MIRA INFORM REPORT

Report No. :	343696
Report Date :	08.10.2015

IDENTIFICATION DETAILS

Name :	AUMUND ENGINEERING PRIVATE LIMITED
Registered Office :	New No.9 (Old No.5), Bazulla Road, T. Nagar, 2^nd Floor, Lakshmi Neela Rite Choice Chambers, Chennai - 600017, Tamilnadu
Tel. No.:	91-44-43936300
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.06.1996
Com. Reg. No.:	18-035709
Capital Investment / Paid-up Capital :	Rs.10.000 Million
CIN No.: [Company Identification No.]	U29130TN1996PTC035709
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHEA02473C
PAN No.: [Permanent Account No.]	AAACA9186A
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into providing engineering and erection services and supply of components to the cement industry.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 579800
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of “AUMUND AG” which is engaged in developing and manufacturing conveying solutions for cement industry, steel and smelting industry, power station, ports and handling terminals, minerals and alternative energies. For the financial year ended 2014, company has reported 25.82% sales turnover growth as compared to previous sales turnover and it has maintained decent profitability margins at 10.87% during the year under a review. Rating also takes into consideration company’s financial profile marked by zero debt balance sheet profile along with adequate networth base and financial as well as managerial support that company receives from its holding company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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

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.

LOCATIONS

Registered Office :	New No.9 (Old No.5), Bazulla Road, T. Nagar, 2^nd Floor, Lakshmi Neela Rite Choice Chambers, Chennai - 600017, Tamilnadu, India
Tel. No.:	91-44-28156048/ 43936300/ 28156049
Fax No.:	91-44-28156046
E-Mail :	aumund@vsnl.net rr.associate@hotmail.com

DIRECTORS

AS ON 31.07.2014

Name :	Mr. Raju Guptha
Designation :	Managing Director
Address :	FL-2C, Block IV, Kences Brindavan, EVR Lane, 142 P. H. Road, Chennai – 600010, Tamilnadu, India
Date of Birth/Age :	25.04.1963
Qualification :	BE (HONS)
Date of Appointment :	30.07.2012
DIN No.:	01816332
Name :	Mr. Anirudharao Durgaprasad Rao
Designation :	Director
Address :	No.27 (Old No.16), M. G. Ramachandran Road, Kalashetra Colony, Chennai – 600 090, Tamilnadu, India
Date of Birth/Age :	31.07.1943
Qualification :	B.E. PGDBM
Date of Appointment :	30.07.2012
DIN No.:	01814350
Name :	Mr. Hans Franz Walker Aumund
Designation :	Director
Address :	Uettel Sheinerweg 105, 47198 Duisburg, Germany
Date of Birth/Age :	30.09.1944
Date of Appointment :	10.06.1996
DIN No.:	02202265
Name :	Mr. Richard Muller
Designation :	Director
Address :	Ruchweid 3, Ch-9917, Oberlunkhofen, Switzerland, 8917
Date of Appointment :	10.02.1999
DIN No.:	03554275

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.07.2014

Names of Shareholders	No. of Shares
Aumund AG, Switzerland	999989
Aumund Forderibav GmbH, Germany	1
Total	999990

Equity Share Break up (Percentage of Total Equity)

As on 31.07.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into providing engineering and erection services and supply of components to the cement industry.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

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 :

Not Available

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
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

Auditors :
Name :	Delitte Haskins and Sells Chartered Accountant
Address :	No.52, Venkatanarayana Road, T. Nagar, Chennai-600017, Tamilnadu, India
Tel. No.:	91-44-66885000
Fax No.:	91-44-66885050
PAN No.:	AAAFA1448A
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Aumund AG
Enterprises over which director has significant influence :	Aumund Fordertechnik GmbH Schade Lagertechnik GmbH Aumund Frances S. A. R. L Aumund Asia (H.K.) Limited Samso Material Handling Limited Aumund Machinery Trading (Beijing) Company Limited Aumund Ltda, Brazil Aumund Holdings B V. Aumund Fordererbau GmbH and Company KG Aumund Logistic GmbH

