MIRA INFORM REPORT

Report No. :	317442
Report Date :	14.05.2015

IDENTIFICATION DETAILS

Name :	M S DECORATORS PRIVATE LIMITED
Registered Office :	A-1/12, W. H. S. Kirti Nagar, New Delhi - 110015
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.06.1982
Com. Reg. No.:	55-013893
Capital Investment / Paid-up Capital :	Rs. 3.107 Million
CIN No.: [Company Identification No.]	U74899DL1982PTC013893
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 :	Subject is engaged in the business of interior decoration
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Management of the company has failed to file its financial with the government department after FY 2012. As per the financials of year 2012, the general position of the subject seems to be fair. However business is active as per the status in the registrar of companies. Payment terms are unknown. In the view of lack of latest financial information, the company can be considered for business dealing on safe and secure trade terms and condition.

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 DECLINED

Management non co-operative

LOCATIONS

Registered Office :	A-1/12, W. H. S. Kirti Nagar, New Delhi – 110015, India
Tel. No.:	Not Available
Fax No.:	Not Available
Email :	monishuppal@yahoo.com sunita_and_chadha2003@yahoo.co.in

DIRECTORS

As on 28.09.2012

Name :	Mr. Mohan Lal Sharma
Designation :	Director
Address :	B – 5/77 Paschim Vihar, New Delhi, India
Date of Birth/Age :	01.03.1932
Date of Appointment :	21.06.1982
DIN No.:	01351523
Name :	Mr. Ashok Sharma
Designation :	Director
Address :	A-3 178, PAschim Vihar, New Delhi, India
Date of Birth/Age :	27.10.1957
Date of Appointment :	21.06.1982
DIN No.:	00836325
Name :	Mr. Satish Kumar Sharma
Designation :	Director
Address :	B-5-77, PAschim Vihar, New Delhi, India
Date of Birth/Age :	01.01.1963
Date of Appointment :	21.06.1982
DIN No.:
Name :	Mr. Nirmal Sharma
Designation :	Director
Address :	A-3/178, Paschim vihar, New Delhi, India
Date of Birth/Age :	06.06.1957
Date of Appointment :	21.06.1982
DIN No.:

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares	%age
Ashok Sharma	11960	38.49
Satish Kumar Sharma	6110	19.67
Bvimla Sharama	10600	34.12
Anita Sharama	2400	7.72
Total	31070	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 :	Subject is engaged in the business of interior decoration
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

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 :

Not Divulged

Bankers :

• Union Bank of India, 26/2, East Patel Nagar, New Delhi – 11008, India
• DBS Bank Limited, Upper Ground floor, Birla Tower, 25, Barakhamba Road, New Delhi – 110001,India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWING
From IDBI Bank – In tem loan account	1.105	7.737
From standard chartered bank –in term loan account	24.964	7.544
From ICICI Bank Limited- in Car Loan account	0.099	0.490
From HDFC Bank – in car loan account	3.779	4.777
From axis Bank – in car loan account	0.446	0.000
From TATA Motor Finance Limited in car loan account	0.000	0.026
SHORT TERM BORROWING
From IDBI bank in cash credit account	131.279	98.878
From ICICI Bank Limited in cash credit account	0.00	19.967
From Union Bank of India v	26.147	0.000
Total	187.819	139.419

Auditors :
Name :	Sunita And Chadha Chartered Accountants
Address :	Flat No.77, Bhagat Singh Market, New Delhi – 110001, India
PAN No.:	AABFS6939F
Memberships :	Not Available
Collaborators :	Not Available
Related Party :	A N Trader Private Limited

CAPITAL STRUCTURE

As on 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.100/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.100/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
31,070	Equity Shares	Rs.10/- each	Rs. 3.107 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3.107	2.957
(b) Reserves & Surplus	208.564	169.895
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	7.500
Total Shareholders’ Funds (1) + (2)	211.671	180.352
(3) Non-Current Liabilities
(a) long-term borrowings	30.393	20.574
(b) Deferred tax liabilities (Net)	0.000	0.110
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	30.393	20.684
(4) Current Liabilities
(a) Short term borrowings	157.426	118.845
(b) Trade payables	205.346	181.960
(c) Other current liabilities	142.702	92.747
(d) Short-term provisions	0.450	3.100
Total Current Liabilities (4)	505.924	396.652
TOTAL	747.988	597.688
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	90.803	94.150
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	76.950	55.250
(c) Deferred tax assets (net)	0.284	0.000
(d) Long-term Loan and Advances	17.873	2.355
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	185.910	151.755
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	390.158	219.199
(c) Trade receivables	89.955	164.289
(d) Cash and cash equivalents	23.497	24.547
(e) Short-term loans and advances	56.765	36.568
(f) Other current assets	1.703	1.330
Total Current Assets	562.078	445.933
TOTAL	747.988	597.688

