MIRA INFORM REPORT

Report No. :	320044
Report Date :	13.05.2015

IDENTIFICATION DETAILS

Name :	NESA PUMPS PRIVATE LIMITED
Registered Office :	C-1/24, G.I.D.C. Estate, Noroda, Phase-II, Opposite Dipak Oil Mill, NR. Bank of Baroda, Amedabad - 382330, Gujarat
Tel. No.:	91-79-22805058
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.04.2013
Com. Reg. No.:	04-074454
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U29120GJ2013PTC074454
IEC No.:	Not Available
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, Exporter, Wholesaler, Distributer, Supplier and trader of submersible pump, centrifugal pumps, electric motor, submersible irrigation pumps, water pumps, Bore well pumps, etc.
No. of Employees :	10 (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 2300
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track. It is the company first year of business operation and the company has achieved a sizeable turnover from its first year operation however profit margin of the company is low. However, trade relation are reported to be fair. Business is active. Payment terms ae 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

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 (GENERAL INFORMATION)

Name :	Mr. Jayesh Shah
Designation :	Director
Contact No.:	91-9427326054
Date :	29.04.2015

LOCATIONS

Registered Office/Factory :	C-1/24, G.I.D.C. Estate, Noroda, Phase-II, Opposite Dipak Oil Mill, NR. Bank of Baroda, Amedabad - 382330, Gujarat
Tel. No.:	91-79-22805058
Mobile No.:	91-9427326054 (Mr. Jayesh)
Fax No.:	91-79-22805059
E-Mail :	suppoprt@nesapumps.com
Area :	Owned
Location :	Industrial

DIRECTORS

As on 07.07.2014

Name :	Mr. Bharatkumar Somabhai Patel
Designation :	Director
Address :	107/, Thacharaaj Nagar Co Society, Nr. Parma hoapital, Mansa, Gandhinagar, Ahmedabad - 382845, Gujarat, India
Date of Birth/Age :	14.06.1976
Date of Appointment :	11.04.2013
DIN No.:	06527840
Name :	Mr. JayeshKumar Ratilaal Shah
Designation :	Director
Address :	B/1, Parth Apartment, Juna Wadaj, Ahmedabad - 380013, Gujarat, India
Date of Birth/Age :	04.09.1965
Date of Appointment :	11.04.2013
DIN No.:	06527804
Name :	Mr. Vishal Vishnubhai Patel
Designation :	Director
Address :	41, Gangadhar Society, Near Nishkam Seva Mandal, Smashangruh, Hansol, Naroda, Ahmedabad - 382475, Gujarat, India
Date of Birth/Age :	16.08.1987
Date of Appointment :	11.04.2013
DIN No.:	06527863

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 07.07.2014

Names of Shareholders	No. of Shares
Bharatkumar S patel	3990
Jayeshbhai R Shah	3970
Vishal V Patel	1970
Alkeshbhai J shah	10
Bharatbhai B Patel	10
Devyaniben Patel	10
Geetaben V Patel	10
Kumarpal V Shah	10
Shilpaben A Shah	10
V.K. Patel and Company	10
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	99.60
Other top fifty shareholders	0.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Wholesaler, Distributer, Supplier and trader of submersible pump, centrifugal pumps, electric motor, submersible irrigation pumps, water pumps, Bore well pumps, etc.
Products :	Submersible Pumps o Stainless Steel Submersible Pumps o Horizontal Open well Submersible Pumps o Vertical Open well Submersible Pumps o Mini Open well Submersible Pumps o Monoblock Submersible Pumps o Domestic Submersible Pumps o Sewage Submersible Pumps o Dewatering Submersible Pumps o Three Phase Submersible Pumps o Single Phase Submersible Pumps Centrifugal Pumps o High Pressure Centrifugal Pumps Electric Motor o General Electric Motor o Industrial Electric Motor Other Pumps o Submersible Irrigation Pumps o Water Pumps o Bore well Pumps o Tube well Pumps Electric Control Motor Submersible Motor
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Advance Payment, Credit
Purchasing :	Advance Payment, 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 :

10 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Ahmedabad - 380009 Gujarat, 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 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 Millions)

SECURED LOAN	As on 31.03.2014
Long Term Borrowing
ICICI Bank Limited-Motor Car Loan-00026793207	0.184
ICICI Bank Limited-Motor Car Loan-00027173873	0.218
Short Term Borrowing
ICICI Bank Limited-Motor Car Loan-00026793207	0.183
ICICI Bank Limited-Motor Car Loan-00027173873	0.146
Total	0.731

Auditors :
Name :	Parimal S Shah and Company Chartered Accountant
Address :	104-105/B, Anand Chambers, Near Old High Court, Opposite Muktajivan Color Lab, Navrangpura, Ahmedabad - 380009, Gujarat, India
PAN No.:	ABIPS9324C
Memberships :	Not Available
Collaborators :	Not Available --
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 07.07.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	0.732
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.832
(3) Non-Current Liabilities
(a) long-term borrowings	8.877
(b) Deferred tax liabilities (Net)	0.020
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	8.897
(4) Current Liabilities
(a) Short term borrowings	0.328
(b) Trade payables	22.487
(c) Other current liabilities	2.895
(d) Short-term provisions	0.377
Total Current Liabilities (4)	26.087
TOTAL	35.816
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.662
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	6.165
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	2.253
(e) Other Non-current assets	0.000
Total Non-Current Assets	12.080
(2) Current assets
(a) Current investments
(b) Inventories	8.661
(c) Trade receivables	1.183
(d) Cash and cash equivalents	11.716
(e) Short-term loans and advances	2.176
(f) Other current assets	0.000
Total Current Assets	23.736
TOTAL	35.816

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	91.615
		Other Income	0.299
		TOTAL	91.914
Less	EXPENSES
		Cost of Materials Consumed	71.516
		Employees benefits expense	3.360
		Other expenses	14.846
		TOTAL	89.722
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2.192
Less	FINANCIAL EXPENSES		0.482
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.710
Less/ Add	DEPRECIATION/ AMORTISATION		0.564
	PROFIT BEFORE TAX		1.146
Less	TAX		0.414
	PROFIT AFTER TAX		0.732
	Earnings Per Share (Rs.)		73.18

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Sales)	(%)	0.80
Operating Profit Margin (PBDIT / Sales)	(%)	2.39
Return on Total Assets (PBT/Total Assets}	(%)	3.86
Return on Investment (ROI) (PBT/Networth)		1.38
Debt Equity Ratio (Total Debt /Networth)		11.06
Current Ratio (Current Asset/Current Liability)		0.91

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 One years	Yes
12]	Profitability for last One 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	Yes
24]	Banking facility details	No
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	Yes
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
Long Term Borrowing
Unsecured Loan	8.475
Total	8.475

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10528708	17/10/2014 *	9,800,000.00	State Bank of India	Small Enterprise Cell, R-II, C.G. Road Br Premises , Shyam Gokul, A-24, Swastik Society,, Ahmedabad, Gujarat - 380009, INDIA	C33965211

* Date of charge modification

FIXED ASSETS

• Air Conditioner
• Barcode Printer
• CCTV and Camera
• Electric Installation
• Fan
• Furniture and Fixture
• Hand Pallate Truck
• Motor Car
• Plant and machinery
• Weight and Scale
• Testing Equipments
• Pattern
• Testing Hodge
• Water Dispenser

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.64.18
UK Pound	1	Rs.100.57
Euro	1	Rs.72.07

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	RKI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
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	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		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.