MIRA INFORM REPORT

Report No. :	347328
Report Date :	28.10.2015

IDENTIFICATION DETAILS

Name :	SPG MACROCOSM LIMITED (w.e.f. 14.03.2013)
Formerly Known As :	SPG PETROLEUM LIMITED
Registered Office :	89, M. G. Marg, Sendhwa, Barwani – 451666, Madhya Pradesh
Mob. No.:	91-7208077789 (Mr. Kuldeep)
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	08.03.1995
Com. Reg. No.:	10-023447
Capital Investment / Paid-up Capital :	Rs. 4.550 Million
CIN No.: [Company Identification No.]	U67120MP1995PLC023447
IEC No.:	0301036624
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAICS6195F
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Trader of Steel, Coal, Fabric.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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 was incorporated in the year 1995, having satisfactory track. It is a trader of steel, coal and fabrics. As per unaudited financials for the year 2015, the company has achieved decent sales turnover which has increased as compared to previous year, however reported low profit margin. The company possesses decent net worth base marked by huge increase in its cash accurals and good liquidity position. Trade relations are fair. Business is active. Payments are slow but correct. 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. Kuldeep
Designation :	Chartered Accountant
Contact No.:	91-22-40907103
Date :	27.10.2015

LOCATIONS

Registered Office :	89, M. G. Marg, Sendhwa, Barwani – 451666, Madhya Pradesh, India
Tel. No.:	91-22-40907103
Mobile No.:	91-7208077789 (Mr. Kuldeep)
Fax No.:	Not Divulged
E-Mail :	kuldeep@spg.net.in
Website :	http://www.spg.net.in
Location :	Owned
Locality :	Commercial
Corporate Office :	Shop No. 1, Pratibha Building, R. B. Mehta, Near Cinemas Bank, Ghatkopar (East), Mumbai – 400077, Maharashtra, India
Warehouse :	B-B, Gala No. 7, Ground Floor, Parasnath Complex, Aniurphata Road, Owali Village, Bhiwandi, Thane – 421302, Maharashtra, India
Area :	1275 sq. ft.
Location :	Rented
Locality :	Industrial

DIRECTORS

AS ON 29.09.2014

Name :

Madanlal Goyal

Designation :

Director

Address :

89, M.G. Marg, Sendhwa,, Barwani, Madhya Pradesh – 451666, Madhya Pradesh, India

Date of Birth/Age :

21.01.1947

Date of Appointment :

01.02.2009

DIN No.:

00456394

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	U99999MH2003PTC138703	Gooddeal Properties Private Limited	Director	14/07/2005	14/07/2005	-	Active	NO
2	U45200MH2006PTC160006	SPG Multi Trade Private Limited	Director	01/03/2007	01/03/2007	-	Active	NO
3	U67120MP1995PLC023447	SPG MACROCOSM LIMITED	Director	01/02/2009	01/02/2009	-	Active	NO
4	U70100MH2010PTC200592	SPG Ventures Private Limited	Director	05/03/2010	05/03/2010	-	Active	NO
5	U41000MH2010PTC203159	DEV WATER TECHNOLOGY PRIVATE LIMITED	Director	13/05/2010	13/05/2010	-	Active	NO
6	L51900MH1985PLC036708	GANON TRADING AND FINANCE CO LTD	Director	29/09/2012	27/08/2012	-	Active	NO
7	U92412WB1994PTC062913	KRISHNAMANI HOLDINGS PVT. LTD.	Director	28/08/2012	28/08/2012	-	Active	NO

Name :

Hari Prasad Agrawal

Designation :

Director

Address :

408 Indrapuri Anish Heritage, F No. 203, Indore – 452025, Madhya Pradesh, India

Date of Birth/Age :

22.04.1966

Date of Appointment :

08.12.2003

DIN No.:

