MIRA INFORM REPORT

Report No. :	349134
Report Date :	18.11.2015

IDENTIFICATION DETAILS

Name :	V.K. CONSTRUCTION
Registered Office :	Rajyog Renuka Nagar, Lane No. 1, Pune-Bangalore Highway, Warje, Pune – 411058, Maharashtra
Mob. No.:	91-9881012210 [Mr. Vipul Kantilal Thorat]
Country :	India
Financials (as on) :	31.03.2015
Date of Establishment :	13.03.2007
Capital Investment :	Rs. 4.182 Million
IEC No.:	Not Available
PAN No.: [Permanent Account No.]	AFJPT4336E
Legal Form :	Sole Proprietary Concern
Line of Business :	Subject act as a Government Building Contractor.
No. of Employees :	2 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established proprietary concern started in the year 2007 having satisfactory track record. Subject act as a Government Building Contractor. The concern is performing well. General financial position of the concern is sound. Trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct. The concern 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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Vipul Kantilal Thorat
Designation :	Proprietor
Contact No.:	91-9881012210
Date :	16.11.2015

LOCATIONS

Registered Office :	Rajyog Renuka Nagar, Lane No. 1, Pune-Bangalore Highway, Warje, Pune – 411058, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9881012210 [Mr. Vipul Kantilal Thorat]
Fax No.:	Not Available
E-Mail :	vkconstruction.pune@rediffmail.com
Area :	300 Sq. ft.
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Vipul Kantilal Thorat
Designation :	Proprietor
Address :	Rajyog Renuka Nagar, Lane No. 1, Pune-Bangalore Highway, Warje, Pune – 411058, Maharashtra, India
Date of Birth/Age :	27.06.1985
Qualification :	B.E. Civil
Experience :	10 Years
PAN No.:	AFJPT4336E
Profile :	Mr. Vipul Kantilal Thorat, Proprietor of V.K. Constructions is a Class 4 Registered Govt. PMC and PWC Class 5 Civil Contractor since last 8 years. He is very famous contractor around PMC Pune – 411005. The proprietor desirous to meet working capital need. All most works order are work in progress but final work will be awaited. Costly works such as Bitumen and Concreting with civil work, finishing works to need the money. R.A. bill will be receivable, balance works and M.B. recorded but payment not realize. He is fit in his line of experience and activities. He is quiet enthusiastic. He is residing at Rajyog Renuka Nagar, Lane No. 01, Pune Bangalore Highway, Warje, Pune – 411058. This is near to work site and thus can devote their full time to the business. As he has been born and brought up in the same area, they have good developed lot of relation and contract. He is engaged in the social activities and thus all the people in the surrounding area know also his works activities since last 8 years. Good quality of work and service under his work line.

BUSINESS DETAILS

Line of Business :	Subject act as a Government Building Contractor.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash and Credit [30 Days]
Purchasing :	Cash and Credit [30 Days]

GENERAL INFORMATION

Suppliers :

Reference:	Kasturi Steel, Pune
Name of the Person (Designation):	Not Divulged
Contact Number:	91-9422078535
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Reference:	Vinayak Metals, Shastri Nagar, Pune, Maharashtra, India
Name of the Person (Designation):	Mr. Rahul Dalvi [Marketing Manager]
Contact Number:	91-9762855875
Since how long known:	4 Years
Maximum limit dealt:	As per requirement
Experience:	Payment = Good Market Goodwill = Good Overall = Good
Remark	Subject is a good company, payment behaviour is also good.

· Jinendra Enterprises

Plot No. 257/2, S. No. 103/3, Autade, Handewadi, Tal. Haveli, Pune – 411048, Maharashtra, India

91-9970962171 [Mr. Jinendra] [Ringing]

· Rupaji Nagaji

Bhavani Peth, Pune, Maharashtra, India

Mr. Vinod Oswal [91-9822490187] [Switch Off]

· Marble Centre

Katraj, Pune, Maharashtra, India

Customers :

--

No. of Employees :

2 (Approximately)

Bankers :

Bank Name:	Bank of India
Branch:	Malwadi, Warje, Pune – 411058, Maharashtra, India
Person Name (with Designation):	Shripad Govind Dingare [Credit Manager]
Contact Number:	91-20-25230749
Name of Account Holder:	V.K. Construction
Account Number:	053320110000503
Account Since (Date/ Year of A/c Opening):	21.04.2015
Average Balance Maintained (Optional):	Rs. 0.200 Million
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit = Rs. 3.000 Million [Proposed] Bank Guarantee = Rs. 1.000 Million [Proposed]
Account Operation:	Conduct of existing account satisfactory.
Remarks: Subject is having Current Account with them, with satisfactory conduct. Now, the firm approached them with request to grant Cash Credit facility of Rs. 3.000 Million and Bank Guarantee of Rs. 1.000 Million.

