MIRA INFORM REPORT

Report No. :	325313
Report Date :	04.06.2015

IDENTIFICATION DETAILS

Name :	EMINENCE EQUIPMENTS PRIVATE LIMITED
Registered Office :	Gat No. 343, Plot No. 27 to 32, Near Hindustan Petroleum Limited, Village Mahalunge, Pune – 410501, Maharashtra
Tel. No.:	91-2135-677100
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.05.2005
Com. Reg. No.:	11-020672
Capital Investment / Paid-up Capital :	Rs. 23.349 Million
CIN No.: [Company Identification No.]	U29299PN2005PTC020672
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCE4649K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Agricultural machines and equipments, Grain feeder, Grain feed controllers, Grain Divertors, Grain Pouch.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (57)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 800000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established private limited company incorporated in the year 2005, having good track record. Sales turnover of the company has increased to Rs. 509.475 Million in FY14 as compare to Rs. 370.884 Million in FY13. The company has recorded continuous growth in its profitability since last 3 years. Overall financials of the company seems to be strong. Trade relations are fair. Business is active. Payment terms are regular. The company can be considered for business dealings at 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

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) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Mukund Kahode
Designation :	CEO
Contact No.:	91-9822620106
Date :	02.06.2015

LOCATIONS

Registered Office :	Gat No. 343, Plot No. 27 to 32, Near Hindustan Petroleum Limited, Village Mahalunge, Pune – 410501, Maharashtra, India
Tel. No.:	91-2135-677100
Mobile No.:	91-9822620106 (Mr. Mukund Kahade)
Fax No.:	91-2135-677114/13
E-Mail :	siddharth@eminenceequipments.com makarend@eminenceequipments.com
Website :	http://www.eminenceequipments.com

DIRECTORS

AS ON 30.09.2014

Name :

Mrs. Leena Makarand Savagaonkar

Designation :

Director

Address :

Flat 601, Deshpande Durg, S. No. 132, B6 CTS, 2715/17 S Nagar, Pune – 411007, Maharashtra, India

Date of Birth/Age :

14.08.1968

Date of Appointment :

03.05.2005

DIN No.:

00773569

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	U29299PN2005PTC020672	EMINENCE EQUIPMENTS PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Active	NO
2	U74999PN2013PTC148437	MAKLEE INVESTMENTS PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
3	U74999PN2007PTC130325	SIDDHIVINAYAK AESTHETICS PRIVATE LIMITED	Director	14/09/2013	14/09/2013	16/11/2014	Active	NO

Name :

Mr. Siddharth Navinchandra Kokate

Designation :

Director

Address :

Rohan Nilay, F Building, Flat No. 803, Anudh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

14.08.1979

Date of Appointment :

03.05.2005

DIN No.:

00406679

Name :

Mrs. Geeta Mukund Kabade

Designation :

Director

Address :

Flat No. 203, G Building, Nirupam Akurdi, Pune – 411035, Maharashtra, India

Date of Birth/Age :

17.12.1972

Date of Appointment :

03.05.2005

DIN No.:

00406512

Name :

Mr. Makarand Sajjan Savagaonkar

Designation :

Director

Address :

Flat 601, Deshpande Durg, ICS Colony, Bhosale Nagar, Pune – 411007, Maharashtra, India

Date of Birth/Age :

28.08.1968

Date of Appointment :

22.02.2006

DIN No.:

00773753

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	U29299PN2005PTC020672	EMINENCE EQUIPMENTS PRIVATE LIMITED	Director	22/02/2006	22/02/2006	-	Active	NO
2	U45209PN2012PTC142533	SHRI VENKATESHWARA UNICON PRIVATE LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO
3	U74999PN2013PTC148437	MAKLEE INVESTMENTS PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
4	U74999PN2007PTC130325	SIDDHIVINAYAK AESTHETICS PRIVATE LIMITED	Director	14/09/2013	14/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mukund Kahode
Designation :	CEO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holdings
Leena Makarand Savagaonkar	99140	42.46
Siddharth Navinchandra Kokate	48570	20.80
Geeta Mukund Kabade	50248	21.52
Makarand Sajjan Savagaonkar	33528	14.36
Gaurav Makarand Savagaonkar	1000	0.43
Ameya Pranay Shah	1000	0.43
Total	233486	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 of Agricultural machines and equipments, Grain feeder, Grain feed controllers, Grain Divertors, Grain Pouch
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Bangladesh
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash and Credit (30/60/90 days)
Purchasing :	Cash and Credit (30/60/90 days)

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

60 (Approximately)

Bankers :

Banker Name	IDBI Bank Limited
Branch Address	F C Road, Shivaji Nagar, Pune, 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 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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from SIDBI	10.200	18.000
Vehicle loan from financial institution	0.000	1.189
SHORT TERM BORROWING
Term loan from bank	6.600	4.200
Vehicle loan from financial institution	1.183	1.351
Total	17.983	24.740

