MIRA INFORM REPORT

Report No. :	348227
Report Date :	06.11.2015

IDENTIFICATION DETAILS

Name :	A.G. DEVELOPERS PRIVATE LIMITED

Registered Office :	301-A/B-8, GDITL Tower, Netaji Subhash Place, Pitampura, Ring Road, New Delhi – 110034
Tel. No.:	91-11-27352217-18

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	17.08.1990

Com. Reg. No.:	55-041185

Capital Investment / Paid-up Capital :	Rs.1.310 Million

CIN No.: [Company Identification No.]	U74899DL1990PTC041185

IEC No.:	0502010894

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 :	Subject is engaged in the Business of civil contracts and trading of building materials Chemicals.

No. of Employees :	85 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject was incorporated on 17^th August, 1990. It is engaged into business of civil contracts and trading of building material and chemicals. It has satisfactory track record. The company possesses a decent profile marked by adequate networth base along with fair liquidity and profitability. Trade relations are fair. Business is active. Payment are usually correct. The company can be considered for business dealing 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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Ajay Gupta
Designation :	Director
Contact No.:	91-9810128353/ 91-11-27352217
Date :	05.11.2015

LOCATIONS

Registered Office :	301-A/B-8, GDITL Tower, Netaji Subhash Place, Pitampura, Ring Road, New Delhi – 110034, India
Tel. No.:	91-11-27352217-18
Mobile No.:	91-9810128353 (Mr. Ajay Gupta)
Fax No.:	91-11-27352219
E-Mail :	agdpl@agechem.com
Website:	http://agechem.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Ajay Gupta
Designation :	Director
Address :	B – 283 Saraswati Vihar, New Delhi – 110034, India
Date of Birth/Age :	30.04.1960
Date of Appointment :	17.08.1990
DIN No.:	00430411

Name :	Ms. Poonam Gupta
Designation :	Director
Address :	B – 283 Saraswati Vihar, New Delhi – 110034, India
Date of Birth/Age :	25.03.1961
Date of Appointment :	14.07.1992
DIN No.:	00430425

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders		No. of Shares
Ajay Gupta		10612
Poonam Gupta		6511
V. P. Gupta		6400
Renu Goyal		1000
Sunil Gupta		12100
Ajay Gupta and Sons (HUF)		100
Rajiv Gupta		30100
Naresh sharma		50000
Ashok Kumar		14000
Mukesh Goyal		100
Avni gupta		100

Total		131023

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	51.08
Other top fifty shareholders	48.92
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the Business of civil contracts and trading of building materials Chemicals.

Products/ Services :	Civil Structural Repair and Rehabilitation Chemical Corrosion Resistant Coatings Non-Shrink Grouts Industrial Floorings Injection Goutings Water Proofing Systems Expansion Joints

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :
Products:	Raw Material
Countries:	Italy Germany

Terms :	Not Divulged

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 :

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 :

85 (Approximately)

Bankers :

Bank Name	State Bank of Travencore
Branch	Balaji Plaza, Sector – 8, Pocket C – 9, Rohini, New Delhi – 110085, 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

Kotak Mahindra Bank Limited
Axis Bank Limited
State Bank of India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Kotak Mahindra Bank Car Loan	0.054	0.214
Loan from State bank of Travancore	13.022	15.542

Short-term borrowings
Loan from State Bank of Travancore	10.059	0.000

Total	23.135	15.756

Note:

Long Term Borrowing:

Bank	31.03.2014	31.03.2013	Nature of Security	Repayment Terms
Kotak Mahindra Prime Limited – Car Loan	0.055	0.214	Vehicle Loan taken from Kotak Mahindra Prime Limited	The entire loan is Rs.0.435 Million to be is paid in 35 Equal monthly installments of Rs.0.015 Million (Inc of Interest) commencing from September 2012 to July 2015.
Loan From State Bank of Travancore	13.022	15.541	Loan taken from State Bank of Travancore is Secured by Hypothecation of Godown.	The entire loan is Rs.17.500 Million to be paid in 70 Equal monthly Instalments of Rs.0.339 Million (inc of interest) commencing from March 2013 to January 2019.

The above term loan figures represent Total long term outstanding current maturities of long term debts.

Short Term Borrowings

Cash credit facility taken from State Bank of Travancore is secured against Hypothecation of Stock and Receivables and other current assets of company and further collaterally secured against Industrial plot in the name of the company and residential house in the name of directors. Rate of interest is 2.50% above SBT Base rate.


