MIRA INFORM REPORT

Report No. :	320860
Report Date :	20.05.2015

IDENTIFICATION DETAILS

Name :		PIONEER INTERTRADE PRIVATE LIMTED

Registered Office :		301-303,’A’ Wing, Durian Estate, Goregaon Mulund Link Road, Goregaon (East), Mumbai - 400063, Maharashtra
Tel. No.:	91-22-66787700

Country :		India

Financials (as on) :		31.03.2014

Date of Incorporation :		17.03.2011

Com. Reg. No.:		11-214875

Capital Investment / Paid-up Capital :		Rs. 6.500 Million

CIN No.: [Company Identification No.]		U29268MH2011PTC214875

IEC No.:		0311027253

TAN No.: [Tax Deduction & Collection Account No.]		MUMP29314F

PAN No.: [Permanent Account No.]		AAFCP9483J

Legal Form :		Private Limited Liability Company

Line of Business :		Trader and Importer of Industrial Machinery.

No. of Employees :		30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B(27)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 19000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. Reserves of the company seems to be low during 2014. However, trade relation are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing at usual 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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

Name :	Ms. Manisha
Designation :	Sales Service Co-ordinator
Contact No.:	91-22-66787700
Date :	05.04.2015

LOCATIONS

Registered Office :	301-303,’A’ Wing, Durian Estate, Goregaon Mulund Link Road, Goregaon (East), Mumbai - 400063, Maharashtra
Tel. No.:	91-22-66787700
Fax No.:	Not Available
E-Mail :	prakash@pioneerintertrade.com
Website :	http://www.pioneerintertrade.com
Location :	Owned
	Commercial

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Prakash Loknath Khandelwal

Designation :

Managing Director

Address :

Hem Nivas, 87, S.V. Road, Kandivali (West), Mumbai – 400067, Maharashtra

Date of Birth/Age :

07.01.1962

Date of Appointment :

04.05.2011

DIN No.:

01234042

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	U32305MH1988PTC046204	LIPAP SYSTEMS PRIVATE LIMITED	Director	12-02-1988	12-02-1988	24-09-2010	Active	NO
2	U29268MH2011PTC214875	PIONEER INTERTRADE PRIVATE LIMITED	Managing director	04-05-2011	17-03-2011	-	Active	NO
3	U29253MH2011PTC219890	BROACHCUTTER DRILLING MACHINES PRIVATE LIMITED	Managing director	18-04-2012	18-07-2011	-	Active	NO
4	U29268MH2011PTC219894	V-MAX PLATE FABRICATION MACHINES PRIVATE LIMITED	Managing director	18-04-2012	18-07-2011	-	Active	NO
5	U29253MH2011PTC219964	FABMAX PIPE FABRICATION MACHINES PRIVATE LIMITED	Managing director	18-04-2012	20-07-2011	-	Active	NO
6	U29253MH2011PTC223121	SUPERCUT SAWS PRIVATE LIMITED	Managing director	18-04-2012	17-10-2011	-	Active	NO

Name :

Ms. Alka Prakash Khandelwal

Designation :

Director

Address :

Hem Nivas, 87, S.V. Road, Kandivali (West), Mumbai – 400067, Maharashtra

Date of Birth/Age :

28.05.1967

Date of Appointment :

17.03.2011

DIN No.:

02964370

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	Company/ LLP Status	Defaulting status
1	U29268MH2011PTC214875	PIONEER INTERTRADE PRIVATE LIMITED	Director	17-03-2011	17-03-2011	Active	NO
2	U29268MH2011PTC219894	V-MAX PLATE FABRICATION MACHINES PRIVATE LIMITED	Director	18-07-2011	18-07-2011	Active	NO
3	U29253MH2011PTC219890	BROACHCUTTER DRILLING MACHINES PRIVATE LIMITED	Director	18-07-2011	18-07-2011	Active	NO
4	U29253MH2011PTC219964	FABMAX PIPE FABRICATION MACHINES PRIVATE LIMITED	Director	20-07-2011	20-07-2011	Active	NO
5	U29253MH2011PTC223121	SUPERCUT SAWS PRIVATE LIMITED	Director	17-10-2011	17-10-2011	Active	NO

KEY EXECUTIVES

Name :	Ms. Manisha
Designation :	Sales Service Co-ordinator

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Prakash Loknath Khandelwal	645000	99.23
Alka Prakash Khandelwal	4000	0.62
Amitav Prakash Khandelwal	1000	0.15

Total	650000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Industrial Machinery.

Products/ Services :	Magnetic Drilling Machines Plate Beveling Machine Pipe Beveling machines Cold Pipe Cutting Machine Orbital Bench Pipe Saw SS Tube Cutters and Deburrers Pipe Threading Machine Rems Reciprocating Saws Pipe Fitup Clamps Copper Pipe Working Tools Atex Certified Tools etc.

