MIRA INFORM REPORT

Report No. :	322684
Report Date :	03.06.2015

IDENTIFICATION DETAILS

Name :	DICON PRODUCTS PRIVATE LIMITED
Registered Office :	B-32, Milan Apartment, West Enclave, Pitampura, New Delhi - 110034
Tel. No.:	91-11-32443981/32021116
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.04.2011
Com. Reg. No.:	55-217283
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U29253DL2011PTC217283
IEC NO:	Not Available
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 :	Manufacturer, Exporter, Importer and Trader of vacuum pumps oil, direct drive vacuum pumps, belt drive vacuum pumps, oil lubricated vacuum pumps, mechanical booster pumps, vacuum gauges, rotary pump oil, S.S Bellows, KF Clamps etc.
No. of Employees :	20 (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

Maximum Credit Limit :	USD 3100
Status :	Small Business
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively small company in its field. Its scale of activities are limited. It is having a moderate track. However, trade relation are reported as fair, Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing 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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Sheetal
Designation :	Sales Co-ordinate
Contact No.:	91-8800699750
Date :	18.05.2015

LOCATIONS

Registered Office :	B-32, Milan Apartment, West Enclave, Pitampura, New Delhi - 110034, India
Tel. No.:	91-11-32021116
Mobile No.:	91-8800699750 (Ms. Sheetal)
Fax No.:	91-11-25480372
E-Mail :	diconproducts@rediffmail.com
Website :	http://wwww.diconproducts.in
Area :	1000 Sq.Ft.
Location :	Owned
Factory :	E-282, Sector-2, DSIDC, Bawana, New Delhi-110039, India
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Rajeev Choubey

Designation :

Director

Address :

B-32, Milan Apartment, West Enclave, Pitampura, New Delhi-110034, India

Date of Birth/Age :

09.05.1966

Date of Appointment :

08.04.2011

DIN No.:

03485361

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	U29253DL2011PTC217283	DICON PRODUCTS PRIVATE LIMITED	Director	08/04/2011	08/04/2011	-	Active	NO
2	U27100DL2011PTC225415	RAJMANI CASTINGS PRIVATE LIMITED	Director	22/09/2011	22/09/2011	-	Active	NO

Name :

Mr. Randeep Kakran

Designation :

Director

Address :

D-194, Raj Nagar-II, F Block, Near Neki Ram Public School 2, New Delhi-110045, India

Date of Birth/Age :

06.07.1977

Date of Appointment :

08.04.2011

DIN No.:

03485398

KEY EXECUTIVES

Name :	Ms. Sheetal
Designation :	Sales Co-ordinate

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Rajeev Choubey	9990	99.90
Randeep Kakran	10	0.10
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Importer and Trader of vacuum pumps oil, direct drive vacuum pumps, belt drive vacuum pumps, oil lubricated vacuum pumps, mechanical booster pumps, vacuum gauges, rotary pump oil, S.S Bellows, KF Clamps etc.
Products :	Direct Drive Vacuum Pumps Belt Drive Vacuum Pumps Oil Lubricated Vacuum Pumps Mechanical Booster Pumps Vacuum Gauges Rotary Pump Oil D.P. Oil Vacuum Components KF Clamps Non Return Valves Rubber Tubes Air Admittance cum Isolation Valves S.S. Bellows Genuine Spare Parts for Vacuum Pumps
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	Dubai
Imports :	Not Divulged
Terms :
Selling :	L/C
Purchasing :	L/C

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Doftel Vacuum Products
• Durga Iron Store
• Electro Sales
• Everest Blower Systems
• Everest Transmission
• First Flight Couriers Limited
• Gangu Ram Ram Kishan
• Gola Packers
• Hightech Engineers and Fabricators
• Hindustan Enterprises
• Lotus Engineering Company
• Mahak Steel Point
• Mittal Steel Udyog

Customers :

Retailers

• Amber Enterprises (India) Private Limited
• BPL Telecome Private Limited
• Chem Vac Engineers
• South India Trading Company
• Videocon Industries Limited (SJP)

No. of Employees :

