MIRA INFORM REPORT

Report No. :	332228
Report Date :	15.07.2015

IDENTIFICATION DETAILS

Name :	UNIFIED COMMODITIES
Registered Office :	3rd Floor, A Wing, Shrikant Chambers, Next to R.K Studio, Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra
Tel. No.:	91-22-25209732 / 3750
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	2010
Capital Investment / Paid-up Capital :	Rs.39.620 Million
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Supplier of through frames, cuplok standards / verticals, adjustable base jack, cross braces, coupling pin, guardrail systems, universal jack, TMT bars, swaged poles etc.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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 partnership concern having satisfactory track. Rating takes into consideration, concerns operational performance. As claimed by Mr. Pranay Aggarwal (Partner), the subject has achieved sales turnover of Rs.300.000 Million during FY 2014-2015. Trade relations are fair. Business is active. Payment terms are reported to be usually correct Subject 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 – 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 PARTED BY

Name :	Mr. Pranay Aggarwal
Designation :	Partner
Contact No.:	91-9820354637
Date :	14.07.2015

LOCATIONS

Registered Office / Warehouse :	3rd Floor, A Wing, Shrikant Chambers, Next to R.K Studio, Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra, India
Tel. No.:	91-22-25209732 / 3750
Mobile No.:	91-9820354637 (Mr. Pranay Aggarwal)
Fax No.:	91-22- 25209615
E-Mail :	sales@unifiedcommodities.com pranay_0509@yahoo.com
Website :	http://www.unifiedcommodities.com

PARTNERS

Name :	Mr. Pranay Aggarwal
Designation :	Partner
Name :	Mrs. Nanda Aggarwal
Designation :	Partner
Name :	Mrs. Alka Aggarwal
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Supplier of through frames, cuplok standards / verticals, adjustable base jack, cross braces, coupling pin, guardrail systems, universal jack, TMT bars, swaged poles etc.
Products :	Frames, cuplok standards / verticals, adjustable base jack, cross braces, coupling pin, guardrail systems, universal jack, TMT bars, swaged poles etc.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Credit
Purchasing :	Credit

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Balas Steel Tubes, Mumbai
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 :

Contractor

Reference :	Capacite infraprojects Private Limited
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 :

15 (Approximately)

Bankers :

Bank Name	HDFC Bank
Branch	Chembur, Mumbai, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-61606161
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)	Continuously ringing

Auditors :
Name :	T. R. Upadhya and Company Chartered Accountants
Name :	Mohit T. Agarwal and Company Chartered Accountants
Memberships :	--
Collaborators :	--
Sister Concern :	Esvee Steel Enterprises

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs.39.620 Million
Borrowed :	--
Total :	Rs.39.620 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
1] Capital Accounts		39.620	26.020
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		39.620	26.020
LOAN FUNDS
1] Secured Loans		45.066	12.484
2] Unsecured Loans		27.905	9.919
TOTAL BORROWING		72.971	22.403
DEFERRED TAX LIABILITIES
TOTAL		112.591	48.423
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.937	12.708
Capital work-in-progress		0.000	0.000
INVESTMENT		0.405	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.362	0.243
	Sundry Debtors	111.833	44.614
	Cash & Bank Balances	0.664	1.286
	Other Current Assets	0.000	0.000
	Loans & Advances	24.842	7.535
Total Current Assets		143.701	53.678
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities and Provisions	43.452	17.963
Total Current Liabilities		43.452	17.963
Net Current Assets		100.249	35.715
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		112.591	48.423

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	249.212	181.263
	Other Income	2.628	0.682
	TOTAL	251.840	181.945
Less	EXPENSES
	Direct Expenses	13.542	0.504
	Indirect Expenses	23.887	19.741
	Cost of Goods Sold	196.853	153.486
	Interest on Partners Capital	2.897	2.229
	Remuneration to Partners	8.886	3.681
	TOTAL	246.065	179.641
	PROFIT/ (LOSS)	5.775	2.304

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	300.000

The above information has been parted by Mr. Pranay Aggarwal.

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	2.32	1.27
Operating Profit Margin (PBIDT/Sales)	(%)	2.32	1.27
Return on Total Assets (PBT/Total Assets}	(%)	3.71	3.47
Return on Investment (ROI) (PBT/Networth)		0.15	0.09
Debt Equity Ratio (Total Debt /Networth)		1.84	0.86
Current Ratio (Current Asset/Current Liability)		3.31	2.99

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Capital Accounts	26.020	39.620
Reserves & Surplus	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	26.020	39.620
Secured Loans	12.484	45.066
Unsecured Loans	9.919	27.905
Total borrowings	22.403	72.971
Debt/Equity ratio	0.861	1.842

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	181.263	249.212
		37.486

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	181.263	249.212
Profit	2.304	5.775
	1.27%	2.32%

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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
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 two years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	---
33	Market information	---
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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 records 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.63.49
UK Pound	1	Rs.98.19
Euro	1	Rs.69.73

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	SAN
Report Prepared by :	SNT

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
--PROFITABILITY	1~10	6
--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	NO
--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		46

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.