MIRA INFORM REPORT

Report No. :	333558
Report Date :	27.07.2015

IDENTIFICATION DETAILS

Name :	POWERSPACK AUTOMATION PRIVATE LIMITED
Registered Office :	2nd Floor, 45, Okhla Industrial Estate, Phase-III, New Delhi-110020
Tel. No.:	91-11-41058131/ 132
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.06.2012
Com. Reg. No.:	55-237461
Capital Investment / Paid-up Capital :	Rs. 18.700 Million
CIN No.: [Company Identification No.]	U29253DL2012PTC237461
IEC No.:	0512032777
TAN No.: [Tax Deduction & Collection Account No.]	DELP18944C
PAN No.: [Permanent Account No.]	AAGCP6891B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Automotives Tooling and Fixtures.
No. of Employees :	Not Divulged

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 45000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Powerspack Automation Private Limited was incorporated on 14^th June 2012 and it is established company having moderate track record. For the financial year ended 2014, the company reported above an average performance in its operational activities and reported profit. The profitability stood at 1.14%. However, the rating constrained on the company accumulated losses which company have incurred from is inceptions lead to deterioration in its capital structure. Trade relations are reported to be fair. Business is active. Payments are slow but correct. The company can be considered for business dealings with some caution.

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

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 DECLINED BY

Name :	Mr. Arif Khan
Designation :	Senior Manager (Human Resources)
Contact No.:	91-11-41058131
Date :	27.07.2015

LOCATIONS

Registered Office :	2nd Floor, 45, Okhla Industrial Estate, Phase-III, New Delhi-110020, India
Tel. No.:	91-11-41058131/ 132
Fax No.:	91-11-41058133
E-Mail :	arif.khan@powerspack.com corp.info@powerspack.com info@powerspack.com
Website :	www.powerspack.com
Factory :	Kasna Road, Village Surajpur, Greater Noida-201306, Uttar Pradesh, India
Tel. No.:	91-120-2560880/ 2560103-6
Fax No.:	91-120-2560881

DIRECTORS

AS ON 29.09.2014

Name :	Mr. Sarvjit Singh Grewal
Designation :	Director
Address :	A-23, Second Floor, Hauz Khas, New Delhi-110016, Delhi, India
Date of Birth/Age :	28.02.1950
Date of Appointment :	14.06.2012
DIN No.:	00292427
Name :	Mr. Aman Chopra
Designation :	Director
Address :	N-20, First Floor, Panchsheel Park, New Delhi-110017, Delhi, India
Date of Birth/Age :	02.09.1971
Date of Appointment :	14.06.2012
DIN No.:	00131213

KEY EXECUTIVES

Name :	Mr. Arif Khan
Designation :	Senior Manager (Human Resources)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Subhash Chopra	467500	25.00
Esha Chopra	467500	25.00
Aman Chopra	467500	25.00
Nandita Aman Chopra	467500	25.00
Total	1870000	100.00

AS ON 29.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Automotives Tooling and Fixtures.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	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 (Designation):	Not Divulged
Contact Number:	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:	HDFC Bank Limited
Branch:	HDFC Bank Housesenapati Bapat Marg, Lower Parel West , Mumbai-400013, Maharashtra, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans from Banks	28.116	16.723
SHORT TERM BORROWINGS
Foreign currency loan Loans repayable on demand from bank	0.000	17.681
Total	28.116	34.404

Banking Relations :	--
Auditors :
Name :	S.P. Puri and Company Chartered Accountants
Address :	4/18, Asaf Ali Road, New Delhi- 110002, India
Tel. No.:	91-11-23274888/ 23277410
Fax No.:	91-11-23272805
E-Mail :	sppuri@vsnl.com office@sppuri.com
Income-tax PAN of auditor or auditor's firm :	AACFS2752D
Memberships :	--
Collaborators :	--
Enterprise over which above mentioned individual have significant Influence :	· Alba Powerspack Tooling India Private Limited · Spack Automation Private Limited · Powerspack Industries Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

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
1870000	Equity Shares	Rs. 10/- each	Rs. 18.700 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)Shareholders' Funds
(a) Share Capital	18.700	18.700
(b) Reserves & Surplus	(3.070)	(3.987)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	15.630	14.713
(3) Non-Current Liabilities
(a) Long-term borrowings	28.116	16.723
(b) Deferred tax liabilities (Net)	0.000	2.390
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.299	0.013
Total Non-current Liabilities (3)	28.415	19.126
(4) Current Liabilities
(a) Short term borrowings	0.000	17.681
(b) Trade payables	11.624	3.130
(c) Other current liabilities	31.247	4.732
(d) Short-term provisions	0.024	0.003
Total Current Liabilities (4)	42.895	25.546
TOTAL	86.940	59.385
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	62.229	48.227
(ii) Intangible Assets	1.012	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.121	0.010
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	63.362	48.237
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	5.839	2.402
(c) Trade receivables	6.855	0.188
(d) Cash and cash equivalents	2.284	6.718
(e) Short-term loans and advances	4.483	1.813
(f) Other current assets	4.117	0.027
Total Current Assets	23.578	11.148
TOTAL	86.940	59.385

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		TOTAL	80.113	0.632
Less	EXPENSES
		TOTAL	73.362	1.497
	PROFIT/ (LOSS) BEFORE FINANCE CHARGES AND DEPRECIATION		6.751	(0.865)
Less	FINANCIAL CHARGES AND DEPRECIATION		8.225	0.732
	PROFIT/ (LOSS) BEFORE TAX		(1.474)	(1.597)
Less	TAX		(2.391)	2.390
	PROFIT/ (LOSS) AFTER TAX		0.917	(3.987)
		Raw Materials	0.169	0.000
		Capital Goods	0.991	34.411
	TOTAL IMPORTS		1.160	34.411
	Earnings Per Share (Rs.)		0.49	(2.13)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013
Current Maturities of Long term Borrowings	7.948	1.264
Cash Generated from Operations	NA	0.898
Net Cash Flow from Operating Activities	NA	0.888

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	1.14	(630.85)
Operating Profit Margin (PBDIT/Sales)	(%)	8.43	(136.87)
Return on Total Assets (PBT/Total Assets}	(%)	(1.70)	(2.69)
Return on Investment (ROI) (PBT/Networth)		(0.09)	(0.11)
Debt Equity Ratio (Total Liability/Networth)		2.31	2.42
Current Ratio (Current Asset/Current Liability)		0.55	0.44

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	18.700	18.700
Reserves & Surplus	(3.987)	(3.070)
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	14.713	15.630
Long-term borrowings	16.723	28.116
Short term borrowings	17.681	0.000
CURRENT MATURITIES OF LONG-TERM BORROWINGS	1.264	7.948
Total borrowings	35.668	36.064
Debt/Equity ratio	2.424	2.307

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

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10384580	25/10/2012	86,300,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST , MUMBAI-400013, MAHARASHTRA, INDIA	B61417911

PERFORMANCE OF THE COMPANY:

During the financial year ended 31^st March, 2014, the Company achieved a total revenue Rs. 80.113 Million in the previous financial period ended 31^st March, 2013 and the Company registered a profit of Rs. 0.917 Million after tax as against a Loss of Rs. 3.987 in the previous financial period.

FIXED ASSETS:

Tangible Assets

· Electric Installations

· Tools and Equipment

· Plant and Equipment

· Furniture and Fixtures

· Office Equipment

· Computer Equipments

· Air Conditioner

Intangible Assets

· Computer Software

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. 63.89
UK Pound	1	Rs. 99.10
Euro	1	Rs. 70.12

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAS
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	--
--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.