MIRA INFORM REPORT

Report No. :	320069
Report Date :	11.05.2015

IDENTIFICATION DETAILS

Name :	THERMA FIELD POWER COMPONENTS PRIVATE LIMITED
Registered Office :	B/9, Steel Town, Plot No. 21/22, Village : Moraiya, Taluka: Sanand, Ahmedabad – 382213, Gujarat
Tel No.:	91-79-27436112/ 27436113
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.12.2008
Com. Reg. No.:	04 - 055685
Capital Investment / Paid-up Capital :	Rs. 3.600 Million
CIN No.: [Company Identification No.]	U29113GJ2008PTC055685
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCT0820B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Induction Melting Furnace Imparts
No. of Employees :	9 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 7500
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has incurred an accumulated loss during 2014 However, trade relations are fair. Business is active. Payment terms are 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. Jagdish Patel
Designation :	Director
Contact No.:	91-9376132688
Date :	30.04.2015

LOCATIONS

Registered Office :	201, Shanti Mall, Near Petrol Pump, Satadhar Cross Road, Ghatlodia, Ahmedabad-380061, Gujarat, India
Tel. No.:	91-79-27436112/ 27436113
Mobile No.:	91-9376132688 (Mr. Jagdish)
Fax No.:	91-7927436113
E-Mail :	fieldmeatgroup@gmail.com terhmafield@gmail.com mukeshca03@yahoo.com
Area :	700 sq. ft.
Location :	Owned
Factory 1 :	Block : B/9, Plot.: 21/22, Oppsite: Unison Pharma, Steel Town, Sarkhej – Bavla Highway, Ahmedabad – 382213, Gujarat, India
Area :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Jagdishkumar Dudhagara

Designation :

Director

Address :

E-303 Sector 5, Sun City, Bopal, Ahmedabad – 380058, Gujarat, India

Date of Appointment :

16.12.2008

DIN No.:

02311538

Name :

Mr. Rohitkumar Patel

Designation :

Director

Address :

201, Shanti Mall Near Petrol Pump, Satadhar Cross Road Ghatlodia, Ahmedabad – 380061, Gujarat, India

Date of Appointment :

16.12.2008

DIN No.:

02327049

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	U29113GJ2008PTC055685	THERMA FIELD POWER COMPONENTS PRIVATE LIMITED	Director	16/12/2008	16/12/2008	-	Active	NO
2	U29100GJ2012PTC069272	FIELDMAN SENSORS PRIVATE LIMITED	Director	02/03/2012	02/03/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Jagdishkumar Dudhagara	62500	17.36
Rohitkumar Patel	92500	25.69
Dashrathbhai Natvarlal Patel	25000	6.94
Harchand Sabaji Badgujar	90000	25.00
Kantaben Anilbhai Vachhani	90000	25.00
Total	360000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Induction Melting Furnace imparts
Products :	Induction melting furnace spare parts Scridiodes, IGBT Semiconductor fuse and assembly HFT,CLR, Furnace Switch, Blade And Water Cooled Cabel W.W Fiesistors, Control Transformer, Snubber Components Carbon Free Hose, Pump, Cylinder, PHE and Seal Kit Potential sensor, Temp.sensor, Hydraulic and pneumatic valve switches
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
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 :	Not Divulged
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 :

9 (Approximately)

Bankers :

Banker Name	Bank of India
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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Term Loan From Bank	0.622	1.044
Short Term Borrowing
Cash Credit Facility from Bank	1.587	1.796
Total	2.209	2.840

