MIRA INFORM REPORT

Report No. :	323219
Report Date :	05.06.2015

IDENTIFICATION DETAILS

Name :	MACHINE HOUSE (INDIA) PRIVATE LIMITED (w.e.f 25.02.2009)
Formerly Known As :	METAL CRAFT TOOLINGS PRIVATE LIMITED
Registered Office :	W-82 (A), M.I.D.C. Ambad, Nashik - 422010, Maharashtra
Tel. No.:	91-253-2307662/6512439/2382255
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.08.2005
Com. Reg. No.:	11-155715
Capital Investment / Paid-up Capital :	Rs. 15.000 Million
CIN No.: [Company Identification No.]	U28900MH2005PTC155715
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
IEC No.:	3109016290
PAN No.: [Permanent Account No.]	AAFCM2487HFT001
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Exporter of Anti vibration mounts, Anti vibration flexible mounts, Anti vibration pads, Anti vibration shock mounts, Anti vibration mounting etc.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. For the financial year 2013-2014, the company record Rs. 129.200 Million sales turnover and reported 12.71% top line growth. Further company has shown the profitability margin of 4.37% backed by debt to equity ratio of 0.317 times. Rating take into account of company established track record of its business operations backed by its healthy financial position. Trade relation are fair. Business is active. Payment terms are reported to be usually correct. Company can be considered for the 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) 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 :	Mr. Chetan Arun Sawant
Designation :	Director
Contact No.:	91-9096003430
Date :	19.05.2015

LOCATIONS

Registered Office /Factory :	W-82 (A), M.I.D.C. Ambad, Nashik - 422010, Maharashtra, India
Tel. No.:	91-253-2307662/6512439/2382255
Mobile No.:	91-9096003430 (Mr. Chetan)
Fax No.:	91-253-2386024
Email:	ntahire@gmail.com bilzindia@gmail.com info@antivibrations.com
Website:	www.antivibrations.com
Location :	Owned
Locality:	Industrial
Corporate Office :	D1/18, M.I.D.C., Ambad, Nashik - 422010, Maharashtra, India

DIRECTORS

As on 30.09.2014

Name :

Mrs. Sucheta Nishikant Ahire

Designation :

Director

Address :

Nathganga, Near S.T. Colony, Gangapur Road, Nashik - 422013, Maharashtra, India

Date of Birth/Age :

27.07.1961

Date of Appointment :

29.08.2005

DIN No.:

00123041

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	U29220MH1992PTC064743	AHIRE MACHINE TOOLS PRIVATE LIMITED	Director	06/01/1992	06/01/1992	-	Active	NO
2	U28900MH2005PTC155715	MACHINE HOUSE (INDIA) PRIVATE LIMITED	Director	29/08/2005	29/08/2005	-	Active	NO
3	U31001MH1992PTC065287	MARUT ENERGY EQUIPMENTS PRIVATE LIMITED	Director	20/09/2013	01/06/2013	-	Active	NO

Name :

Mr. Nishikant Tulsiram Ahire

Designation :

Director

Address :

D 1, Ishan, Serene Meadows, Anandvalli, Angapur road, Nashik - 422013, Maharashtra, India

Date of Birth/Age :

11.09.1956

Date of Appointment :

29.08.2005

DIN No.:

00354722

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	U29220MH1992PTC064743	AHIRE MACHINE TOOLS PRIVATE LIMITED	Director	06/01/1992	06/01/1992	-	Active	NO
2	U31001MH1992PTC065287	MARUT ENERGY EQUIPMENTS PRIVATE LIMITED	Director	01/12/2002	01/12/2002	-	Active	NO
3	U28900MH2005PTC155715	MACHINE HOUSE (INDIA) PRIVATE LIMITED	Director	29/08/2005	29/08/2005	-	Active	NO

Name :

Mrs. Abhilasha Nishikant Ahire

Designation :

Director

Address :

Nathganga, Near Shramik Colony, Gangapur Road, Nashik - 422013, Maharashtra, India

