MIRA INFORM REPORT

Report No. :	325015
Report Date :	02.06.2015

IDENTIFICATION DETAILS

Name :	Z-TECH (INDIA) PRIVATE LIMITED
Registered Office :	S – 29, First Floor, Okhla Industrial Area, Phase – II, New Delhi – 110020, Delhi
Tel. No.:	91-11-26383931/ 2/ 3
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.11.1994
Com. Reg. No.:	55-062582
Capital Investment / Paid-up Capital :	Rs 2.350 Million
CIN No.: [Company Identification No.]	U74899DL1994PTC062582
IEC No.:	0595024211
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 engaged is providing services related to Construction and Maintenance of Road and Bridges.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 66000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is established company incorporate in November 1994 and it is having satisfactory track record. From the financial 2014, company has reported top line growth in sales at 21.5% backed by its long established history of business operation. Trade relations are fair. Business is active and payments terms are reported to be usually correct. The company can be considered for the business dealings on 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

NOT AVAILABLE

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED BY

Name :	Mr. Amit Roy
Contact No.:	91-11-26393930
Date :	30.05.2015

LOCATIONS

Registered Office :	S – 29, First Floor, Okhla Industrial Area, Phase – II, New Delhi – 110020, Delhi, India
Tel. No.:	91-11-26383931/ 2/ 3
Fax No.:	91-11-26383934
E-Mail :	ajayrana@agarwaljetley.com pcgodiyal@ztech-india.com ztech@airtelmail.in
Website :	www.ztech-india.com
Branch Offices :	Located at: · Navi Mumbai Chennai Kolkata Ahmedabad

DIRECTORS

AS ON 26.09.2014

Name :

Mr. Amal Kumar Sen

Designation :

Director

Address :

D-665, Chittaranjan Park, New Delhi-110019, Delhi, India

Date of Birth/Age :

31.12.1941

Date of Appointment :

11.11.1994

DIN No.:

00847999

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	Company/ LLP Status	Defaulting status
1	U74899DL1994PTC062582	Z-TECH (INDIA) PRIVATE LIMITED	Director	11-11-1994	11-11-1994	Active	NO
2	U74210DL2006PTC146897	Z-TECH ENGINEERING SERVICES PRIVATE LIMITED	Director	28-02-2006	28-02-2006	Active	NO

Name :

Mrs. Sumita Sen

Designation :

Director

Address :

D-665, Chittaranjan Park, New Delhi-110019, Delhi, India

Date of Birth/Age :

07.10.1946

Date of Appointment :

01.04.2002

DIN No.:

0084030

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	Company/ LLP Status	Defaulting status
1	U74899DL1994PTC062582	Z-TECH (INDIA) PRIVATE LIMITED	Director	01-04-2002	01-04-2002	Active	NO
2	U74210DL2006PTC146897	Z-TECH ENGINEERING SERVICES PRIVATE LIMITED	Director	28-02-2006	28-02-2006	Active	NO

Name :

Mr. Sourav Sen

Designation :

Director

Address :

Sylvan Heights FL 1001, Resi 3-Phase, S NO 128, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

06.09.1969

Date of Appointment :

01.12.2004

DIN No.:

00362133

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Amal Kumar Sen	214961	91.49
Sumita Sen	20000	8.51
Total	234961	100.00

AS ON 26.09.2014

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

BUSINESS DETAILS

Line of Business :	Subject is engaged is providing services related to Construction and Maintenance of Road and Bridges.
Products :	--
Brand Names :	---
Agencies Held :	--
Exports :
Products :	Not Divulged
Countries :	Not Divulged
Imports :
Products :	Not Divulged
Countries :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	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 House, Senapati 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

· Bank of Bhutan

Corporation Bank

Federal Bank

Oriental Bank of Commerce

State Bank of India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
HDFC-Car Loan A/c-Delhi	0.344	0.561
HDFC-Car Loan A/c-Kolkata	0.000	0.165
Total	0.344	0.726