Financial Institution :	Small Industries Development Bank of India, Jeevan Shree Building, Ground Floor, S. No. 1109, Plot No. 488, Ganeshkhind Road, Pune – 411005, Maharashtra, India
Auditors :
Name :	Asmeet Shah and Company Chartered Accountant
Address :	Punyai, Sector 28, Plot No. 128, Opposite CMS English Medium School, Nigdi, Pune – 411044, Maharashtra, India
PAN No.:	APXPS3963C
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
475000	Equity Shares	Rs.100/- each	Rs. 47.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
233486	Equity Shares	Rs.100/- each	Rs. 23.349 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	23.349	23.349	23.349
(b) Reserves & Surplus	287.679	210.944	161.241
(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)	311.028	234.293	184.590
(3) Non-Current Liabilities
(a) long-term borrowings	10.200	19.189	22.412
(b) Deferred tax liabilities (Net)	4.133	5.577	6.796
(c) Other long term liabilities	12.501	11.813	11.412
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	26.834	36.579	40.620
(4) Current Liabilities
(a) Short term borrowings	7.783	5.551	4.525
(b) Trade payables	14.240	2.719	19.191
(c) Other current liabilities	35.834	30.911	16.769
(d) Short-term provisions	8.672	7.400	28.951
Total Current Liabilities (4)	66.529	46.581	69.436
TOTAL	404.391	317.453	294.646
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	178.011	121.147	55.702
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.091	0.091	47.555
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	80.671	71.600	37.634
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	62.593	27.270	62.840
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	321.366	220.108	203.731
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	39.760	53.206	36.999
(c) Trade receivables	15.102	12.168	33.086
(d) Cash and cash equivalents	24.053	29.202	18.850
(e) Short-term loans and advances	3.724	2.011	0.952
(f) Other current assets	0.386	0.758	1.028
Total Current Assets	83.025	97.345	90.915
TOTAL	404.391	317.453	294.646

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	509.474	370.883	375.965
Less	EXPENSES
		TOTAL	384.636	289.722	300.722
	PROFIT BEFORE TAX		124.838	81.161	75.243
Less	TAX		39.908	24.675	23.093
	PROFIT AFTER TAX		84.930	56.486	52.150
	Earnings Per Share (Rs.)		363.75	241.92	223.35

Expected Sales (2014-15): Rs. 700.000 Million

The above information has been parted by Mr. Mukund Kahade (CEO).

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 / Total Income)	(%)	16.67	65.23	13.87
Return on Total Assets (PBT/Total Assets}	(%)	38.57	33.02	35.92
Return on Investment (ROI) (PBT/Networth)		0.40	0.35	0.41
Debt Equity Ratio (Total Debt /Networth)		0.06	0.11	0.15
Current Ratio (Current Asset/Current Liability)		1.25	2.09	1.31

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	23.349	23.349	23.349
Reserves & Surplus	161.241	210.944	287.679
Share Application money pending allotment	0.000	0.000	0.000
Net worth	184.590	234.293	311.028
long-term borrowings	22.412	19.189	10.200
Short term borrowings	4.525	5.551	7.783
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	26.937	24.740	17.983
Debt/Equity ratio	0.146	0.106	0.058

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	375.965	370.883	509.474
		(1.352)	37.368

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	375.965	370.883	509.474
Profit	52.150	56.486	84.930
	13.87%	15.23%	16.67%

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	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	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	10314252	05/09/2011	10,000,000.00	IDBI Bank Limited	IDBI House, 4th Floor, Dnyaneshwar Paduka Chowk, F C Road, Shivajinagar, PUNE, Maharashtra - 411004, INDIA	B23962905
2	10314241	05/09/2011	25,000,000.00	IDBI Bank Limited	IDBI House, 4th Floor, Dnyaneshwar Paduka Chowk, F C Road, Shivajinagar, PUNE, Maharashtra - 411004, INDIA	B23960313
3	10204228	23/11/2010 *	30,000,000.00	SMALL INDUSTRIAL DEVELOPMENT BANK OF INDIA	JEEVAN SHREE BUILDING, GR FLOOR, S. NO. 1109, PLOT NO. 488, GANESHKHIND ROAD, SHIVAJI NAGAR, PUNE,  Maharashtra - 411004, INDIA	B00191585
4	10060695	17/07/2014 *	30,000,000.00	Small Industries Development Bank of India	Jeevan Shree Building,Ground Floor,S.No.1109,Plot,  No.488,Ganeshkhind Road,Near Pune Central Mall, Pune, Maharashtra - 411016, INDIA	C12425138

* Date of charge modification

FIXED ASSETS

• Leasehold Land
• Tools and Equipments
• Plant and Machinery
• Vehicle
• Furniture and Fixture
• Factory Equipments
• Office Equipments
• Computer

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. 63.85
UK Pound	1	Rs. 98.12
Euro	1	Rs. 71.28

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KIN
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		57

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.