MIRA INFORM REPORT

Report No. :	305164
Report Date :	28.01.2015

IDENTIFICATION DETAILS

Name :	GOMA ENGINEERING PRIVATE LIMITED
Registered Office :	Majiwada Behind Univarsal Petrol Pump, Thane – 400602, Mumbai, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.06.1982
Com. Reg. No.:	11-027510
Capital Investment / Paid-up Capital :	Rs. 8.750 Millions
CIN No.: [Company Identification No.]	U28920MH1982PTC027510
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNEG05217C
PAN No.: [Permanent Account No.]	AABCG1059K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Homogenizer Dairy and food processing machinery and high pressure reciprocating pump.
No. of Employees :	100 (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. As per registrar of companies the date of balance sheet of (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financial of 2014 are not available from any source. As per financials 2013, financial position of the company is decent. Trade relations are reported as fair. Business is active. Payment 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 – 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 credit quality and average credit risk.
Date	September 09, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	September 09, 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 PARTED BY

Name :	Mr. Chetan Gosani
Designation :	Director
Contact No.:	91-9322654233
Date :	28.01.2015

LOCATIONS

Registered / Head Office :	Off. L. B. S. Marg, Majiwada, Behind Universal Petrol Pump, Thane – 400 602, Maharashtra, India
Tel. No.:	91-22-41614161 / 41614162 / 25346436 / 25340875 / 2173800 / 41614152 / 21731801 / 02 / 21731800 / 21731802
Mobile No.:	91-9323392003 (Mr. Mayur Shah)
Fax No.:	91-22-41614162 / 21731803
E-Mail :	goma@vsnl.com info@gomaengg.com mayurs@goma.co.in
Website:	http://www.gomaengg.com
Area :	3500 sq. ft.
Location :	Owned
Factory :	214/2, Village Khupari, Off. Bhiwandi Wada Road, Taluka Wada, District Thane – 421 312, Maharashtra , India
Area :	Land Area-5 Acers and Build Up-35000 sq. ft.
Location :	Owned
Branch Office :	Located at: · Faridabad · Chennai · Kolkata · Bangalore · Koramangala · New Delhi
Overseas Office :	18311 Longmoor Dr., Houston, TX77084, USA
Tel. No.:	832-454-9639
E-Mail :	brett.goma@att.net

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Keshavji Meghji Gosrani

Designation :

Managing Director

Address :

11/12, Kashima Apartments, 4^th Floor, Mani Baug, L.B. Marg, Thane – 400 602, Maharashtra, India

Date of Birth/Age :

16.09.1940

Date of Appointment :

26.06.1982

DIN No.:

00405003

Name :

Mr. Jayesh Keshavji Gosrani

Designation :

Managing Director

Address :

801/802, Carlyle Raheja Gardens, LBS Marg, Thane – 400 604, Maharashtra, India

Date of Birth/Age :

28.11.1965

Date of Appointment :

31.03.2010

DIN No.:

00405543

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	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Managing director	31/03/10	01/04/95	-	Active	NO

Name :

Mr. Chetan Keshavji Gosrani

Designation :

Managing Director

Address :

11/12, Kashima Appartments, 4^th Floor, Mani Baug, L.B. Marg, Thane – 400 602, Maharashtra, India

Date of Birth/Age :

17.02.1972

Date of Appointment :

31.03.2010

DIN No.:

00405765

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	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Managing director	31/03/10	01/04/00	-	Active	NO

Name :

Mr. Bijal Chetan Gosrani

Designation :

Director

Address :

901/902, Astoria Raheja Gardens, LBS Marg, Thane – 400 604, Maharashtra, India

Date of Birth/Age :

20.01.1977

Date of Appointment :

14.05.2010

DIN No.:

02724106

Name :

Ms. Sema Jayesh Gosrani

Designation :

Director

Address :

801/802, Carlyle Raheja Gardens, LBS Marg, Thane – 400 604, Maharashtra, India

Date of Birth/Age :

17.04.1968

Date of Appointment :

14.05.2010

DIN No.:

02731092

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	U29268MH2010PTC198805	AABA FOODTECH PRIVATE LIMITED	Director	12/01/10	12/01/10	-	Strike off	NO
2	U28920MH1982PTC027510	GOMA ENGINEERING PRIVATE LIMITED	Director	14/05/10	14/05/10	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Suman
Designation :	Sales Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Keshavji Meghji Gosrani	15675
Keshavji Meghji Gosrani, Karta K M Gosrani	250
Manjulaben Keshavji Gosrani	1575
Jayesh Keshavji Gosrani	28745
Jayesh Keshavji Gosrani Karta J K Gosrani	1580
Sema Jayesh Gosrani	9050
Chetan Keshavji Gosrani	25825
Chetan Keshavji Gosrani Karta C K Gosrani	70
Bijal Chetan Gosrani	4730
Total	87500

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Homogenizer Dairy and food processing machinery and high pressure reciprocating pump.