CAPITAL STRUCTURE

AS ON 31.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
999990	Equity Shares	Rs.10/- each	Rs.10.000 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	10.000	10.000	10.000
(b) Reserves & Surplus	192.943	236.095	334.231
(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)	202.943	246.095	344.231
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	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	1.746
Total Non-current Liabilities (3)	0.000	0.000	1.746
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	72.099	74.736	62.561
(c) Other current liabilities	74.425	78.844	179.233
(d) Short-term provisions	0.890	0.000	0.000
Total Current Liabilities (4)	147.414	153.580	241.794
TOTAL	350.357	399.675	587.771
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.214	5.569	7.313
(ii) Intangible Assets	0.000	0.000	1.664
(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)	1.374	1.562	1.287
(d) Long-term Loan and Advances	1.784	3.354	1.894
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7.372	10.485	12.158
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	181.266	243.255	196.513
(d) Cash and cash equivalents	133.034	119.016	360.562
(e) Short-term loans and advances	26.579	25.030	12.814
(f) Other current assets	2.106	1.889	5.724
Total Current Assets	342.985	389.190	575.613
TOTAL	350.357	399.675	587.771

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		948.033	753.465	1380.523
		Other Income		13.014	11.644	NA
		TOTAL (A)		961.047	765.109	NA
Less	EXPENSES
		Cost of Materials Consumed		664.031	510.175
		Employee Benefits Expenses		64.371	77.135
		Other Expenses		73.720	58.84
		TOTAL (B)		802.122	646.150	NA
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			158.925	118.959
Less	FINANCIAL EXPENSES (D)			0.735	1.166
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			158.190	117.793	NA
Less	DEPRECIATION/ AMORTISATION (F)			1.112	3.373
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			157.078	114.420	210.415
Less	TAX (H)			53.989	38.224	71.858
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			103.089	76.196	138.557
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			125.295	231.031	309.761
Less	APPROPRIATIONS
			Transfer to General Reserve	10.300	7.600	13.900
			Interim Dividend	124.999	149.999	174.998
			Dividend Tax	21.243	24.334	28.389
	BALANCE CARRIED TO THE B/S			71.842	125.295	231.031
	EARNINGS IN FOREIGN CURRENCY
			Agency Commission	12.515	14.071	15.966
			Sale of Drawings	32.344	19.592	13.975
			Service Fees	6.649	5.664	4.685
			Sale of Components	50.687	29.658	27.257
	TOTAL EARNINGS			102.195	68.985	61.883
	IMPORTS			0.000	0.000	0.444
	Earnings Per Share (Rs.)			103.09	76.20	138.56

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	204.161	(36.417)	337.870
Net cash flow from (used in) operating activities	152.821	(78.233)	265.399

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	10.87	10.11	10.04
Operating Profit Margin (PBIDT/Sales)	(%)	16.76	15.79	NA
Return on Total Assets (PBT/Total Assets}	(%)	45.01	28.74	35.88
Return on Investment (ROI) (PBT/Networth)		0.77	0.46	0.61
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.33	2.53	2.38

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	10.000	10.000	10.000
Reserves & Surplus	334.231	236.095	192.943
Share Application money pending allotment	0.000	0.000	0.000
Net worth	344.231	246.095	202.943
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	1380.523	753.465	948.033
		(45.422)	25.823

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	1380.523	753.465	948.033
Profit	138.557	76.196	103.089
	10.04%	10.11%	10.87%

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	No
8	Designation of contact person	No
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	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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

NO CHARGES EXIST FOR THE COMPANY

CORPORATE INFORMATION

Subject is a company registered under the Companies Act, 1956, providing engineering and erection services and supply of components to the cement industry. It also supplies drawings and markets products of its parent / group companies. The company is a wholly owned subsidiary of Aumund AG, Switzerland.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

· Mobile

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.65.25
UK Pound	1	Rs.99.53
Euro	1	Rs.73.46

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		54

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.