MIRA INFORM REPORT

Report No. :	320743
Report Date :	07.05.2015

IDENTIFICATION DETAILS

Name :	WELCOME ENVIRO ENGINEERS PRIVATE LIMITED
Registered Office :	115, Amber Tower, Commercial Complex, Azadpur, Delhi -110033
Tel. No.:	91-11-27670502
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.07.2005
Com. Reg. No.:	55-139115
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U29299DL2005PTC139115
TAN No.: [Tax Deduction & Collection Account No.]	DELW01488E
PAN No.: [Permanent Account No.]	AAACW5959K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Waste Water Treatment Plant Accessories.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 5800
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 small 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 (GENERAL DETAILS)

Name :	Mr. Argirish
Designation :	General Manager
Contact No.:	91-9313737277
Date :	04.05.2015

LOCATIONS

Registered Office :	115, Amber Tower, Commercial Complex, Azadpur, Delhi -110033, India
Tel. No. :	91-11-27670502
Mobile No. :	91-93-13737277 (Mr. Argirish) 91-9310338808/ 9313458808 (Mr. Kamal Dutt)
Fax No. :	91-11-25776335
E-Mail :	delhi@weepl.com
Website :	www.weepl.com
Area :	3000 Sq. Ft.
Location :	Owned
Factory :	Plot No. 1736, Rai Industrial Estate, Rai, Sonepat, Haryana, India
E-Mail :	delhi@weepl.com kamaldutt2003@yahoo.com welcomeexports@gmail.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Manoj Bakshi
Designation :	Director
Address :	B-59/B, Vijay Nagar, Delhi-110009, India
Date of Birth/Age :	30.07.1969
Date of Appointment :	27.07.2005
DIN No. :	00235771
Name :	Mr. Kamal Dutt
Designation :	Director
Address :	5D, Block U and V, Shalimar Bagh, Delhi-110088, India
Date of Birth/Age :	27.09.1961
Date of Appointment :	01.04.2006
DIN No. :	00236058

KEY EXECUTIVES

Name :	Mr. Argirish
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Manoj Bakshi	25000	50.00
Roma Dutt	15000	30.00
Chanda Bakshi	5000	10.00
Kamal Dutt	5000	10.00
Total	50000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Waste Water Treatment Plant Accessories

Products :

Fine Bubble Tube Aerator	Surface Aerator
Fine Bubble Vertical Diffuser	Sludge De-Watering System
Coarse Bubble Membrane Aerator	Effluent Treatment Plant
Fine Bubble Disc Aerator Diffuser	Water Treatment Plant
Roots Blower	Drinking Water Treatment Plant
Tube Pac Media	Mineral Water Treatment Plant
Bio Pac Media	Sewage Water Treatment Plant
Fill Pac Media	Reverse Osmosis Plant
Filter Press	Customized UV Plant
Rubber Expansion Joints	Industrial RO Plant
Tube Settler Media	Coarse Bubble Diffuser
Fab Media	Fine Pipe Diffuser
MBBR Media	Waste Water Treatment Plant
DM Plant	Demineralization Plant
Dual-Media Filter	Customized RO Plant
Ultra Filter

Brand Names :

---

Agencies Held :

---

Exports :

Products :

Waste Water Treatment Plant

Countries :

· Middle East

· Bangladesh

Imports :

Products :

Raw Materials

Countries :

· China

· Japan

· Germany

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

30 (Approximately)

Bankers :

Bank Name:	Bank of India
Branch:	Kamla Nagar Branch, 29-A, Kamla Nehru Road, Kamla Nagar, Delhi – 110007, Delhi, India
Name of the Person (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

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Vehicle Loans	0.255	0.679
SHORT TERM BORROWINGS
Cash Credits from Banks	2.128	2.126
Total	2.383	2.805

NOTE

LONG TERM BORROWINGS

· Term Loan in the form of working capital overdraft limit taken in F Y 2010-11 from Banks of India are secured by equitable mortgage on the property of a director of the company situated at Shalimar Bagh, Delhi. The same carry interest @ 3.75% over base rate on monthly rest and repayable as per terms agrred with the banks in 35 instalment of Rs.85715/- each. The entire WCTL from Bank of India has been repaid in F Y 2013-14.

· Term Loan taken in F Y 2011-12 from Barclays Bank PLC carry interest @ 18% p.a. on a monthly reducing balance (fixed) and repayable as per terms agrred with the banks in 60 equal instalments from the due date i.e. 05/11/2011.

· Vehicle loans are secured against hypothecation of motor vehicles purchased thereunder which are repayable on different dates as per terms.

SHORT TERM BORROWINGS

Cash Credit facility from bank together with interest and other charges thereon is secured by way of hypothecation of stock and book debts and collaterally secured by the LIC policies, NSCs and TDRs of directors and also personally guaranteed by the directors of the Company. Cash Credit facility is repayable on demand and carries @ 3.75% over base rate on monthly rest.