Products :

Item Code No. (ITC Code)	Product Description
Equipment Dairy	8434.20.00
Spare of Homogeniser	8434.90.20
Machinery and Equipment for other than dairy	8479.90.20
P.D. Pump	8413.19

· Dairy Products and Pumps

· Yoghurt Line

· Ice Cream Line

· Milk Products Line

· Fruit Pulp / Juice Processing Line

· Fruit Beverage Line

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Homogenizers

Countries :

· Australia

· Bangladesh

· Belgium

· France

· Iran

· Denmark

· Algeria

Imports :

Products :

Raw Material

Countries :

Italy

Terms :

Selling :

Cash and Credit (30 days)

Purchasing :

Cash and Credit (30 days)

PRODUCTION STATUS (AS ON: 31.03.2011)

Particulars	Unit	Actual Production
Homogenizer	In Nos.	65
Create Washer	In Nos.	11
Pumps	In Nos.	149
VIP Pumps	In Nos.	19

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 :

100 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Louis Wadi Serivce Road, Thane
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)	2011
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Rs. 140.000 Millions
Account Operation	--
Remarks (If any)	Not Divulged

· Andhra Bank, Yogeshwar Dham, M G Road, Mulund (West), Mumbai – 400 080, Maharashtra, India

· Small Industries Development Bank of India, 1 and 2 Dhanalaxmy Residency, Near Hotel Tip Top Plaza, LBS Marg, Thane – 400 602, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
From SIDBI (Against mortgaged of machinery)	10.677	14.827
From Banks (Against hypothecation of cars)	5.118	5.769
Bank overdraft with Bank of Baroda (Against fixed deposits with banks)	1.696	2.072
Bank overdraft with State Bank of India (Against hypothecation of immovable property and stock)	7.403	0.000
Cash credit State Bank of India A/c No – 31766922060 (Against Hypothecation of Immovable property and stock)	58.538	53.992
Total	83.432	76.660

Auditors :
Name :	Ponkshe Kulkarni and Company Chartered Accountants
Address :	7, Chaudhary Building, Brahman Society, Naupada, Thane (West), Thane – 400 602, Maharashtra, India
Tel. No.:	91-22-25400450
PAN No.:	AAFFP5555L
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
87500	Equity Shares	Rs.100/- each	Rs.8.750 millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
35000	Equity Shares	Rs.100/- each	Rs.3.500 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3.500	3.500	3.500
(b) Reserves & Surplus	103.463	86.545	70.920
(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)	106.963	90.045	74.420
(3) Non-Current Liabilities
(a) Long-term borrowings	10.270	11.992	13.901
(b) Deferred tax liabilities (Net)	2.191	2.569	1.839
(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)	12.461	14.561	15.740
(4) Current Liabilities
(a) Short term borrowings	119.264	103.032	88.005
(b) Trade payables	82.037	69.374	54.278
(c) Other current liabilities	19.726	36.218	32.786
(d) Short-term provisions	34.490	39.751	30.450
Total Current Liabilities (4)	255.517	248.375	205.519
TOTAL	374.941	352.981	295.679
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	73.318	75.855	51.604
(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	0.101	0.101	0.101
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.676	8.727	7.758
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	81.095	84.683	59.463
(2) Current assets
(a) Current investments	4.600	4.506	5.861
(b) Inventories	86.780	91.956	76.801
(c) Trade receivables	103.786	88.491	78.996
(d) Cash and cash equivalents	28.338	21.605	24.581
(e) Short-term loans and advances	70.342	61.740	49.977
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	293.846	268.298	236.216
TOTAL	374.941	352.981	295.679

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	425.520	345.910	328.742
		Other Income	6.577	4.044	6.028
		TOTAL (A)	432.097	349.954	334.770
Less	EXPENSES
		Cost of Materials Consumed	249.250	187.059	289.993
		Changes in Inventories	(7.658)	(5.864)
		Employee Benefits Expenses	68.078	61.931
		Other Expenses	69.186	61.819
		TOTAL (B)	378.856	304.945	289.993
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		53.241	45.009	44.777
Less	FINANCIAL EXPENSES (D)		14.008	12.416	9.773
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		39.233	32.593	35.004
Less	DEPRECIATION/ AMORTISATION (F)		12.638	8.239	7.742
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		26.595	24.354	27.262
Less	TAX (H)		9.660	8.730	8.886
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		16.935	15.624	18.376
	Earnings Per Share (Rs.)		484.00	446.00	525.00