Facilities :

SECURED LOANS	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
Pune Peoples Bank [562 Loan against Prop.]	0.490	0.664
Vishweshwar Bank [2248/278 Gold Loan]	0.149	0.000
Total	0.639	0.664

Auditors :
Name :	Bhutada V. M. and Company Chartered Accountants
Address :	Sr. No. 143, Shruti House, 1^st Floor, Narayan Peth, Pune – 411030, Maharashtra, India
Tel. No.:	91-20-24441788
Mobile No.:	91-9970796333
E-Mail :	skkatkarco@gmail.com vishnubhutade123@gmail.com
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

CAPITAL ACCOUNT AS ON 31.03.2015

PARTICULARS	AMOUNT IN MILLION
Mr. Vipul K. Thorat Capital	3.654
Add: Net Profit	1.167
Add: S.B. Interest received	0.007
	--------------
	4.828
Less: Drawing [Other]	0.347
Less: Drawing [TDS I. Tax]	0.299
	--------------
Total	4.182

FINANCIAL DATA

[all figures are in Rupees Million]

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Capital Account		4.182	2.624	0.950
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.182	2.624	0.950
LOAN FUNDS
1] Secured Loans		0.639	0.664	0.764
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.639	0.664	0.764
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.821	3.288	1.714
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.086	0.102	0.120
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.451	0.283	0.284
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	5.013	2.673	0.667
	Cash & Bank Balances	0.527	0.183	0.323
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.412	0.939	1.182
Total Current Assets		6.952	3.795	2.172
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.601	0.841	0.843
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.067	0.051	0.019
Total Current Liabilities		2.668	0.892	0.862
Net Current Assets		4.284	2.903	1.310
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.821	3.288	1.714

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Contract Receipt	13.521	10.038	3.687
		Other Income	0.000	0.000	0.000
		TOTAL	13.521	10.038	3.687
Less	EXPENSES
		Purchase	4.997	1.374	0.921
		Labour Expenses	3.552	4.604	0.000
		Other Expenses [W.C.]	0.550	0.507	0.000
		Site Expenses	0.414	0.364	0.000
		Water Expenses	0.200	0.128	0.000
		Bank Charges and Interest	0.119	0.120	0.137
		Conveyance Expenses	0.207	0.225	0.014
		Hiring Expenses	0.148	0.133	0.000
		Office Expenses	0.159	0.209	0.020
		Other Expenses	0.044	0.224	0.055
		Repairs and Maintenance	0.326	0.305	0.078
		Salary to Staff	0.354	0.336	0.215
		Sales Tax (Vat)	0.636	0.313	0.138
		Other Expenses	0.633	0.322	1.756
		TOTAL	12.339	9.164	3.334
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		1.182	0.874	0.353
Less/ Add	DEPRECIATION/ AMORTISATION		0.015	0.018	0.021
	NET PROFIT		1.167	0.856	0.332

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	8.63	8.53	9.00
Return on Total Assets (PBT/Total Assets}	(%)	16.58	21.97	14.49
Return on Investment (ROI) (PBT/Networth)		0.28	0.33	0.35
Debt Equity Ratio (Total Liability/Networth)		0.15	0.25	0.80
Current Ratio (Current Asset/Current Liability)		2.61	4.25	2.52

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Capital Account	0.950	2.624	4.182
Reserves & Surplus	0.000	0.000	0.000
Net worth	0.950	2.624	4.182
Long-term borrowings	0.764	0.664	0.639
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.764	0.664	0.639
Debt/Equity ratio	0.804	0.253	0.153

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Contract Receipt	3.687	10.038	13.521
		172.254	34.698

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Contract Receipt	3.687	10.038	13.521
Profit	0.332	0.856	1.167
	9.00%	8.53%	8.63%

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	Yes
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	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	Yes
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
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	No
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

------------------------------------------------------------------------------------------------------------------------------