20 (Approximately)

· Union Bank of India- C 4 Community Centre, SDA, New Delhi, Delhi - 110 
016, INDIA

· Punjab national Bank-New Delhi, india

Bankers :

Bank Name	HDFC Bank Limited
Branch	New Delhi, 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 :

Sunil Abbi and Associates

Chartered Accountants

Address :

CC-93D, Shalimar Bagh, Delhi – 110088, India

Mobile No.:

91-9313118639

E-Mail :

sunilabbi@yahoo.com

PAN N Income-tax PAN of auditor or auditor's firm :

AACPA2368M

Memberships :

Not Available

Collaborators :

Not Available

Sister Concern :

(As Confirm By Management)

Doftel Vacuum Products

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	0.993	0.598	0.260
(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)	1.093	0.698	0.360
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.001	0.003	0.000
(c) Other long term liabilities	0.201	0.508	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.202	0.511	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.547
(b) Trade payables	2.751	3.491	3.502
(c) Other current liabilities	1.451	1.579	1.226
(d) Short-term provisions	0.182	0.166	0.100
Total Current Liabilities (4)	4.384	5.236	5.375
TOTAL	5.679	6.445	5.735
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.693	0.772	0.850
(ii) Intangible Assets	0.011	0.012	0.013
(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	0.704	0.784	0.863
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.246	0.186	0.163
(c) Trade receivables	3.030	4.149	3.503
(d) Cash and cash equivalents	0.269	0.102	0.117
(e) Short-term loans and advances	1.430	1.224	0.888
(f) Other current assets	0.000		0.201
Total Current Assets	4.975	5.661	4.872
TOTAL	5.679	6.445	5.735

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue From Operation
		Other Income
		TOTAL	16.804	14.163	15.785
Less	EXPENSES
		Cost of Materials Consumed		0.024	0.000
		Purchases of Stock-in-Trade		6.816	8.828
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	NA	(0.023)	0.028
		Employees benefits expense		4.806	4.382
		Other expenses		1.889	2.052
		TOTAL		13.512	15.290
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		NA	0.651	0.495
Less	FINANCIAL EXPENSES		NA	0.000	0.000
Less/ Add	DEPRECIATION/ AMORTISATION		NA	0.144	0.136
	PROFIT/(LOSS) BEFORE TAX		6.329	0.507	0.359
Less	TAX		5.934	0.169	0.100
	PROFIT/(LOSS) AFTER TAX		0.395	0.338	0.259
	Earnings / (Loss) Per Share (Rs.)		39.51	33.88	2.59

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
Net Profit Margin (PAT / Sales)	(%)	2.49	2.48	1.64
Operating Profit Margin (PBIDT/Sales)	(%)	NA	4.77	3.14
Return on Total Assets (PBT/Total Assets}	(%)	111.45	7.87	6.26
Return on Investment (ROI) (PBT/Networth)		5.79	0.73	1.00
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	1.52
Current Ratio (Current Asset/Current Liability)		1.13	1.08	0.91

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	0.100	0.100	0.100
Reserves & Surplus	0.260	0.598	0.993
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.360	0.698	1.093
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.547	0.000	0.000
Total borrowings	0.547	0.000	0.000
Debt/Equity ratio	1.519	0.000	0.000

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	14.873	13.648	15.885
		(8.236)	16.391

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	14.873	13.648	15.885
Profit	0.259	0.338	0.395
	1.74%	2.48%	2.49%

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	Yes
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	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	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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10537775	24/09/2014	400,000.00	Union Bank of India	C 4 Community Centre, SDA, New Delhi, Delhi - 110  016, INDIA	C35411925

FIXED ASSETS

Tangible Assets

• Computer H/W
• Plant and Machinery
• Furniture and Fixture
• Car and Vehicles
• Cycle
• Mobile
• Desert Cooler
• Office Equipment

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 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.63.90
UK Pound	1	Rs.9816
Euro	1	Rs.69.73

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	SAN
Report Prepared by :	PJA

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
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	1
--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	YES
--AFFILIATION	YES/NO	YES
--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.