MIRA INFORM REPORT

Report No. :	322609
Report Date :	23.05.2015

IDENTIFICATION DETAILS

Name :	INTERMETAL ENGIEERS (INDIA) PRIVATE LIMITED

Registered Office :	22 Noble Industrial Estate No. 1, Navghar Vasal (East), Thane, Mumbai - 401210, Maharashtra
Tel. No.:	91-22-28854905

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	20.05.1988

Com. Reg. No.:	11-047421

Capital Investment / Paid-up Capital :	Rs. 0.250 Million

CIN No.: [Company Identification No.]	U28920MH1988PTC047421

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 :	The company is engaged in the business of Manufacturing of Machineries and Equipments for Industries.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 170000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. The management has reported dip in its turnover and net profitability during FY2014. However, it has healthy financial risk profit marked by good net worth, low gearing and comfortable liquidity profile during year under review. Trade relations reported to be fair. Business is active. Payments are reported to be usually correct. Subject can be considered 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

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 DENIED BY

Name :	MR. Prakash Venkatesh Kapoor
Designation :	Director
Contact No.:	91-250- 2392395
Date :	13.05.2015

LOCATIONS

Registered Office :	22 Noble Industrial Estate No. 1, Navghar Vasal (East), Thane, Mumbai - 401210, Maharashtra, India
Tel. No.:	91-22-28854905
Fax No.:	91- 250- 2390306
E-Mail :	sales@intermetal.co.in
Website :	http://www.intermetal.co.in

DIRECTORS

As on: 30.09.2014

Name :	Koppar Venkatesh Prakash
Designation :	Director
Address :	501, The Ark, Wing C, Off Iv Pipe Line Road, Vakola Church, Santacruz (East), Mumbai - 400055
Date of Birth/Age :	09.10.1945
Date of Appointment :	20.05.1988
DIN No.:	01504940

Name :	Koppar Prakash Jayalakshmi
Designation :	Director
Address :	C – 501, The Ark, Off. Juhu Pipe Line Road, Near Vakola Church, Santacruz (East), Mumbai – 400055
Date of Birth/Age :	02.02.1948
Date of Appointment :	20.05.1988
DIN No.:	01574778

Name :	Koppar Prakash Anand
Designation :	Director
Address :	C – 501, The Ark, Vakola Pipe Line Road, Vakola Church, Santacruz (East), Mumbai - 400055
Date of Birth/Age :	09.08.1983
Date of Appointment :	28.02.2009
DIN No.:	02507391

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Koppar Venkatesh Prakash	1875	75.00
Koppar Prakash Jayalakshmi	375	15.00
Koppar Prakash Anand	125	5.00
Koppar Arti	125	5.00
Total	2500	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in the business of Manufacturing of Machineries and Equipments for Industries.

Products :	Not Divulged

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	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 :

Reference :	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 :

Information declined by the management

Bankers :

State Bank of India, Navghar Branch, Thane – 401202, Maharashtra, India


Auditors :
Name :	Shankar and Kishor Chartered Accountants
Address :	B/702, Oxford Chambers, Saki Vihar Road, Near L&T Tunga Village, Powai, Mumbai – 400072, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFS2700A

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2500	Equity Shares	Rs.10/- each	Rs. 0.250 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	0.250	0.250	0.250
(b) Reserves & Surplus	60.169	53.342	38.880
(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)	60.419	53.592	39.130

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.140	0.129	0.156
(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)	0.140	0.129	0.156

(4) Current Liabilities
(a) Short term borrowings	0.188	0.206	0.229
(b) Trade payables	5.933	4.081	5.952
(c) Other current liabilities	4.335	8.580	6.188
(d) Short-term provisions	20.143	21.536	16.065
Total Current Liabilities (4)	30.599	34.403	28.434

TOTAL	91.158	88.124	67.720

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.401	12.745	13.234
(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	33.215	24.502	11.101
(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	0.000	0.000
Total Non-Current Assets	45.616	37.247	24.335

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.759	1.911	1.456
(c) Trade receivables	4.066	5.053	2.583
(d) Cash and cash equivalents	16.902	22.860	23.074
(e) Short-term loans and advances	0.552	0.745	2.346
(f) Other current assets	22.263	20.308	13.926
Total Current Assets	45.542	50.877	43.385

TOTAL	91.158	88.124	67.720

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012

	TOTAL INCOME	65.484	77.256	62.669

Less	TOTAL EXPENSES	55.846	55.930	47.783

	PROFIT BEFORE TAX	9.638	21.326	14.886

Less	TAX	2.810	6.864	5.043

	PROFIT AFTER TAX	6.828	14.462	9.843

	Earnings Per Share (Rs.)	2731.20	5784.80	3937.20

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
Net Profit Margin (PAT / Sales)	(%)	10.43	18.72	15.71

Operating Profit Margin (PBIDT/Sales)	(%)	14.72	27.60	23.75

Return on Total Assets (PBT/Total Assets}	(%)	16.63	33.52	26.29

Return on Investment (ROI) (PBT/Networth)		0.16	0.40	0.38

Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.01

Current Ratio (Current Asset/Current Liability)		1.49	1.48	1.53

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	0.250	0.250	0.250
Reserves & Surplus	38.880	53.342	60.169
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	39.130	53.592	60.419

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.229	0.206	0.188
Total borrowings	0.229	0.206	0.188
Debt/Equity ratio	0.006	0.004	0.003

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	62.669	77.256	65.484
		23.276	(15.238)

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	62.669	77.256	65.484
Profit	9.843	14.462	6.828
	15.71%	18.72%	10.43%

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)	No
16	No. of employees	No
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	Yes
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	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE:

Registered office of the company has been shifted from 22 Nind Estate No1navgnar, Vasai East, Mumbai - 400054, Maharashtra, India to 22 Noble Industrial Estate No. 1, Navghar Vasal (East), Thane, Mumbai - 401210, Maharashtra, India the present address w.e.f. 28.12.2009

FINANCIAL PERFORMANCE:

The gross income earned by the Company during the year was Rs. 65.484 million as against Rs. 77.256 million earned in the previous year. After accounting for the expenditure of Rs. 55.486 million (Previous Year Rs. 55.930 million), the Company earned a Profit of Rs. 6.827 million as against Rs. 14.462 million in the previous Year.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Loans and advances from related parties
From directors
Anand Koppar	0.000	0.018

From relatives of directors
Aari Koppar	0.026	0.026
Jaylaxmi Koppar	0.012	0.012
Deposits	0.150	0.150
Total	0.188	0.206

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

Tools and Equipment
Printers
Computers
Air conditioner
Motor Cycle
Furniture
Factory Premises
Machinery
Cycle
Factory

· Tele Fax

· Patterns

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. 63.57
UK Pound	1	Rs.98.66
Euro	1	Rs.70.92

INFORMATION DETAILS

Information Gathered by :	MNJ

Analysis Done by :	SUM

Report Prepared by :	DDD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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 unfavorable 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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