MIRA INFORM REPORT

Report No. :	346987
Report Date :	28.10.2015

IDENTIFICATION DETAILS

Name :	CARBOTEC (INDIA) PRIVATE LIMITED [W.E.F.09.04.2013]
Formerly Known As :	M-CUBE TOOLINGS PRIVATE LIMITED
Registered Office :	62 and 62/1 Moore Street, Parrys, Chennai – 600001, Tamilnadu
Tel. No.:	91-44-40500500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	31.03.2008
Com. Reg. No.:	18-067131
Capital Investment / Paid-up Capital :	Rs.1.400 Million
CIN No.: [Company Identification No.]	U29220TN2008PTC067131
IEC No.:	0410044270
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAFCM5135N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of cutting tools, milling cutters, boring bars, rapid drills, e-type tool holders and boring bars.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 34000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2008 and is engaged in trading of cutting tools, milliing cutters, boring bars, rapid drills, e-type tool holders and boring bars. It has satisfactory track. For the financial year ended 2014, company’s operational performance seems to be good with decent profit margins. Further, rating also considered company’s acceptable financial profile backed by its adequate networth base, comfortable liquidity position and low debt balance sheet profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered 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 PARTED BY

Name :	Mr. Mustafa Shabbir Rangwala
Designation :	Director
Contact No.:	91-9840132089
Date :	27.10.2015

LOCATIONS

Registered Office :	62 and 62/1 Moore Street, Parrys, Chennai – 600001, Tamilnadu
Tel. No.:	91-44-40500500
Mobile No.:	91-9840132089 (Mr. Mustafa)
Fax No.:	91-44-42160440
E-Mail :	knpchennai@gmail.com carbotecindia@gmail.com
Website :	http://www.carbotecindia.com
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :

Mustafa Shabbir Rangwala

Designation :

Managing Director

Address :

Old No 41, New No 98, Sembudoss Street, 2nd Floor, Chennai - 600001, Tamilnadu, India

Date of Birth/Age :

22.11.1977

Date of Appointment :

26.12.2013

DIN No.:

01781677

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	U51433TN2005PTC058317	KORUTECH INDIA PRIVATE LIMITED.	Managing director	27-12-2013	15-12-2005	-	Active	NO
2	U29220TN2008PTC067131	CARBOTEC (INDIA) PRIVATE LIMITED	Managing director	26-12-2013	31-03-2008	-	Active	NO

Name :

Alafiya Mustafa Rangwala

Designation :

Director

Address :

Old No.41, New No.98, Sembudoss Street, 2nd Floor, Chennai - 600001, Tamilnadu, India

Date of Birth/Age :

25.07.1970

Date of Appointment :

30.09.2010

DIN No.:

03126575

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Mustafa S. Rangwala	30000	21.43
Murtuza S. Rangwala	30000	21.43
Bhagawati Tracom Private Limited, India	25000	17.86
Vibhakar Trading Private Limited, India	50000	35.71
Alafiya Rangwala	5000	3.57
Total	140000	100.00

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 :	Trader of cutting tools, milling cutters, boring bars, rapid drills, e-type tool holders and boring bars.
Products :	Thread Button Bits Taper Rock Drilling Tools Bits Special Machine Cutting Tools Multi Material Application Taps CBN Cutting Inserts GSM Cutter etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
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 :	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 :

End Users and OEMs

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 :

10 (Approximately)

Bankers :

• Standard Chartered Bank, No.19, 2nd Floor, Rajaji Salai, Chennai - 600001, Tamilnadu, India

Banker Name	Yes Bank Limited
Branch Address	9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-66699000 (Non-cooperative)
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)	Cash/ Credit = Rs.8.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Khicha and Prabu Kesavan Chartered Accountant
Address :	6-Ff, First Floor, Golden Enclave, 184, Poonamallee High Road, Kilpauk, Chennai – 600001, Tamilnadu, India
Tel. No.:	91-44-2661252/32944257/25298803
E-Mail :	kpkchennai@yahoo.co.in
Website:	www.kpkca.com
PAN N Income-tax PAN of auditor or auditor's firm :	AACFP3570E
Memberships :	Not Available
Collaborators :	Not Available
Enterprise over which KMP or their relative exercise significant influence:	Korutech India Private Limited Safe Tools Company

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
140000	Equity Shares	Rs.10/- each	Rs.1.400 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	1.400	1.400	1.350
(b) Reserves & Surplus	10.339	8.854	7.504
(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)	11.739	10.254	8.854
(3) Non-Current Liabilities
(a) long-term borrowings	6.551	5.131	4.657
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.285	0.375	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	6.836	5.506	4.657
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	6.981	3.156	1.845
(c) Other current liabilities	3.117	2.222	0.916
(d) Short-term provisions	0.678	0.485	0.246
Total Current Liabilities (4)	10.776	5.863	3.007
TOTAL	29.351	21.623	16.518
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.162	0.106	0.066
(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)	0.003	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.165	0.106	0.066
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.122	9.717	6.606
(c) Trade receivables	16.014	8.605	7.724
(d) Cash and cash equivalents	5.653	1.529	0.942
(e) Short-term loans and advances	0.898	0.471	0.210
(f) Other current assets	1.499	1.195	0.970
Total Current Assets	29.186	21.517	16.452
TOTAL	29.351	21.623	16.518

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	53.630	46.048	28.705
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	2.160	1.535	NA
Less	TAX	0.675	0.085	NA
	PROFIT/ (LOSS) AFTER TAX	1.485	1.450	0.555
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value Traded Goods	0.482	0.017
	TOTAL EARNINGS	0.482	0.017	0.000
	IMPORTS
	Traded Goods	24.815	27.831	17.188
	TOTAL IMPORTS	24.815	27.831	17.188
	Earnings / (Loss) Per Share (Rs.)	10.61	10.36	3.96

Particulars	31.03.2015
Sales Turnover (Approximately)	60.000

The above information has been parted by Mr. Mustafa (Director).

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 / Total Income)	(%)	2.77	3.15	1.93
Return on Total Assets (PBT/Total Assets}	(%)	7.36	7.10	0.00
Return on Investment (ROI) (PBT/Networth)		0.18	0.15	0.00
Debt Equity Ratio (Total Debt /Networth)		0.56	0.50	0.53
Current Ratio (Current Asset/Current Liability)		2.71	3.67	5.47

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	1.350	1.400	1.400
Reserves & Surplus	7.504	8.854	10.339
Net worth	8.854	10.254	11.739
long-term borrowings	4.657	5.131	6.551
Short term borrowings	0.000	0.000	0.000
Total borrowings	4.657	5.131	6.551
Debt/Equity ratio	0.526	0.500	0.558

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)
Total Income	28.705	46.048	53.630
		60.418	16.465

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	28.705	46.048	53.630
Profit	0.555	1.450	1.485
	1.93%	3.15%	2.77%

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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last 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	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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and Advances from Related Parties	2.281	1.003
Loans and Advances from Others	4.270	4.128
Total	6.551	5.131

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10471794	06/01/2014	8,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI-  400018, MAHARASHTRA, INDIA	B94100195

FIXED ASSETS

• Vehicles
• Computer and Peripherals
• Furniture and Fittings
• Plant and Machinery

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.99.73
Euro	1	Rs.71.84

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	HEE
Report Prepared by :	GEET

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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 Businesss	--

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.