MIRA INFORM REPORT

Report No. :	308513
Report Date :	23.03.2015

IDENTIFICATION DETAILS

Name :	NU-TECH DAIRY ENGINEERS PRIVATE LIMITED
Registered Office :	34, Food Park, Industrial Growth Centre, Saha – 134003, Haryana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	11.06.2004
Com. Reg. No.:	05–035405
Capital Investment / Paid-up Capital :	Rs.7.500 Million
CIN No.: [Company Identification No.]	U29251HR2004PTC035405
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, Supplier and Exporter of Dairy Farming and Processing Plants, Fruits and Vegetable Processing Plant, Post-Harvest Pack Houses and Cold Chains, Herbal and Pharmaceutical Plants, Material Handling Equipment’s, etc.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 29000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. As per registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 but the documents related to the financials for the year 2014 are not available from any sources. As per available financial of 2013, reserves of the company seems to be low. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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. Gagan Malik
Designation :	Chief Executives Officers
Contact No.:	91-9354706554
Date :	16.03.2014

LOCATIONS

Registered Office /Factory :	34, Food Park, HSIIDC, Industrial Growth Centre, Saha, 134003, Ambala, Haryana, India
Tel. No.:	91-171-2822700/ 2822699
Mobile No.:	91-9354706554 (Mr. Gagan Malik)
Fax No.:	91-171-2822699
E-Mail :	jpjnco@hotmail.com info@nutechgroup.co.in meenakshimakar@rediffmail.com nutechmalik@gmail.com
Website :	http://www.nutechgroup.co.in
Area :	2000 Sq. Ft.
Location :	Owned

DIRECTORS

As on 30.09.2013

Name :

Mr. Subhash Chander Malik

Designation :

Director

Address :

179 Model Town, Ambala City – 134 003, Haryana , India

Date of Birth/Age :

21.09.1950

Date of Appointment :

11.06.2004

DIN No.:

00499753

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	U15137HP2003PTC025836	NU TECH INDIA AGROFOODS PRIVATE LIMITED	Managing director	10-03-2003	10-03-2003	-	Strike off	NO
2	U29251HR2004PTC035405	NU-TECH DAIRY ENGINEERS PRIVATE LIMITED	Director	11-06-2004	11-06-2004	-	Active	NO
3	U29220HR2008PTC038000	ALLROUND (INDIA) VEGETABLE PROCESSING MACHINES PRIVATE LIMITED	Director	04-06-2008	04-06-2008	27-11-2008	Active	NO

Name :

Mr. Veerta C. Malik

Designation :

Director

Address :

179 Model Town, Ambala City – 134 003, Haryana , India

Date of Birth/Age :

16.04.1954

Date of Appointment :

11.06.2004

DIN No.:

00499774

Name :

Mrs. Nidhi Malik

Designation :

Director

Address :

House No. 179 Model Town, Ambala City – 134 003, Haryana , India

Date of Birth/Age :

21.09.1984

Date of Appointment :

01.12.2009

DIN No.:

02591910

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	U29251HR2004PTC035405	NU-TECH DAIRY ENGINEERS PRIVATE LIMITED	Director	01-12-2009	20-03-2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gagan Malik
Designation :	Chief Executives Officers
Name :	Mr. Shivom Malik
Designation :	Chief Executives Officers
Name :	Mr. S. C. Malik
Designation :	Managing Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age holding
Subhash C. Malik	250000	33.33
Veerta C. Malik	176000	23.47
Gagan Malik	254000	33.87
Nidhi Malik	70000	9.33
Total	750000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Supplier and Exporter of Dairy Farming and Processing Plants, Fruits and Vegetable Processing Plant, Post-Harvest Pack Houses and Cold Chains, Herbal and Pharmaceutical Plants, Material Handling Equipment’s, etc.
Products :	Dairy Farming and Processing Plants Fruit and Vegetable Processing Plant Post-Harvest Pack Houses and Cold Chains Herbal and Pharmaceutical Plants Material Handling Equipment’s
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Dairy Farming and Processing Plants Fruit and Vegetable Processing Plant Post-Harvest Pack Houses and Cold Chains Herbal and Pharmaceutical Plants Material Handling Equipment’s
Countries :	Sri Lanka Canada Australia Dubai
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30,60,90 Days)
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	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 :

· DAIRY FARMING AND PROCESSING:

o Punjab Milkfed, Chandigarh, NDRI, Karnal, Haryana

o Wockhardt Limited, Ludhiana

o Mahadev Milk Products, Kotkapur, Punjab

o Sirmore Milk Products, Nahan, H.P.

· POST HARVEST PACK HOUSES:

o Blue Star Limited, Delhi

o Voltas Limited, Delhi

o Rajasthan State Agriculture Marketing Board, Jaipur

o Agro-Dutch Industries Limited Lalru, Punjab

· FRUIT & VEGETABLE PROCESSING:

o G.D. Foods Limited, Delhi

o Himalaya International Limited

o Paonta Sahib, H.P.

o Jagdamba Foods Limited, Karnal, Haryana

o Shriram International Private Limited, Baddi, H.P.

