MIRA INFORM REPORT

Report No. :	314254
Report Date :	23.03.2015

IDENTIFICATION DETAILS

Name :	FONTUS WATER PRIVATE LIMITED (w.e.f. 06.01.2012)
Formerly Known As :	FONTUS WATER LIMITED
Registered Office :	A-1/152, Ignou Road, Neb Sarai, New Delhi - 110068
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.06.2001
Com. Reg. No.:	55-111383
Capital Investment / Paid-up Capital :	Rs.58.140 Million
CIN No.: [Company Identification No.]	U74899DL2001PTC111383
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELF02033D
PAN No.: [Permanent Account No.]	AAACF5565A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of water treatment plants.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	23.09.2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	23.09.2014

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. Rakesh Jain
Designation :	AGM
Contact No.:	91-8826416669
Date :	21.03.2015

LOCATIONS

Registered Office :	A-1/152, Ignou Road, Neb Sarai, New Delhi-110068, India
Tel. No.:	91-11-43100500
Mobile No.:	91-8826416669 (Mr. Rakesh Jain)
Fax No.:	91-11-43100599
E-Mail :	sanjeet@ewgroup.in sales@fontuswater.com cs@ewgroup.in
Website :	www.fontuswater.com
Location:	Owned
Factory:	D4 Nep Sarai, IGNOU Road, New Delhi – 110068, India
Tel. No.:	91-11-43100500
Fax No.:	91-11-43100599
E-Mail :	Sales@fontuswater.com
Location:	Owned
Regional Offices / Branch Office :	Located At Kolkata Mumbai Pune Ahmedabad Chennai Bangalore New Delhi Noida Gurgaon Chandigarh Jaipur Jammu Dehradun

DIRECTORS

As on 19.08.2014

Name :

Mr. Sunil Ghorawat

Designation :

Managing Director

Address :

110B, Aralias Golf Link, DLF – V, Gurgaon – 122009, Haryana, India

Date of Birth/Age :

20.09.1968

Date of Appointment :

10.11.2014

DIN No.:

00189277

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	U74899DL2000PTC105715	E A WATER PRIVATE LIMITED	Director	16/05/2000	16/05/2000	-	Active	NO
2	U60231DL2000PTC107593	VERA RESOURCES PRIVATE LIMITED	Director	07/09/2000	07/09/2000	22/09/2011	Active	NO
3	U74899DL2000PTC103848	Net Creations Private Limited	Director	21/01/2001	21/01/2001	-	Active	NO
4	U74899DL2001PTC111383	FONTUS WATER Private Limited	Director	10/11/2014	21/06/2001	-	Active	NO
5	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	15/03/2002	15/03/2002	-	Active	NO
6	U85110MH2001PTC132960	TANCLEAN PRIVATE LIMITED	Director	01/04/2005	01/04/2005	31/07/2008	Active	NO
7	U74100MH2005PTC153125	ENVIROCLEAN VENTURES PRIVATE LIMITED	Director	09/05/2005	09/05/2005	31/07/2008	Active	NO
8	L36939DN1989PLC000377	NISSAN COPPER LIMITED	Director	06/11/2006	06/11/2006	02/03/2009	Active	NO
9	U74899DL1982PTC013405	Deolalikar Consultants Private Limited	Director	03/04/2007	03/04/2007	-	Active	NO
10	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Additional director	02/12/2010	02/12/2010	-	Strike off	NO
11	U74140DL2011PTC219187	TAD Arts Private Limited	Director	13/05/2011	13/05/2011	23/08/2011	Active	NO
12	U74994DL2011PTC219186	Ya We Do Design Private Limited	Director	13/05/2011	13/05/2011	23/08/2011	Active	NO
13	U74140HR2011PTC043129	Karabi Artworks Private Limited	Director	06/06/2011	06/06/2011	18/07/2011	Active	NO
14	U85100DL2009PTC227463	Healthpoint Services India Private Limited	Director	23/09/2011	12/09/2011	-	Active	NO
15	U45400DL2010PTC211559	TERRA FIRMA DESIGNS PRIVATE LIMITED	Additional director	26/12/2011	26/12/2011	26/12/2012	Active	NO
16	U73100MH2012NPL226204	INSTITUTE FOR ECONOMIC POLICY ANALYSIS AND RESEARCH	Director	19/01/2012	19/01/2012	-	Active	NO
17	U85100DL2013NPL246905	EARTH WATER FOUNDATION	Director	02/01/2013	02/01/2013	-	Active	NO
18	U24299DL2005PTC142116	GEIST RESEARCH PRIVATE LIMITED	Director	22/04/2013	22/04/2013	-	Active	NO
19	U74140DL2013PTC256104	AJH Advisory Private Limited	Director	31/07/2013	31/07/2013	-	Active	NO
20	U74999DL2014PTC265178	AQUALYNG INDIA PRIVATE LIMITED	Director	21/02/2014	21/02/2014	-	Active	NO

