MIRA INFORM REPORT

Report No. :	326371
Report Date :	10.06.2015

IDENTIFICATION DETAILS

Name :	MASTER GRATINGS PRIVATE LIMITED
Registered Office :	Flat No.102, Gupta Plaza, Plot No.13, Site No.37 and 38, Local Shopping Centre, Kalkaji, New Delhi – 110019
Tel. No.:	91-129-2227490
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.12.2004
Com. Reg. No.:	55-131368
Capital Investment / Paid-up Capital :	Rs. 1.616 Million
CIN No.: [Company Identification No.]	U74999DL2004PTC131368
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 and Exporter of Wire Cutting Machines
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 17000
Status :	Small company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. The rating takes into consideration company’s modest net worth and small scale of operations. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Aditya Sharma
Designation :	Director
Contact No.:	91-9560088588
Date :	09.06.2015

LOCATIONS

Registered Office :	Flat No.102, Gupta Plaza, Plot No.13, Site No.37 and 38, Local Shopping Centre, Kalkaji, New Delhi – 110019, India
Tel. No.:	91-129-2227490
Mobile No.:	91-9560088588 (Mr. Aditya Sharma)
Fax No.:	91-129-4142391
E-Mail :	mastergratings_1@rediffmail.com infopga04@gmail.com
Area :	1500 sq. Ft.
Location :	Owned
Factory/Correspondence Address:	D-312, Sector-63, Noida – 201301, Uttar Pradesh, India
Tel No:	91-120-4214151
Fax No :	91-120-4214142

DIRECTORS

As on 25.09.2014

Name :

Mr. Aditya Sharma

Designation :

Director

Address :

D-20, 1^st Floor, Kalkaji, Delhi-110019, India

Date of Birth/Age :

12.03.1980

Date of Appointment :

17.12.2004

DIN No.:

00238396

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	U74999DL2004PTC131368	MASTER GRATINGS PRIVATE LIMITED	Director	17/12/2004	17/12/2004	-	Active	NO
2	U72900DL1985PLC021378	SATHYADEEP ENGINEERING COMPANY LIMITED	Director	01/04/2006	01/04/2006	20/05/2015	Active	NO
3	U93030DL2008PTC181621	GROWTH EXIM PRIVATE LIMITED	Director	01/08/2008	01/08/2008	-	Active	NO
4	U29253DL2007PTC162360	SECO MACHINES PRIVATE LIMITED	Director	30/09/2011	01/07/2010	27/05/2015	Active	NO

Name :

Mrs. Kusum Sharma

Designation :

Director

Address :

D-20, 1^st Floor, Kalkaji, Delhi-110019, India

Date of Birth/Age :

09.10.1982

Date of Appointment :

01.07.2007

DIN No.:

01736479

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	U74999DL2004PTC131368	MASTER GRATINGS PRIVATE LIMITED	Director	01/07/2007	01/07/2007	-	Active	NO
2	U93030DL2008PTC181621	GROWTH EXIM PRIVATE LIMITED	Director	01/08/2008	01/08/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2014

Names of Shareholders	No. of Shares	%age holding
Kushum Sharma	50000	30.94
Aditya Sharma	50000	30.94
Master Dhruv Sharma	29900	18.50
Master Sparsh Sharma	31700	19.62
Total	161600	100.00

Equity Share Break up (Percentage of Total Equity)

As on 25.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Wire Cutting Machines
Products :	Wire Straightening and Cutting-Off Machines
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	¨ Gulf Countries ¨ African Countries
Imports :	Not Available
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash, Advance Payment and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

¨ Gupta Steel – Noida, Uttar Pradesh

Customers :

Wholesalers and Retailers

¨ B 5 Plus Limited - Africa

No. of Employees :

20 (Approximately)

Bankers :

¨ Jammu and Kashmir Bank – Noida

¨ ICICI Bank Limited- Noida

Bank Name	IDBI Bank Limited
Branch	Noida Branch, 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:

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan
ICICI Bank	0.000	0.107
ICICI Bank	0.154	0.000
Total	0.154	0.107

Auditors :
Name :	Priyanka Garg and Associates Chartered Accountants
Address :	House No.82, Sector-15, Faridabad-121007, Haryana, India
Tel. No.:	91-95129-4142391
Mobile No.:	91-9910543300
PAN N Income-tax PAN of auditor or auditor's firm :	AALFP6183E
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 26.09.2014

