MIRA INFORM REPORT

Report No. :	341797
Report Date :	19.09.2015

IDENTIFICATION DETAILS

Name :	UGI ENGINEERING WORKS PRIVATE LIMITED
Registered Office :	23/ F, 23/J, 23/K, K. B. Sarani, (Mall Road), Kolkata – 700080, West Bengal
Tel. No.:	91-33-25591304
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.06.2009
Com. Reg. No.:	21-136310
Capital Investment / Paid-up Capital :	Rs.2.658 Million
CIN No.: [Company Identification No.]	U29253WB2009PTC136310
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALUO3468D
PAN No.: [Permanent Account No.]	AABCU0908P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter, Importer and Supplier of Roller and Slitter guide boxes, Industrial pinch roll, Pinion gear box, Section rolling mill, Gears and pinion shafts, Tail breaker etc.
No. of Employees :	75 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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 2009 and it is a manufacturer, exporter, importer and supplier of roller and slitter guide boxes, industrial pinch roll etc. For the financial year ended 2014, sales turnover of the company has drastically declined which has resulted into drastic dip in profit of the company during a year under a review. However, rating takes into consideration company's satisfactory financial risk profile supported by sound net worth base along with zero debt balance sheet profile and moderate liquidity position of the company. Trade relations are reported as fair. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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 (GENERAL DETAILS)

Name :	Mr. Abhishek
Designation :	Accounts Manager
Contact No.:	91-33-25512263
Date :	19.09.2015

LOCATIONS

Registered Office / Factory :	23/ F, 23/J, 23/K, K. B. Sarani, (Mall Road), Kolkata – 700080, West Bengal, India
Tel. No.:	91-33-25591304 / 25512263
Mobile No.:	91-9830046487 (Mr. Vishal Kapoor)
Fax No.:	91-33-25595924
E-Mail :	vkapoor@vsnl.com admin@universalgears.com
Website:	www.universalgears.com
Area :	3500 Sq. Ft.
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Vishal Pravesh Kapoor

Designation :

Director

Address :

CB-112, Salt Lake City, Sector – 1, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

24.12.1973

Date of Appointment :

26.06.2009

PAN No.:

AFTPK2651M

DIN No.:

02307702

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	U29299WB2005PTC104626	YASH ROLLING EQUIPMENTS PRIVATE LIMITED	Director	8/8/2005	8/8/2005	-	Active	NO
2	U29253WB2009PTC136310	UGI ENGINEERING WORKS PRIVATE LIMITED	Director	26/06/2009	26/06/2009	-	Active	NO
3	U51909WB2009PTC136449	MERLIN NIRYAT PRIVATE LIMITED	Director	10/6/2013	10/6/2013	-	Active	NO
4	U51909WB2009PTC137410	VASTAV VINIMAY PRIVATE LIMITED	Additional director	1/1/2015	1/1/2015	-	Active	NO

Name :

Mr. Pravesh Chandra Kapoor

Designation :

Director

Address :

CB-112, Salt Lake City, Sector – 1, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

04.01.1942

Date of Appointment :

26.06.2009

PAN No.:

AFTPK7880A

DIN No.:

02565100

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	U29253WB2009PTC136310	UGI ENGINEERING WORKS PRIVATE LIMITED	Director	26/06/2009	26/06/2009	-	Active	NO
2	U51909WB2009PTC136449	MERLIN NIRYAT PRIVATE LIMITED	Director	10/6/2013	10/6/2013	-	Active	NO
3	U51909WB2009PTC137410	VASTAV VINIMAY PRIVATE LIMITED	Additional director	1/1/2015	1/1/2015	-	Active	NO