TENTITIVE BALANCE SHEET

[RS. IN MILLION]

SOURCES OF FUNDS		31.03.2016
SHAREHOLDERS FUNDS
1] Capital Account		5.195
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		5.195
LOAN FUNDS
1] Secured Loans		3.641
2] Unsecured Loans		0.000
TOTAL BORROWING		3.641
DEFERRED TAX LIABILITIES		0.000
TOTAL		8.836
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.881
Capital work-in-progress		0.000
INVESTMENT		0.451
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.015
	Sundry Debtors	8.129
	Cash & Bank Balances	0.258
	Other Current Assets	0.000
	Loans & Advances	1.412
Total Current Assets		10.814
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.878
	Other Current Liabilities	0.000
	Provisions	0.432
Total Current Liabilities		3.310
Net Current Assets		7.504
MISCELLANEOUS EXPENSES		0.000
TOTAL		8.836

------------------------------------------------------------------------------------------------------------------------------

TENTITIVE PROFIT & LOSS ACCOUNT

[RS. IN MILLION]

	PARTICULARS		31.03.2016
	SALES
		Contract Receipts	15.555
		Other Income	0.000
		TOTAL (A)	15.555
Less	EXPENSES
		Purchase	5.755
		Direct Expenses	6.217
		Conveyance Expenses	0.219
		Hiring Expenses	0.211
		Office Expenses	0.170
		Other Expenses	0.066
		Repairs and Maintenance	0.381
		Salary paid	0.380
		Transport Expenses	0.191
		Sales Tax (Vat)	0.579
		Other Expenses	0.169
		Work in Progress	(1.015)
		TOTAL (B)	13.323
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.232
Less	FINANCIAL EXPENSES (D)		0.332
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.900
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.155
	PROFIT BEFORE TAX (E-F) (G)		1.745
Less	TAX (H)		0.383
	PROFIT AFTER TAX (G-H) (I)		1.362

------------------------------------------------------------------------------------------------------------------------------

PERFORMANCE AND FINANCIAL INDICATORS

[RS. IN MILLION]

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
(a) Paid up Capital	3.832	4.795	5.955
(b) Net Worth	5.195	6.455	8.007
Less: Revaluation Reserves and Intangibles	0.000	0.000	0.000
Tangibles Net Worth	5.195	6.455	8.007
(c) Investment in subsidiaries/associates/ Fin. Instruments	0.450	0.450	0.450
(d) Net Sales (Percentage increase over previous year)	15.555 15.04%	18.355 18.00%	22.027 20.00%
(e) Other income from	0.000	0.000	0.000
(i)
(ii)
(iii)
(f) Gross Profit	1.900	2.268	2.664
(g) Depreciation	0.156	0.132	0.112
(h) Tax	0.383	0.475	0.500
(i) Net Profit/Loss	1.362	1.661	2.052
(j) Dividend	0.000	0.000	0.000
Percentage	0%	0%	0%
(k) Fixed Assets	0.881	0.749	0.637
(l) Contingent Liabilities not provided for	--	--	--

------------------------------------------------------------------------------------------------------------------------------

FINANCIAL RATIO

[RS. IN MILLION]

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
(a) Current Ratio	1.71	1.84	1.97
(b) Total Debt Equity Ratio	1.34	1.16	1.01
(c) Gross profit/Net Sales (%)	12.22	12.36	12.09
(d) Interest Coverage Ratio	5.57	5.27	6.15
(e) Debt Service Coverage Ratio	2.10	4.44	5.10
(f) Dividend/ Cash Accruals (%)	0.00	0.00	0.00
(g) Investment in Subsidiaries/TNW (%)	8.67	6.98	5.63
(h) Net Profit-Appropriations/ Net Interest Liability	--	--	--

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLION)

