MIRA INFORM REPORT

Report No. :	347614
Report Date :	31.10.2015

IDENTIFICATION DETAILS

Name :	PLAST-O-TOOL ENGINEERS
Registered Office :	Universal Paint Compound, Military Road, Opposite Hari Prasad Restaurant, Marol, Andheri (East), Mumbai – 400059, Maharashtra
Tel. No.:	91-22-29201929
Country :	India
Financials (as on) :	31.03.2015 (Unaudited)
Date of Incorporation:	27.01.2011
Capital Investment / Paid-up Capital :	Rs.0.758 Million
VAT/ TIN No.:	27760814912V
IEC No.:	0313019983
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	BIRPS2848J
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer and Exporter of Dies and Moulds.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was established in the year 2011 as proprietary firm and it is a manufacturer and exporter of dies and moulds. Rating remain constrained on account of firm’s small scales of business operations marked by its low net worth base along with below average debt coverage indicators and moderate liquidity position. As per the unaudited financial record of 2015, firm has reported 59.88% growth in its revenue profile and it has maintained profit margins at 7.58% during the year under a review. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, the firm 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.

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. Danish Mohd Aslam Siddique
Designation :	Proprietor
Contact No.:	91-9920189246
Date :	29.10.2015

LOCATIONS

Registered Office/ Factory :	Universal Paint Compound, Military Road, Opposite Hari Prasad Restaurant, Marol, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-29201929
Mobile No.:	91-9920189246 (Mr. Danish Mohd Aslam Siddique)
Fax No.:	91-29204435
E-Mail :	plastotooleng@hotmail.com
Area :	600 sq. ft.
Location :	Leased
Locality:	Commercial

SOLE PROPRIETOR

Name :	Mr. Danish Mohd Aslam Siddique
Designation :	Proprietor
Address :	Flat No.43, Building No.B-1, Vijay Sonal CHS, Vijay Nagar, Marol Maroshi Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Date of Birth/Age :	30 Years
Qualification :	Graduate
Experience :	10 Years

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Dies and Moulds.
Products :	Dies Moulds
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Saudi Arabia
Imports :	Not Available
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

GENERAL INFORMATION

Suppliers :

Reference :	B.S. Steel Corporation, Goregaon, Mumbai, Maharashtra, India
Name of the Person :	Mr. Rajesh Dhanuka (Proprietor)
Contact No.:	91-9819181218
Since How Long Known :	4 Years
Maximum Limit Dealt :	Rs.700.000 Million
Experience :	Good
Remark:	As claimed by Mr. Rajesh Dhanuka (Proprietor) that they are very much satisfied with subject concern.

Customers :

Wholesalers, Retailers and Manufacturer

Reference :	Krishna Plast Tech Private Limited, Orissa, India
Name of the Person :	Mr. Krishna Kumar Agarwal
Contact No.:	91-9437052110
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Declined to part any information.

No. of Employees :

12 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Marol, Andheri (East), Mumbai, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-29254344 (Continuously Ringing)
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 1:
Name :	Rattan Mehta and Company Chartered Accountants
Auditors 2:
Name :	Mhendra K.Jain and Associates Chartered Accountants
Address:	Mumbai, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern:	Heena Engineering Company

CAPITAL STRUCTURE

As on 31.03.2015

Capital Account :	Amount (Rs in Million)
Mr. Danish Mohd Aslam Siddique	Rs.0.758 Million
TOTAL	Rs.0.758 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015 (Unaudited)	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietors Capital		0.758	0.235	0.251
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.758	0.235	0.251
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		5.922	0.000	0.010
TOTAL BORROWING		5.922	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.680	0.235	0.261
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.714	0.208	0.223
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.468	2.412	2.543
	Sundry Debtors	(5.159)	0.834	1.197
	Cash & Bank Balances	0.280	0.992	0.747
	Other Current Assets	0.000	0.000	0.000
	Loans, Advances and Deposits	2.775	0.884	0.892
Total Current Assets		13.364	5.122	5.379
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.082
	Other Current Liabilities
	Provisions	0.316
Total Current Liabilities		13.398	5.095	5.341
Net Current Assets		(0.034)	0.027	0.038
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.680	0.235	0.261

