

01538286

Name :

Mrs. Tejal Ketan Kamdar

Designation :

Director

Address :

501/502, Gayatri Dham Derasar Lane, M.G. Road, Ghatkopar [East], Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

01.12.1975

Date of Appointment :

01.04.2007

PAN No.:

AJMPK3031C

DIN No.:

01538330

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Pravinchandra Nagardas Kamdar	2499950
Ketan Pravinchandra Kamdar	2249950
Hasumati Pravinchandra Kamdar	250050
Tejal Ketan Kamdar	50
Total	5000000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Iron and Steel.
Brand Names :	--
Agencies Held :	--
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

Customers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

No. of Employees :

43 (Approximately)

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (with Designation):	Not Available
Contact Number:	Not Available
Name of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year of A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks: Not Available

· Bank of Baroda

Corporate Financial Services Branch,10/12, 4th, Floor, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India

· The Saraswat Co-operative Bank Limited

Fort Branch, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Term loans from banks [Secured by hypothecation charges on the entire stock and book debts and current assets]	203.462	33.475
Total	203.462	33.475

Banking Relations :	--
Auditors :
Name :	J. D. Zatakia and Company Chartered Accountants
Address :	306, Rupa Plaza, Jawahar Road, Ghatkopar [East], Mumbai – 400077, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAPZ0084D
Associate :	Prahans Infra - Projects Private Limited [U45203MH2006PTC161497]

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 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	50.000	50.000	50.000
(b) Reserves & Surplus	486.335	459.012	427.224
(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)	536.335	509.012	477.224
(3) Non-Current Liabilities
(a) Long-term borrowings	372.913	424.615	397.711
(b) Deferred tax liabilities (Net)	1.716	1.663	1.491
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.237	0.030	2.494
Total Non-current Liabilities (3)	374.866	426.308	401.696
(4) Current Liabilities
(a) Short term borrowings	203.462	33.475	72.887
(b) Trade payables	1328.352	1380.154	1594.363
(c) Other current liabilities	33.342	33.296	220.442
(d) Short-term provisions	0.000	0.000	0.076
Total Current Liabilities (4)	1565.156	1446.925	1887.768
TOTAL	2476.357	2382.245	2766.688
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	77.976	79.779	79.028
(ii) Intangible Assets	0.000	0.007	0.019
(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	6.999	6.999	0.025
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	33.709	33.709	33.709
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	118.684	120.494	112.781
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	676.971	507.780	738.357
(c) Trade receivables	794.100	844.047	791.398
(d) Cash and cash equivalents	764.793	748.648	968.901
(e) Short-term loans and advances	76.246	116.950	120.201
(f) Other current assets	45.563	44.326	35.050
Total Current Assets	2357.673	2261.751	2653.907
TOTAL	2476.357	2382.245	2766.688

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	4051.175	5351.562	6081.846
		Other Income	134.988	114.256	101.971
		TOTAL (A)	4186.163	5465.818	6183.817
Less	EXPENSES
		Purchases of Stock-in-Trade	4013.237	4842.563	5486.319
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(169.192)	230.578	209.308
		Employees benefits expense	12.937	9.387	86.366
		Other expenses	190.785	229.070	182.750
		TOTAL (B)	4047.767	5311.598	5964.743
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		138.396	154.220	219.074
Less	FINANCIAL EXPENSES (D)		95.826	104.296	132.440
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		42.570	49.924	86.634
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.694	1.663	1.602
	PROFIT BEFORE TAX (E-F) (G)		40.876	48.261	85.032
Less	TAX (H)		13.353	16.473	28.579
	PROFIT AFTER TAX (G-H) (I)		27.523	31.788	56.453
	Earnings Per Share (Rs.)		5.50	6.36	11.29

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.68	0.59	0.93
Operating Profit Margin (PBDIT/Sales)	(%)	3.42	2.88	3.60
Return on Total Assets (PBT/Total Assets}	(%)	1.66	2.03	3.07
Return on Investment (ROI) (PBT/Networth)		0.08	0.09	0.18
Debt Equity Ratio (Total Debt/Networth)		1.07	0.90	0.99
Current Ratio (Current Asset/Current Liability)		1.51	1.56	1.41

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	50.000	50.000	50.000
Reserves & Surplus	427.224	459.012	486.335
Net worth	477.224	509.012	536.335
Long-term borrowings	397.711	424.615	372.913
Short term borrowings	72.887	33.475	203.462
Total borrowings	470.598	458.090	576.375
Debt/Equity ratio	0.986	0.900	1.075

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	6081.846	5351.562	4051.175
		(12.008)	(24.299)

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	6081.846	5351.562	4051.175
Profit	56.453	31.788	27.523
	0.93%	0.59%	0.68%

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	No
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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10186049	27/04/2012 *	3,880,000,000.00	BANK OF BARODA	CORPORATE FINANCIAL SERVICES BR., 10/12, 4TH, FLOOR, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA  - 400023, INDIA	B39556378
2	10089662	25/04/2008 *	1,100,000,000.00	BANK OF BARODA	CORPORATE FINANCIAL SERVICE BRANCH, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	A42304824
3	10150447	30/10/2007	845,000,000.00	THE BANK OF BARODA LIMITED	CORPORATE FINANCIAL SERVICE BRANCH, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	A26964668

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans and advances from directors	167.134	234.134
Loans and advances from others	4.202	8.612
Other loans and advances	201.577	181.869
Total	372.913	424.615

FINANCIALS:

This was the year of consolidation and impact of global recession as well as high fluctuation in currency market, however, the profit after tax of Rs. 27.523 Millions at the end of financial year in spite of several negative factor. This shows the strength of the business, strong principals and team work. The Directors also foresee some more impact of global recession for next couple of financial year and for this, the directors have decided to focus on their core area of business and to motivate team to do well in coming tough times.

PERFORMANCE DURING THE CURRENT YEAR:

The last financial year was a year of much fluctuation in various markets, including currency market, which affects import and export of goods and materials. The directors were of the view that the last financial year was very challenging and expecting further challenge in the forthcoming financial years due to global recession and impact thereof. However, in spite of such a situation, the Board expresses their satisfaction of profitability achieved by the Company and strict discipline observed by the team members to maintain the profitability of the Company.

FIXED ASSETS:

· Land

Buildings

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Other equipments

Computer software

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. 61.89
UK Pound	1	Rs. 93.92
Euro	1	Rs. 72.01

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.