Banking Relations :	--
Auditors :
Name :	V S P V and Company Chartered Accountants
Address :	A-2/78, Safdarjung Enclave, New Delhi-110029, Delhi, India
Tel. No.:	91-11-26169814/ 26162613
E-Mail :	info-delhi@vspv.in
Pan No:	AAAFA6605R
Memberships :	Not Available
Collaborators :	Not Available
Enterprises Under Common Control :	Z-Tech Engineering Services Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
234961	Equity Shares	Rs.10/- each	Rs. 2.350 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	2.350	2.350	2.350
(b) Reserves & Surplus	20.840	20.517	20.348
(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)	23.190	22.867	22.698
(3) Non-Current Liabilities
(a) Long-term borrowings	2.241	2.382	1.124
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.330	6.024	5.649
Total Non-current Liabilities (3)	8.571	8.406	6.773
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	12.907	18.324	20.691
(c) Other current liabilities	6.376	5.243	10.129
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	19.283	23.567	30.820
TOTAL	51.044	54.840	60.291
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.137	3.596	4.403
(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)	0.097	0.153	0.228
(d) Long-term Loan and Advances	2.504	1.881	1.540
(e) Other Non-current assets	2.610	2.306	2.740
Total Non-Current Assets	8.348	7.936	8.911
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.860	10.482	4.691
(c) Trade receivables	21.333	21.874	22.225
(d) Cash and cash equivalents	11.398	11.769	22.999
(e) Short-term loans and advances	4.105	2.779	1.465
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	42.696	46.904	51.380
TOTAL	51.044	54.840	60.291

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	88.942	73.303	114.509
Less	EXPENSES
		TOTAL	87.419	71.848	111.351
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.301	1.455	3.158
Less/ Add	DEPRECIATION/ AMORTISATION		0.705	0.880	1.144
	PROFIT BEFORE TAX		0.596	0.575	2.014
Less	TAX		0.273	0.405	0.299
	PROFIT AFTER TAX		0.323	0.170	1.715
	Earnings Per Share (Rs.)		1.38	0.72	7.30

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
Return on Total Assets (PBT/Total Assets}	(%)	1.17	1.05	3.35
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.09
Debt Equity Ratio (Total Liability/Networth)		0.10	0.10	0.05
Current Ratio (Current Asset/Current Liability)		2.21	1.99	1.67

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	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2.350	2.350	2.350
Reserves & Surplus	20.348	20.517	20.840
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	22.698	22.867	23.190
Long-term borrowings	1.124	2.382	2.241
Short term borrowings	0.000	0.000	0.000
Total borrowings	1.124	2.382	2.241
Debt/Equity ratio	0.050	0.104	0.097

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)
Total Income	114.509	73.303	88.942
		(35.985)	21.335

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	114.509	73.303	88.942
Profit	1.715	0.170	0.323
	1.50%	0.23%	0.36%

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	No
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	10210022	08/03/2010	5,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST , MUMBAI- 400013, MAHARASHTRA, INDIA	A82333774

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
HDFC Bank O/D	1.897	1.656
Total	1.897	1.656

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from D-665, Chittaranjan Park, New Delhi-110019, Delhi, India to the present address w.e.f 01.05.2007

CONTINGENT LIABILITIES: (As On 31.03.2014)

The directors of the company confirms that all the known liabilities have been provided for and there is no liability in the contingent nature.

The company had recreceived letter of demand from Sales Tax Department amounting Rs. 2.656 Million . Out of which Rs. 1.273 million had been paid and provision for Rs. 1.384 million had been made which has been reflected in Long Term Provision.

FIXED ASSETS:

· Office Equipments

Furniture and Fixture

Computers

Moulds

Plant and Machinery

Motor vehicles

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. 63.61
UK Pound	1	Rs. 97.27
Euro	1	Rs. 69.63

INFORMATION DETAILS

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

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
--PROFITABILIRY	1~10	5
--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	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		45

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.