MIRA INFORM REPORT

Report No. :	318669
Report Date :	23.05.2015

IDENTIFICATION DETAILS

Name :	KUNAL STAMPINGS PRIVATE LIMITED
Registered Office :	F-52, Sector-3, DSIDC, Delhi – 110039
Tel. No.:	91-11-27761765
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	22.05.1998
Com. Reg. No.:	55-094014
Capital Investment / Paid-up Capital :	Rs.0.429 Million
CIN No.: [Company Identification No.]	U31909DL1998PTC094014
TAN No.: [Tax Deduction & Collection Account No.]	DELK08480D
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and suppliers of all kinds of electrical Lamination Core, E and I, Stripes, CVT Core, UI Core Toroidal Core in CRGO and GRNO.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 7200
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate scale of business operations marked by small net worth and declined in sales turnover of the company during 2014. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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 – 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

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

Name :	Mr. Rajesh Kumar Patel
Designation :	Accountant
Contact No.:	91-11-27761765
Date :	07.05.2015

LOCATIONS

Registered Office/ Factory :	F-52, Sector-3, DSIDC, Delhi – 110039, India
Tel. No.:	91-11-27761765
Fax No.:	91-11-27761765
E-Mail :	kunalspl@yahoo.com
Website :	http://www.kunalstamping.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Mukesh Kumar Gupta
Designation :	Director
Address :	234, Ishwar Colony, Bawana, Delhi - 110039, India
Date of Appointment :	22.05.1998
DIN No.:	01112382
Name :	Mrs. Swati Gupta
Designation :	Director
Address :	234, Ishwar Colony, Bawana, Delhi - 110039, India
Date of Appointment :	22.05.1998
DIN No.:	01116471
Name :	Mrs. Puneet Gupta
Designation :	Director
Address :	B-1065, Kanjhwala Road, Bawana, Delhi - 110039, India
Date of Appointment :	01.04.2007

KEY EXECUTIVES

Name :	Mr. Rajesh Kumar Patel
Designation :	Accountant

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Mukesh Kumar Gupta	27000	62.94
Swati Gupta	15800	36.83
Savitri Devi	100	0.23
Total	42900	100.00

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	99.77
Other top fifty shareholders	0.23
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and suppliers of all kinds of electrical Lamination Core, E and I, Stripes, CVT Core, UI Core Toroidal Core in CRGO and GRNO.
Products :	Transformer Stamping UPS Stamping Inverter Servo Stabilizer Transformer Distribution Transformer JGBT Transformer
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers, Retailers and End Users

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 :

15 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	Sector-44, DSIDC, Delhi, 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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan From Bank
HDFC Bank Car Loan	0.000	0.062
Total	0.000	0.062

Auditors :
Name :	Mittal Varshney and Company Chartered Accountants
Address :	House No.1, Vikas Nagar, ADA Colony, Agra Road, Aligarh – 202001, Uttar Pradesh, India
E-Mail :	mittalv2001@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	ABBPV5636M
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
42900	Equity Shares	Rs.10/- each	Rs.0.429 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	0.429	0.429	0.429
(b) Reserves & Surplus	2.104	1.700	1.226
(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)	2.533	2.129	1.655
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.062	0.382
(b) Deferred tax liabilities (Net)	0.001	0.017	0.043
(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)	0.001	0.079	0.425
(4) Current Liabilities
(a) Short term borrowings	25.948	23.836	16.385
(b) Trade payables	8.033	16.517	16.025
(c) Other current liabilities	3.725	2.424	2.686
(d) Short-term provisions	0.200	0.025	0.000
Total Current Liabilities (4)	37.906	42.802	35.096
TOTAL	40.440	45.010	37.176
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.530	4.135	4.755
(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	0.039	0.039	0.039
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3.569	4.174	4.794
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	11.426	13.225	8.680
(c) Trade receivables	22.314	24.423	17.570
(d) Cash and cash equivalents	0.638	1.260	2.030
(e) Short-term loans and advances	1.477	0.714	3.531
(f) Other current assets	1.016	1.214	0.571
Total Current Assets	36.871	40.836	32.382
TOTAL	40.440	45.010	37.176

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	42.680	66.491	63.505
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES
	TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.282	1.274	0.349
Less	DEPRECIATION/ AMORTISATION	0.683	0.801	0.937
	PROFIT/ (LOSS) BEFORE TAX	0.599	0.473	(0.588)
Less	TAX	0.195	(0.001)	(0.032)
	PROFIT/ (LOSS) AFTER TAX	0.404	0.474	(0.556)
	Earnings / (Loss) Per Share (Rs.)	9.42	11.05	(12.96)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt
Secured-From Bank
HDFC Bank Car Loan-l (Secured Against Hypothcation of Car)	0.000	0.147	0.160
HDFC Bank Car Loan-ll (Secured Against Hypothcation of Car)	0.624	0.173	0.153
Total	0.624	0.320	0.313
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.95	0.71	-0.88
Operating Profit Margin (PBIDT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.48	1.05	(1.58)
Return on Investment (ROI) (PBT/Networth)		0.24	0.22	(0.36)
Debt Equity Ratio (Total Debt /Networth)		10.49	11.38	10.32
Current Ratio (Current Asset/Current Liability)		0.97	0.95	0.92

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	0.429	0.429	0.429
Reserves & Surplus	1.226	1.700	2.104
Net worth	1.655	2.129	2.533
long-term borrowings	0.382	0.062	0.000
Short term borrowings	16.385	23.836	25.948
Current Maturities of Long-Term Debts	0.313	0.320	0.624
Total borrowings	17.080	24.218	26.572
Debt/Equity ratio	10.320	11.375	10.490

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)
Sales	63.505	66.491	42.680
		4.702	(35.811)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	63.505	66.491	42.680
Profit	(0.556)	0.474	0.404
	(0.88%)	0.71%	0.95%

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	No
11	Pan Card No. of Proprietor / Partners	Yes
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	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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
From Others
Loans and Advances from Related Parties	21.865	19.878
Loans and Advances from Related Parties	4.083	3.958
Total	25.948	23.836

INDEX OF CHARGES

No Charges Exist for Company

FIXED ASSETS

Tangible Assets

· Plant and Machinery

· Airconditioner

· Car

· Mobile Phone

· Office Equipments

· Motor Cycle

· Computer

· Tools and Dies

· Weighting Machines

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.63.57
UK Pound	1	Rs.99.67
Euro	1	Rs.70.93

INFORMATION DETAILS

Information Gathered by :	PRI
Analysis Done by :	KAR
Report Prepared by :	SUD

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	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		28

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.