MIRA INFORM REPORT

Report No. :	332978
Report Date :	23.07.2015

IDENTIFICATION DETAILS

Name :	SUN AND SUN INFRAMETRIC PRIVATE LIMITED (w.e.f.20.01.2009)
Formerly Known As :	NUP CONSTRUCTION PRIVATE LIMITED
Registered Office :	11/146, Near Chikni Mandi, Malviya Road, Raipur – 492001, Chhattisgarh
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.10.2004
Com. Reg. No.:	10-017034
Capital Investment / Paid-up Capital :	Rs.2.996 Million
CIN No.: [Company Identification No.]	U04520CT2004PTC017034
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company.
Line of Business :	Subject is act as a Real Estate Agency.
No. of Employees :	19 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 130000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Company has incurred losses from its operations in financial year 2014. Further rating constraints on account of increasing short term borrowings of the company and unfavourable gap between trade payable and trade receivables of the company. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 – 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 (GENERAL DETAILS)

Name :	Mr. Amit Izardar
Designation :	Account Department
Contact No.:	91-771-4045065
Date :

LOCATIONS

Registered Office :	11/146, Near Chikni Mandi, Malviya Road, Raipur – 492001, Chhattisgarh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sewak@thesstpl.com cs_gangotri@yahoo.co.in
Website :	http://www.thesslpl.com
Branch Office :	Opposite, Jansampark Karyalaya, Near Government School, Mahila Thana Chowk Raipur – 492001, Chhattisgarh, India
Tel. No.:	91-771-4045065
E-Mail :	info@thessipl.com

DIRECTORS

As on 29.09.2014

Name :

Mr. Shyam Sunder Sharma

Designation :

Director

Address :

Jamunotri, Gokul Chandrama Mandir Road, Budhapara, Raipur – 492001, Chhattisgarh, India

Date of Birth/Age :

19.09.1971

Date of Appointment :

30.09.2006

DIN No.:

00854633

Name :

Mr. Vinod Kumar Sharma

Designation :

Director

Address :

Sharma Pariwar, Gokul Chanrama Mandir Road, Budhapara, Raipur – 492001, Chhattisgarh, India

Date of Birth/Age :

12.03.1987

Date of Appointment :

30.09.2006

DIN No.:

01154100

Name :

Mr. Sandeep Kumar Sharma

Designation :

Director

Address :

Panchwati, Gokul Chadrama Mandir Road, Budhapara, Raipur – 492001, Chhattisgarh, India

Date of Birth/Age :

09.06.1958

Date of Appointment :

07.05.2012

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	U45201CT1997PTC011543	MAHAMAYA GRAHNIRMAN PRIVATE LIMITED	Director	07/03/2008	07/03/2008	-	Active	NO
2	U04520CT2004PTC017034	SUN AND SUN INFRAMETRIC PRIVATE LIMITED	Director	07/05/2012	09/04/2008	-	Active	NO
3	U51900WB2006PTC108011	PRAPTI TIE-UP PVT LTD	Director	19/08/2009	19/08/2009	-	Amalgamated	NO
4	U51109WB2006PTC107542	BLUEVIEW VYAPAAR PVT LTD	Director	19/08/2009	19/08/2009	-	Amalgamated	NO
5	U51909WB2004PTC100329	TRISHNA GOODS PRIVATE LIMITED	Additional director	07/06/2010	07/06/2010	-	Amalgamated	NO
6	U70101WB2005PTC105750	KANODIA HIRISE PRIVATE LIMITED	Additional director	07/06/2010	07/06/2010	-	Amalgamated	NO
7	U74140CT2008PTC020666	NANDIKA CONSULTANCY SERVICES PRIVATE LIMITED	Director	30/07/2011	30/07/2011	24/08/2013	Active	NO
8	U15331CT2013PTC000703	SUN AND SUN CATTLE FEED PRIVATE LIMITED	Director	15/01/2013	15/01/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Amit Izardar
Designation :	Account Department

MAJOR SHAREHOLDERS

Shareholder File Attached

As on 29.09.2014

Category	Percentage
Bodies corporate	33.32
Directors or relatives of Directors	66.68
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is act as a Real Estate Agency.
Products/ Services :	Real Estate Agency
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Shri Bajrang Power and Ispat Limited, Raipur, Chhattisgarh, India
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 :

Retailers and Others

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 :

19 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Shastri Market Raipur, Chhattisgarh, 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