· HERBAL & PHARMACEUTICAL PLANTS:

o Torrent Pharmaceuticals Limited, Baddi, H.P.

o Legacy Foods Limited, Baddi; Pacnacia Biotech Limited

o Baddi; Meridian Medicare Limited, Solan

o Ind Swift Pharma Limited, Derabassi

· MATERIAL HANDLING EQUIPMENTS:

o Hindustan Unilever Limited, Delhi

o Reckitt Benckiser India Limited, Jammu

o Swaraj Mazda Private Limited, Ropar

o Phillips Glass India Limited, Vadodra, Gujarat.

No. of Employees :

150 (Approximately)

Bankers :

• State Bank Of India, Rasmeccc Branch, Ambala - 133001, Haryana, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Long-term Borrowings
Term loan (Secured against plant and machinery and building)	2.680	5.309
Term loan (Secured against machinery and building)	1.272	2.036
SBI car loan	0.547	0.770
Short-term borrowings
CC A/C with SBI	18.274	22.849
Total	22.773	30.964

Auditors :
Name :	Ajay Mittal and Company Chartered Accountants
Address :	6352/10/5, Near Gopal Chowk, Nicholson Road, Ambala Cantt – 133001, Haryana, India
Tel. No.:	91-171-2631279 (R) 2663079
E-Mail :	ajaymittalajay@yahoo.co.in
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFA0543N
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	Ambla Industrial and Fabricators, Ambala Food and Biotech engineers, Fizabad.

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 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	7.500	7.500	7.500
(b) Reserves & Surplus	2.441	1.896	1.941
(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)	9.941	9.396	9.441
(3) Non-Current Liabilities
(a) long-term borrowings	4.984	8.600	13.128
(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)	4.984	8.600	13.128
(4) Current Liabilities
(a) Short term borrowings	18.274	22.849	25.412
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	71.340	41.681	43.997
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	89.614	64.530	69.409
TOTAL	104.539	82.526	91.978
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.891	8.801	9.981
(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	0.927	1.117	1.208
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.531	1.623	0.934
(e) Other Non-current assets	2.808	0.526	0.991
Total Non-Current Assets	16.157	12.067	13.114
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	61.902	57.145	49.281
(c) Trade receivables	26.297	13.017	29.443
(d) Cash and cash equivalents	0.183	0.297	0.140
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	88.382	70.459	78.864
TOTAL	104.539	82.526	91.978

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	94.782	30.721	57.356
	Other Income	NA	NA	NA
	TOTAL (A)	NA	NA	NA
Less	TOTAL EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	0.622	0.543	0.671
	Earnings / (Loss) Per Share (Rs.)	NA	NA	NA

Expected Sales (2014 - 2015) : Rs. 120.000 Million.

The above information has been parted by Mr. Gagan Malik (Chief Executives Officers).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	0.66	1.77	1.17
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	NA
Return on Investment (ROI) (PBT/Networth)		NA	NA	NA
Debt Equity Ratio (Total Debt /Networth)		2.34	3.35	4.08
Current Ratio (Current Asset/Current Liability)		0.99	1.09	1.14

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	7.500	7.500	7.500
Reserves & Surplus	1.941	1.896	2.441
Net worth	9.441	9.396	9.941
long-term borrowings	13.128	8.600	4.984
Short term borrowings	25.412	22.849	18.274
Total borrowings	38.540	31.449	23.258
Debt/Equity ratio	4.082	3.347	2.340

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	57.356	30.721	94.782
		(46.438)	208.525

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million )	(Rs. In Million )	(Rs. In Million )
Sales	57.356	30.721	94.782
Profit	0.671	0.543	0.622
	1.17%	1.77%	0.66%

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

The Registered Office of the company has been shifted from 179 Model Town, Ambala City – 134 003, Haryana, India to the present address w.e.f. 30.03.2011.

PERFORMANCE OF THE COMPANY:

The Directors of the Company report that the financial year 2012-13 was satisfactory both quantitatively and qualitatively. Company has earned a net profit of Rs.0.621 during the year. Directors of the company are hopeful for better results in the next coming years.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10156455	20/04/2009	39,300,000.00	STATE BANK OF INDIA	RASMECCC BRANCH, AMBALA, Haryana - 133001, INDIA	A61766507
2	10074184	25/10/2007	39,700,000.00	STATE BANK OF INDIA	RASMECCC Branch, Ambala Cantt, Haryana - 133001, INDIA	A26239251
3	90063267	26/08/2006 *	21,500,000.00	STATE ABNK OF INDIA	SADAR BAZAR, NICHOLSON ROAD, AMBALA CANTT, Haryana - 133001, INDIA	A05132220

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Long-term Borrowings
Loan from friends and relatives	0.485	0.485
Total	0.485	0.485

FIXED ASSETS

· A.C

· Land

· Building

· Furniture

· Weight and Measures

· Machinery

· Car

· Computers

· Generator

· Auto and Jeep

· Motor Cycle

· Scooter

· Water Filter

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

INFORMATION DETAILS

Information Gathered by :	RKA
Report Prepared by :	RCH

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		27

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	--

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.