Name :

Mr. Kewal Krishan Nohria

Designation :

Director

Address :

11, Aryavartha, N D Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

04.10.1932

Date of Appointment :

02.01.2003

DIN No.:

00060015

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	L74140PN1986PLC041033	ACCELYA KALE SOLUTIONS LIMITED	Director	25/09/2014	08/10/1988	-	Active	NO
2	U24295GA1988PLC000921	CG-PPI ADHESIVE PRODUCTS LIMITED	Director	04/11/1988	04/11/1988	-	Active	NO
3	U74899DL1993PTC051849	ITRON METERING SOLUTIONS INDIA PRIVATE LIMITED	Director	22/01/1993	22/01/1993	29/10/2010	Active	NO
4	L29142TN1992PLC021997	IGARASHI MOTORS INDIA LIMITED	Director	03/07/1993	03/07/1993	31/07/2014	Active	NO
5	U31404TN1993PTC025779	AGILE CONSUMER ELECTRIC INDIA Private Limited	Director	13/09/1993	13/09/1993	28/03/2011	Active	NO
6	U33112PN1995PTC093837	COLOGICX SYSTEMS Private Limited	Director	14/03/1997	14/03/1997	24/09/2013	Active	NO
7	U60231KA1984PTC006017	MAINI MATERIALS MOVEMENT PRIVATE LIMITED	Director	21/07/2007	24/09/1998	-	Active	NO
8	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	19/09/2007	26/03/1999	-	Active	NO
9	U72200KA1999PTC033050	CoreEl Technologies (India) Private Limited	Director	29/08/2000	29/08/2000	-	Active	NO
10	U74999HR2000PLC035269	GROW TALENT COMPANY LIMITED	Director	09/09/2000	09/09/2000	-	Active	NO
11	U72200DL2001PTC112820	SUKARMA TECHNOLOGIES PRIVATE LIMITED	Director	14/03/2002	14/03/2002	04/08/2008	Active	NO
12	U74899DL2001PTC111383	FONTUS WATER Private Limited	Director	02/01/2003	02/01/2003	-	Active	NO
13	U74899DL2000PTC105715	E A WATER PRIVATE LIMITED	Director	01/07/2003	01/07/2003	-	Active	NO
14	U74999HR2004PLC035286	ACQVIRE TALENT SERVICES LIMITED	Director	14/01/2004	14/01/2004	-	Amalgamated	NO
15	U31102TN2003PTC052057	AGILE ELECTRIC DRIVES TECHNOLOGIES AND HOLDINGS PRIVATE LIMITED	Director	20/05/2004	20/05/2004	-	Amalgamated	NO
16	U74899DL2000PTC103848	Net Creations Private Limited	Director	15/06/2004	15/06/2004	-	Active	NO
17	U29299MH1964PLC013087	C.T.R. MANUFACTURING INDUSTRIES LIMITED	Director	15/07/2004	15/07/2004	-	Active	NO
18	U31102TN2004PTC054140	AGILE ELECTRIC TECHNOLOGIES PRIVATE LIMITED	Director	26/09/2008	19/01/2005	-	Amalgamated	NO
19	U85110MH2001PTC132960	TANCLEAN PRIVATE LIMITED	Director	01/04/2005	01/04/2005	31/07/2008	Active	NO
20	U20200MH1956PLC009899	JOLLY BOARD LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
21	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	05/10/2005	05/10/2005	-	Active	NO
22	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Director	21/10/2005	21/10/2005	-	Strike off	NO
23	U51505TN2005PTC057898	IGARASHI MOTORS SALES PRIVATE LIMITED	Director	31/10/2006	31/10/2006	26/05/2014	Active	NO
24	L99999MH1982PLC026191	PRADEEP METALS LIMITED	Director	05/09/2008	14/04/2008	-	Active	NO
25	U24134MH1986PTC038671	POLYMERMANN (ASIA) PRIVATE LIMITED	Director	18/06/2010	20/11/2009	-	Active	NO
26	U85100DL2009PTC227463	Healthpoint Services India Private Limited	Director	23/09/2011	12/09/2011	-	Active	NO
27	U80903HR2012NPL045688	Inspired Leadership Gurukul	Director	20/04/2012	20/04/2012	-	Active	NO
28	U24299DL2005PTC142116	GEIST RESEARCH PRIVATE LIMITED	Director	22/04/2013	22/04/2013	-	Active	NO