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
161600	Equity Shares	Rs.10/- each	Rs. 1.616 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	1.616	1.616	1.616
(b) Reserves & Surplus	4.661	4.561	4.578
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.600
Total Shareholders’ Funds (1) + (2)	6.277	6.177	6.794
(3) Non-Current Liabilities
(a) long-term borrowings	3.071	3.564	3.311
(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)	3.071	3.564	3.311
(4) Current Liabilities
(a) Short term borrowings	0.154	0.000	0.000
(b) Trade payables	0.263	1.609	3.940
(c) Other current liabilities	3.505	1.186	1.496
(d) Short-term provisions	0.093	0.165	0.000
Total Current Liabilities (4)	4.015	2.960	5.436
TOTAL	13.363	12.701	15.541
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.181	8.971	9.933
(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	1.630	0.200
(c) Deferred tax assets (net)	0.133	0.090	0.024
(d) Long-term Loan and Advances	0.113	0.113	0.113
(e) Other Non-current assets	0.000	0.000	1.630
Total Non-Current Assets	8.427	10.804	11.900
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.724	1.451	1.381
(c) Trade receivables	0.025	0.020	1.381
(d) Cash and cash equivalents	0.379	0.161	0.618
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.808	0.265	0.261
Total Current Assets	4.936	1.897	3.641
TOTAL	13.363	12.701	15.541

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue From operation			23.106
		Other Income			0.148
		TOTAL	10.286	21.005	23.254
Less	EXPENSES
		Cost of Materials Consumed			16.722
		Purchases of Stock-in-Trade			NA
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade			(0.430)
		Employees benefits expense			1.641
		Other expenses			3.451
		TOTAL			21.384
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		10.135 (Including Financial and Depreciation)	20.700 (Including Financial and Depreciation)	1.870
Less	FINANCIAL EXPENSES				0.171
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION				1.699
Less	DEPRECIATION/ AMORTISATION				1.094
	PROFIT/(LOSS) BEFORE TAX		0.151	0.305	0.605
Less	TAX		0.052	0.098	0.000
	PROFIT/(LOSS) AFTER TAX		0.099	0.207	0.605
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.561	2.202	1.597
		Tax on Dividend
	BALANCE CARRIED TO THE B/S		4.661	NA	1.601
	Earnings / (Loss) Per Share (Rs.)		0.043	3.75	0.062

Particulars	31.03.2015
Sales Turnover	15.000

Expected Sales (2015-2016): Rs. 35.000 Million

The above information has been parted by Mr. Aditya Sharma

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term Borrowing	0.154	0.461	0.000
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	NA	2.62
Operating Profit Margin (PBIDT/Sales)	(%)	NA	NA	8.09
Return on Total Assets (PBT/Total Assets}	(%)	1.14	2.78	3.95
Return on Investment (ROI) (PBT/Networth)		0.02	0.05	0.09
Debt Equity Ratio (Total Debt /Networth)		0.51	0.58	0.49
Current Ratio (Current Asset/Current Liability)		1.23	0.64	0.67

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	1.616	1.616	1.616
Reserves & Surplus	4.578	4.561	4.661
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.600	0.000	0.000
Net worth	6.794	6.177	6.277
long-term borrowings	3.311	3.564	3.071
Short term borrowings	0.000	0.000	0.154
Total borrowings	3.311	3.564	3.225
Debt/Equity ratio	0.487	0.577	0.514

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	23.106	21.005	10.286
		(9.093)	(51.031)

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	23.106	21.005	10.286
Profit	0.605	0.207	0.099
	2.62%	0.99%	0.96%

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	NO
18	Major suppliers	Yes
19	Major customers	Yes
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	No
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

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Other Loans and Advances:
From Directors and Related parties	3.071	3.457
Total	3.071	3.457

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

¨ Motor Cycle

¨ Honda Active

¨ Furniture and Fixture

¨ Land and Building

¨ AC and Cooler

¨ Security Camera

¨ Office Equipment

¨ Computer

¨ Plant and Machinery

¨ Bicycle

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.63.88
UK Pound	1	Rs.98.47
Euro	1	Rs.72.14

INFORMATION DETAILS

Information Gathered by :	REK
Analysis Done by :	RSH
Report Prepared by :	PJA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	3
--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		28

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.