Auditors :
Name :	O. Aggarwal and Company Chartered Accountants
Address :	421, Ring Road Mall, Manglam Place, Sector – 3, Rohini, New Delhi – 110085, India
Tel. No.:	91-11-65461914/27940402
E-Mail :	punamkumar70@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFO6019P

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

150000	Equity Shares	Rs.10/- each	Rs.1.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

131023	Equity Shares	Rs.10/- each	Rs.1.310 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	1.310	1.310	1.310
(b) Reserves & Surplus	13.332	10.898	8.746
(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)	14.642	12.208	10.056

(3) Non-Current Liabilities
(a) long-term borrowings	19.685	22.165	4.825
(b) Deferred tax liabilities (Net)	0.322	0.275	0.192
(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)	20.007	22.440	5.017

(4) Current Liabilities
(a) Short term borrowings	10.059	0.000	0.000
(b) Trade payables	20.042	4.791	6.952
(c) Other current liabilities	30.445	27.683	16.110
(d) Short-term provisions	0.286	0.000	0.000
Total Current Liabilities (4)	60.832	32.474	23.062

TOTAL	95.481	67.122	38.135

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	35.793	35.811	11.204
(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	3.514	3.315	1.169
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	39.307	39.126	12.373

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.674	0.469	0.572
(c) Trade receivables	25.115	17.922	19.913
(d) Cash and cash equivalents	24.584	8.474	4.194
(e) Short-term loans and advances	2.717	0.820	0.721
(f) Other current assets	0.084	0.311	0.362
Total Current Assets	56.174	27.996	25.762

TOTAL	95.481	67.122	38.135

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Gross Revenue Receipt	87.381	68.804	43.034
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA

Less	EXPENSES	NA	NA	NA

	PROFIT/ (LOSS) BEFORE TAX	3.599	3.185	1.303

Less	TAX	1.165	1.033	0.426

	PROFIT/ (LOSS) AFTER TAX	2.434	2.152	0.877

	Earnings / (Loss) Per Share (Rs.)	18.58	16.42	6.69

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt
-HDFC Bank Car Loan	0.000	0.000	0.013
-Kotak Mahindra Bank	0.159	0.143	0.000
-State Bank of Travancore	2.336	1.971	0.000
	2.495	2.114	0.013
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	3.77	4.75	3.42

Return on Investment (ROI) (PBT/Networth)		0.25	0.26	0.13

Debt Equity Ratio (Total Debt /Networth)		2.20	1.99	0.48

Current Ratio (Current Asset/Current Liability)		0.92	0.86	1.12

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	1.310	1.310	1.310
Reserves & Surplus	8.746	10.898	13.332
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	10.056	12.208	14.642

long-term borrowings	4.825	22.165	19.685
Short term borrowings	0.000	0.000	10.059
Current Maturities of Long-Term Debts	0.013	2.114	2.495
Total borrowings	4.838	24.279	32.239
Debt/Equity ratio	0.481	1.989	2.202

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)
Gross Revenue Receipt	43.034	68.804	87.381
		59.883	27.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Gross Revenue Receipt	43.034	68.804	87.381
Profit	0.877	2.152	2.434
	2.04%	3.13%	2.79%

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	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	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: The Registered office of the company has been shifted from to B-283, Saraswati Vihar, New Delhi – 110034, India the present address w.e.f. 12.12.2012

GENERAL INFORMATION:

The company is a private limited company domiciled and incorporated under the provisions of the The Companies Act, 1956. The Company is doing the Business of civil contractor and trading of building materials and chemicals etc.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and Advances from Related party	6.609	6.409

Total	6.609	6.409

Note:

Loans and Advances from Related Party

As at March 31	2014	2013
Ajay Gupta	1.800	1.800
Ajay Gupta and Sons HUF	0.421	0.389
Renu Goyal	1.075	1.075
Mukesh Goyal	0.830	0.830
Sunil Gupta	0.180	0.180
Ved Prakash Gupta	0.059	0.059
Poonam Gupta	2.244	2.076
Total	6.609	6.409

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10487134	13/03/2015 *	55,000,000.00	State Bank of Travancore	Balaji Plaza, Sector 8, Rohini, Delhi - 110085, INDIA	C48680292
2	10400098	02/01/2013	17,500,000.00	STATE BANK OF TRAVANCORE	ROHINI COMMERCIAL COMPLEX BRANCH, SECTOR 8,BALAJI PLAZA,ROHINI, DELHI, Delhi - 110085, INDIA	B66753310

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Bank Guarantee	7.164	1.470

FIXED ASSETS

Godown Land
Godown Building
Machinery
Car
Office Equipment
Furniture
Computer
Phone Instrument and System
Drum Trolly
Fax Machine
Water Filter
Air Purifier
UPS
Stabilizer
Air Conditioner
Printer
Cycle
Paper Coupier
Generator
Airless Spray

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.65.67
UK Pound	1	Rs.101.02
Euro	1	Rs.71.34

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	RAS

Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		44

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

INDEX OF CHARGES

Unit