Name :

Mr. Kamal Tiwari

Designation :

Director

Address :

House No.A-68, Sector-14, Noida - 201301, Uttar Pradesh, India

Date of Birth/Age :

17.11.1970

Date of Appointment :

09.07.2008

DIN No.:

00119385

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	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	06/03/2006	06/03/2006	-	Active	NO
2	U74899DL1982PTC013405	Deolalikar Consultants Private Limited	Director	03/04/2007	03/04/2007	31/10/2011	Active	NO
3	U74899DL2001PTC111383	FONTUS WATER Private Limited	Director	09/07/2008	09/07/2008	-	Active	NO
4	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Additional director	02/12/2010	02/12/2010	-	Strike off	NO

KEY EXECUTIVES

Name :	Ms. Ruchita Sharma
Designation :	Secretary
Address :	E1/8/33, Sector 15, Rohini, New Delhi - 110068, India
Date of Birth/Age :	04.05.1987
Date of Appointment :	04.07.2011
PAN No.:	DJGPS3575C
Name :	Mr. Rakesh Jain
Designation :	AGM

MAJOR SHAREHOLDERS

As on 19.08.2014

Names of Shareholders (Equity Shares)	No. of Shares
Sunil Ghorawat	493089
Kewal Krishan Nohria	493089
Net Holdings Private Limited, India	15268236
Flashnet Info Solutions (India) Limited, India	4062447
Aqua Nova Investments Holdings Pte. Limited, Singapore	782141
Sanjay Jain	29837
Vikram Dhumal	1580
Narayan Ramachandran	1093
Nikunj Jhaveri	73801
Srvind P. Kudchadker	1093
Shyam Sunder	72708
Dhanvant Lal Mehta	19680
Total	21298794

Names of Shareholders (Preference Shares)	No. of Shares
Aqua Nova Investments Holdings Pte. Limited, Singapore	1228054
Total	1228054

Equity Share Break up (Percentage of Total Equity)

As on 19.08.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	3.67
Bodies corporate	90.75
Directors or relatives of Directors	4.62
Others	0.96
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of water treatment plants.
Products :	Water treatment plants
Brand Names :	--
Agencies Held :	--
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash
Purchasing :	Credit (30 Days)

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

End Users

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

No. of Employees :

400 (Approximately)

Bankers :

Bank Name	Oriental Bank of Commerce
Branch	A-2/40 Safdarjung Enclave, New Delhi - 110029, Delhi, India
Person Name (With Designation)	Not Available
Contact Number	Tel No.: 91-11-26103833/26176037/26193101 Fax No.: 91-11-26166486
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Credit Limit: Rs. 110.000 Million
Account Operation	Not Available
Remarks (If any)	Not Available

Bank Name	Union Bank of India
Branch	(Lead Bank), F14-15,Connaught Place, New Delhi - 110001, India
Person Name (With Designation)	Not Available
Contact Number	Tel No.: 91-11-23354234/ 23310119/23314777/ 23326648 Fax No.: 91-11-23323809
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Credit Limit: Rs. 110.000 Million
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
SHORT TERM BORROWINGS
Rupee term loans from banks	145.098	197.274
Total	145.098	197.274

