MIRA INFORM REPORT

Report No. :	314537
Report Date :	31.03.2015

IDENTIFICATION DETAILS

Name :	ARTEMIS ELECTRICALS PRIVATE LIMITED
Registered Office :	Artemis Complex, Gala No. 105 and 108, National Express Highway, Vasai (East), Thane – 401208, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.10.2009
Com. Reg. No.:	11-196683
Capital Investment / Paid-up Capital :	Rs. 23.891 Million
CIN No.: [Company Identification No.]	U51505MH2009PTC196683
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMA36652A
PAN No.: [Permanent Account No.]	AAICA0014B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Importing of Electrical, Electronic and Instrumentation items, LED Package and LED Lighting Products, Lamps, Street Lights, Display Panels Modules, Electronic Products.
No. of Employees :	60 (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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has accoumulated losses. However, trade relations are fair. Business is active. Payments 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

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. Pankaj Gupta
Designation :	I.T. Head
Contact No.:	91-7875315577
Date :	24.03.2015

LOCATIONS

Registered Office/ Factory :	Artemis Complex, Gala No. 105 and 108, National Express Highway, Vasai (East), Thane – 401208, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-7875315577 (Mr. Pankaj Gupta)
Fax No.:	Not Available
E-Mail :	admin@pkhs.in
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sudhir Brijendra Agarwal

Designation :

Director

Address :

B1, B Wing, Row House, Sarnath Chs Limited, Upper Govind Nagar, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

01.01.1970

Date of Appointment :

26.10.2009

DIN No.:

00845329

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	U63040MH1984PTC034841	DEEPA TRAVEL PRIVATE LIMITED	Director	01/07/1995	01/07/1995	-	Active	NO
2	U62100MH1999PTC117985	GARUDA AVIATION SERVICES PRIVATE LIMITED	Director	22/01/1999	22/01/1999	-	Active	NO
3	U55100MH2000PTC125158	P.K.HOSPITALITY SERVICES PRIVATE LIMITED	Director	23/03/2000	23/03/2000	-	Active	NO
4	U14106MH2004PTC149373	P.K. EXPLORATIONS AND MINES PRIVATE LIMITED	Director	03/11/2004	03/11/2004	-	Active	NO
5	U45200MH2004PTC149996	YASHVIKRAM INFRASTRUCTURE PRIVATE LIMITED	Director	14/12/2004	14/12/2004	-	Active	NO
6	U45205MH2007PTC172508	MAKINDIAN FOODS PRIVATE LIMITED	Director	19/07/2007	19/07/2007	-	Active	NO
7	U55209MH2007PTC173030	AROMA COFFEES PRIVATE LIMITED	Director	10/08/2007	10/08/2007	31/03/2014	Active	NO
8	U92130MH2009PTC189324	GARUDA TELEVISION PRIVATE LIMITED	Director	02/01/2009	02/01/2009	-	Active	NO
9	U31400MH2009PTC194067	ARTEMIS OPTO ELECTRONIC TECHNOLOGIES PRIVATE LIMITED	Director	14/07/2009	14/07/2009	-	Active	NO
10	U51505MH2009PTC196683	ARTEMIS ELECTRICALS PRIVATE LIMITED	Director	26/10/2009	26/10/2009	-	Active	NO
11	U31901MH1998PTC112850	ELECTROPLAST INDIA PRIVATE LIMITED	Director	30/09/2010	16/01/2010	-	Active	NO
12	U51909MH2010PTC204214	ELECTRO FORCE (INDIA) PRIVATE LIMITED	Director	23/08/2010	23/08/2010	-	Active	NO
13	U31908MH2010PTC206656	GALLIC ELECTRO TECHNOLOGIES PRIVATE LIMITED	Director	23/08/2010	23/08/2010	-	Active	NO
14	U45400MH2010PTC207963	GARUDA CONSTRUCTION AND ENGINEERING PRIVATE LIMITED	Director	21/09/2010	21/09/2010	-	Active	NO
15	U65923MH2010PTC209858	AYESSPEA HOLDINGS AND INVESTMENTS Private Limited	Director	08/11/2010	08/11/2010	-	Active	NO
16	U31900MH2010PTC210652	GLS ELECTROVISION PRIVATE LIMITED	Director	06/12/2010	06/12/2010	30/03/2012	Active	NO
17	U92490MH2011PLC213950	P.K. GLOBAL AMUSEMENT PARK LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
18	U26960MH2011PLC217465	VINAYAK CEMENT CORPORATION LIMITED	Director	13/05/2011	13/05/2011	-	Active	NO
19	U31200MH2013PTC247437	Dforce Electro Werke Private Limited	Director	23/08/2013	23/08/2013	-	Active	NO
20	U60231MH2011PTC224315	P.K. GLOBAL LOGISTICS (INDIA) PRIVATE LIMITED	Director	26/05/2014	26/05/2014	-	Active	NO
21	U63033MH2007PTC169142	COMPLETE AVIATION SOLUTIONS PRIVATE LIMITED	Director	26/05/2014	26/05/2014	-	Active	NO
22	U70102MH2013PTC241529	NARROW STRUCTURES PRIVATE LIMITED	Director	23/12/2014	23/12/2014	-	Active	NO

Name :

Ms. Priti Sudhir Agarwal

Designation :

Director

Address :

B1, B Wing, Row House, Sarnath Chs Limited, Upper Govind Nagar, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

25.11.1971

Date of Appointment :

30.03.2012

DIN No.:

02449416

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	U92130MH2009PTC189324	GARUDA TELEVISION PRIVATE LIMITED	Director	02/01/2009	02/01/2009	-	Active	NO
2	U51505MH2009PTC196683	ARTEMIS ELECTRICALS PRIVATE LIMITED	Director	30/03/2012	30/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pankaj Gupta
Designation :	I.T. Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Sudhir Kumar Agarwal	6000
Yashvikram Infrastructure Private Limited, India	870000
Jyotsna Pravin Agarwal, India	8000
Shalini Alok Agarwal	6000
Ayesspa Holdings and Investments Private Limited, India	499100
Seashell Ventures Private Limited, India	1000000
Total	2389100

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	41.86
Directors or relatives of Directors	58.14
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Importing of Electrical, Electronic and Instrumentation items, LED Package and LED Lighting Products, Lamps, Street Lights, Display Panels Modules, Electronic Products.
Products :	Led bulbs
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Raw Material
Countries :	Japan
Terms :
Selling :	Credit (30 days)
Purchasing :	Credit (30 days)

GENERAL INFORMATION

Suppliers :

Reference :	Prism Electronics
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Bajaj Electronics
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

60 (Approximately)

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
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 Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Mittal Agarwal and Company Chartered Accountants
Address :	404, Madhu Industrial Park, Mogra Cross Road, Near Apollo Chamber, Andheri (East), Mumbai – 400069, Maharashtra, India
PAN No.:	AASFM3079K
Memberships :	Not Available
Collaborators :	Not Available
Associates Company :	P.K. Hospitality Services Private Limited P.K. Global Trends Private Limited Garuda Aviation Services Private Limited GLS Electrovision Privarte Limited Electroplast (India) Private Limited Electro Force (India) Private Limited AYESSPEA Holdings and Investments Private Limited Artemis Opto Electronic Technologies Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs. 10/- each	Rs. 25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2389100	Equity Shares	Rs. 10/- each	Rs. 23.891 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	23.891	13.891	13.891
(b) Reserves & Surplus	(2.533)	(4.090)	(8.517)
(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)	21.358	9.801	5.374
(3) Non-Current Liabilities
(a) long-term borrowings	13.692	22.998	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	19.538
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	13.692	22.998	19.538
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	8.733	5.982	1.982
(c) Other current liabilities	2.399	0.962	2.056
(d) Short-term provisions	1.609	3.629	1.078
Total Current Liabilities (4)	12.741	10.573	5.116
TOTAL	47.791	43.372	30.028
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11.271	11.101	12.418
(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)	0.102	0.076	2.365
(d) Long-term Loan and Advances	0.658	0.089	0.773
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.031	11.266	15.556
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	11.955	11.550	8.853
(c) Trade receivables	19.742	18.356	4.142
(d) Cash and cash equivalents	1.738	0.667	0.769
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	2.325	1.533	0.708
Total Current Assets	35.760	32.106	14.472
TOTAL	47.791	43.372	30.028

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	66.144	55.512
		Other Income	0.177	0.000
		TOTAL	66.321	55.512	8.645
Less	EXPENSES
		Cost of Materials Consumed	42.639	32.313
		Purchases of Stock-in-Trade	0.574	0.267
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.589	1.344
		Employees benefits expense	8.943	9.606
		Other expenses	10.001	2.914
		TOTAL	62.746	46.444	16.298
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		3.575	9.068	Including
					Financial
Less	FINANCIAL EXPENSES		0.135	0.000	And
					Other
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		3.440	9.068	Extraordinary
					Expenses
Less/ Add	DEPRECIATION/ AMORTISATION		1.474	1.541
Less	EXTRAORDINARY ITEMS		0.040	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX		1.926	7.527	(7.653)
Less	TAX		0.369	2.406	(2.365)
	PROFIT/ (LOSS) AFTER TAX		1.557	5.121	(5.288)
	IMPORTS
	Raw Material and Stock-in-Trade		10.883	0.000	0.000
	Total		10.883	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)		0.07	0.21	(0.22)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.35	13.55	88.53
Operating Profit Margin (PBDIT/Sales)	(%)	5.40	16.34	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.04	17.38	(27.67)
Return on Investment (ROI) (PBT/Networth)		0.09	0.77	(1.42)
Debt Equity Ratio (Total Debts/Networth)		0.64	2.35	0.00
Current Ratio (Current Asset/Current Liability)		2.81	3.04	2.83

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	13.891	13.891	23.891
Reserves & Surplus	(8.517)	(4.090)	(2.533)
Net worth	5.374	9.801	21.358
long-term borrowings	0.000	22.998	13.692
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	22.998	13.692
Debt/Equity ratio	0.000	2.346	0.641

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	8.645	55.512	66.144
		542.128	19.153

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	8.645	55.512	66.144
Profit	(5.288)	5.121	1.557
	(61.17%)	9.23%	2.35%

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	No
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)	No
21]	Market information	--------
22]	Litigations that the firm / promoter involved in	--------
23]	Banking Details	No
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 THE COMPANY.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
From Directors and Shareholders	0.892	0.198
From group members	--	--
From others	12.800	22.800
Total	13.692	22.998

FIXED ASSETS

• Plant and Machinery
• Factory Buildings
• Electrical Fittings
• Furniture and Fitting
• Computers and Printers

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. 62.63
UK Pound	1	Rs. 92.94
Euro	1	Rs. 68.06

INFORMATION DETAILS

Information Gathered by :	SUC
Analysis Done by :	KMN
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	1
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		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.