MIRA INFORM REPORT

Report No. :	330689
Report Date :	06.07.2015

IDENTIFICATION DETAILS

Name :	AALIDHRA TEXPRO ENGINEERS PRIVATE LIMITED
Registered Office :	Plot No. B/52, R P Road No. 3, Udyognagar, Udhana District, Surat – 394210, Gujarat
Tel. No.:	91-261-2278059/2279520/30
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.06.2013
Com. Reg. No.:	04-019616
Capital Investment / Paid-up Capital :	Rs. 4.200 Million
CIN No.: [Company Identification No.]	U29199GJ1993PTC019616
IEC No.:	5297002729
TAN No.: [Tax Deduction & Collection Account No.]	SRTA00487E
PAN No.: [Permanent Account No.]	AACCA0256D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporters of Filaments And Spun Yarn Processing Machinery, Electro Medical Equipments and Textile Controls.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1400000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track. There seems dip in the sales turnover and profit of the company during 2014. However, financial position of the company seem to be decent. Company is operating on its owned funds. Trade relations are fair. Business is active. Payment terms are 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Samir Shaikh
Designation :	Accounts Department
Contact No.:	91-261-2279520
Date :	06.07.2015

LOCATIONS

Registered Office :	Plot No. B/52, R P Road No. 3, Udyognagar, Udhana District, Surat – 394210, Gujarat, India
Tel. No.:	91-261-2278059/2279520/30
Fax No.:	91-261-2278899
E-Mail :	aalidhra@aalidhra.com textro@aalidhra.com
Website :	www.aalidhra.com
Factory :	Plot No. 3 Block No. 122, Vaghdhara Road, UT of Dadra and Nagar Haveli – 396191, Silvassa, India
Fax No.:	91-261-227879

DIRECTORS

As on 30.09.2014

Name :

Mr. Deepakbhai Chhaganbhai Gondalia

Designation :

Director

Address :

21, Sankalp Society, Bhatar Road, Surat – 395001, Gujarat, India

Date of Birth/Age :

30.05.1971

Date of Appointment :

01.07.2004

DIN No.:

00051243

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	U17114GJ1990PTC014026	GOKULANAND POLYTECH PRIVATE LIMITED	Director	12/07/1990	12/07/1990	-	Active	NO
2	U29199GJ1993PTC019616	AALIDHRA TEXPRO ENGINEERS PRIVATE LIMITED	Director	01/07/2004	01/07/2004	-	Active	NO
3	U29259GJ1990PTC014034	AALIDHRA TEXTOOL ENGINEERS PRIVATE LIMITED	Director	01/10/2004	01/10/2004	-	Active	NO

Name :

Mr. Rameshbhai Harjibhai Gondalia

Designation :

Director

Address :

100, Sant Tukuram Society, Bhatar Road, Surat – 395001, Gujarat, India

Date of Birth/Age :

01.06.1961

Date of Appointment :

08.06.1993

DIN No.:

00051277

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	U17114GJ1990PTC014026	GOKULANAND POLYTECH PRIVATE LIMITED	Director	12/07/1990	12/07/1990	-	Active	NO
2	U28999GJ1990PTC013933	SETU ENGINEERS PRIVATE LIMITED	Director	25/09/1990	25/09/1990	-	Active	NO
3	U29199GJ1993PTC019616	AALIDHRA TEXPRO ENGINEERS PRIVATE LIMITED	Director	08/06/1993	08/06/1993	-	Active	NO
4	U17110GJ1994PTC021245	GOKULANAND TEXTURISERS PRIVATE LIMITED	Director	28/04/2005	28/04/2005	-	Active	NO
5	U26940GJ2005PLC046991	AALIDHRA AND BHAVANI CLINKERS LIMITED	Director	27/10/2005	27/10/2005	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Samir Shaikh
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Rameshbhai Harjibhai Gondalia	4000
Harjibhai Ambalal Gondalia (HUF)	1500
Manjulaben Shambhubhai Gondalia	2000
Ashokbhai Harjibhai Gondalia	4000
Payal Ashokbhai Gondalia	4000
Chhaganbhai Ambalal Gondalia	4000
Rameshbhai Harjibhai Gondalia (HUF)	1300
Prashant Hansrajbhai Gondalia	200
Hansraj Ambalal Gondalia	2000
Sudhaben Ashikkumar Gondalia	4000
Harsh Ashokkumar Gondalia	1000
Tirthraj Rameshkumar Gondalia	3000
Sonalben Rameshchandra Gondalia	4000
Harjibhai Ambalal Gondalia	4000
Diwaliben Harjibhai Gondalia	3000
Total	42000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporters of Filaments And Spun Yarn Processing Machinery, Electro Medical Equipments and Textile Controls.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