Auditors :
Name :	O P Tulsyan and Company Chartered Accountant
Address :	B-27/5, (D-S) Near Raja Garden Flyover, Ramesh Nagar, New Delhi-110015, India
Tel. No.:	91-124-2368884
E-Mail :	rakesh@optulsyan.com
PAN No.:	AAAF00729Q
Memberships :	--
Collaborators :	--
Subsidiary :	Aventura Components Private Limited CIN No.: U51505DL1997PTC089785 Address: New Delhi, India Line of business: Components E A Water Private Limited CIN No.: U74899DL2000PTC105715 Address: New Delhi, India Line of business: Knowledge and Marketing Solutions. Deolalikar Consultants Private Limited CIN No.: U74899DL1982PTC013405 Geist Research Private Limited CIN No.: U24299DL2005PTC142116

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Re.1/- each	Rs.25.000 Million
1234000	Preference Shares	Rs.30/- each	Rs.37.020 Million
	Total		Rs.62.020 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
21298794	Equity Shares	Re.1/- each	Rs.21.299 Million
1228054	Preference Shares	Rs.30/- each	Rs.36.841 Million
	Total		Rs.58.140 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	58.140	37.780	21.098
(b) Reserves & Surplus	903.563	428.616	43.254
(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)	961.703	466.396	64.352
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.020
(c) Other long term liabilities	0.000	0.000	10.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	10.020
(4) Current Liabilities
(a) Short term borrowings	146.598	201.774	130.068
(b) Trade payables	388.184	179.687	140.681
(c) Other current liabilities	30.264	21.399	9.664
(d) Short-term provisions	1.695	17.050	8.000
Total Current Liabilities (4)	566.741	419.910	288.413
TOTAL	1,528.444	886.306	362.785
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	19.197	18.811	14.359
(ii) Intangible Assets	0.970	0.329	0.158
(iii) Capital work-in-progress	0.000	0.000	10.500
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	191.821	115.688	0.000
(c) Deferred tax assets (net)	0.447	0.790	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	212.435	135.618	25.017
(2) Current assets
(a) Current investments	100.000	0.000	0.000
(b) Inventories	57.799	20.842	42.301
(c) Trade receivables	820.675	509.062	255.281
(d) Cash and cash equivalents	43.074	164.660	14.966
(e) Short-term loans and advances	288.313	46.435	23.576
(f) Other current assets	6.148	9.689	1.644
Total Current Assets	1,316.009	750.688	337.768
TOTAL	1,528.444	886.306	362.785

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	713.913	589.691	450.968
	Other Income	27.312	10.556	1.216
	TOTAL (A)	741.225	600.247	452.184
Less	EXPENSES
	Purchases of Stock-in-Trade	447.662	347.943	323.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(36.957)	21.459	(12.761)
	Employees benefits expense	93.286	76.254	59.455
	Other expenses	193.240	113.122	50.658
		0.000	0.193	0.510
	TOTAL (B)	697.231	558.971	420.862
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	43.994	41.276	31.322
Less	FINANCIAL EXPENSES (D)	21.675	21.452	12.845
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	22.319	19.824	18.477
Less/ Add	DEPRECIATION/ AMORTISATION (F)	3.365	2.097	1.783
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	18.954	17.727	16.694
Less	TAX (I)	5.812	6.913	5.617
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	13.142	10.814	11.077
	Earnings / (Loss) Per Share (Rs.)	0.62	0.51	0.53

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.84	1.83	2.46
Operating Profit Margin (PBIDT/Sales)	(%)	6.16	7.00	6.95
Return on Total Assets (PBT/Total Assets}	(%)	1.42	2.30	4.74
Return on Investment (ROI) (PBT/Networth)		0.02	0.04	0.26
Debt Equity Ratio (Total Debt /Networth)		0.15	0.43	2.02
Current Ratio (Current Asset/Current Liability)		2.32	1.79	1.17

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	21.098	37.780	58.140
Reserves & Surplus	43.254	428.616	903.563
Share Application money pending allotment	0.000	0.000	0.000
Net worth	64.352	466.396	961.703
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	130.068	201.774	146.598
Total borrowings	130.068	201.774	146.598
Debt/Equity ratio	2.021	0.433	0.152

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	450.968	589.691	713.913
		30.761	21.066

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	450.968	589.691	713.913
Profit	11.077	10.814	13.142
	2.46%	1.83%	1.84%

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	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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
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	Yes

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
SHORT TERM BORROWINGS
Other loans and advances, others	1.500	4.500
Total	1.500	4.500

