MIRA INFORM REPORT

Report No. :	312118
Report Date :	13.03.2015

IDENTIFICATION DETAILS

Name :	POLYMAK TOOLS (INDIA) PRIVATE LIMITED
Registered Office :	Alsa Towers, 186/187, P. H. Road, Kilpauk, Chennai – 600004, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.07.2008
Com. Reg. No.:	18-068438
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U28939TN2008PTC068438
IEC No.:	0408015900
TAN No.: [Tax Deduction & Collection Account No.]	CHEP10547F
PAN No.: [Permanent Account No.]	AAECP7205P
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor of power tools and accessories.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 67000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payments are reported to be slow but correct. 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Gopi
Designation :	Accounts Manager
Contact No.:	91-9551955599
Date :	13.03.2015

LOCATIONS

Registered/ Admin Office/ Factory :	Alsa Towers, 186/187, P. H. Road, Kilpauk, Chennai – 600004, Tamilnadu, India
Tel. No.:	91-44-26401869/ 42857841/ 25222634
Mobile No.:	91-9551955599 (Mr. Gopi)
Fax No.:	91-44-42857654/ 25222634
E-Mail :	info@polymak.co.in info@makitaindia.com jthayalan@gmail.com
Website :	http://www.polymak.co.in
Location :	Rented

DIRECTORS

AS ON 26.09.2014

Name :

Mr. Mohammed Shamsuddin

Designation :

Director

Address :

Old No.163,New No.4,Santhome High Road, Mylapore, Chennai - 600004, Tamilnadu, India

Date of Birth/Age :

03.01.1982

Date of Appointment :

02.07.2008

DIN No.:

01569770

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	U51433TN2003PTC050636	MAKITA TOOLS (INDIA) PRIVATE LIMITED	Managing director	02/04/2003	02/04/2003	-	Active	NO
2	U74210TN2005PTC057625	AFLOAT MANPOWER CONSULTANCY COMPANY PRIVATE LIMITED	Director	27/09/2005	27/09/2005	-	Active	NO
3	U28939TN2008PTC068438	POLYMAK TOOLS (INDIA) PRIVATE LIMITED	Managing director	02/07/2008	02/07/2008	-	Active	NO
4	U51909TN2010PTC076330	KOSHE WELDING SOLUTIONS PRIVATE LIMITED	Director	25/06/2010	25/06/2010	-	Active	NO
5	U27209TN1977PTC007305	POLYFIT FABRICATORS PRIVATE LIMITED	Director	12/12/2011	12/12/2011	-	Active	NO
6	AAA-8196	FILLIN QUICK SERVICE RESTAURANT LLP	Designated Partner	01/03/2012	01/03/2012	-	Active	NO

Name :

Mr. Shabbir Bhai

Designation :

Director

Address :

Basera Apts, Flat No.2C, 46, Besant Avenue Road, Adyar, Chennai - 600020, Tamilnadu, India

Date of Birth/Age :

16.04.1961

Date of Appointment :

02.07.2008

DIN No.:

00958177

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	U51909TN1988PTC016489	CLASSIC ENGINEERS (INDIA) PRIVATE LIMITED	Director	22/11/1988	22/11/1988	-	Active	NO
2	U25209TN1996PTC034257	POLYHOSE INDIA PRIVATE LIMITED	Managing director	24/01/1996	24/01/1996	-	Active	NO
3	U28939TN2004PTC053838	PLATINUM PROFILE (INDIA) PRIVATE LIMITED	Director	28/07/2004	28/07/2004	-	Active	NO
4	U25191TN2004PTC053900	POLY HOSE INDIA (RUBBER) PRIVATE LIMITED	Managing director	05/08/2004	05/08/2004	-	Active	NO
5	U63040TN2007PTC064135	AKASAKA HOSPITALITY PRIVATE LIMITED	Director	28/06/2007	28/06/2007	31/03/2010	Active	NO
6	U45200TN2008PTC066122	PH FOUNDATIONS PRIVATE LIMITED	Director	21/01/2008	21/01/2008	-	Active	NO
7	U24134TN2007PTC062123	ITAL PLASTIC COMPOUNDS PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
8	U28939TN2008PTC068438	POLYMAK TOOLS (INDIA) PRIVATE LIMITED	Director	02/07/2008	02/07/2008	-	Active	NO
9	U24131TN1961PLC004560	IND-ITAL CHEMICALS LIMITED	Director	30/09/2010	05/04/2010	-	Active	NO
10	U25203TN2010PTC076613	VECTOR HYDRAULICS PRIVATE LIMITED	Director	16/07/2010	16/07/2010	-	Active	NO
11	U34300PN2011PTC139272	POLYHOSE AUTOMOTIVE PRIVATE LIMITED	Director	20/04/2011	20/04/2011	-	Active	NO
12	U28112TN2011PTC081269	ADDLIFE COATING SYSTEMS PRIVATE LIMITED	Director	29/06/2011	29/06/2011	08/11/2012	Active	NO
13	U25209TN2012PTC089150	Kohyei Polymers (India) Private Limited	Director	24/12/2012	24/12/2012	-	Active	NO

