MIRA INFORM REPORT

Report No. :	312776
Report Date :	20.03.2015

IDENTIFICATION DETAILS

Name :	AGARWAL FERRO METALLIC PRIVATE LIMITED
Registered Office :	7/103, Mamu Bhanja, Aligarh – 202001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	10.08.2005
Com. Reg. No.:	20–030479
Capital Investment / Paid-up Capital :	Rs. 21.731 Million
CIN No.: [Company Identification No.]	U2710UP2005PTC030479
TAN No.: [Tax Deduction & Collection Account No.]	AGRA11549G
PAN No.: [Permanent Account No.]	AAFCA3655B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of M. S. Ingots.
No. of Employees :	24 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 160000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Management has failed to file latest financials for FY 14, with the statutory authorities. As per available, the management has reported working capital intensive operations during FY 13. However, trade relations seem to be fair. Business is active. Payment terms are unknown. In view of lack of requisite information, 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 – 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

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

Name :	Mr. Arun
Designation :	Accountant Executives
Contact No.:	91-571-2404530
Date :	17.03.2015

LOCATIONS

Registered Office :	7/103, Mamu Bhanja, Aligarh-202001, Uttar Pradesh, India
Tel. No.:	91-571-2512045
Mobile No.:	91-9927021510
Fax No.:	91-571-2404530
E-Mail :	Agarwaferro@hotmail.com cabrajeshvarshney@gmail.com
Website :	http://www.agarwal-ferro-metallic
Factory :	Boner Village, Aligarh-202001, Uttar Pradesh, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Deepak Agarwal

Designation :

Director

Address :

3/52, Marris Road, Aligarh, Uttarpradesh-202001, India

Date of Birth/Age :

15.07.1965

Date of Appointment :

10.08.2005

DIN No.:

00039674

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	U51900MH1987PLC042190	BALAJI YARN LTD	Director	15-12-2004	15-12-2004	-	Active	NO
2	U27100MH2005PTC152076	RPA FERRO-INDUSTRIES PRIVATE LIMITED	Director	18-03-2005	18-03-2005	25-01-2010	Active	NO
3	U27101UP2005PTC030479	AGARWAL FERRO-METALLIC PRIVATE LIMITED	Director	10-08-2005	10-08-2005	-	Active	NO
4	U51900MH1992PTC068550	MUKUL HOLDING AND TRADING CO PVT LTD	Director	30-09-2014	30-09-2014	-	Active	NO

Name :

Mr. Mradul Suresh Chandra Agarwal

Designation :

Director

Address :

3/52, Marris Road, Aligarh, Uttarpradesh-202001, India

Date of Birth/Age :

30.08.1962

Date of Appointment :

10.08.2005

DIN No.:

00039681

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	U51900MH1987PLC042190	BALAJI YARN LTD	Director	15-12-2004	15-12-2004	-	Active	NO
2	U27100MH2005PTC152076	RPA FERRO-INDUSTRIES PRIVATE LIMITED	Director	18-03-2005	18-03-2005	25-01-2010	Active	NO
3	U27101UP2005PTC030479	AGARWAL FERRO-METALLIC PRIVATE LIMITED	Director	10-08-2005	10-08-2005	-	Active	NO
4	U85191UP2009PTC037107	Seven Heaven Healthcare Private Limited	Director	01-04-2009	01-04-2009	-	Active	NO
5	U51900MH1992PTC068548	SUSHANT SECURITIES AND TRADING COMPANY PVT LTD	Director	30-09-2014	30-09-2014	-	Active	NO

Name :

Mr. Mukul Agarwal

Designation :

Director

Address :

Jiwan Vihar Building, Manav Mandir Road, Walkeshwar, Mumbai, Maharashtra, India

Date of Birth/Age :

18.09.1960

Date of Appointment :

10.08.2005

DIN No.:

00995221

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	U51900MH1992PTC068550	MUKUL HOLDING AND TRADING CO PVT LTD	Director	20-03-1993	20-03-1993	-	Active	NO
2	U51900MH1992PTC068548	SUSHANT SECURITIES AND TRADING COMPANY PVT LTD	Director	22-05-1993	22-05-1993	-	Active	NO
3	U27101UP2005PTC030479	AGARWAL FERRO-METALLIC PRIVATE LIMITED	Director	10-08-2005	10-08-2005	-	Active	NO

Name :

Mr. Rahul Sharma

Designation :

Director

Address :

56, Govind Nagar, Shahganjagra, Uttar Pradesh, India

Date of Birth/Age :

24.02.1972

Date of Appointment :

10.08.2005

DIN No.:

01871754

Name :

Mr. Suresh Chandra Agarwal

Designation :

Director

Address :

3/52, Marris Road, Aligarh, Uttar Pradesh-202001, India

Date of Birth/Age :

02.08.1932

Date of Appointment :

10.08.2005

DIN No.:

01041668

Name :

Mr. Abhinav Agarwal

Designation :

Director

Address :

806 5, Jeevan Vihar Manav Mandir Road, Mumbai 400006, Maharashtra, India

Date of Birth/Age :

22.04.1986

Date of Appointment :

01.06.2012

DIN No.:

05301943

KEY EXECUTIVES

Name :	Mr. Arun
Designation :	Accountant Executives

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Suresh Chandra Agarwal	44325	17.78
Depak Agarwal	55300	22.18
Mradul Agarwal	37470	15.03
Mukul Agarwal	24500	9.83
Mithan Lal Agarwal	7500	3.01
Sushant Agarwal	7080	2.84
Pranav Agarwal	8500	3.41
Rahul Sharma	10500	4.21
Halaji Yarn Limited	22135	8.88
Mukal Holding and Trading Company Private Limited	24000	9.63
Sushant Securities and Trading company Private limited	8000	3.21
Total	249310	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 of M. S. Ingots.
Products :	M. S. Ingots
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	Korea
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Ra Sham and Company, Jamshedpur, India
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 :

· Wholesalers

· Retailers

· Manufacturer

Reference :	Rathi Steel – Ghaziabad, Uttar Pradesh, India
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 :

24 (Approximately)

Bankers :

• Punjab National Bank, Railway Road, Aligarh-202001, Uttar Pradesh, India
• Canara Bank, Railway Road, Aligarh-202001, Uttar Pradesh, India
• Punjab National Bank, Retail Asset Branch, Railway Road, Aligarh - 202001, Uttar Pradesh, India

Auditors :
Name :	Brajesh K Varshney and Company Chartered Accountants
Address :	12-13 1^stFloor Rajdhani Complex, Old Hathars Adda, Aligarh – 202001, Uttar Pradesh, India
Tel. No.:	91-571-2901571
Mobile No.:	91-98372-38585
E-Mail :	brajeshvarshney@yahoo.co.in
PAN N Income-tax PAN of auditor or auditor's firm :	ABVPV0402D
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	S. S. Agarwal and Company Mukul Enterprise Suresh chandar Agarwal and Company

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
255000	Equity Shares	Rs.100/- each	Rs.25.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
249310	Equity Shares	Rs.100/- each	Rs.24.931 Million

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
255000	Equity Shares	Rs.100/- each	Rs.25.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
217310	Equity Shares	Rs.100/- each	Rs.21.731 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	21.731	21.731	21.731
(b) Reserves & Surplus	33.247	30.444	26.883
(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)	54.978	52.175	48.614
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	23.050
(c) Other long term liabilities	21.198	43.414	26.876
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	21.198	43.414	49.926
(4) Current Liabilities
(a) Short term borrowings	44.528	25.235	0.000
(b) Trade payables	143.917	104.950	83.193
(c) Other current liabilities	7.422	9.461	5.865
(d) Short-term provisions	2.252	9.561	7.453
Total Current Liabilities (4)	198.119	149.207	96.511
TOTAL	274.295	244.796	195.051
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22.621	24.751	24.792
(ii) Intangible Assets	0.325	0.405	0.485
(iii) Capital work-in-progress	0.341	0.060	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	9.796	9.457	0.000
(e) Other Non-current assets	0.000	0.000	7.858
Total Non-Current Assets	33.083	34.673	33.135
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	169.190	146.044	104.425
(c) Trade receivables	39.911	44.051	42.146
(d) Cash and cash equivalents	14.809	7.606	0.947
(e) Short-term loans and advances	7.076	6.190	8.192
(f) Other current assets	10.226	6.232	6.206
Total Current Assets	241.212	210.123	161.916
TOTAL	274.295	244.796	195.051

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	NA	NA	NA
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	TOTAL EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	4.204	5.193	NA
Less	TAX	1.402	1.632	NA
	PROFIT/ (LOSS) AFTER TAX	2.802	3.561	3.128
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	13.325	10.523	NA
	Earnings / (Loss) Per Share (Rs.)	11.24	14.28	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Opening Balance)	(%)	26.63	51.15	NA
Operating Profit Margin (PBIDT/ Opening Balance][)	(%)	0.00	0.00	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.53	2.12	NA
Return on Investment (ROI) (PBT/Networth)		0.08	0.10	NA
Debt Equity Ratio (Total Debt /Networth)		0.81	0.48	0.00
Current Ratio (Current Asset/Current Liability)		1.22	1.41	1.68

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	21.731	21.731	21.731
Reserves & Surplus	26.883	30.444	33.247
Net worth	48.614	52.175	54.978
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	25.235	44.528
Total borrowings	0.000	25.235	44.528
Debt/Equity ratio	0.000	0.484	0.810

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10555343	28/02/2015	291,300,000.00	CANARA BANK	Apsara Complex, Gandhi Marg, Aligarh, Uttar Pradesh - 202001, India	C46829982
2	10341327	07/03/2012	1,050,000.00	PUNJAB NATIONAL BANK	Retail Asset Branch, Railway Road, Aligarh, Uttar Pradesh - 202001, India	B34626259
3	10341377	18/02/2012	1,050,000.00	PUNJAB NATIONAL BANK	Retail Asset Branch, Railway Road, Aligarh, Uttar Pradesh - 202001, India	B34625475

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Short-term borrowings
Loans from Related Parties	44.528	25.235
Total	44.528	25.235

FIXED ASSETS

· Furnace

· Building

· Car

· Plant and Machinery

· Mobiles

· Molds

· Computer

· Computer Printer

· Electric Fittings

· Fan

· Lab Equipment’s

· Office Equipment’s

· Scooter

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 records 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 records 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.62.42
UK Pound	1	Rs.92.99
Euro	1	Rs.67.29

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUB
Report Prepared by :	RCH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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 unfavorable 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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.