MIRA INFORM REPORT

Report No. :	334107
Report Date :	30.07.2015

IDENTIFICATION DETAILS

Name :	GRAVITAS ENTERPRISES PRIVATE LIMITED
Registered Office :	462, Sector-15A, Faridabad – 121007, Haryana
Tel. No.:	91-129-2307033/ 96/ 97/ 98
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.12.1988
Com. Reg. No.:	05-033345
Capital Investment / Paid-up Capital :	Rs. 3.760 Million
CIN No.: [Company Identification No.]	U35999HR1988PTC033345
IEC No.:	0507006801
TAN No.: [Tax Deduction & Collection Account No.]	RTKG04695F
PAN No.: [Permanent Account No.]	AAACG3073G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Fabrication Items and Air Compressors Products.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Rating is constrained on account of company’s moderate financial risk profile marked by modest networth along with huge borrowings and leverage balance sheet profile of the company. However, trade relations are reported as fair. Payments are reported to be slow but correct. In view of leverage balance sheet profile, 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

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. Sanjeev Gupta
Designation :	Director
Contact No.:	91-9811102332
Date :	29.07.2015

LOCATIONS

Registered Office :	462, Sector-15A, Faridabad – 121007, Haryana, India
Tel. No.:	Not Available
Mobile No.:	91-9811102332 (Mr. Sanjeev Gupta)
Fax No.:	Not Available
E-Mail :	gravitas60@gmail.com
Website :	http://www.gravitas.co.in
Location :	Owned
Factory 1 :	Plot No. 60, Sector - 59, HSIIDC Industrial Estate, Ballabhgarh, Faridabad – 121004, Haryana, India
Tel. No.:	91-129-2307033/ 96/ 97/ 98
Factory 2 :	Plot No. 61, Sector - 59, HSIIDC Industrial Estate, Ballabhgarh, Faridabad – 121004, Haryana, India
Factory 3 :	Tatarpur, District Palval, Haryana, India

DIRECTORS

AS ON 20.09.2014

Name :	Mr. Sanjeev Gupta
Designation :	Director
Address :	House No. 462, Sector 15A, Faridabad – 121007, Haryana, India
Date of Birth/Age :	12.04.1962
Date of Appointment :	22.03.1999
DIN No.:	00847728
Name :	Mr. Rajeev Gupta
Designation :	Director
Address :	House No. 462, Sector 15A, Faridabad – 121007, Haryana, India
Date of Birth/Age :	22.09.1965
Date of Appointment :	16.10.1996
DIN No.:	00847743

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.09.2014

Names of Shareholders	No. of Shares
Rajeev Gupta	112000
Rashi Gupta	14000
Sanjeev Gupta	112000
Shail Gupta	14000
Sanjeev Gupta HUF	42532
Satya Prakash Gupta	600
Kamal Prakash Gupta	600
Satya Prakash Gupta HUF	37736
Rajeev Gupta HUF	42532
Total	376000

AS ON 20.09.2014

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

BUSINESS DETAILS

Line of Business :	Manufacturer of Fabrication Items and Air Compressors Products.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	Raw Material
Countries :	Belgium
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Jyoti Strips Private Limited, Faridabad
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 :

Wholesalers, Retailers and Manufacturer

Reference:	Metso Minerals India Private Limited, Gurgaon
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 :

80 (Approximately)

Bankers :

Bank Name:	State Bank of Hyderabad
Branch:	1st Floor, 27, Nelam Bata Road, Faridabad - 121001, Haryana, 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

· Kotak Mahindra Bank Limited

5 E-1 NIT, Ground Floor, Railway Road, Faridabad - 121001, Haryana, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Term Loans From Bank	2.498	0.634
From Promoters and Associates	15.559	12.940
State Bank of Hyderabad (T. Loan)	5.496	0.000
SHORT TERM BORROWINGS
Other Loans and advances from customers	0.857	1.606
Bank loans State Bank of Hyderabad (CC)	45.487	34.513
State Bank of Hyderabad (LC)	16.016	15.787
Total	85.913	65.480

Banking Relations :	--
Auditors :
Name :	Santosh Gupta and Company Chartered Accountants
Address :	SCF-30P, Part-1 Market, Sector-16A, Faridabad – 121002, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AAQFS1038Q
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs. 10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
376,000	Equity Shares	Rs. 10/- each	Rs. 3.760 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	3.760	3.760	2.820
(b) Reserves & Surplus	6.759	5.810	5.802
(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)	10.519	9.570	8.622
(3) Non-Current Liabilities
(a) Long-term borrowings	23.553	13.574	11.650
(b) Deferred tax liabilities (Net)	2.066	1.789	1.672
(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)	25.619	15.363	13.322
(4) Current Liabilities
(a) Short term borrowings	62.360	51.906	40.429
(b) Trade payables	8.695	5.843	7.433
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	1.339	2.125	4.268
Total Current Liabilities (4)	72.394	59.874	52.130
TOTAL	108.532	84.807	74.074
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22.024	15.112	13.742
(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	0.922	0.535	0.801
Total Non-Current Assets	22.946	15.647	14.543
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	46.925	37.793	30.143
(c) Trade receivables	28.821	21.844	20.432
(d) Cash and cash equivalents	0.077	0.241	0.198
(e) Short-term loans and advances	9.763	9.282	8.758
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	85.586	69.160	59.531
TOTAL	108.532	84.807	74.074

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	135.000 [Approx.]	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		0.949	0.948	0.747
	Earnings Per Share (Rs.)		2.52	2.52	2.65

PARTICULARS	31.03.2016	31.03.2015
Sales Turnover (Approximately)	170.000	150.000

The above information has been parted by Mr. Sanjeev Gupta (Director)

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
Net Cash flow from (used in) Operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Liability/Networth)	8.17	6.84	6.04
Current Ratio (Current Asset/Current Liability)	1.18	1.16	1.14

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

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2.820	3.760	3.760
Reserves & Surplus	5.802	5.810	6.759
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	8.622	9.570	10.519
Long-term borrowings	11.650	13.574	23.553
Short term borrowings	40.429	51.906	62.360
Total borrowings	52.079	65.480	85.913
Debt/Equity ratio	6.040	6.842	8.167

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
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 one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10367163	29/11/2014 *	67,000,000.00	STATE BANK OF HYDERABAD	27, CROWN PLAZA, NEELAM BATA ROAD, FARIDABAD, HARYANA - 121001, INDIA	C38940755

* Date of charge modification

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 governmen 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. 99.71
Euro	1	Rs. 70.63

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.