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:	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name	Bank of Baroda
Branch	Opp.Udhna Udyog Nagar Sahakari Mandli Limited, Road No.10, Udhna,, Surat - 394210, Gujarat, 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 Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Bank of Baroda term loan	0.000	1.453
Total	0.000	1.453

Auditors :
Name :	B. R. Trivedi and Company Chartered Accountant
Address :	343, New Ashirwad villa, Near Thomas English Highschool, Bhartana Vesu, Surat – 395007, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	ABAPT4987G
Memberships :	--
Collaborators :	--
Related Parties :	Alidhra Ele Industry Kumar Machines Avdhesh Industry Sarovar Spintex Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
42000	Equity Shares	Rs.100/- each	Rs. 4.200 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	4.200	4.200	4.200
(b) Reserves & Surplus	482.049	441.598	393.541
(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)	486.249	445.798	397.741
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	1.453	3.464
(b) Deferred tax liabilities (Net)	1.141	1.471	1.678
(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)	1.141	2.924	5.142
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	110.330	90.084	76.527
(c) Other current liabilities	4.525	30.353	43.793
(d) Short-term provisions	14.500	21.500	20.000
Total Current Liabilities (4)	129.355	141.937	140.320
TOTAL	616.745	590.659	543.203
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	55.804	61.256	60.913
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	14.676	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	159.875	186.581	203.648
(c) Deferred tax assets (net)	0.000	0.000	0.000
(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	230.355	247.837	264.561
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	189.494	141.925	109.562
(c) Trade receivables	36.952	37.140	51.088
(d) Cash and cash equivalents	17.615	3.711	10.822
(e) Short-term loans and advances	142.329	160.046	107.170
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	386.390	342.822	278.642
TOTAL	616.745	590.659	543.203

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	330.246	427.708	387.406
		Other Income	18.970	10.452	10.617
		TOTAL (A)	349.216	438.160	398.023
Less	EXPENSES
		Cost of Materials Consumed	206.576	233.168	233.935
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(20.588)	10.568	(11.694)
		Employees benefits expense	14.285	15.443	12.706
		Other expenses	87.950	101.342	85.290
		TOTAL (B)	288.223	360.521	320.237
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		60.993	77.639	77.786
Less	FINANCIAL EXPENSES (D)		0.365	0.313	0.672
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		60.628	77.326	77.114
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.128	6.531	5.692
	PROFIT BEFORE TAX (E-F) (G)		54.500	70.795	71.422
Less	TAX (H)		14.049	22.738	20.094
	PROFIT AFTER TAX (G-H) (I)		40.451	48.057	51.328
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	69.281	0.829	4.930
	IMPORTS
		CIF Value of Imports	27.718	20.584	6.502
	TOTAL IMPORTS		27.718	20.584	6.502
	Earnings Per Share (Rs.)		963.12	1144.21	1222.11

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	12.25	11.24	13.25
Operating Profit Margin (PBIDT/Sales)	(%)	18.47	18.15	20.08
Return on Total Assets (PBT/Total Assets}	(%)	12.32	17.52	21.03
Return on Investment (ROI) (PBT/Networth)		0.11	0.16	0.18
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.01
Current Ratio (Current Asset/Current Liability)		2.99	2.42	1.99

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	4.200	4.200	4.200
Reserves & Surplus	393.541	441.598	482.049
Net worth	397.741	445.798	486.249
long-term borrowings	3.464	1.453	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	3.464	1.453	0.000
Debt/Equity ratio	0.009	0.003	0.000

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)
Sales	387.406	427.708	330.246
		10.403	(22.787)

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	387.406	427.708	330.246
Profit	51.328	48.057	40.451
	13.25%	11.24%	12.25%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Factory Building
• Plant and Machinery
• Tools and Equipments
• Computer
• Vehicles
• Furniture and Fixture
• Office Equipment
• Refrigerator
• Air Conditioner

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.63.40
UK Pound	1	Rs.98.94
Euro	1	Rs.70.33

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RSM
Report Prepared by :	JYTK

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	6
--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
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.