MIRA INFORM REPORT

Report No. :	302222
Report Date :	27.01.2015

IDENTIFICATION DETAILS

Name :	ACME AUTO PRIVATE LIMITED
Registered Office :	305, Agarwal Arcade, Plot No-6, Sector-12, Dwarka, Delhi - 110075
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.12.1991
Com. Reg. No.:	55-046898
Capital Investment / Paid-up Capital :	Rs.16.820 Millions
CIN No.: [Company Identification No.]	U74899DL1991PTC046898
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELA13022C
PAN No.: [Permanent Account No.]	AACCA4888R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Engineering Goods, Auto Components and Spare Parts.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1000000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profitability of the company seems to be low. However, trade relations are fair. Business is active. Payment terms are slow but correct. 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.

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

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. Rajeev Dhingra
Designation :	Director
Contact No.:	91-9811725167
Date :	17.01.2015

LOCATIONS

Registered Office :	305, Agarwal Arcade, Plot No-6, Sector-12, Dwarka, Delhi-110075, India
Tel. No.:	Not Available
Mobile No.:	91-9811725168 (Mr. Naveen Manchanda) 91-9811725167 (Mr. Rajeev Dhingro)
Fax No.:	Not Available
E-Mail :	acmeacito@airtelmail.in cs.faridabad@gmail.com manasbusiness@yahoo.com sanjay_chandakca@yahoo.com
Area :	1000 Sq. Ft.
Location :	Owned
Corporate Office / Factory 1:	3-B/25, (B.P), N.I.T, Faridabad - 121001, Haryana, India
Tel. No.:	91-129-4181200-230/ 4050187
Fax No.:	91-129-4050180
Area :	20000 Sq. Ft.
Location :	Rented
Factory 2 :	B-8, Village Jharsetli, Sector-59, Ballabhgarh, Haryana, India
Factory 3 :	Plot No.3,Gali No.5,Block -B,Phase-1,Badhkal Extension, Faridabad, Haryana, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Rajeev Dhingra

Designation :

Director

Address :

H.No. 734, Sector-15, Faridabad – 121006, Haryana, India

Date of Birth/Age :

15.08.1957

Date of Appointment :

30.12.1991

PAN No.:

AEZPD6347N

DIN No.:

01148144

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	U74899DL1991PTC046898	ACME AUTO PRIVATE LIMITED	Director	30/12/1991	30/12/1991	Active	NO
2	U34300DL2001PTC113006	DUA AUTO COMPONENT PRIVATE LIMITED	Director	06/09/2004	06/09/2004	Amalgamated	NO
3	U72200DL2002PTC117466	RAV NET SOLUTIONS PRIVATE LIMITED	Director	06/05/2008	06/05/2008	Amalgamated	NO
4	U74120DL2009PTC197485	ACME PORTFOLIO PRIVATE LIMITED	Director	31/12/2009	31/12/2009	Active	NO

Name :

Mr. Naveen Manchanda

Designation :

Director

Address :

294, Forest Lane, Neb Sarai, New Delhi – 110068, India

Date of Birth/Age :

20.10.1957

Date of Appointment :

30.12.1991

PAN No.:

AGBPM6109K

DIN No.:

01166611

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	U74899DL1991PTC046898	ACME AUTO PRIVATE LIMITED	Director	30/12/1991	30/12/1991	Active	NO
2	U34300DL2001PTC113006	DUA AUTO COMPONENT PRIVATE LIMITED	Director	06/09/2004	06/09/2004	Amalgamated	NO
3	U72200DL2002PTC117466	RAV NET SOLUTIONS PRIVATE LIMITED	Director	06/05/2008	06/05/2008	Amalgamated	NO
4	U74120DL2009PTC197485	ACME PORTFOLIO PRIVATE LIMITED	Director	31/12/2009	31/12/2009	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Rajeev Dhingra	251115	14.93
Naveen Manchanda	251115	14.93
Acme Portfolio Private Limited, India	1179770	70.14
Total	1682000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	70.14
Directors or relatives of Directors	29.86
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Engineering Goods, Auto Components and Spare Parts.
Products :	· Axles · Housings · Shafts and Pinions · Sprockets · Forged Cast components · Retainers · Auto Parts · Hardened Spacers and Thrust · Components for Stater motor and alternator · Gears: Speedometer Gears, Transmission Gears, Auto Engine Parts, etc. · Sheet Metal and Fabricated components · Automotive Shafts · Amature and Alternator Shafts · Brake Cams for Bi-wheelers · Clutch Levers · Clutch Release Shafts, etc.
Brand Names :
Agencies Held :
Exports :	--
Imports :	--
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Omega Bright Steel Private Limited
Name of the Person (with Designation):	Mr. Vipin Verma
Contact Number:	91-9810126132
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Reference:

Hero Motorcorp Limited

Name of the Person (with Designation):

Mr. Navin Bhatt (Senior Manager)

Contact Number:

91-9810214190

Since How Long Known:

Morethan 10 Years

Maximum Limit Dealt:

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remarks :

They gave us positive response about subject company and they are satisfied with their product quality and delivery behavior.