Brand Names :	--

Agencies Held :	--

Exports :	Not Divulged

Imports :
Products :	Industrial Machinery
Countries :	· Italy · Germany · UK · USA · Canada

Terms :
Selling :	Cash and Cheque

Purchasing :	Cash and Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

30 (Approximately)

Bankers :

Bank Name:	Bank of Baroda
Branch:	IBB Branch, Mathru Ashish Building, S. V. Road Kandivali (West), Mumbai - 400067, Mumbai - 400067, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	26110200000851
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

· ICICI Bank, Kandivali (West), Mumbai – 400067, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
ICICI Bank Car Loan	0.510	0.651

SHORT TERM BORROWINGS
Bank Overdraft (Bank of Baroda)	8.933	8.462

Total	9.443	9.113

Auditors :
Name :	Salgia and company Chartered Accountants
Address :	1, Shankar Shambhu Sadan, Daulat Nagar, Raod No. 9, Borivali (East), Mumbai – 400066, Maharashtra
Tel. No.:	91-22-28918689
Fax No.:	91-22-28915169
E-Mail :	mail@salgia.in
Income-tax PAN of auditor or auditor's firm :	AAKPS8848J

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

800,000	Equity Shares	Rs. 10/- each	Rs. 8.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

650,000	Equity Shares	Rs. 10/- each	Rs. 6.500 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	6.500	6.500	6.500
(b) Reserves & Surplus	0.319	(0.259)	(0.541)
(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)	6.819	6.241	5.959

(3) Non-Current Liabilities
(a) Long-term borrowings	17.164	15.482	28.634
(b) Deferred tax liabilities (Net)	0.030	0.247	0.366
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.400	1.400	1.400
Total Non-current Liabilities (3)	18.594	17.129	30.400

(4) Current Liabilities
(a) Short term borrowings	8.933	8.462	9.075
(b) Trade payables	22.086	4.806	2.238
(c) Other current liabilities	1.313	1.057	1.923
(d) Short-term provisions	0.654	0.810	1.248
Total Current Liabilities (4)	32.986	15.135	14.484

TOTAL	58.399	38.505	50.843

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.021	5.916	7.066
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.657	0.702	1.011
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5.678	6.618	8.077

(2) Current assets
(a) Current investments
(b) Inventories	14.567	23.867	32.351
(c) Trade receivables	35.118	5.165	3.362
(d) Cash and cash equivalents	2.126	1.858	3.863
(e) Short-term loans and advances	0.456	0.538	0.854
(f) Other current assets	0.454	0.459	2.336
Total Current Assets	52.721	31.887	42.766

TOTAL	58.399	38.505	50.843

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL

Less	EXPENSES		NA	NA	NA
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL

	PROFIT/(LOSS) BEFORE TAX		0.361	0.218	0.000

Less	TAX		(0.217)	(0.070)	0.000

	PROFIT/(LOSS) AFTER TAX		0.578	0.288	0.313

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.259)	(0.547)	0.000

	BALANCE CARRIED TO THE B/S		0.319	(0.259)	0.313

	Earnings Per Share (Rs.)		0.89	0.44	0.48

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Return on Total Assets (PBT/Total Assets}	(%)	0.62	0.57	0.00

Return on Investment (ROI) (PBT/Networth)		0.05	0.03	0.00

Debt Equity Ratio (Total Debt/Networth)		3.83	3.84	6.33

Current Ratio (Current Asset/Current Liability)		1.60	2.11	2.95

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	6.500	6.500	6.500
Reserves & Surplus	(0.541)	(0.259)	0.319
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	5.959	6.241	6.819

long-term borrowings	28.634	15.482	17.164
Short term borrowings	9.075	8.462	8.933
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	37.709	23.944	26.097
Debt/Equity ratio	6.328	3.837	3.827

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10346308	19/03/2012	10,000,000.00	BANK OF BARODA	IBB BRANCH, MATHRU ASHISH BUILDING,, S. V. ROAD K ANDIVALI (WEST),, MUMBAI - 400067, MAHARASHTRA, INDIA	B36580025

UNSECURED LOANS

PARICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans and Advance from related parties
Alka Khandelwal	5.731	5.833
Prakash Khandelwal	8.323	6.398
Others
AH and Company	2.600	2.600

Total	16.654	14.831

FIXED ASSETS:

· Motor Car

· Computer and Printer

· Furniture and Fixture

· Electrical Installation

· Office Equipment

· Plant and machinery

· Tools and Equipments

· Premises

· Books and Periodicals

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. 63.69
UK Pound	1	Rs. 99.73
Euro	1	Rs. 71.90

INFORMATION DETAILS

Information Gathered by :	MAN

Analysis Done by :	RAS

Report Prepared by :	ARC

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	3
--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		27

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.

MIRA INFORM REPORT

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