MIRA INFORM REPORT

Report No. :	325697
Report Date :	04.06.2015

IDENTIFICATION DETAILS

Name :	FC AGRAWAL COAL PRIVATE LIMITED
Registered Office :	103 B, Anmol Residency, Near Telephone Exchange, Near Om Tower, Ghoda Camp, Shahibaug, Ahmedabad – 380004, Gujarat
Tel. No.:	91-9879321912 (Mr. Pavan)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.08.2013
Com. Reg. No.:	04-076441
Capital Investment / Paid-up Capital :	Rs.25.000 Million
CIN No.: [Company Identification No.]	U10100GJ2013PTC076441
IEC No.:	0813014646
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCF2570P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Coal.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (26)

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 a relatively new private limited company established in the year 2013, having moderate track record. Mr. Pavan Agrawal (Director) Claimed that the company has started its operations after taking over business of M/s. Agrawal Coal Company along with all its assets and liabilities, further he claimed that operations of the company has started on 01.04.2013. Subject is a trader and importer of Coal. Company has recorded low profitability in its first year of operations. Reserves of the company seems to be low. Company has recorded huge external borrowings. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for the 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. Pavan Agrawal
Designation :	Director
Contact No.:	91-9879321912
Date :	02.06.2015

LOCATIONS

Registered Office :	103 B, Anmol Residency, Near Telephone Exchange, Near Om Tower, Ghoda Camp, Shahibaug, Ahmedabad – 380004, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9879321912 (Mr. Pavan)
Fax No.:	Not Available
E-Mail :	agrawalshyam2004@yahoo.com imports.agrawalcoal@gmail.com fdagrawal@yahoo.co.in
Website :	www.agrawalcoalcompany.in www.fcagrawal.com
Location :	Owned

DIRECTORS

As on 28.09.2014

Name :	Mr. Fakirchand Damodardas Agrawal
Designation :	Director
Address :	A-1, Maruti Bunglows, Near Samved Tower, Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat, India
Date of Birth/Age :	08.03.1954
Date of Appointment :	14.08.2013
DIN No.:	06632396
Name :	Mr. Pavan Fakirchand Agrawal
Designation :	Director
Address :	A-1, Maruti Bunglows, Near Samved Tower, Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat, India
Date of Birth/Age :	09.03.1979
Date of Appointment :	14.08.2013
DIN No.:	06632008
Name :	Mr. Sushil Fakirchand Agrawal
Designation :	Director
Address :	A-1, Maruti Bunglows, Near Samved Tower, Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat, India
Date of Birth/Age :	11.09.1974
Date of Appointment :	14.08.2013
DIN No.:	06632022
Name :	Mr. Shyamsunder Fakirchand Agrawal
Designation :	Director
Address :	A-1, Maruti Bunglows, Near Samved Tower, Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat, India
Date of Birth/Age :	14.09.1975
Date of Appointment :	14.08.2013
DIN No.:	06632015

MAJOR SHAREHOLDERS

As on 28.09.2014

Names of Shareholders	No. of Shares	%age holding
Fakirchand Agrawal	2000000	80.00
Pavan Agrawal	225000	9.00
Shyamsunder Agrawal	225000	9.00
Sushil Agrawal	50000	2.00
Total	2500000	100.00

As on 28.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Coal.
Products :	Coal
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Coal
Countries :	Singapore China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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 :

Others

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 :

Information declined by the management.

Bankers :

Banker Name	HDFC Bank Limited
Branch Address	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 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)

	As on 31.03.2014
LONG TERM BORROWING	F C Agrawal Coal Private Limited	Agrawal Coal Company	Total
SECURED LOAN
Term Loan
Rupee Loans
HDFC Bank Limited: 04012790000129	0.000	12.095
Buyers Credit Payable HDFC	220.776	(87.883)
LC – HDFC Bank Payable	86.608	0.000
LC - Foreign	0.000	(86.607)
Total	307.384	(162.395)	144.989

Auditors :
Name :	Khandar and Associates Chartered Accountants
Address :	311, Dhiraj Avenue, Opposite Chhadawad Police, Chowky, Ambawadi, Ahmedabad – 380006, Gujarat, India
PAN No.:	AAHFK2126N
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	25.000
(b) Reserves & Surplus	3.577
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	28.577
(3) Non-Current Liabilities
(a) long-term borrowings	453.877
(b) Deferred tax liabilities (Net)	0.028
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	453.905
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	33.745
(c) Other current liabilities	0.000
(d) Short-term provisions	8.370
Total Current Liabilities (4)	42.115
TOTAL	524.597
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.227
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	87.185
(e) Other Non-current assets	0.000
Total Non-Current Assets	88.412
(2) Current assets
(a) Current investments	0.000
(b) Inventories	107.493
(c) Trade receivables	274.686
(d) Cash and cash equivalents	16.372
(e) Short-term loans and advances	23.293
(f) Other current assets	14.341
Total Current Assets	436.185
TOTAL	524.597

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	SALES
	Income	774.554
	Other Income	32.806
	TOTAL	807.360
Less	EXPENSES
	Cost of Materials Consumed	618.540
	Employees benefits expense	3.150
	Other expenses	147.242
	TOTAL	768.932
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	38.428
Less	FINANCIAL EXPENSES	32.859
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	5.569
Less/ Add	DEPRECIATION/ AMORTISATION	0.165
	PROFIT/ (LOSS) BEFORE TAX	5.404
Less	TAX	1.828
	PROFIT/ (LOSS) AFTER TAX	3.576
	Earnings / (Loss) Per Share (Rs.)	1.4304

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014
Current Maturities of Long term debt	NA
Cash generated from operations	NA

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Sales)	(%)	0.46
Operating Profit Margin (PBDIT / Sales)	(%)	4.96
Return on Total Assets (PBT/Total Assets}	(%)	1.03
Return on Investment (ROI) (PBT/Networth)		0.19
Debt Equity Ratio (Total Debt/Networth)		15.88
Current Ratio (Current Asset/Current Liability)		10.36

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	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	No
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 one year	Yes
27	Reasons for variation <> 20%	----------------------
28	Estimation for coming financial year	No
29	Profitability for last one year	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

OPERATIONS

Being first year of its incorporation, the company has taken over the business along with all its assets and liabilities of M/s. Agrawal Coal Company – Proprietor Shri Fakirchand Agrawal and the performance of the company of the company is noteworthy. The net profit of the company after taxation is Rs.3.576 Million. The Directors are striving hard by making more sincere efforts for better growth and prospects of the company in future and to yield better returns for the members of the company.

UNSECURED LOAN

(Rs. In Million)

LONG TERM BORROWING	F C Agrawal Coal Private Limited	Agrawal Coal Company	Total
UNSECURED LOAN
Term Loan
From Directors and Relatives	432.066	(149.835)
Fakirchand D. Agrawal (Transfer Entries	18.699	0.000
FC Agrawal Coal Private Limited	0.000	7.823
Fakirchand D. Agrawal	0.000	0.135
Total	450.765	(141.877)	308.888

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10549879	19/02/2015	80,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013, INDIA	C43954197
2	10471102	15/01/2014	700,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013, INDIA	B93854883

* Date of charge modification

FIXED ASSETS

• Furniture
• Air Conditioner
• Mobile Phone
• Computer
• Fax Machine
• Motor Car

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 :	RKH
Analysis Done by :	KIL
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.