MIRA INFORM REPORT

Report No. :	323280
Report Date :	23.04.2015

IDENTIFICATION DETAILS

Name :	VIZAG CARBON PRIVATE LIMITED
Registered Office :	Yashojwal Civil Line No. 2, Chandrapur – 442401, Maharashtra
Tel. No.:	91-7172-255066
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.08.2011
Com. Reg. No.:	11-220845
Capital Investment / Paid-up Capital :	Rs. 17.000 Million
CIN No.: [Company Identification No.]	U74120MH2011PTC220845
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 :	Manufacturer of carbon electrode paste, carbon electrode, welding electrode, scientific instruments and carbon rods.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has incurred an accumulated loss during 2014. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some cautions.

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. Avinash Kulkarni
Designation :	Accountant
Date :	19.05.2015

LOCATIONS

Registered Office :	Yashojwal Civil Line No. 2, Chandrapur – 442401, Maharashtra, India
Tel. No.:	91-7172-255066
Fax No.:	91-7172-255600
E-Mail :	carbon_cha@sancharnet.in

DIRECTORS

AS ON 30.09.2014

Name :

Sunil Y Kulkarni

Designation :

Managing Director

Address :

Near Janta College, Civil Lines, Chandrapur – 442401, Maharashtra, India

Date of Appointment :

21.09.2012

DIN No.:

00887050

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	U28100MH1981PTC024120	MAHARASHTRA CARBON PVT LTD	Managing director	26/09/2012	26/03/1981	-	Active	NO
2	U74120MH2011PTC220845	VIZAG CARBON PRIVATE LIMITED	Managing director	21/09/2012	11/08/2011	-	Active	NO

Name :

Himabindu Akundi

Designation :

Director

Address :

211/A, Sector – 3, Ukku Nagar, Visakhapatnam – 530032, Andhra Pradesh, India

Date of Appointment :

11.08.2011

DIN No.:

03588060

Name :

Kshitij Juneja

Designation :

Director

Address :

H.N. 31/12, Civil Lines, Raipur – 492001, Chattisgarh, India

Date of Appointment :

30.09.2013

DIN No.:

01478945

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	U01122CT1993PTC007934	KSHITIZ AGRO PRODUCTS PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
2	U27109CT2009PTC021467	SIMRAN INDUSTRIES PRIVATE LIMITED	Director	17/11/2009	17/11/2009	-	Active	NO
3	U40100CT2010PTC022074	LEONE POWER AND STEEL PRIVATE LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO
4	U74120MH2011PTC220845	VIZAG CARBON PRIVATE LIMITED	Director	30/09/2013	01/12/2011	-	Active	NO
5	U27101CT1988PLC004365	DEEPAK FERRO ALLOYS LIMITED	Director	18/10/2012	18/10/2012	25/08/2014	Active	NO

Name :

Hemant Kulkarni

Designation :

Director

Address :

Yashujjwal Civil Lines, Chandrapur – 442401, Maharashtra, India

Date of Appointment :

30.09.2013

DIN No.:

02351080

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	U74990MH2009PTC191525	HIGH FLY ASH CLUSTER PRIVATE LIMITED	Director	30/09/2010	25/04/2009	-	Active	NO
2	U74120MH2011PTC220845	VIZAG CARBON PRIVATE LIMITED	Director	30/09/2013	01/12/2011	-	Active	NO
3	U28100MH1981PTC024120	MAHARASHTRA CARBON PVT LTD	Director	29/09/2012	29/09/2012	-	Active	NO

Name :

Srilatha Datla

Designation :

Director

Address :

Sector 3, Q. No. 212/B, Balachruvu VSP, Towenship, Visakhapatnam – 530032, Andhra Pradesh, India

Date of Appointment :

01.12.2011

DIN No.:

03588066

Name :

Vivek Rathore

Designation :

Director

Address :

Pratap Sadan, Rathore Chowk, Raipur – 492001, Chattisgarh, India

Date of Appointment :

01.12.2011

DIN No.:

05131681

KEY EXECUTIVES

Name :	Mr. Avinash Kulkarni
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Sunil Yashwant Kulkarni	114000
Hemant Yashwant Kulkarni	106000
Ujjwal Yashwant Kulkarni	40000
Yashwant Eknath Kulkarni	40000
Anjali Sunil Kulkarni	20000
Swati Hemant Kulkarni	20000
Aditi Sunil Kulkarni	10000
Sumedh Sunil Kulkarni	10000
Sneha Hemant Kulkarni	10000
Makarand Srikant Padalkar	40000
Subhada Makarand Padalkar	20000
Akundi Hima Bindu	175000
Datla Srilatha	155000
Bhallamudi Satyaprakashrao	30000
K.V.C. Radhadevi	50000
K.S.V.A.N. Raju	50000
Akundi Anuradha	30000
Kakaraparthi Pathanjali Sastry	20000
Vivek Ranjeetsingh Rathore	200000
Umakanta Mukundlal Rathore	20000
Rajeshwari Rathore	10000
Mukundlal Chotelal Rathore	20000
Kshitij Jagdish Juneja	210000
Rajeshkumar Juneja and Sons	50000
Maharashtra Carbon Private Limited, India	250000
Total	1700000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	15.00
Directors or relatives of Directors	85.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of carbon electrode paste, carbon electrode, welding electrode, scientific instruments and carbon rods.
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, S.M.E. Branch, Butibori, Plot No. X-9, S.M.E. Butibori, Near Police Station, Wardha Road, Nagpur – 441122, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loan from SBI	20.248	17.063
Short-term borrowings
Secured loan from State Bank of India	3.851	0.000
Total	24.099	17.063

Banking Relations :	--
Auditors :
Name :	R.R. Mamidwar and Company Chartered Accountants
Address :	Sarafa Lines, Chandrapur – 442402, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFR6341N
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1700000	Equity Shares	Rs.10/- each	Rs. 17.000 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	17.000	13.500	7.100
(b) Reserves & Surplus	(5.607)	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.800	3.200	1.186
Total Shareholders’ Funds (1) + (2)	12.193	16.700	8.286
(3) Non-Current Liabilities
(a) long-term borrowings	20.248	17.063	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	20.248	17.063	0.000
(4) Current Liabilities
(a) Short term borrowings	3.851	0.000	0.000
(b) Trade payables	16.516	0.000	0.000
(c) Other current liabilities	0.524	1.359	0.056
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	20.891	1.359	0.056
TOTAL	53.332	35.122	8.342
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	29.752	28.401	4.559
(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	1.684	0.077	0.003
(e) Other Non-current assets	0.000	0.000	0.438
Total Non-Current Assets	31.436	28.478	5.000
(2) Current assets
(a) Current investments	2.753	3.441	0.000
(b) Inventories	8.082	0.000	0.000
(c) Trade receivables	10.603	0.000	0.000
(d) Cash and cash equivalents	0.293	2.235	3.025
(e) Short-term loans and advances	0.165	0.968	0.317
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	21.896	6.644	3.342
TOTAL	53.332	35.122	8.342

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	43.580	NA	NA
Less	EXPENSES
		TOTAL	46.114	(3.003)	(0.437)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(2.534)	NA	NA
Less/ Add	DEPRECIATION/ AMORTISATION		3.073	NA	NA
	PROFIT BEFORE TAX		(5.607)	NA	NA
Less	TAX		0.000	NA	NA
	PROFIT AFTER TAX		(5.607)	NA	NA
	Earnings Per Share (Rs.)		(3.29)	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
Net Profit Margin (PAT / Sales)	(%)	(0.13)	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	(10.51)	NA	NA
Return on Investment (ROI) (PBT/Networth)		(0.46)	NA	NA
Debt Equity Ratio (Total Debt /Networth)		1.98	1.02	0.00
Current Ratio (Current Asset/Current Liability)		1.05	4.89	59.68

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	7.100	13.500	17.000
Reserves & Surplus	0.000	0.000	-5.607
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.800	3.200	1.186
Net worth	7.900	16.700	12.579
long-term borrowings	0.000	17.063	20.248
Short term borrowings	0.000	0.000	3.851
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	0.000	17.063	24.099
Debt/Equity ratio	0.000	1.022	1.916

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	No
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	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 one year	Yes
27	Reasons for variation <> 20%	-----
28	Estimation for coming financial year	No
29	Profitability for last one 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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10363224	23/05/2012	42,000,000.00	STATE BANK OF INDIA	S.M.E. BRANCH BUTIBORI, PLOT NO. X-9, S.M.E., BUTIBORI, NEAR POLICE STATION, WARDHA ROAD, NAGPUR, Maharashtra - 441122, INDIA	B42282871

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. 63.86
UK Pound	1	Rs. 98.89
Euro	1	Rs. 70.73

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	RAS
Report Prepared by :	JYO

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	2
--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		26

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.