Date of Birth/Age :

12.10.1984

Date of Appointment :

29.03.2010

DIN No.:

01067076

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	U31001MH1992PTC065287	MARUT ENERGY EQUIPMENTS PRIVATE LIMITED	Director	30/10/2006	30/10/2006	-	Active	NO
2	U28900MH2005PTC155715	MACHINE HOUSE (INDIA) PRIVATE LIMITED	Director	29/03/2010	29/03/2010	-	Active	NO

Name :

Mr. Chetan Arun Sawant

Designation :

Director

Address :

Deoganga 9, Suyog Colony near Kamgar Nagar, Nashik - 422013, Maharashtra, India

Date of Birth/Age :

25.05.1984

Date of Appointment :

21.09.2013

DIN No.:

06511219

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Nishikant Tulsiram Ahire	1495000	99.67
Sucheta Nishikant Ahire	5000	0.33
Total	1500000	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, Trader and Exporter of Anti vibration mounts, Anti vibration flexible mounts, Anti vibration pads, Anti vibration shock mounts, Anti vibration mounting etc.
Products :	Bilz Anti Vibration Mounts o Insulating Plates o Leveling Feet/ Elements o Precision Leveling Wedges o FAEBI Rubber Air Springs 5 Hz o Membrance Air Springs o Membrance Air Springs Mounts o Active Isolation System (AIS) o Vibration Isolated Table Top Platforms (VITAP) o Insulated Tables/Platforms o Isolated Machine Foundations o Vibration Measurement AMT Anti Vibration Mounts o AMT Neoprene Mounts o AMT Machine Leveler
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Countries :	Germany Middle East
Imports :
Countries :	Europe Germany
Terms :
Selling :	Cash, Advance Payment and Cheque
Purchasing :	Cash, Advance Payment and Cheque

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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

No. of Employees :

70 (Approximately) )

Bankers :

Bank Name	Bank of Maharashtra
Branch	Nashik - 422013, 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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Bank of Maharashtra Loan A/c No. 2359 (For Vehicle No. 5953)	0.000	0.157
Bank of Maharashtra Loan A/c No. 4998 (For Vehicle No. 1680)	0.462	0.729
Bank of Maharashtra Loan A/c No. 1427 (For Vehicle No.3461 and 3462)	0.148	0.487
Bank of Maharashtra Loan A/c No. 149 (For Vehicle No.5740)	0.358	0.000
Volkswagen Ato Finance Loan A/c No. 7617 (For Vehicle No. 15133)	0.441	0.000
Short-term borrowings
Bank of Maharashtra - Cash Credit	(0.581)	0.924
Bank of Maharashtra Preshipment Credit 3932	0.000	3.003
Bank of Maharashtra Preshipment Credit 7711	4.741	0.000
Bank of Maharashtra Preshipment Credit 2243	3.018	0.000
Bank of Maharashtra LAD A/c- 8501	1.073	0.963
Bank of Maharashtra Loan Against RD/FD	1.665	1.503
Total	11.325	7.766

Auditors :
Name :	HMA and Associates Chartered Accountants
Address :	7 sumedh Apartments Mahatma Nagar, Plot No. 44 Road A, Nashik - 422005, Maharashtra, India
Tel. No.:	91-253-2360213
E-Mail :	nashik@hmaca.in
Wbesite:	www.hmaca,in
PAN N Income-tax PAN of auditor or auditor's firm :	AABFA2928C
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,0000	Equity Shares	Rs.10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,500,000	Equity Shares	Rs.10/- each	Rs. 15.000 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	15.000	15.000	15.000
(b) Reserves & Surplus	20.725	14.602	8.538
(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)	35.725	29.602	23.538
(3) Non-Current Liabilities
(a) long-term borrowings	1.409	1.373	0.540
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	1.409	1.373	0.540
(4) Current Liabilities
(a) Short term borrowings	9.916	6.393	9.255
(b) Trade payables	13.421	10.824	9.274
(c) Other current liabilities	1.953	2.031	1.181
(d) Short-term provisions	3.902	4.171	3.375
Total Current Liabilities (4)	29.192	23.419	23.085
TOTAL	66.326	54.394	47.163
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.625	10.658	7.832
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.500	0.500	0.500
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.012	0.011	0.011
(c) Deferred tax assets (net)	0.178	0.129	0.170
(d) Long-term Loan and Advances	0.556	0.175	1.372
(e) Other Non-current assets
Total Non-Current Assets	14.871	11.473	9.885
(2) Current assets
(a) Current investments
(b) Inventories	6.502	4.823	4.318
(c) Trade receivables	20.214	19.780	22.367
(d) Cash and cash equivalents	8.014	5.780	3.280
(e) Short-term loans and advances	0.023	1.588	1.146
(f) Other current assets	16.702	10.950	6.167
Total Current Assets	51.455	42.921	37.278
TOTAL	66.326	54.394	47.163