Particulars	31.03.2014
Sales Turnover (Approximately)	500.000

Expected Sales (2014-15): Rs. 1000.000 Millions

The above information has been parted by Mr. Chetan Gosani (Director)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	3.98	4.52	5.59
Operating Profit Margin (PBDIT/Sales)	(%)	12.51	13.01	13.62
Return on Total Assets (PBT/Total Assets}	(%)	7.10	6.90	9.22
Return on Investment (ROI) (PBT/Networth)		0.25	0.27	0.37
Debt Equity Ratio (Total Debt/Networth)		1.21	1.28	1.37
Current Ratio (Current Asset/Current Liability)		1.15	1.08	1.15

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	3.500	3.500	3.500
Reserves & Surplus	70.920	86.545	103.463
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	74.420	90.045	106.963
Long Term borrowings	13.901	11.992	10.270
Short Term borrowings	88.005	103.032	119.264
Total borrowings	101.906	115.024	129.534
Debt/Equity ratio	1.369	1.277	1.211

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Income	328.742	345.910	425.520
		5.222	23.015

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR)	(INR)	(INR)
Sales	328.742	345.910	425.520
Profit	18.376	15.624	16.935
	5.59%	4.52%	3.98%

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	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	Yes
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
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

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Under Sales Tax Incentive under PSI
Sale Tax Loan PSI 1993 CST	5.292	5.739
Sale Tax Loan PSI 1993 MST	4.978	6.253
SHORT TERM BORROWINGS
From directors and shareholders	35.832	26.372
Total	46.102	38.364

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10520955	16/09/2014	10,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	1 & 2 DHANALAXMI RESIDENCY, NEAR HOTEL TIP TOP PL  AZA, L. B. S. MARG, THANE, MAHARASHTRA - 400602, INDIA	C21508197
2	10313789	12/10/2011	3,800,000.00	SMALL INDUSTRIES DEVELOPMENTS BANK OF INDIA	1 & 2 DHANALAXMY RESIDECNY, NEAR HOTEL, TIP TOP P  LAZA, LBS MARG, AZA, LBS MARG, THANE (W),, THANE WEST, MAHARASHTRA - 400602, INDIA	B23772627
3	10315169	27/05/2014 *	135,000,000.00	STATE BANK OF INDIA	EEH BRANCH, SBI BUILDING, 1ST FLOOR, PLOT NO B-35,  ROAD NO 22, WAGLE CIRCLE, WAGLE INDUSTRIAL ESTATE, THANE, MAHARASHTRA - 400604, INDIA	C19835925
4	10274664	01/03/2011	7,500,000.00	SMALL INDUSTRIES DEVELOPMENTS BANK OF INDIA	1 & 2 DHANALAXMY RESIDECNY, NEAR HOTEL TIP TOP PL  AZA, LBS MARG, THANE (W), THANE, MAHARASHTRA - 400  602, INDIA	B08462814
5	10192595	26/11/2009	5,000,000.00	SMALL INDUSTRIES DEVELOPMENTS BANK OF INDIA	1 & 2 , DHANLAXMI RESIDENCY,, NEAR HOTEL TIP TOP  PLAZA, L.B.S.MARG, THANE, MAHARASHTRA - 400602, INDIA	A75272575
6	10116658	08/07/2008	350,000.00	THE SARASWAT CO-OP BANK LTD	ANTOP HILL BRANCH, KALPAK ESTATE, MUMBAI, MAHARASHTRA - 400037, INDIA	A43285170
7	10114135	06/06/2008	3,000,000.00	SMALL INDUSTRIES DEVELOPMENTS BANK OF INDIA	1 & 2 , DHANLAXMI RESIDENCY ,, NEAR HOTEL TIP TOP  PLAZA, L.B.S. MARG, THANE, MAHARASHTRA – 400 602, INDIA	A41854209
8	10074823	20/03/2007	10,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	102 R.M. PRIDE BUILDING, RAM MARUTI ROAD, THANE (W), THANE, MAHARASHTRA - 400602, INDIA	A26387241
9	10074824	20/03/2007	10,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	102 R.M. PRIDE BUILDING, RAM MARUTI ROAD, THANE (W), THANE, MAHARASHTRA - 400602, INDIA	A26385476

* Date of charge modification

FIXED ASSETS

• Air Conditioner
• Building
• Computer
• Camera
• Electrical Fittings
• Furniture and Fixtures
• Generator
• Land
• Machinery
• Motor Car
• Refrigerator
• Tea Vending Machine
• Road Construction
• Water Cooler
• Water Filter
• Xerox Machine
• Water Softener

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. 61.46
UK Pound	1	Rs. 92.77
Euro	1	Rs. 69.03

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUB
Report Prepared by :	JYO

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	4
--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	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		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.