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
Gross Sales (net of returns)
Domestic Sales	15.555	18.355	22.027
Export Sales	0.000	0.000	0.000
Job-Work	0.000	0.000	0.000
TOTAL	15.555	18.355	22.027
Less: Excise Duty/ Sales Tax	0.000	0.000	0.000
Net Sales (1-2)	15.555	18.355	22.027
%age rise or fall in Net sales as compared to the previous year	15.04	18.00	20.00
Cost of Sales:
i) Raw Material Consumption
Imported	0.000	0.000	0.000
Indigenous	5.755	6.791	8.150
ii) Stores, Spares and Consumables
Imported	0.000	0.000	0.000
Indigenous	0.000	0.000	0.000
Power, Fuel and Water	0.000	0.000	0.000
Direct Labour and Other Expenses	4.351	4.956	5.947
Other Manufacturing Expenses	1.867	2.205	2.645
Depreciation	0.156	0.132	0.112
Sub total (i to vi)	12.128	14.085	16.855
Add: Opening Stock-in-process	0.000	1.015	2.091
Sub total	12.128	15.101	18.946
Less: Closing Stock-in-process	1.015	2.091	3.240
Subtotal (Cost of Production)	11.113	13.010	15.705
% to Net Sales	71.44	70.88	71.30
Add: Opening stock of finished goods	0.000	0.000	0.000
Subtotal	11.113	13.010	15.705
Less: Closing stock of finished goods	0.000	0.000	0.000
Subtotal (Cost of Sales)	11.113	13.010	15.705
% to Net Sales	71.44	70.88	71.30
Selling, general and Administrative Expenses	2.366	2.790	3.350
Subtotal (5+6)	13.478	15.800	19.055
Operating Profit before Interest (3-7)	2.077	2.556	2.972
Interest and Lease Rent	0.332	0.420	0.420
Operating Profit after Interest (8-9)	1.745	2.136	2.552
Other Income/ (Expenses)	0.000	0.000	0.000
Transferred to Deferred Revenue Expenses	0.000	0.000	0.000
Deferred Revenue Expenditure Written Off	0.000	0.000	0.000
Profit Before Tax	1.745	2.136	2.552
Provision for Taxes	0.383	0.475	0.500
Net Profit (14-15)	1.362	1.661	2.052
Equity Dividend Paid	0.000	0.000	0.000
Rate of Dividend (%)	0%	0%	0%
Retained Profit (16-17)	1.362	1.661	2.052
Retained Profit/ Net Profit/ (%)	100%	100%	100%
Cash Accruals (14+5(vi) + 13)	1.518	1.793	2.164

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLION)

