MIRA INFORM REPORT

Report No. :	349245
Report Date :	25.11.2015

IDENTIFICATION DETAILS

Name :	GLOBAL ALUMINIUM PRIVATE LIMITED
Registered Office :	# 5-2-196/1, Distillery Road, Secunderabad-500003, Telangana
Tel No.:	91-40-27540133
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.03.1996
Com. Reg. No.:	36-023581
Capital Investment / Paid-up Capital :	Rs.140.666 Million
CIN No.: [Company Identification No.]	U27203TG1996PTC023581
IEC No.:	0997004924
TAN No.: [Tax Deduction & Collection Account No.]	HYDG00840A
PAN No.: [Permanent Account No.]	AAACG7398C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture of premium quality aluminum profiles.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 690000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Global Aluminium Private Limited incorporated in 1996 and based in Andhra Pradesh, Telangana. It is engaged in manufacturing of aluminum profiles. It is having moderate track record. The rating reflects moderate financial risk profile marked by low profit margin and huge borrowings recorded by the company. Moreover, the rating weakness is partially offset by company’s long track record of business operation supported by good asset base of the company. Trade relations are reported as fair. Business is active. Payments terms are reported as slow but correct. The company can be considered for business dealings 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.

HENKEL RATING

HENKEL’s Rating :

400 (High risk) 450 (Very high risk)

Credit Rating	Henkel Rating (Customer Risk Assesment- CRA)
Mira Inform	Risk Category	Credit Limit	Description
Aaa	100	Inter Company, credit limit not required	Very low risk (blue ships)
Aa	200, 201	(120% of Gross Annualised Sales/365)*Credit Term.	Low risk
A	300, 301	(100% of Gross Annualised Sales/365)*Credit Term.	Moderate risk
Ba	350	(90% of Gross Annualised Sales/365)*Credit Term.	Significant risk
B	400	(80% of Gross Annualised Sales/365)*Credit Term.	High risk
	450		Very high risk
Ca or C	500*	NIL/ Legal/ Bad/No Transaction	Doubtful accounts
	007*	NIL	Small unrated customers
	009*	NIL	Inactive customers
	999*	Initially First Invoice vales, CRA will be done and based on report the CL would get revised.	New customer

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	CRISIL
Rating	Long terms rating: BB
Rating Explanation	Moderate risk of default.
Date	06.10.2015

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. Somaya Julu
Designation :	Purchase Manager
Contact No.:	91-9294100880
Date :	24.11.2015

LOCATIONS

Registered / Corporate Office 1 :	# 5-2-196/1, Distillery Road, Secunderabad-500003, Telangana, India
Tel. No.:	91-40-27544267/27540133/27545444
Mobile No.:	91-9294100880 (Mr. Somaya Julu)
Fax No.:	91-40-27544317
E-Mail :	globalalu@yahoo.co.in sales@globalaluminium.org enquiries@globalaluminium.org
Website:	www.globalaluminium.com
Area:	5000 Sq ft (Appx)
Location:	Owned
Locality:	Industrial
Corporate Office 2 :	10/2, 1st Floor, Doddamavalli First Cross, Lalbagh Fort Road, Bangalore - 560 004, Karnataka, India
Tel. No.:	91-80-41146881
Fax No.:	91-80-22221535
E-Mail :	banglore@globalaluminium.com
Factory 1:	SY No. 282, Kallakal Village, Toopran Mandal, Medak District, Andhra Pradesh, India
Tel. No.:	91-8454-250632/250537
Fax No.:	91-40-27544317
E-Mail :	sales@globalaluminium.org enquiries@globalaluminium.org
Factory 2:	Sy No. 157, 158, 161 and 162, Kallakal Village, Toopran Mandal, Medak District, Andhra Pradesh, India
Tel. No.:	91-8454/201202
Mobile No.:	91-9000202403
Delhi Marketing Office:	No. A-87, G Floor, Sector - 4, Noida - 201 301, Uttar Pradesh, India
Email:	skpathak@globalaluminium.com
Overseas Office:	Quakers Hills, NSW - 2763, Sydney, Australia.
Branch Office:	Located at · Chennai · Coimbatore · Mumbai

DIRECTORS

As on 30.09.2014

Name :

Mr. Anil Kumar Agarwal

Designation :

Managing Director

Address :

H. No. 503, Road No. 31, Jubilee Hills, Hyderabad-500033, Telangana, India

Date of Birth/Age :

20.03.1971

Date of Appointment :

21.03.1996

DIN No.:

00423993

PAN No.:

AAMPA4690G

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	U27203TG1996PTC023581	GLOBAL ALUMINIUM PRIVATE LIMITED	Managing director	21/03/1996	21/03/1996	-	Active	NO
2	U65910TG1996PTC025510	P.K.FINVEST PRIVATE LIMITED	Director	16/01/2006	16/01/2006	-	Active	NO
3	U74999TG2010PTC068304	SPECTRUM SURFTECH PRIVATE LIMITED	Director	6/5/2010	6/5/2010	-	Under Process of Striking off	NO
4	U70102TG2010PTC069590	ALANKRITA PROPERTIES PRIVATE LIMITED	Director	21/07/2010	21/07/2010	-	Active	NO

Name :

Mrs. Reena Agarwal

Designation :

Director

Address :

H. No. 503, Road No. 31, Jubilee Hills, Hyderabad-500033, Telangana, India

Date of Birth/Age :

28.11.1979

Date of Appointment :

12.11.2003

DIN No.:

00424042

PAN No.:

AEUPA4695K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Anil Kumar Agarwal	3026600
Krishna Kumar Agarwal	570000
Sumitra Devi Agarwal	4800000
Krishna Kumar Agarwal HUF	900000
Praveen Kumar Agarwal	1200000
P.K. Finvest (P) Limited, India	3330000
Dulari Agarwal	120000
Reena Agarwal	120000
Total	14066600

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	23.67
Directors or relatives of Directors	76.33
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of premium quality aluminum profiles.

Products :

Item Code No.	Product Description
76042100	Extruded Aluminium Profiles, Manufacturing Aluminium Products

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Products :

Raw Material

Countries :

· Saudi Arabia

· Dubai

Terms :

Selling :

Cash and Credit (30,60,90 Days)

Purchasing :

Cash and Credit (30,60,90 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	National Aluminium Company Limited
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 :

End users and OEMS

Reference :	Larson & Tourbo Limited
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 :

200 (Approximately)

Bankers :

· ING Vysya Bank Limited, 8-2-120/76/1/B, Ground Floor, Ashoka Hitech Chambers, Road No.2,Banjara Hills, Hyderabad - 500034, Telangana, India

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

Banker Name	Kotak Mahindra Bank Limited
Branch Address	Banjara Hills, Hyderabad, Telangana, 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
Deferred sales tax loan	16.793	20.316
Other loans and advances, others	20.440	20.440
Short-term borrowings
Other loans and advances, others	508.711	459.673
Loans taken for vehicles	1.203	0.476
Total	547.147	500.905

Auditors :
Name :	Brijmohan Soni and Company Chartered Accountants
Address :	4-1-1236/2C, King Koti Road, ABIDS Hyderabad – 500001, Telangana, India
PAN N Income-tax PAN of auditor or auditor's firm :	AFVPS8515E
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Atari Aluminium
Others related party:	· Lakshmi Polypacks Private Limited, India [U24134TG1992PTC013932]

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs. 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14066600	Equity Shares	Rs.10/- each	Rs. 140.666 Million

FINANCIAL DATA

[all figures are in Rupees Million]

FINANCIAL DEAILS ATTACHED

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	0.000	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(131.958)	(58.398)	(28.887)

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	140.666	140.666	140.666
Reserves & Surplus	61.124	80.998	99.175
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	201.790	221.664	239.841
long-term borrowings	113.791	155.746	257.575
Short term borrowings	191.665	465.293	528.157
Total borrowings	305.456	621.039	785.732
Debt/Equity ratio	1.514	2.802	3.276

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	1549.200	1751.700	2196.900
		13.071	25.415

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	1549.200	1751.700	2196.900
Profit	42.200	19.900	18.200
	2.72%	1.14%	0.83%

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	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	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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 four 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	Yes
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

FINANCIAL RESULT

During the year, the Company’s revenue from operations increased by 25.41% amounting to Rs. 2196.900 Million (previous year- Rs. 1751.700 Million) and the total expenditure was augmented by 26.38% resulting in profit before tax of Rs. 26.600 Million ( previous year- Rs. 36.600 Million) and profit after tax amounted to Rs. 18.200 Million (previous year- Rs. 19.900 Million).

Due to increase in employee cost and finance cost and other expenses, there is a fall in profit of the Company. The Company is taking measures to control cost. It is making efforts to explore new opportunities for expansion of business and is confident of the growth of the Company.

Further, with regard to auditors observation, it is submitted that the Company is maintaining cost and is ensuring necessary compliance. There were no material changes from the date of closure of financial statements till date.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others	220.342	114.990
Short-term borrowings
Deposits from others	18.243	5.144
Total	238.585	120.134

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10322410	26/05/2015 *	580,000,000.00	KOTAK MAHINDRA BANK LIMITED	1-7-1, T.SUBBARAMI REDDY COMPLEX, SARDAR PATEL RO AD, SECUNDERABAD, TELANGANA - 500003, INDIA	C57324014

* Date of charge modification

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Emission reduction equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipment

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.66.38
UK Pound	1	Rs.100.45
Euro	1	Rs.70.55

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	DIV
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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.