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income
	Other Income
	TOTAL	129.201	114.629	107.887
Less	EXPENSES
	TOTAL	N.A	N.A	N.A
	PROFIT/ (LOSS) BEFORE TAX	8.872	8.708	7.522
Less	TAX	2.749	2.644	2.350
	PROFIT/ (LOSS) AFTER TAX	6.123	6.064	5.172
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	14.602	8.538	3.366
	Balance Carried to the B/S	20.725	14.602	8.538
	Earnings / (Loss) Per Share (Rs.)	4.082	4.042	3.448

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	1.925	1.563	0.736
Cash generated from operations	N.A	N.A	N.A

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.74	5.29	4.79
Operating Profit Margin (PBIDT/Sales)	(%)	N.A	N.A	N.A
Return on Total Assets (PBT/Total Assets}	(%)	13.52	16.20	16.18
Return on Investment (ROI) (PBT/Networth)		0.25	0.29	0.32
Debt Equity Ratio (Total Debt /Networth)		0.37	0.32	0.45
Current Ratio (Current Asset/Current Liability)		1.76	1.83	1.61

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	15.000	15.000	15.000
Reserves & Surplus	8.538	14.602	20.725
Net worth	23.538	29.602	35.725
long-term borrowings	0.540	1.373	1.409
Short term borrowings	9.255	6.393	9.916
Current maturities of long-term debts	0.736	1.563	1.925
Total borrowings	10.531	9.329	13.250
Debt/Equity ratio	0.447	0.315	0.371

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	107.887	114.629	129.201
		6.249	12.712

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	107.887	114.629	129.201
Profit	5.172	6.064	6.123
	4.79%	5.29%	4.74%

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	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	10382021	30/08/2012	1,181,000.00	BANK OF MAHARASHTRA	HPT COLLEGE CAMPUS, COLLEGE ROAD, NASIK, Maharashtra - 422405, INDIA	B60267812
2	10382020	24/08/2012	8,731,000.00	BANK OF MAHARASHTRA	HPT COLLEGE CAMPUS, COLLEGE ROAD, NASIK, Maharashtra - 422405, INDIA	B60267432
3	10306562	28/05/2010	1,000,000.00	BANK OF MAHARASHTRA	GRIHA NIRMAN BHAVAN, OLD AGRA ROAD, nasik, Maharashtra - 422002, INDIA	B01448141
4	10225643	24/08/2012 *	798,000.00	BANK OF MAHARASHTRA	HPT COLLEGE CAMPUS, COLLEGE ROAD, NASIK, Maharashtra - 422405, INDIA	B60267721

FIXED ASSETS

• Land
• Building
• Factory Building
• Plant and Machinery
• Pattern
• Electrical Installation
• Spares
• Vehicle
• Office Equipment
• Air Conditioner
• 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	Rs64.18
UK Pound	1	Rs.98.30
Euro	1	Rs.72.25

INFORMATION DETAILS

Information Gathered by :	MAN
Analysis Done by :	KSH
Report Prepared by :	RKI

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	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	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		48

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.