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
LIABILITIES
Current Liabilities
Short term borrowings from Banks
Bank of Maharashtra	0.000	0.000	0.000
Bank of India – CC Required	3.000	3.000	3.000
Indian Overseas bank	0.000	0.000	0.000
Bank of Baroda	0.000	0.000	0.000
Central Bank of India	0.000	0.000	0.000
Bills Discounted	0.000	0.000	0.000
Bills Discounted outside MPBF	0.000	0.000	0.000
Interest accrued and due	0.000	0.000	0.000
Sub-total (A)	3.000	3.000	3.000
Short term borrowings from others	0.000	0.000	0.000
Sundry Creditors (trade)	2.878	3.396	4.075
Advance payment from customers/ deposit from Dealers	0.000	0.000	0.000
Net Tax Liability	0.000	0.000	0.000
Dividend Payable	0.000	0.000	0.000
Other Statutory Liabilities (due within one year)	0.000	0.000	0.000
Deposits/Term Loan Instt./ Debentures/DPGs maturing within one year	0.000	0.000	0.000
Other Current Liabilities and Provisions (due within one year)	0.433	0.525	0.550
(Specify major items separately)
Creditors for Capital Goods	0.000	0.000	0.000
Liability for Expenses	0.000	0.000	0.000
Interest charges accrued and due	0.000	0.000	0.000
Interest accrued but not due	0.000	0.000	0.000
Sub-total (B)	3.310	3.921	4.625
Total Current Liabilities (1 to 9)	6.310	6.921	7.625
Term Liabilities
Debentures	0.000	0.000	0.000
Preference Shares (redeemable after 1 year)	0.000	0.000	0.000
Term Loans – Bank of India	0.641	0.563	0.476
Deposits/ Term Loan Installment/Debentures/DPG maturing within 1 year	0.000	0.000	0.000
Deferred Payment Credits [excluding installments payable within 1 year]	0.000	0.000	0.000
Term Deposits (repayable after 1 year)	0.000	0.000	0.000
Other Term Liabilities:- Unsecured Loan	0.000	0.000	0.000
Interest-free long term loan under incentive scheme of Govt of Maharashtra	0.000	0.000	0.000
Total Term Liabilities	0.641	0.563	0.476
Total Outside Liabilities (Item 10 plus 17)	6.951	7.483	8.101
Non Current Liabilities	0.000	0.000	0.000
Net Worth
Ordinary Share Capital	3.832	4.795	5.955
Advance against share capital	0.000	0.000	0.000
A) Interest-free long term loan under incentive scheme of Govt of Maharashtra
Capital Reserve	0.000	0.000	0.000
General Reserve	0.000	0.000	0.000
Revaluation Reserve	0.000	0.000	0.000
Other Reserve (excluding provisions)	0.000	0.000	0.000
Preference Share/quasi equity	0.000	0.000	0.000
Surplus/Deficit in P & L a/c	1.362	1.661	2.052
Net worth	5.195	6.455	8.007
TOTAL LIABILITIES (18+26)	12.146	13.938	16.107
ASSETS
Current Assets
Cash and Bank Balances	0.258	0.283	0.309
Investments (other than long term investments, eg sinking fund etc)	0.000	0.000	0.000
Govt and other trustee securities	0.093	0.093	0.093
Fixed deposits with banks and Others	1.319	1.319	1.319
Receivables	8.128	8.953	10.059
Export Receivables	0.000	0.000	0.000
Installments of deferred receivables (due within year)	0.000	0.000	0.000
Inventory
Raw Material
Imported	0.000	0.000	0.000
Indigenous	0.000	0.000	0.000
Stock in progress (WIP)	1.015	2.091	3.240
Finished Goods	0.000	0.000	0.000
Other consumable spares	0.000	0.000	0.000
Advance to suppliers of raw material and stores/ spare consumables	0.000	0.000	0.000
Advance payment of tax/ Excise	0.000	0.000	0.000
TDS	0.000	0.000	0.000
Advance against Technical knowhow	0.000	0.000	0.000
Other current assets (Loans and advances)	0.000	0.000	0.000
Total Current Assets	10.814	12.739	15.020
Fixed Assets
Gross Block (Land and Building, Machinery, Construction in progress etc)	0.087	0.881	0.749
Advances to suppliers of capital goods and capital expenditure	0.950	0.000	0.000
Depreciation to date	0.156	0.132	0.112
Net Block (37+38-39)	0.881	0.749	0.637
Other Non-Current Assets
Investment etc. which are not current assets
Investments	0.450	0.450	0.450
Others and affiliates*** Overdue Debtors	0.000	0.000	0.000
Advance to suppliers of capital goods and capital expenditure	0.000	0.000	0.000
Others (F.D. with banks and others)	0.000	0.000	0.000
Non consumable stores and spares	0.000	0.000	0.000
Other misc. assets include dues from directors	0.000	0.000	0.000
Total Other Non-Current Assets (41 to 43)	0.450	0.450	0.450
Intangible Assets and Deferred Revenue Expenditure	0.000	0.000	0.000
TOTAL ASSETS (36+40+44+45)	12.145	13.938	16.107
Tangible Networth	5.195	6.455	8.007
Liabilities – Assets (should be equal to 0)	0.000	0.000	0.000

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RATIO ANALYSIS

(RS. IN MILLION)

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
Liquidity Ratios
Current Ratio	1.71	1.84	1.97
Current Ratio considering term liabilities maturing within 1 year as current	1.71	1.84	1.97
Net Working Capital	4.504	5.818	7.395
Bank Finance to WC Gap	0.67	0.52	0.41
Bank Finance to Current Liabilities	0.48	0.43	0.39
Investment Ratios
Return on Investment (PBIT/ Investment)	34.67	35.74	34.57
Return on Equity	26.22	25.73	25.62
Profitability Ratios
Gross Operating Margin	11.89	12.06	11.73
Net Operating margin	8.76	9.05	9.31
Raw Material to COP	51.79	52.20	51.89
Stores and Spares to COP	0.00	0.00	0.00
Power, Fuel and Water to COP	0.00	0.00	0.00
Direct Labour to COP	39.15	38.10	37.87
Other Manufacturing Expenses to COP	16.80	16.95	16.84
Selling, general and Administrative Expenses to Sales	17.55	17.66	17.58
Interest to Sales	2.14	2.29	1.91
Leverage Ratios
Long Term Debt-Equity Ratio	0.12	0.09	0.06
Total Debt-Equity Ratio	1.34	1.16	1.01
Interest Coverage Ratio	5.57	5.27	6.15
DSCR	2.10	4.44	5.10
Turnover Ratios
Inventory Turnover Ratio	9.14	16.07	20.63
Receivables Turnover Ratio	52.25	48.77	45.67
Interest/ All Loans	4.78	5.61	5.18
Average Collection Period	162	151	142

