MIRA INFORM REPORT

Report No. :	344840
Report Date :	27.10.2015

IDENTIFICATION DETAILS

Name :	HEATFLEX CABLES PRIVATE LIMITED
Registered Office :	SK-42, Sindhora Kalan, Delhi - 110052
Tel. No.:	91-11-23643428
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.10.2003
Com. Reg. No.:	55-122828
Capital Investment / Paid-up Capital :	Rs.1.280 Million
CIN No.: [Company Identification No.]	U31300DL2003PTC122828
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and supplier of Cables and Wires.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 47000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2003 having satisfactory track. Turnover and profit of the company has continuously declined over years. However, the company possesses an above average financial risk profile marked by satisfactory networth base and decent liquidity position of the company. Further, the rating also takes into consideration favorable gap between trade payables and trade receivables. Trade relations are reported as fair. Business is active. Payments terms are reported as slow but correct. The company 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

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 DENIED BY

Name :	Mr. Rattanlal Gupta
Designation :	Director
Contact No.:	91-11-23643428
Date :	24.10.2015

LOCATIONS

Registered Office :	SK-42, Sindhora Kalan, Delhi – 110052, India
Tel. No.:	91-11-23643428
Fax No.:	Not Available
E-Mail :	dineshnangru@gmail.com
Website:	http://www.uniquecables.co.in

DIRECTORS

AS ON 30.09.2014

Name :

Rattan Lal Gupta

Designation :

Director

Address :

A-35, Ashok Vihar, Phase – II, Delhi – 110052, India

Date of Birth/Age :

16.08.1947

Date of Appointment :

27.10.2003

DIN No.:

00149499

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	U31300DL2003PTC122828	HEATFLEX CABLES PRIVATE LIMITED	Director	27/10/2003	27/10/2003	-	Active	NO
2	U29253DL2009PTC193040	BANKEY BEHARI INDUSTRIAL GOODS PRIVATE LIMITED	Director	11/8/2009	11/8/2009	-	Active	NO

Name :

Saurabh Gupta

Designation :

Director

Address :

A-35, Ashok Vihar, Phase – II, Delhi – 110052, India

Date of Birth/Age :

17.01.1984

Date of Appointment :

01.05.2004

DIN No.:

02414691

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Rattan Lal Deoki Nandan Gupta	83000
Saurabh Rattan Lal Gupta	18500
Rattan Lal Gupta (HUF)	12500
Bankey Bihari Industrial Goods Private Limited, India	8000
Shushila Gupta	6000
Total	128000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and supplier of Cables and Wires.
Products :	Flexible copper wire, submersible cables (waterproof and weatherproof) screened and unscreened instrumentation cables and compensating, shot firing cables.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
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 :

• Amar Electricals
• Anand Triplex Board Limited
• Deepak Electrical Chennai
• Vasmoni Engineers Private Limited
• Anand Duplex Limited
• B.S Ispat Limited
• Furnance and Foundary
• JCT Limited
• Lohia Starlinger
• Yoga Traders
• Sonar Bangla cement

No. of Employees :

Information declined by the management

Bankers :

• Indian Bank
• HDFC Bank Limited
• Kotak Mahindra Bank

Banker Name	State Bank Of India
Branch Address	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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Loan and advances from related parties
Rattan Lal Gupta HUF	1.000	1.000
Other Loan and Advances
-Car Loan From Indian Bank	0.533	0.834
Less: Current maturities of long term borrowings	0.372	0.372
Total	1.161	1.462

Note:

LONG TERM BORROWINGS:

Loan from related parties carry interest @ 9% p.a and is expected to be realized after twelve months from the balance sheet date

Vehicle Loan from Indian Bank is taken on 8-11-2012 carries interest @10.70% p.a. (11.00% Up to January 2013) and is expected to be paid in next three years on monthly payment basis from the balance sheet date, secured by the hypothecation of same vehicle. No charge on MCA portal is created by the bank.