Auditors :
Name :	M.V. Prajapati and Company Chartered Accountant
Address :	A – 408, Titenium Square, Near Thaltej cross Road, Thaltej, Ahmedabad – 380059, Gujarat, India
PAN No.:	AMCPP1166G
Memberships :	--
Collaborators :	--
Related Parities:	Fieldman Control Systems Fieldman Sensors and Instrument Fieldman Sensors Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
360,000	Equity Shares	Rs.10/- each	Rs. 3.600 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
360,000	Equity Shares	Rs.10/- each	Rs. 3.600 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	3.600	2.500	2.500
(b) Reserves & Surplus	(0.947)	(0.989)	(1.068)
(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)	2.653	1.511	1.432
(3) Non-Current Liabilities
(a) long-term borrowings	0.622	1.044	1.874
(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)	0.622	1.044	1.874
(4) Current Liabilities
(a) Short term borrowings	3.512	3.096	3.063
(b) Trade payables	1.865	0.985	0.153
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.314	0.247	0.000
Total Current Liabilities (4)	5.691	4.328	3.216
TOTAL	8.966	6.883	6.522
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.220	2.523	2.735
(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)	0.020	0.022	0.025
(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	2.240	2.545	2.760
(2) Current assets
(a) Current investments
(b) Inventories	4.661	2.370	1.462
(c) Trade receivables	0.948	1.173	1.654
(d) Cash and cash equivalents	0.016	0.113	0.189
(e) Short-term loans and advances	1.101	0.682	0.457
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	6.726	4.338	3.762
TOTAL	8.966	6.883	6.522

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	10.185	11.030	N.A
		Other Income	0.161	0.232	N.A
		TOTAL	10.346	11.262	N.A
Less	EXPENSES
		Cost of Materials Consumed
		Purchases of Stock-in-Trade	9.173	9.327	N.,A
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.290)	(0.908)	N.A
		Employees benefits expense	1.245	1.059	N.A
		Other expenses	1.404	0.754	N.A
		TOTAL	9.532	10.232	N.A
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.814	1.030	N.A
Less	FINANCIAL EXPENSES		0.397	0.519	N.A
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.417	0.511	N.A
Less/ Add	DEPRECIATION/ AMORTISATION		0.373	0.430	N.A
	PROFIT BEFORE TAX		0.044	0.081	0.054
Less	TAX		0.003	0.002	0.005
	PROFIT AFTER TAX		0.041	0.079	0.049
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.989)	(1.068)	(1.117)
	BALANCE CARRIED TO THE B/S		(0.948)	(0.989)	(1.068)
	Earnings Per Share (Rs.)		0.11	0.22	0.14

Expected Sales ( 2014-2015) : Rs.18.000 Million

The above information has been parted by Mr. Jagdish Patel

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.40	0.73	N.A
Operating Profit Margin (PBDIT/Sales)	(%)	7.99	9.35	N.A
Return on Total Assets (PBT/Total Assets}	(%)	0.49	1.20	0.83
Return on Investment (ROI) (PBT/Networth)		0.02	0.05	0.04
Debt Equity Ratio (Total Debt /Networth)		1.56	2.74	3.45
Current Ratio (Current Asset/Current Liability)		1.18	1.00	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	2.500	2.500	3.600
Reserves & Surplus	(1.068)	(0.989)	(0.947)
Net worth	1.432	1.511	2.653
long-term borrowings	1.874	1.044	0.622
Short term borrowings	3.063	3.096	3.512
Total borrowings	4.937	4.140	4.134
Debt/Equity ratio	3.448	2.740	1.558

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	11.030	10.185
		(7.661)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	11.030	10.185
Profit	0.079	0.041
	0.72%	0.40%

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)	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	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Loans repayable on demand from others
From relatives of Directors/others	1.925	1.300
Total	1.925	1.300

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10210485	15/03/2010	4,950,000.00	BANK OF INDIA	KAILASH AVENUE, SHOP NO 1 & 2, CHANGODAR, TA SANA ND, AHMEDABAD, GUJARAT - 382213, INDIA	A82613464

* Date of charge modification

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Computer Assets
• Furniture and Fixtures
• 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 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.64.05
UK Pound	1	Rs.99.04
Euro	1	Rs.71.76

INFORMATION DETAILS

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

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	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.