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.957
2] Share Application Money		7.500
3] Reserves & Surplus		143.732
4] (Accumulated Losses)		0.000
NETWORTH		154.189
LOAN FUNDS
1] Secured Loans		86.476
2] Unsecured Loans		0.000
TOTAL BORROWING		86.476
DEFERRED TAX LIABILITIES		0.000
TOTAL		240.665
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		61.546
Capital work-in-progress		0.000
INVESTMENT		27.300
DEFERREX TAX ASSETS		0.969
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	228.252
	Sundry Debtors	67.873
	Cash & Bank Balances	39.893
	Other Current Assets	0.926
	Loans & Advances	56.246
Total Current Assets		393.190
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	241.765
	Provisions	0.575
Total Current Liabilities		242.340
Net Current Assets		150.850
MISCELLANEOUS EXPENSES		0.000
TOTAL		240.665

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012	31.03.2011	31.03.2010
	SALES
	Income	726.070	610.015	541.731
	Other Income	2.500	0.680	0.423
	TOTAL (A)	728.570	610.695	542.154
Less	EXPENSES
	Cost of Materials Consumed	638.570	398.813	341.385
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(164.097)	7.830	0.000
	Employees benefits expense	139.077	113.960	88.353
	Other expenses	24.827	21.823	22.233
	Work contract service tax paid	0.000	0.000	29.249
	director remuneration	0.000	0.000	3.300
	Payment to auditor	0.000	0.000	0.100
	TOTAL (B)	638.377	542.426	484.620
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	90.193	68.269	57.534
Less	FINANCIAL EXPENSES (D)	30.886	20.823	15.778
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	59.307	47.446	41.756
Less/ Add	DEPRECIATION/ AMORTISATION (F)	11.425	6.793	3.321
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	47.882	40.653	38.435
Less	TAX (I)	16.564	14.490	13.191
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	31.318	26.163	25.244
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	112.447	88.900	66.180
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	2.616	2.524
	Total (M)	0.000	2.616	2.524
	Balance Carried to the B/S (J+K+L-M)	143.765	112.447	88.900
	Earnings / (Loss) Per Share (Rs.)	1008.01	884.78	504.88

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT/Sales)	(%)	4.31	4.29	4.66
Operating Profit Margin (PBDIT / Sales)	(%)	12.42	11.19	10.62
Return on Total Assets (PBT/Total Assets}	(%)	7.14	7.49	7.97
Return on Investment (ROI) (PBT/Networth)		0.23	0.23	0.25
Debt Equity Ratio (Total Debt /Networth)		0.89	0.77	0.56
Current Ratio (Current Asset/Current Liability)		1.11	1.12	1.74

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2.957	2.957	3.107
Reserves & Surplus	143.732	169.895	208.564
share application money pending allotment	7.500	7.500	0.000
Net worth	154.189	180.352	211.671
long-term borrowings	86.476	20.574	30.393
Short term borrowings	0.000	118.845	157.426
Total borrowings	86.476	139.419	187.819
Debt/Equity ratio	0.561	0.773	0.887

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	541.731	610.015	726.070
		12.605	19.025

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	541.731	610.015	726.070
Profit	25.244	26.163	31.318
	4.66%	4.29%	4.31%

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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	No
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	10459349	27/09/2013	270,000,000.00	THE RATNAKAR BANK LIMITED	SHAHUPURI,KOLHAPUR,, VYPARI PETH, KOLHAPUR, Maharashtra - 416001, INDIA	B89205710
2	10368302	20/07/2012	3,000,000.00	UNION BANK OF INDIA	U.L.P, PASCHIM VIHAR, NEW DELHI, Delhi - 110063,  INDIA	B44797504
3	10349250	28/12/2013 *	401,200,000.00	UNION BANK OF INDIA	26/2, EAST PATEL NAGAR, NEW DELHI, Delhi - 110008,  INDIA	B93766889
4	10285403	13/09/2013 *	120,000,000.00	UNION BANK OF INDIA	26/2, EAST PATEL NAGAR, NEW DELHI, Delhi - 110008,  INDIA	B86523164
5	10225943	03/02/2012 *	220,000,000.00	IDBI Bank Limited	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA	B33344664
6	10153654	26/08/2010 *	204,200,000.00	IDBI Bank Limited	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA	A96529714

* Date of charge modification

FIXED ASSETS

• Machinery
• Plant and Machinery
• Factory Land
• Furniture and fixture
• Computer
• Vehicle

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.64.20
UK Pound	1	Rs.100.03
Euro	1	Rs.71.91

INFORMATION DETAILS

Information Gathered by :	JML/RKH
Analysis Done by :	SAN
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	2
--CREDIT LINES	1~10	1
--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		12

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.