02476724

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	U67120MP1995PLC023447	SPG MACROCOSM LIMITED	Director	08/12/2003	08/12/2003	-	Active	NO
2	U51909WB2009PTC133485	PRATIK DISTRIBUTORS PRIVATE LIMITED	Director	23/03/2009	23/03/2009	-	Under Process of Striking off	NO
3	U45200MH2006PTC160006	SPG Multi Trade Private Limited	Director	01/04/2009	01/04/2009	-	Active	NO
4	U92412WB1994PTC062913	KRISHNAMANI HOLDINGS PVT. LTD.	Director	01/11/2011	01/11/2011	-	Active	NO
5	L51900MH1985PLC036708	GANON TRADING AND FINANCE CO LTD	Whole-time director	04/09/2015	27/08/2012	-	Active	NO

Name :

Kanak Mangal

Designation :

Director

Address :

408, Indrapuri, Indore – 452017, Madhya Pradesh, India

Date of Birth/Age :

23.01.1998

Date of Appointment :

29.09.2011

DIN No.:

03582631

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	U67120MP1995PLC023447	SPG MACROCOSM LIMITED	Director	29/09/2011	29/09/2011	-	Active	NO
2	U45200MH2006PTC160006	SPG Multi Trade Private Limited	Director	29/09/2011	29/09/2011	28/08/2012	Active	NO
3	U92412WB1994PTC062913	KRISHNAMANI HOLDINGS PVT. LTD.	Director	29/09/2011	29/09/2011	28/08/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Kuldeep
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS

AS ON 29.09.2014

Names of Shareholders	No. of Shares
Shaily Prince Goyal	5100
Puspadevi Agarwal	33000
Ajay Agarwal	21500
Deepak Agarwal	100
Sunil Agarwal	100
Hariprasad Agarwal	200
Madanlal Goyal	45000
SPG Ventures Private Limited, India	350000
Total	455000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Bodies corporate	76.92
Directors or relatives of Directors	23.08
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Steel, Coal, Fabric.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	L/C and Credit (30/60 days)
Purchasing :	L/C and Credit (30/60 days)

GENERAL INFORMATION

Suppliers :

Reference :	Maxgrow Overseas Limited
Name of the Person :	Ms. Mrunal (Account Department)
Contact No.:	91-22-66067200
Since How Long Known :	10 Years
Experience :	Excellent
Maximum Limit Dealt :	Rs. 20.000 Million Per Month
Remark :	Ms. Mrunal informed that SPG Macrocosm Limited is one of the best customer for them and they satisfied with payment behavior overall it’s a good ccompany.

Customers :

Wholesalers, Retailers and End Users

Reference :	Pratibha Industries Limited
Name of the Person :	Mr. Vikas Kotiyan (Banking and Finance)
Contact No.:	91-22-39559999
Since How Long Known :	3 Years
Experience :	Excellent
Maximum Limit Dealt :	Rs. 60.000 Million monthly
Remark :	Mr. Vikas Kotiyan gave positive response about subject in term of product quality delivery behavior. Overall its good company.

No. of Employees :

12 (Approximately)

Bankers :

Banker Name	IDBI Bank
Branch Address	Rupa Plaza, Ground Floor, Jawahar Road, Plot No. 4, TPS, 1 Near RIC Building, Ghatkopar (East), Mumbai, Maharashtra, India
Person Name (With Designation)	Mr. Mayur Vagole (Assistant Manager)
Contact Number	91-22-25010077/25010013
Name of Account Holder	SPG Macrocosm Limited
Account Number	033102000011635
Account Since (Date/Year of Account Opening)	2010
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Current Account
Account Operation	Satisfactory
Remarks (If any)	Mr. Mayur gave positive response about subject company, they satisfied with that company.