Banking Relations :	--
Auditors :
Name :	Nahata Jain and Associates Chartered Accountants
Address :	13B, 3^rd Floor, Above Central Bank of India, Netaji Subhash Marg, Daryaganj, New Delhi -110002, India
Tel. No. :	91-22-23262052,41564161
Entities over which company or managerial personnel or their relative exercise significant influence :	Welcome Engineers

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	0.500 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	0.500	0.500	0.500
(b) Reserves & Surplus	1.528	1.322	1.145
(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)	2.028	1.822	1.645
(3) Non-Current Liabilities
(a) Long-term Borrowings	0.881	1.618	2.824
(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)	0.881	1.618	2.824
(4) Current Liabilities
(a) Short term Borrowings	2.657	4.000	6.447
(b) Trade Payables	8.289	5.580	2.978
(c) Other Current Liabilities	3.390	3.506	4.517
(d) Short-Term Provisions	0.000	0.000	0.000
Total Current Liabilities (4)	14.336	13.086	13.942
TOTAL	17.245	16.526	18.411
II. ASSETS
(1) Non-Current Assets
(a) Fixed Assets
(i) Tangible Assets	3.781	1.424	1.821
(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)	0.105	0.122	0.081
(d) Long-Term Loan and Advances	0.472	0.433	0.448
(e) Other Non-Current Assets	0.000	0.000	0.128
Total Non-Current Assets	4.358	1.979	2.478
(2) Current Assets
(a) Current Investments	0.000	0.000	0.000
(b) Inventories	2.603	4.578	5.061
(c) Trade Receivables	7.456	7.748	8.964
(d) Cash and Cash Equivalents	1.963	1.038	0.705
(e) Short-Term Loans and Advances	0.861	1.177	1.203
(f) Other Current Assets	0.004	0.006	0.000
Total Current Assets	12.887	14.547	15.933
TOTAL	17.245	16.526	18.411

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TURNOVER AND RECEIPTS	29.671	24.588	23.396
Less	EXPENSES	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)	0.767	0.599	(1.388)
Less/ Add	DEPRECIATION/ AMORTISATION	0.543	0.464	0.437
	PROFIT/ (LOSS) BEFORE TAX (E-F)	0.224	0.135	(1.825)
Less	TAX	0.018	(0.042)	(0.045)
	PROFIT/ (LOSS) AFTER TAX (G-H)	0.206	0.177	(1.780)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	1.123	0.946	2.726
	BALANCE CARRIED TO THE B/S	1.329	1.123	0.946
	EARNINGS IN FOREIGN CURRENCY	2.048	0.795	0.415
	Earnings / (Loss) Per Share (Rs.)	4.13	3.54	(35.60)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	1.31	0.82	(9.96)
Return on Investment (ROI) (PBT/Networth)		0.11	0.07	(1.11)
Debt Equity Ratio (Total Debt/Networth)		1.74	3.08	5.64
Current Ratio (Current Asset/Current Liability)		0.90	1.11	1.14

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	0.500	0.500	0.500
Reserves & Surplus	1.145	1.322	1.528
Net worth	1.645	1.822	2.028
Long-term Borrowings	2.824	1.618	0.881
Short-term Borrowings	6.447	4.000	2.657
Total borrowings	9.271	5.618	3.538
Debt/Equity Ratio	5.636	3.083	1.745

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)
Turnover and Receipts	23.396	24.588	29.671
		5.095	20.673

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Turnover and Receipts	23.396	24.588	29.671
Profit/(Loss)	(1.780)	0.177	0.206
	(7.61%)	0.72%	0.69%

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	Yes
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	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

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10251718	30/10/2010	6,000,000.00	BANK OF INDIA	KAMLA NAGAR BRANCH, 29-A,KAMLA NEHRU ROAD, KAMLA  NAGAR, DELHI, DELHI - 110007, INDIA	A99282121
2	10180151	01/10/2009	420,000.00	BANK OF INDIA	KAMLA NAGAR BRANCH, 29-A,KAMLA NEHRU ROAD, KAMLA  NAGAR, DELHI, DELHI - 110007, INDIA	A71478820
3	10166034	04/06/2009	592,454.00	BANK OF INDIA	KAMLA NAGAR BRANCH, 29-A,KAMLA NEHRU ROAD, KAMLA  NAGAR, DELHI, DELHI - 110007, INDIA	A65523227
4	10035581	30/10/2010 *	4,000,000.00	BANK OF INDIA	KAMLA NAGAR BRANCH, 29-A,KAMLA NEHRU ROAD, KAMLA  NAGAR, DELHI, DELHI - 110007, INDIA	A99281214
5	10053272	30/10/2010 *	5,000,000.00	BANK OF INDIA	KAMLA NAGAR BRANCH, 29-A,KAMLA NEHRU ROAD, KAMLA  NAGAR, DELHI, DELHI - 110007, INDIA	A99281636
6	10035904	19/01/2007	500,000.00	Bank of India	KAMLA NAGAR, NEW DELHI, DELHI - 110007, INDIA	A10391084

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Term Loans (Taken from Barclays Bank PLC)	0.626	0.939
SHORT TERM BORROWINGS
From related parties Repayable on Demand	0.529	1.874
Total	1.155	2.813

CHANGE OF ADDRESS

The registered office of the company has been shifted from CB-186A, Naraina Ring Road, New Delhi-110028, Delhi, India to the present address w.e.f 01.04.2013

.

FIXED ASSETS

· Air Conditioner

· Car

· Cellular Phone

· Computer

· Furniture and Fixture

· Generator

· Machine and Tools

· Office Equipment

· Plant and Machinery

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. 63.88
UK Pound	1	Rs. 97.21
Euro	1	Rs. 72.51

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	RAS
Report Prepared by :	IND

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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.