Auditors :
Name :	Pendse Jain and Shah Chartered Accountants
Address :	S-244/246, 2^nd Floor, Guru Ghasida Plaza, G E Road, Raipur – 492001, Chhattisgarh, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAHFP0997L
Memberships :	Not Available
Collaborators :	Not Available
Other Related Parties:	Gangotri Traccon Private Limited Minimax Commerce Parivate Limited Mahamaya Grah Niman Private Limited Pioneermax Business Private Limited

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
850000	Equity Shares	Rs.10/- each	Rs.8.500 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
900000	Equity Shares	Rs.10/- each	Rs.9.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
299600	Equity Shares	Rs.10/- each	Rs.2.996 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	2.996	2.996	2.996
(b) Reserves & Surplus	42.812	47.632	43.718
(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)	45.808	50.628	46.714
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	2.269	2.277	2.279
(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)	2.269	2.277	2.279
(4) Current Liabilities
(a) Short term borrowings	89.475	236.541	130.067
(b) Trade payables	228.135	12.917	10.357
(c) Other current liabilities	168.008	114.051	136.010
(d) Short-term provisions	3.223	4.404	5.635
Total Current Liabilities (4)	488.841	367.913	282.069
TOTAL	536.918	420.818	331.062
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.465	6.395	6.396
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5.465	6.395	6.396
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	424.849	304.933	292.114
(c) Trade receivables	1.300	10.808	3.013
(d) Cash and cash equivalents	18.611	3.625	2.634
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	86.693	95.057	26.905
Total Current Assets	531.453	414.423	324.666
TOTAL	536.918	420.818	331.062

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	46.919	127.306	39.389
	Other Income	0.851	0.951	0.441
	TOTAL	47.770	128.257	39.830
Less	EXPENSES
	Project Expenses	107.534	109.651	85.384
	Purchases of Stock-in-Trade	48.204	1.869	73.335
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(119.916)	(12.819)	(128.994)
	Employees benefits expense	3.031	2.639	1.963
	Other expenses	11.520	5.078	1.849
	Exceptional Items	(16.534)	0.000	(11.606)
	TOTAL	33.839	106.418	21.931
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	13.931	21.839	17.899
Less	FINANCIAL EXPENSES	11.737	16.790	6.786
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2.194	5.049	11.113
Less	DEPRECIATION/ AMORTISATION	0.456	0.487	0.517
	PROFIT/ (LOSS) BEFORE TAX	1.738	4.562	10.596
Less	TAX	6.557	0.650	3.074
	PROFIT/ (LOSS) AFTER TAX	(4.819)	3.912	7.522
	Earnings / (Loss) Per Share (Rs.)	16.08	13.06	25.10

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	179.364	(82.414)	(63.891)
Net cash flow from operating activity	172.465	(86.0177)	(64.028)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(10.27)	3.07	19.10
Operating Profit Margin (PBIDT/Sales)	(%)	29.69	17.15	45.44
Return on Total Assets (PBT/Total Assets}	(%)	0.32	1.08	3.20
Return on Investment (ROI) (PBT/Networth)		0.04	0.09	0.23
Debt Equity Ratio (Total Debt /Networth)		1.95	4.67	2.78
Current Ratio (Current Asset/Current Liability)		1.09	1.13	1.15

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	2.996	2.996	2.996
Reserves & Surplus	43.718	47.632	42.812
Net worth	46.714	50.628	45.808
long-term borrowings	0.000	0.000	0.000
Short term borrowings	130.067	236.541	89.475
Total borrowings	130.067	236.541	89.475
Debt/Equity ratio	2.784	4.672	1.953

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	39.389	127.306	46.919
		223.202	(63.145)

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	39.389	127.306	46.919
Profit	7.522	3.912	(4.819)
	19.10%	3.07%	(10.27%)

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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short Term Borrowing
From Directors and Group Companies	89.474	236.541
Total	89.474	236.541

INDEX OF CHARGES

No Charges Exist for Company 

FIXED ASSETS

• Printer and Ups
• Safe Locker
• Water Cooler
• Water Purifier Machine
• Weight Bridge
• Inverter and Battery
• Land
• Office Lift
• Photocopy Machine
• Air Conditioner
• EPABX System
• Computers
• Office Building
• Furniture and Fixture
• Fire Fighting Equipment
• Wall Fans
• Coffee Machine
• CCTV Office
• Glow Sign Hoarding Board
• Biometric Machine Mobile Equipment
• Currency Note Counting Machine
• Vespa Scooter

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.63.52
UK Pound	1	Rs.99.19
Euro	1	Rs.69.60

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KIN
Report Prepared by :	SUD

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	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.