MIRA INFORM REPORT

Report No. :	325149
Report Date :	10.06.2015

IDENTIFICATION DETAILS

Name :	THE SMALL TOOLS MANUFACTURING COMPANY OF INDIA LIMITED
Registered Office :	23, A.M. Ghosh Road, Budge Budge, Kolkata - 743319, West Bengal
Tel. No.:	91-33-27004028/ 65450308/ 22365072
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.04.1948
Com. Reg. No.:	21-016637
Capital Investment / Paid-up Capital :	Rs. 17.837 Million
CIN No.: [Company Identification No.]	U29119WB1948PLC016637
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALT00203A
PAN No.: [Permanent Account No.]	AABCT0132E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Thread Rolls, Axial Thread Rolls, Coventry Chasers, Thread Circular Chasers, Thread Rolling Heads etc.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1948, it is dealing into export, import and manufacturing of thread rolls, axial thread rolls, Coventry chasers, thread circular chasers, thread rolling heads. In the view of financial report, the company has incurred huge accumulated losses which have eroded networth of the company. However, trade relations are fair. Business is active. Payments 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

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 DECLINED BY

Name :	Mr. Anik Pal Choudhari
Designation :	Director
Contact No.:	91-9830962646
Date :	03.06.2015

LOCATIONS

Registered Office :	23, A.M. Ghosh Road, Budge Budge, Kolkata - 743319, West Bengal, India
Tel. No.:	91-33-27004028/ 65450308/ 22365072
Mobile No.:	91-9830962646 [Mr. Anik Pal Choudhari]
Fax No.:	91-33-22365890/ 24076326
E-Mail :	stmcal@gmail.com
Website :	http://www.stmcal.com

DIRECTORS

AS ON 29.09.2014

Name :	Mr. Anik Pal Choudhuri
Designation :	Director
Address :	64, Lake Place, Kolkata – 700029, West Bengal, India
Date of Birth/Age :	16.10.1934
Date of Appointment :	23.04.1959
DIN No.:	00361548
Name :	Mr. Subodh Kumar Singha
Designation :	Director
Address :	Barui Para, Hoogly, Kolkata – 712306, West Bengal, India
Date of Birth/Age :	11.12.1967
Date of Appointment :	31.07.2006
DIN No.:	00962612
Name :	Mr. Arjun Singha
Designation :	Additional director
Address :	Paschim Baruipara, P.O. Baruipara, District Hoogly – 712306, West Bengal, India
Date of Birth/Age :	19.07.1960
Date of Appointment :	01.09.2008
DIN No.:	02485668

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares
Ghosh Chandra Romes	75
Ray Prosad Deba	55
Kundu Nath Rabindra	1
Roy Chowdhury Kumar Sunil	1
Coomar Ashutosh	10
Shaw Lakshmi	2
Basu Mullick Sreedhar and Basu Mullick Rani Usha	5
Palchoudhuri Anik	60342
Mittra Madhab Beni	2
Palchoudhuri Chitra, Palchoudhuri Sreoshi and Palchoudhuri Nayantara	60442
Palchoudhuri Ila, Palchoudhuri Amitava and Palchoudhuri Anik	870
United Bank of India	100
Damani Govindji Dhirajlal, Damani Govindji Hashmukhlal, Damani Dhirajlal Sudhir and Damani Hashmukhlal Jasumati	100
Damani Govindji Manmohandas and Damani Govindji Mangaldas	50
Singhi Kumar Deepak	50
Ray Narain Indra	15

AS ON 29.09.2014

Equity Share Breakup	Percentage of Holding
Category
Nationalized or other banks	0.06
Bodies corporate	0.83
Directors or relatives of directors	72.03
Other top fifty shareholders	27.08
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Thread Rolls, Axial Thread Rolls, Coventry Chasers, Thread Circular Chasers, Thread Rolling Heads etc.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Not Divulged
Countries :	Not Divulged
Imports :
Products :	Not Divulged
Countries :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	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 (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· The Federal Bank Limited

1, R N Mukherjee Road, Kolkata - 700001, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Government of West Bengal	10.097	10.097
Total	10.097	10.097

