MIRA INFORM REPORT

Report No. :	318734
Report Date :	22.05.2015

IDENTIFICATION DETAILS

Name :	MATHARU INDUSTRIES PRIVATE LIMITED
Registered Office :	Street No.2,Puri Colony, Ferozepur Road, Faridkot – 151203, Punjab
Tel. No.:	91-1639-250377
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.01.2009
Com. Reg. No.:	16-032546
Capital Investment / Paid-up Capital :	Rs.1.927 Million
CIN No.: [Company Identification No.]	U35990PB2009PTC032546
IEC No.:	3008017690
TAN No.: [Tax Deduction & Collection Account No.]	AMRM12941F
PAN No.: [Permanent Account No.]	AAFCM8954P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of laser leveller, laser land leveller, blade controllers.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 89000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There seems some dip in the company turnover and profit during FY 2014 however, networth of the company is satisfactory. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

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	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. Randhir Singh
Designation :	Director
Contact No.:	91-9357750577
Date :	06.05.2015

LOCATIONS

Registered Office/ Factory :	Street No.2,Puri Colony, Ferozepur Road, Faridkot – 151203, Punjab, India
Tel. No.:	91-1639-250377
Mobile No.:	91-9357750577 (Mr. Randhir)
Fax No.:	91-1639-250377
E-Mail :	psharmaandco@gmail.com randhirsingh@gmail.com
Website :	www.matharugroup.com
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Randhir Singh
Designation :	Director
Address :	H.No.720, Ward No.1, Part No.2, Puri Colony, Faridkot – 151203, Punjab, India
Date of Birth/Age :	24.09.1977
Date of Appointment :	20.01.2009
DIN No.:	02294241
Name :	Mr. Jaswinder Singh Matharu
Designation :	Director
Address :	H.No.720, Ward No.1, Part No.2, Puri Colony, Faridkot – 151203, Punjab, India
Date of Birth/Age :	03.02.1972
Date of Appointment :	20.01.2009
DIN No.:	02294252
Name :	Mr. Balwinder Singh Matharu
Designation :	Director
Address :	Puri Colony, St.No.2, Ferozepur Road, Faridkot – 151203, Punjab, India
Date of Birth/Age :	12.03.1950
Date of Appointment :	20.01.2009
DIN No.:	02294272

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Balwinder Singh Matharu	106900
Randhir Singh	34250
Jaswinder Singh Matharu	18000
Paramjit Kaur	500
Harjinder Kaur	500
Jinder Pal Kaur	500
Balwinder Singh Matharu (HUF)	32000
Total	192650

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of laser leveller, laser land leveller, blade controllers.
Products :	Laser Leveller Laser Land Leveller Blade Controllers
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	Canada Africa Peru
Imports :	Not Divulged
Terms :
Selling :	Cash, Cheque
Purchasing :	Cash, Cheque

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

Banker Name :	Axis Bank
Branch :	Faridkot Branch, Punjab, India
Person Name (With Designation) :	Not Divulged
Contact Number :	Not Divulged
Name of Account Holder :	Not Divulged
Account Number :	4170102000006279
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Auditors :
Name :	Gupta Danesh Kumar and Associates Chartered Accountants
Address :	Dr. Siri Ram Hospital Old Jail Road, Faridkot – 151203, Punjab, India
PAN No.:	ABUPG3434D
Collaborators :	Not Divulged
Membership :	Not Divulged
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
192650	Equity Shares	Rs.10/- each	Rs.1.927 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	1.927	1.927	1.927
(b) Reserves & Surplus	29.116	22.865	15.042
(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)	31.043	24.792	16.969
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.616	0.473	0.298
(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)	0.616	0.473	0.298
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	8.497	14.867	19.298
(c) Other current liabilities	2.902	1.204	0.281
(d) Short-term provisions	2.702	3.642	2.860
Total Current Liabilities (4)	14.101	19.713	22.439
TOTAL	45.760	44.978	39.706
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.594	10.760	5.101
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.033	0.067
Total Non-Current Assets	10.594	10.793	5.168
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	16.603	11.729	8.022
(c) Trade receivables	0.131	0.297	2.745
(d) Cash and cash equivalents	15.728	18.779	21.029
(e) Short-term loans and advances	2.704	3.380	2.742
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	35.166	34.185	34.538
TOTAL	45.760	44.978	39.706

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	72.707	86.128	2.639
Less	EXPENSES		NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX		9.207	11.809	9.593
Less	TAX		NA	NA	NA
	PROFIT/(LOSS) AFTER TAX		NA	NA	NA
	Earnings Per Share (Rs.)		NA	NA	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets)	(%)	20.12	26.26	24.16
Return on Investment (ROI) (PBT/Networth)		0.30	0.48	0.57
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.49	1.73	1.54

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	1.927	1.927	1.927
Reserves & Surplus	15.042	22.865	29.116
Net worth	16.969	24.792	31.043
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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
Total Income	2.639	86.128	72.707
		3,163.660	-15.583

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	2.639	86.128	72.707
Profit before tax	9.593	11.809	9.207
	363.51%	13.71%	12.66%

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	No
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	Yes
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

NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

· Air Conditioner

· Attendance Machinery

· Building

· Camera

· Car

· Coffee Machine

· Computer

· Electric Installation

· EPBX

· Furniture and Fixture

· Gas Connection

· Generator

· Grass Cutting Mat

· Invertor

· LCD TV

· Machinery

· Motor Cycle

· Scooter

· Security System

· Telephone Set

· Tractor

· TV

· Water Cooler

· Weighing Machine

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.63.70
UK Pound	1	Rs.98.92
Euro	1	Rs.70.67

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.