Auditors :
Name :	G. M. Purohit and Company Chartered Accountants
Address :	212, 213, Tapo Commercial Centre, Ram Mandir Road, Opposite Movie Star, Goregaon (West), Mumbai – 400104, Maharashtra, India
Mobile No.:	91-9820235487
Fax No.:	91-22-66959607/66959608
E-Mail :	gmpurohitca@gmail.com
PAN No.:	AADPP8920F
Memberships :	--
Collaborators :	--
Holding Company (AS ON 31.03.2014):	SPG Venture Private Limited
Associates (AS ON 31.03.2014):	· SPG Multi Trade Private Limited · Shivam Investments · Krishnamani Holding Private Limited · Ganon Trading and Finance Company Limited

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
455000	Equity Shares	Rs.10/- each	Rs. 4.550 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.550	4.550	4.550
(b) Reserves & Surplus	9.291	8.818	8.698
(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)	13.841	13.368	13.248
(3) Non-Current Liabilities
(a) Unsecured loans	31.447	24.325	3.800
(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	0.000
Total Non-current Liabilities (3)	31.447	24.325	3.800
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	387.478	53.593	25.720
(c) Other current liabilities	0.186	0.122	0.246
(d) Short-term provisions	0.375	0.184	0.000
Total Current Liabilities (4)	388.039	53.899	25.966
TOTAL	433.327	91.592	43.014
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.040
(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)	0.000	0.000	0.021
(d) Long-term Loan and Advances	12.638	33.552	27.341
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.638	33.552	27.402
(2) Current assets
(a) Current investments	0.001	0.001	0.001
(b) Inventories	15.887	0.000	0.000
(c) Trade receivables	400.548	50.801	12.109
(d) Cash and cash equivalents	3.453	6.866	1.067
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.800	0.372	2.435
Total Current Assets	420.689	58.040	15.612
TOTAL	433.327	91.592	43.014

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	667.803	146.650	45.319
	Other Income	0.000	9.065	1.955
	TOTAL	667.803	155.715	47.274
Less	EXPENSES
	Purchases of Stock-in-Trade	679.530	144.563	44.330
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(15.887)	0.000	0.063
	Employees benefits expense	0.720	0.000	0.510
	Other expenses	2.036	10.919	1.823
	TOTAL	666.399	155.482	46.726
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1.404	0.233	0.548
Less	FINANCIAL EXPENSES	0.680	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	0.724	0.233	0.548
Less/ Add	DEPRECIATION/ AMORTISATION	0.000	0.010	0.015
	PROFIT BEFORE TAX	0.724	0.223	0.533
Less	TAX	0.251	0.104	0.162
	PROFIT AFTER TAX	0.473	0.119	0.371
	Earnings Per Share (Rs.)	1.04	0.26	0.82

Expected Sales (2015-16): Rs. 1000.000 Million

The above information has been parted by Mr. Kuldeep (Chartered Accountant)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.07	0.08	0.82
Operating Profit Margin (PBIDT/Sales)	(%)	0.21	0.16	1.21
Return on Total Assets (PBT/Total Assets}	(%)	0.17	0.24	1.24
Return on Investment (ROI) (PBT/Networth)		0.05	0.02	0.04
Debt Equity Ratio (Total Debt /Networth)		2.27	1.82	0.29
Current Ratio (Current Asset/Current Liability)		1.08	1.08	0.60

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.550	4.550	4.550
Reserves & Surplus	8.698	8.818	9.291
Share Application money pending allotment	0.000	0.000	0.000
Net worth	13.248	13.368	13.841
Unsecured	3.800	24.325	31.447
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	3.800	24.325	31.447
Debt/Equity ratio	0.287	1.820	2.272

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)
Sales	45.319	146.650	667.803
		223.595	355.372

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	45.319	146.650	667.803
Profit	0.371	0.119	0.473
	0.82%	0.08%	0.07%

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)	No
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	No
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	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

NOTE: Registered office of the company has been shifted from G-2, Prabha Canara Bank, Building Ground B, Mehta Marg, Ghatkopar, Mumbai, Maharashtra, India to the present address w.e.f. 11.02.2010.

UNSECURED LOAN

PARTICULARS	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Unsecured loans	31.447	24.325
Total	31.447	24.325

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

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 :	GYT
Analysis Done by :	AMT
Report Prepared by :	JYO

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	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	3
--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		41

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.