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COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLION)

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
CURRENT ASSETS
Raw materials
(a) Imported	0.000	0.000	0.000
Months consumption	0.00	0.00	0.00
(b) Indigenous	0.000	0.000	0.000
Months consumption	0.00	0.00	0.00
Other consumable spares	0.000	0.000	0.000
Months consumption	0.00	0.00	0.00
Stocks in progress	1.015	2.091	3.240
Months cost of production	0.00	0.00	0.00
Finished Goods	0.000	0.000	0.000
Months cost of Sales	0.00	0.00	0.00
(i) Receivables other than export and deferred receivables including bills purchased/ discounted by banks	8.128	8.953	10.059
Months domestic sales	0.00	0.00	0.00
(ii) Export Receivables	0.000	0.000	0.000
Months export sales	0.00	0.00	0.00
Advance to suppliers of raw material and stores/spares and consumables	0.000	0.000	0.000
Other Current Assets including cash and bank balances and deferred receivables due within 1 year	0.258	0.283	0.309
Investment and Bank FDR	1.412	1.412	1.412
TOTAL CURRENT ASSETS (To agree with item 36 as in form III)	10.814	12.739	15.020
CURRENT LIABILITIES
Creditors for purchase of raw material and stones etc.	2.878	3.396	4.075
Months purchase	0.00	0.00	0.00
Advance from Customers	0.000	0.000	0.000
Statutory Liabilities	0.000	0.000	0.000
Other Current Liabilities	0.433	0.525	0.550
TOTAL CURRENT LIABILITIES (to agree with sub total (B) as in form III)	3.310	3.921	4.625

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLION)

PARTICULARS	2015-16 Estimated	2016-17 Projection	2017-18 Projection
Total Current Assets (9 in form IV)	10.814	12.739	15.020
Other Current Liabilities (other than Bank borrowing and Term Loans repayable in 1 year-14 of Form IV-B)	3.310	3.921	4.625
Working Capital Gap (1-2)	7.504	8.818	10.395
Minimum stipulated Net WC (25% of Total Current Assets)	2.703	3.185	3.755
Actual/ projected Net WC	4.504	5.818	7.395
Item 3 minus Item 4	4.800	5.633	6.640
Item 3 minus Item 5	3.000	3.000	3.000
Maximum Permissible Bank Finance (lower of Item 6 or 7 whichever is lower)	3.000	3.000	3.000
Excess Borrowings (Item 5 – Item 4)	0	0	0

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COMPANY PROFILE

STATUS OF THE CONTRACTOR

He is Class 4 Registered Govt. PMC and Class 5 of Govt. PWD Civil Contractor Certificates.

The business of civil contractor has been already big and broad created works in PMC Pune – 411005 around Pune PMC and PWD area. The Contractor have various works order. Newly speed up at side this work requires to be completed at the earliest as per work order period, so contractor needs some working capital to complete the works as early as possible.

WORK EXPERIENCE

In order to know the intricacies of business and in order to know the details of the business activities, the style of its working etc. due to proprietor has gained the rich experience in the field, he is getting the valuable contract from all sphere of civil construction. He is responsible for the entire working of the business and was controlling the day to day work of the business.

SCOPE FOR BUSINESS

In addition to the above entire belt is developing very fast as PMC and PWD area the nearest Pune City. This also are the business line activities in this area to which the good bright future. The proprietor Mr. Vipul K. Thorat fit the capable contractor in this area. Contractor having good quality of works, capable to complete the work within time span and complied before tender period.

FINANCIAL OUTLAY

The requirement for meeting working capital needs under target group and eligibility, purpose, nature of activity, quantum of limit, appraisal of loan, margin, security etc.

SECURITY OFFERS

The proprietor will offer primary security as the own business current assets and collateral security such as Flat at Kothrud.

Secondly hypothecation of debtors, bill receivable for fund base cash working capital limit and non-fund limit bank guarantee. Requirement was full fill and its margin also maintains the proprietor against the work order.

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FIXED ASSETS

· Office Building

· Plant and Machinery

· Vehicles

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. 65.98
UK Pound	1	Rs. 100.11
Euro	1	Rs. 70.35

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--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		50

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.