Banking Relations :	--
Auditors :
Name :	Konar Mustaphi and Associates Chartered Accountants
Address :	P-113, CIT Road, Kolkata – 700014, West Bengal, India
Tel. No.:	91-33-22840579
E-Mail :	kmasso1985@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAGFK4867M
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
200,000	Equity Shares	Rs. 100/- each	Rs. 20.000 Million
6,500	Preference Shares	Rs. 100/- each	Rs. 0.650 Million
	Total		Rs. 20.650 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
172,290	Equity Shares	Rs. 100/- each	Rs. 17.229 Million
6,070	Preference Shares	Rs. 100/- each	Rs. 0.607 Million
	Add: Forfeited Shares		Rs. 0.001 Million
	Total		Rs. 17.837 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	17.837	17.837	17.837
(b) Reserves & Surplus	(92.910)	(92.659)	(88.694)
(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)	(75.073)	(74.822)	(70.857)
(3) Non-Current Liabilities
(a) Long-term borrowings	60.468	60.404	58.994
(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)	60.468	60.404	58.994
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2.858	3.350	2.897
(c) Other current liabilities	39.154	40.088	38.814
(d) Short-term provisions	3.831	3.847	3.847
Total Current Liabilities (4)	45.843	47.285	45.558
TOTAL	31.238	32.867	33.695
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.049	5.056	5.193
(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	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	2.165	2.165	2.165
Total Non-Current Assets	7.214	7.221	7.358
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	16.285	18.108	17.706
(c) Trade receivables	5.620	5.758	6.659
(d) Cash and cash equivalents	0.687	0.512	0.591
(e) Short-term loans and advances	1.432	1.268	1.381
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	24.024	25.646	26.337
TOTAL	31.238	32.867	33.695

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	19.415	15.102	14.401
		Other Income	0.549	0.422	0.354
		TOTAL (A)	19.964	15.524	14.755
Less	EXPENSES
		Cost of Materials Consumed	4.965	6.573	5.749
		Manufacturing Cost	9.069	9.010	6.434
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1.980	-0.441	-2.985
		Employees benefits expense	0.864	0.710	1.830
		Other expenses	3.102	3.408	3.090
		TOTAL (B)	19.980	19.260	14.118
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.016)	(3.736)	0.637
Less	FINANCIAL EXPENSES (D)		0.104	0.092	0.110
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.120)	(3.828)	0.527
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.131	0.137	0.164
	PROFIT BEFORE TAX (E-F) (G)		(0.251)	(3.965)	0.363
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		(0.251)	(3.965)	0.363
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1.457	10.528	8.165
	Earnings Per Share (Rs.)		(1.41)	(22.23)	2.04

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	0.316	(1.421)	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(1.29)	(26.25)	2.52
Operating Profit Margin (PBDIT/Sales)	(%)	(0.08)	(24.74)	4.42
Return on Total Assets (PBT/Total Assets}	(%)	(0.80)	(12.06)	1.08
Return on Investment (ROI) (PBT/Networth)		0.00	0.05	(0.01)
Debt Equity Ratio (Total Liability/Networth)		(0.81)	(0.81)	(0.83)
Current Ratio (Current Asset/Current Liability)		0.52	0.54	0.58

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	17.837	17.837	17.837
Reserves & Surplus	(88.694)	(92.659)	(92.910)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(70.857)	(74.822)	(75.073)
Long-term borrowings	58.994	60.404	60.468
Short term borrowings	0.000	0.000	0.000
Total borrowings	58.994	60.404	60.468
Debt/Equity ratio	(0.833)	(0.807)	(0.805)

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	14.401	15.102	19.415
		4.868	28.559

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	14.401	15.102	19.415
Profit/ (Loss)	0.363	(3.965)	(0.251)
	2.52%	(26.25%)	(1.29%)

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)	No
16	No. of employees	No
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	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	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
From Body Corporate	50.371	50.307
Total	50.371	50.307

FIXED ASSETS:

· Land and Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipments

· Electric Gas Equipments

· Data Processing Machine

· Tools and Accessories

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. 63.94
UK Pound	1	Rs. 98.27
Euro	1	Rs. 72.37

INFORMATION DETAILS

Information Gathered by :	MAN
Analysis Done by :	TRI
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		14

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.