MIRA INFORM REPORT

Report No. :	311787
Report Date :	23.03.2015

IDENTIFICATION DETAILS

Name :	SRE MACHINERIES PRIVATE LIMITED
Registered Office :	Veera Dairy Compound, Vikas Industrial Estate, Sanjay Nagar, Malad (East), Mumbai – 400097, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.06.2005
Com. Reg. No.:	11-153815
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U29267MH2005PTC153815
TAN No.: [Tax Deduction & Collection Account No.]	MUMS51029G
PAN No.: [Permanent Account No.]	AAJCS0295H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Industrial Laundry Equipment, Boiler and Textile Processing Machinery.
No. of Employees :	22 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 5400
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. 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 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

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 :	Mrs. Anita
Designation :	Accounts Department
Contact No.:	91-22-28411227
Date :	19.03.2015

LOCATIONS

Registered Office/ Factory :	Veera Dairy Compound, Vikas Industrial Estate, Sanjay Nagar, Malad (East), Mumbai – 400097, Maharashtra, India
Tel. No.:	91-22-28411227/ 28403410
Fax No.:	91-22-28491999
E-Mail :	dkrocs@gmail.com sreng93@gmail.com
Website :	http://www.sremachineries.net http://www.sremachineries.com
Area :	6000 Sq. ft.
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sudesh Janardan Vaidya

Designation :

Director

Address :

402-B, Suraj Apartment, Eksar Road, Borivali [West], Mumbai – 400103, Maharashtra, India

Date of Birth/Age :

08.05.1963

Date of Appointment :

07.06.2005

DIN No.:

00113881

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	Company/ LLP Status	Defaulting status
1	U29267MH2005PTC153815	SRE MACHINERIES PRIVATE LIMITED	Director	07/06/2005	07/06/2005	Active	NO
2	U74999MH2008PTC182373	BLAU APPARELS COMPANY PRIVATE LIMITED	Director	19/05/2008	19/05/2008	Active	NO
3	U17299MH2008PTC181881	PARAMOUNT LIFESTYLE PRIVATE LIMITED	Director	02/09/2010	02/09/2010	Active	NO
4	U18101MH2006PTC165745	INDACO JEANS PRIVATE LIMITED	Director	09/04/2012	09/04/2012	Active	NO

Name :

Mrs. Lata Vinod Mhaskar

Designation :

Director

Address :

501-A, Daya Sarita, Krishnavatika Road, Gokuldham, Goregaon [East], Mumbai – 400063, Maharashtra, India

Date of Birth/Age :

04.04.1964

Date of Appointment :

07.06.2005

DIN No.:

02878373

KEY EXECUTIVES

Name :	Mrs. Anita
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Lata Vinod Mhaskar	500	50.00
Sudesh Janardan Vaidya	500	50.00
Total	1000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Industrial Laundry Equipment, Boiler and Textile Processing Machinery.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	Bahrain
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Advance Payment and Credit
Purchasing :	Advance Payment and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

· Akash Steels

· Amins Group

· Ashish Steel

· Deepali Enterprise

· Engineering Equipment Corporation

· Mayur Enterprises

Customers :

Wholesalers, Retailers and Manufacturer

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

· Indaco Private Limited

· Genova Dyers

· Heena Arts

· Shree Sai Arts

· Shree Shakun Reality Private Limited

No. of Employees :

22 (Approximately)

Bankers :

Bank Name:	HDFC Bank Limited
Branch:	Goregaon Branch, Mumbai, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· State Bank of India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Apna Sahakari Bank	0.116	0.315
Total	0.116	0.315

Banking Relations :	--
Auditors :
Name :	Dilip Kapadia and Company Chartered Accountants
Address :	Room No.2, Baburao Chawl, Bachani Nagar Cross Lane, Daftary Road, Malad (East), Mumbai – 400097, Maharashtra, India
Tel. No.:	91-22-28815590/ 28800195
Mobile No.:	91-9820432763
E-Mail :	dkincometax@gmail.com
Income-tax PAN of auditor or auditor's firm :	ADUPK4157H
Associates/ Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs. 100/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,000	Equity Shares	Rs. 100/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

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	0.100	0.100	0.100
(b) Reserves & Surplus	1.822	1.664	1.260
(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)	1.922	1.764	1.360
(3) Non-Current Liabilities
(a) Long-term borrowings	1.244	1.463	2.008
(b) Deferred tax liabilities (Net)	0.026	0.024	0.022
(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)	1.270	1.487	2.030
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	8.260	8.262	11.881
(c) Other current liabilities	5.600	5.016	6.862
(d) Short-term provisions	0.656	0.542	0.527
Total Current Liabilities (4)	14.516	13.820	19.270
TOTAL	17.708	17.071	22.660
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.381	7.453	7.516
(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	0.561	0.283	0.233
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7.942	7.736	7.749
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.533	3.499	7.183
(c) Trade receivables	3.741	3.092	5.127
(d) Cash and cash equivalents	1.467	1.063	0.086
(e) Short-term loans and advances	2.025	1.681	2.515
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	9.766	9.335	14.911
TOTAL	17.708	17.071	22.660

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	15.259	22.443	20.884
Less	EXPENSES
		TOTAL	15.259	22.443	20.884
	PROFIT BEFORE TAX		0.239	0.549	0.456
Less	TAX		0.081	0.152	0.142
	PROFIT AFTER TAX		0.158	0.397	0.314
	Earnings Per Share (Rs.)		158	397	314

Expected Sales (2014-2015): Rs. 15.000 Millions

The above information has been parted by Mrs. Anita [Accounts Department]

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	1.39	3.27	2.03
Return on Investment (ROI) (PBT/Networth)		0.12	0.31	0.34
Debt Equity Ratio (Total Debt/Networth)		0.65	0.83	1.48
Current Ratio (Current Asset/Current Liability)		0.67	0.68	0.77

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	1.260	1.664	1.822
Net worth	1.360	1.764	1.922
Long-term borrowings	2.008	1.463	1.244
Short term borrowings	0.000	0.000	0.000
Total borrowings	2.008	1.463	1.244
Debt/Equity ratio	1.476	0.829	0.647

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	20.884	22.443	15.259
		7.465	-32.010

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	20.884	22.443	15.259
Profit	0.314	0.397	0.158
	1.50%	1.77%	1.04%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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	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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
From Related Parties
Archu Textile	0.000	0.015
Fashion Creation	0.013	0.000
Janardhan H. Vaidya	0.160	0.160
Jyostna J. Vaidya	0.080	0.080
Lata Mhaskar	0.311	0.311
Sudesh J. Vaidya	0.431	0.449
Vinod Mhaskar	0.133	0.133
Total	1.128	1.148

FIXED ASSETS:

· Computer Systems

· Camera Sets

· Printer

· Furniture and Fixture

· Office Equipment

· Mobile Phones

· Machinery

· Vehicles

· Other Equipments

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

Information Gathered by :	KAM
Analysis Done by :	RAS
Report Prepared by :	BVA

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		28

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.