MAJOR SHAREHOLDERS

AS ON 26.09.2014

Names of Shareholders	No. of Shares	% of Holding
Mohammed Shamsuddin	5000	50.00
Shabbir Bhai	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 26.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Distributor of power tools and accessories.
Products :	Power Tools Accessories
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Accessories
Countries :	China
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	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 :

Company Name :	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 :

Information declined by the management

Bankers :

Bank of Maharashtra, Broadway Branch, 116 Broadway, Chennai – 600108, Tamilnadu, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Term loans from banks
HDFC Bank Limited- Loan	9.097	0.000
Bank of Maharashtra CC A/c	7.410	16.958
HDFC Bank Limited- Vehicle Loan (Xylo)	0.000	0.078
HDFC Bank Limited- Vehicle Loan (Terrano)	0.928	0.000
HDFC Bank Limited- Vehicle Loan (Tavera)	0.301	0.548
HDFC Bank Limited- Vehicle Loan (Tata Ace)	0.128	0.232
HDFC Bank Limited- Vehicle Loan (Ford Fgo)	0.016	0.198
Total	17.880	18.014

Banking Relations :	--
Auditors :
Name :	J. Thayalan Chartered Accountants
Address :	Old No.45, New No.93, S.M. Plaza, Armenian Street, 3^rd Floor, Chennai – 600001, Tamilnadu, India
Tel. No.:	91-80-25222634
E-mail :	jthayalan@gmail.com
PAN No.:	AADPT5187A
Membership :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 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	1.000	1.000	1.000
(b) Reserves & Surplus	22.557	20.783	19.767
(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)	23.557	21.783	20.767
(3) Non-Current Liabilities
(a) long-term borrowings	27.003	31.526	35.981
(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)	27.003	31.526	35.981
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	26.605	42.981	57.105
(c) Other current liabilities	2.963	1.259	1.789
(d) Short-term provisions	1.500	3.800	4.200
Total Current Liabilities (4)	31.068	48.040	63.094
TOTAL	81.628	101.349	119.842
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.678	4.438	4.809
(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	10.039	10.280	4.498
(e) Other Non-current assets	0.000	0.000	10.267
Total Non-Current Assets	14.717	14.718	19.574
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	26.421	38.183	55.202
(c) Trade receivables	38.603	40.972	40.922
(d) Cash and cash equivalents	0.387	2.244	4.144
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	1.500	5.232	0.000
Total Current Assets	66.911	86.631	100.268
TOTAL	81.628	101.349	119.842

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	188.654	203.619	250.662
Less	EXPENSES
		TOTAL	182.479	197.446	236.645
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		6.175	6.173	14.017
Less	DEPRECIATION/ AMORTISATION		1.428	1.357	1.292
	PROFIT/(LOSS) BEFORE TAX		4.747	4.816	12.725
Less	TAX		2.973	3.800	4.200
	PROFIT/(LOSS) AFTER TAX		1.774	1.016	8.525
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		20.783	19.767	11.242
	BALANCE CARRIED TO THE B/S		22.557	20.783	19.767
	Earnings Per Share (Rs.)		177.40	--	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets)	(%)	5.82	4.75	10.62
Return on Investment (ROI) (PBT/Networth)		0.20	0.22	0.61
Debt Equity Ratio (Total Debt /Networth)		1.15	1.45	1.73
Current Ratio (Current Asset/Current Liability)		2.15	1.80	1.59

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	1.000	1.000	1.000
Reserves & Surplus	19.767	20.783	22.557
Net worth	20.767	21.783	23.557
long-term borrowings	35.981	31.526	27.003
Short term borrowings	0.000	0.000	0.000
Total borrowings	35.981	31.526	27.003
Debt/Equity ratio	1.733	1.447	1.146

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	250.662	203.619	188.654
		(18.768)	(7.350)

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	250.662	203.619	188.654
Profit	8.525	1.016	1.774
	3.40%	0.50%	0.94%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Other loans and advances	9.123	13.512
Total	9.123	13.512

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10141792	21/03/2011 *	30,000,000.00	Bank of Maharashtra	Board Way Branch, 116, Sri Gujarati Mandal Bhavan, Braodway, Chennai, Taminadu - 600108, India	B09609892

*Date of modification Charges

FIXED ASSETS:

· Air Conditioner

· Computer and Accessories

· Furniture and Fittings

· Packing Machine

· Telephones

· Weighing Machine

· Motor Car

· Lorry

· Racking System- Warehouse

· Pallet Stacker

· Wooden Pallet

· Electrical Fittings

· Picker Stacker

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.62.57
UK Pound	1	Rs.93.57
Euro	1	Rs.65.95

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUC
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	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		41

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.