No. of Employees :

(Approximately)

Bankers :

Bank Name:	Kotak Mahindra Bank Limited
Branch:	36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India
Name of the Person (with Designation):	NOT DIVULGED
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks:

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loans - From Banks	18.712	20.520
SHORT TERM BORROWINGS
Loans Repayable on Demand - From Banks	96.878	106.729
Total	115.590	127.249

Auditors :
Name :	SPMR and Associates Chartered Accountants
Address :	Plot No. 8, Block-I, Sector 10 DLF, Opposite. Civil Court, Faridabad – 121006, Haryana, India
Tel. No.:	91-129-4035064/69
Mobile No.:	91-9811389830
E-Mail :	sanjay_chandrakca@yahoo.com
Income-tax PAN of auditor or auditor's firm :	AADFP3610N
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1700000	Equity Shares	Rs.10/- each	Rs.17.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1682000	Equity Shares	Rs.10/- each	Rs.16.820 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	16.820	16.820	10.670
(b) Reserves & Surplus	335.543	334.262	177.795
(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)	352.363	351.082	188.465
(3) Non-Current Liabilities
(a) long-term borrowings	50.367	26.675	19.948
(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)	50.367	26.675	19.948
(4) Current Liabilities
(a) Short term borrowings	96.878	106.729	68.660
(b) Trade payables	124.696	103.405	99.528
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	5.830	2.153	3.191
Total Current Liabilities (4)	227.404	212.287	171.379
TOTAL	630.134	590.044	379.792
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	301.252	237.999	123.637
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.594	1.805	2.378
(e) Other Non-current assets	0.046	0.059	0.042
Total Non-Current Assets	302.892	239.863	126.057
(2) Current assets
(a) Current investments	38.039	35.525	7.611
(b) Inventories	213.638	235.320	140.057
(c) Trade receivables	70.940	58.770	81.454
(d) Cash and cash equivalents	1.054	1.196	6.336
(e) Short-term loans and advances	3.571	19.370	18.277
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	327.242	350.181	253.735
TOTAL	630.134	590.044	379.792

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	372.063	400.620	466.920
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		22.537	16.290	19.780
Less/ Add	DEPRECIATION/ AMORTISATION		20.658	14.530	15.520
	PROFIT/ (LOSS) BEFORE TAX		1.879	1.760	4.260
Less	TAX		0.598	0.710	1.349
	PROFIT/ (LOSS) AFTER TAX		1.281	1.050	2.911
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12.765	11.715	8.804
	BALANCE CARRIED TO THE B/S		14.046	12.765	11.715
	Earnings / (Loss) Per Share (Rs.)		0.76	0.62	2.73

Expected Sales (2014-2015): Rs. 380.000 Millions

The above information has been parted by Mr. Rajeev Dhingra (Director).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.34	0.26	0.62
Return on Total Assets (PBT/Total Assets}	(%)	0.30	0.30	1.12
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.02
Debt Equity Ratio (Total Debt/Networth)		0.42	0.38	0.47
Current Ratio (Current Asset/Current Liability)		1.44	1.65	1.48

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	10.670	16.820	16.820
Reserves & Surplus	177.795	334.262	335.543
Net worth	188.465	351.082	352.363
long-term borrowings	19.948	26.675	50.367
Short term borrowings	68.660	106.729	96.878
Total borrowings	88.608	133.404	147.245
Debt/Equity ratio	0.470	0.380	0.418

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	466.920	400.620	372.063
		(14.199)	(7.128)

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	466.920	400.620	372.063
Profit	2.911	1.050	1.281
	0.62%	0.26%	0.34%

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	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	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	10219986	08/02/2013 *	112,800,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B68783661
2	10194699	08/02/2013 *	133,500,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B68784149
3	10186905	29/07/2011 *	40,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B19683135
4	10117685	26/07/2008	15,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	A43893833

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loans - From Related Parties	31.655	6.155
Total	31.655	6.155

CHANGE OF ADDRESS

The registered office of the company has been shifted from 6, Community Centre, Basement East Kailash, New Delhi-110065, India to the present address w.e.f. 02.02.2009.

OPERATIONS

The company achieved Turnover of Rs 372.063 Millions in comparison to Rs.400.620 Millions of the previous year. The Profitability and other financial results are satisfactory but the Directors are hopeful to achieve better results in current year. During the current year, the Directors are taking steps to improve the turnover after the era of slump in auto sector. Since the company is in the phase of growth and to strengthen the position of the company, Directors are unable to recommend any dividend of the period. The report of auditors is self explanatory and does not require specific comment thereon.

FIXED ASSETS

· Air Conditioner

· Building

· Building under construction

· Land

· Car

· Computer/Printer

· Electrical Fittings

· Electrical Transformer

· Fan and Cooler

· Fire and Safety Equipment

· Furniture and Fixture

· Generators

· Inspection Equipment

· Jigs and Fixtures

· Motorcycle/Scooter

· Stabilizer

· Plant and Machinery

· Office Equipment

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.61.50
UK Pound	1	Rs.92.16
Euro	1	Rs.69.62

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.