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015 (Unaudited)
	SALES
	Income	11.009
	Other Income	0.000
	TOTAL	0.000
Less	EXPENSES
	Cost of Goods Sold	5.745
	Operating and Administrative and Other Expenses	0.000
	Accounting Charges	0.027
	Advertisement Expenses	0.005
	Bank Charges	0.010
	Business Promotion	0.015
	Clearing and Forwading	0.019
	Conveyance Expenses	0.067
	General Expenses	0.067
	Legal Fees	0.010
	License Fees	0.005
	Octroi Charges	0.005
	Postage and Telegram	0.051
	Printing and Stationery	0.050
	Processing Charges	0.095
	Professional Fees	0.064
	Rebate and Discount	(0.004)
	Rent	0.120
	Repair and Maintenance	0.190
	Salary	0.137
	Stamp Duty Paid	0.024
	Tax Audit Fees	0.034
	Telephone Charges	0.068
	Transport/ Tempo Charges	0.101
	VAT Audit Fees	0.034
	Vehicle Expenses	0.064
	Travelling Expenses	0.023
	Bonus	0.111
	Electricity Charges	0.616
	Leave En Cashment	0.014
	Staff Welfare Expenses	0.091
	Wages	0.631
	Insurance Charges	0.000
	Postage and Courier	0.000
	TOTAL	8.489
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2.520
Less	INTEREST	0.481
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2.039
Less/ Add	DEPRECIATION/ AMORTISATION	1.204
	NET PROFIT FOR THE YEAR	0.835

	PARTICULARS		31.03.2014	31.03.2013
	SALES
	Income
	Other Income
	TOTAL		6.884	7.458
Less	EXPENSES
	Cost of Sales		5.592	6.223
	Operating and Administrative and Other Expenses		0.733	0.800
	TOTAL		6.325	7.023
	NET PROFIT FOR THE YEAR		0.559	0.435

Expected Sales ( 2015 - 2016 ) : Rs.14.000 Million

The above information has been denied by Mr. Danish Mohd Aslam Siddique (Proprietor)

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2015 (Unaudited)	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	7.58	NA	NA
Operating Profit Margin (PBIDT/Sales)	(%)	22.89	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	6.25	10.91	8.09
Return on Investment (ROI) (PBT/Networth)		1.10	2.38	1.73
Debt Equity Ratio (Total Debt /Networth)		7.81	0.00	0.04
Current Ratio (Current Asset/Current Liability)		1.00	1.01	1.01

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015 (Unaudited)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.251	0.235	0.758
Reserves & Surplus	0.000	0.000	0.000
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.251	0.235	0.758
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.010	0.000	5.922
Total borrowings	0.010	0.000	5.922
Debt/Equity ratio	0.040	0.000	7.813

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015 (Unaudited)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	7.458	6.884	11.009
		(7.696)	59.922

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015 (Unaudited)
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	7.458	6.884	11.009
Profit	0.435	0.559	0.835
	5.83%	8.12%	7.58%

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	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	No
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	No
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

SHRI DANISH MOHD ASLAM SIDDIQUI

(ACCOUNTING YEAR 2013-2014)

CAPITAL ACCOUNT
PARTICULARS	AMOUNT (Rs. In Million)	PARTICULARS	AMOUNT (Rs. In Million)
To Drawing	0.120	By Balance b/d	0.670
To L.I.C	0.101	By Bank Interest	0.000
ToICICI Prudential	0.015	By Profit from Proprietary Concern Plast O Tools	0.559
To Medeclaim	0.011	By Dividend	0.002
To Bank charges	0.001	By IT Refund	0.001
To TDS	0.008	By IT Refund Capitalised	0.020
To Demat Charges	0.001
To Income Tax (13-14)	0.015
To Advance Tax	0.035
To Professional Tax	0.008
To Balance c/d	0.937
	0.000
	1.252		1.252

BALANCE SHEET AS ON 31ST MARCH, 2014

LIABILITIES	AMOUNT (Rs. In Million)	ASSETS	AMOUNT (Rs. In Million)
Capital Account:		Business Investment
Mr. Danish Mohd Aslam Siddique	0.937	Plast-O-Tool Engineers	0.235
		Investments:
		Reliance Mutual Fund	0.010
		SBI Mutual Fund	0.002
		Loans and Advances
		Heena Engineering Company	0.394
		IT Refund (14-15)	0.020
		Cash and Bank Balances
		Union Bank of India	0.000
		Cash in Hand	0.276
	0.937		0.937

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.65.22
UK Pound	1	Rs.99.93
Euro	1	Rs.71.66

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
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	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.