INDUSTRY REVIEW

Subject operates in the Indian water and wastewater treatment market space. This is a fast-growing market, with immense potential. The main drivers of the business are:

Worsening ground water and surface water quality everywhere

· Falling supply and increasing demand for water

· Rising cost of water, particularly for industrial and commercial users

· Stricter regulatory guidelines for wastewater discharge and reuse

· Rising awareness about water quality

While the overall market for water treatment is over Rs.125000.000 Million Fontus Water’s predominant focus is on the industrial, commercial and small municipal markets as these are more desirable. This market is about INR 4,000 crores in size. The directly addressed market by Fontus Water currently would be around 700 to 800 crores, giving it a market share of about 8 to 10 percent in that space.

The water treatment market is highly fragmented and unorganized, with over 4000 system integrators mostly small and medium in size. The last year saw a slight slowing down of their market due to the industrial and economic slowdown. Some sectors like power and automotive were particularly affected badly.

BUSINESS REVIEW

Fontus Water is into the three broad businesses of Projects, Products and Services.

The Project business involves building customized solutions for industrial, commercial or government users for their water treatment needs. The scope of activity includes design, engineering, construction, installation, commissioning and sometimes operation & maintenance of the plant. A range of technologies are involved, and process understanding is important. The projects are secured through bidding, followed by techno-commercial discussion with the client

The Product business involves sale of a standardized set of plants which are packaged and usually skid-mounted in nature. These are pickedoff-the-catalog and sold. Standardization helps in less lead times, reduced costs and easier operation

The Services business includes maintenance contracts, operation & maintenance services, breakdown maintenance and spare sales.

Fontus Water has also been able to increase its presence in specific industrial segments like power generation, automotive and food & beverages, which are seeing significant project expansion. The expectation for higher quality and technical strength in these segments, ensures relatively lesser competition and higher margins in these segments. They expect a growth in the industrial customer segment this year, as they increase their exposure to that market.

Fontus is well placed to take advantage of these ample opportunities. In the last few years, they have established a national footprint with a customer base all over India. With offices in Delhi, Mumbai, Kolkata, Pune, Bangalore, Chennai and Hyderabad, there is a reach and presence across the nation.

Some of the major orders secured by the company recently, which will get executed and completed this year include: Larsen & Toubro, Lanco, Essar Oil, Madhya Pradesh Power Generation Company, Reliance Industries, NHPC, Nuclear Power Corporation of India, NTPC, Voltas, Mumbai International Airport, Military Engineering Services, etc.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10515124	23/07/2014	950,000.00	Union Bank Of India	F-14/15,, Connaught Place Branch, New Delhi, Delhi - 110001, India	C16539678
2	10542845	20/06/2014	90,000,000.00	Oriental Bank Of Commerce	A-2/49, SAFDARJUNG ENCLAVE, NEW DELHI, Delhi - 110029, INDIA	C35083435
3	10503344	21/05/2014	160,000,000.00	Union Bank Of India	Connaught Place Branch, F14/15,Connaught Place, New Delhi, Delhi -110001, India	C06815062
4	10495594	15/02/2014	30,000,000.00	Union Bank Of India	Connaught Place Branch, F14-15,Connaught Place, New Delhi, Delhi - 110001, India	C03976727
5	10408629	11/02/2013	20,000,000.00	Union Bank Of India	F14-15,Connaught Place, New Delhi, New Delhi, Delhi - 110001, India	B69840296
6	10397957	26/11/2012	140,000,000.00	Union Bank Of India(Lead Bank)	F14-15,Connaught Place, New Delhi, New Delhi, Delhi - 110001, India	B66215583
7	10318122	26/11/2012 *	140,000,000.00	Union Bank Of India(Lead Bank)	F14-15,Connaught Place, New Delhi, New Delhi, Delhi - 110001, India	B66213026
8	10075571	12/07/2014 *	110,000,000.00	Union Bank Of India	Connaught Place Branch, F-14/15, Connaught Place, New Delhi, Delhi - 110001, India	C14798847
9	10001641	23/03/2006	39,500,000.00	Union Bank Of India	Connaught Place Branch, F14/15,Connaught Place, New Delhi, Delhi - 110001, India	A00450916

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.49
UK Pound	1	Rs.92.26
Euro	1	Rs.66.80

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KVT

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	5
--PROFITABILITY	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.