Auditors :
Name :	Dinesh Nangru and Company Chartered Accountants
Address :	Chamber No - 301,Street No - 12 1117 Naiwala, Karo, Delhi – 110005, India
Tel. No.:	91-11-47082155
Mobile No.:	91-9212259051
PAN N Income-tax PAN of auditor or auditor's firm :	ABEPN2996H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
128000	Equity Shares	Rs.10/- each	Rs.1.280 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	1.280	1.280	1.280
(b) Reserves & Surplus	15.357	14.401	13.341
(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)	16.637	15.681	14.621
(3) Non-Current Liabilities
(a) long-term borrowings	1.161	1.461	1.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.018
(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)	1.161	1.461	1.018
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	8.462	11.377	16.097
(c) Other current liabilities	3.701	3.465	1.371
(d) Short-term provisions	3.067	2.460	5.015
Total Current Liabilities (4)	15.230	17.302	22.483
TOTAL	33.028	34.444	38.122
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.507	10.055	9.411
(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)	0.169	0.137	0.000
(d) Long-term Loan and Advances	0.276	0.550	0.000
(e) Other Non-current assets	0.000	0.000	0.310
Total Non-Current Assets	9.952	10.742	9.721
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.116	0.693	1.455
(c) Trade receivables	11.060	13.931	16.107
(d) Cash and cash equivalents	6.736	5.682	7.853
(e) Short-term loans and advances	0.985	1.125	0.869
(f) Other current assets	3.179	2.271	2.117
Total Current Assets	23.076	23.702	28.401
TOTAL	33.028	34.444	38.122

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	Turnover	66.136	79.368	94.638
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	1.249	1.345	2.028
Less	TAX	0.297	0.282	0.648
	PROFIT/ (LOSS) AFTER TAX	0.952	1.063	1.380
	Earnings / (Loss) Per Share (Rs.)	7.44	8.30	10.78

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.44	1.34	1.46
Return on Total Assets (PBT/Total Assets}	(%)	3.80	4.44	5.32
Return on Investment (ROI) (PBT/Networth)		0.08	0.09	0.14
Debt Equity Ratio (Total Debt /Networth)		0.07	0.09	0.07
Current Ratio (Current Asset/Current Liability)		1.52	1.14	1.26

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	1.280	1.280	1.280
Reserves & Surplus	13.341	14.401	15.357
Net worth	14.621	15.681	16.637
long-term borrowings	1.000	1.461	1.161
Short term borrowings	0.000	0.000	0.000
Total borrowings	1.000	1.461	1.161
Debt/Equity ratio	0.068	0.093	0.070

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)
Turnover	94.638	79.368	66.136
		(16.135)	(16.672)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Turnover	94.638	79.368	66.136
Profit	1.380	1.063	0.952
	1.46%	1.34%	1.44%

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)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
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 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: Registered office of the company has been shifted from H 1464 DSIDC Narelaindustrial Area

Delhi- 110040, India to the present address w.e.f. 15.11.2008

PERFORMANCE OF THE COMPANY:

During the year the company has achieved the Turnover of Rs.66.136 Million and Net Profit (Before Tax) is of Rs. 1.249 Million as compared to Turnover of Rs.79.368 Million and Net Profit (Before Tax) Rs.1.345 Million for last year. The directors are hopeful for better performance in coming year.

FUTURE PROSPECTS:

The director’s hope that in coming year the Turnover will be more and believe that there is enormous potential for growth in the time to come and with consistent efforts of our stall team your directors hopeful to achieve good turnover and growth in coming Fiscal Year as per the expectations.

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Air conditioner
• Car
• Computer
• Fire Extinguisher
• Generator
• Machinery – Laboratory
• Plant and Machinery
• Tools and Equipment’s
• Motor Pump
• R. O. System
• Water Filter
• Weighting Machine
• Fridge
• Furniture and Fixture
• Invertor

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.64.96
UK Pound	1	Rs.99.55
Euro	1	Rs.71.64

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		45

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.