s

KEY EXECUTIVES

Name :	Mr. Abhishek
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Vishal Pravesh Kapoor	5000	1.88
Pravesh Chandra Kapoor	260768	98.12
Total	265768	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Importer and Supplier of Roller and Slitter guide boxes, Industrial pinch roll, Pinion gear box, Section rolling mill, Gears and pinion shafts, Tail breaker etc.
Products :	Pinion Stands Hot Rolling Mills Gear Boxes: Spur Gear Box, Helical Gear Box, Double Helical Gear Box, Worm Gear Box, Heli-Worm Gear Box, etc. Gear Box Cum Pinion Stands Worm Gears Worm Shafts Coilers Rotary Shears Pinch Rolls Universal Cross Joints Gear Couplings Flywheels Mill Stands Roller Bearing Mill Stands, etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Bangladesh Dubai Sri Lanka Nepal South Arabia Kenya
Imports :
Products :	Raw Material
Countries :	Turkey Romania Germany China
Terms :
Selling :	Cash and Credit (30,60,90 Days)
Purchasing :	Cash and Credit (30,60,90 Days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Bharat Roll Industry Private Limited

Reference :	Surbhi International
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 :

Magnum Steel Industries Limited, Bangladesh

Reference :	P S Rolls Private Limited, China
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 :

75 (Approximately)

Bankers :

Kotak Mahindra Bank Limited, Kolkata, West Bengal, India

Banker Name	State Bank of India
Branch Address	Dum Dum Branch, Kolkata-700 064, West Bengal, India
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 :	S.Jaykishan Chartered Accountants
Address :	12, Ho-Chi-Minh Sarani, Suite No. 2D, 2E & 2F, 2^nd Floor, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-40035801
Fax No.:	91-33-4035832
E-Mail :	infor@jsaykishan.com
PAN N Income-tax PAN of auditor or auditor's firm :	AASFS4445F
Memberships :	Not Available
Collaborators :	Not Available
Enterprises owned or significantly influenced by the key managerial personnel or their relatives :	Yash Rolling Equipment’s Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

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
265768	Equity Shares	Rs.10/- each	Rs.2.658 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	2.658	2.658	2.658
(b) Reserves & Surplus	77.113	67.269	40.938
(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)	79.771	69.927	43.596
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	2.579	2.665	2.576
(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)	2.579	2.665	2.576
(4) Current Liabilities
(a) Short term borrowings	0.000	5.000	0.000
(b) Trade payables	141.697	234.610	146.527
(c) Other current liabilities	110.435	67.466	109.517
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	252.132	307.076	256.044
TOTAL	334.482	379.668	302.216
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	57.209	64.420	63.324
(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	0.000
(d) Long-term Loan and Advances	0.659	0.289	0.300
(e) Other Non-current assets	0.000	0.592	1.941
Total Non-Current Assets	57.868	65.301	65.565
(2) Current assets
(a) Current investments	124.582	118.369	56.592
(b) Inventories	26.599	35.066	9.668
(c) Trade receivables	46.026	82.885	88.969
(d) Cash and cash equivalents	40.479	35.236	49.339
(e) Short-term loans and advances	38.599	42.581	31.826
(f) Other current assets	0.329	0.230	0.257
Total Current Assets	276.614	314.367	236.651
TOTAL	334.482	379.668	302.216

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	180.103	401.946	394.773
	Other Income	8.171	6.405	4.700
	TOTAL	188.274	408.351	399.473
Less	EXPENSES
	Raw Materials Consumed			275.858
	(Increase) / Decrease in Inventories	176.218	369.386	0.554
	Exceptional Items			12.752
	Employees benefits expense			10.742
	Other expenses			60.621
	TOTAL	176.218 (Including financial expenses and Depreciation)	369.386 (Including financial expenses and Depreciation)	360.527
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			38.946
Less	FINANCIAL EXPENSES			0.878
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			38.068
Less/ Add	DEPRECIATION/ AMORTISATION			9.113
	PROFIT/ (LOSS) BEFORE TAX	12.056	38.965	28.955
Less	TAX	2.212	12.634	9.506
	PROFIT/ (LOSS) AFTER TAX	9.844	26.331	19.449
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	67.269	40.938	21.489
	Balance Carried to the B/S	77.113	67.269	40.938
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	59.322	91.074	104.305
	TOTAL EARNINGS	59.322	91.074	104.305
	IMPORTS
	C.I.F. Value of Imports	0.000	0.000	4.231
	TOTAL IMPORTS	0.000	0.000	4.231
	Earnings / (Loss) Per Share (Rs.)	37.04	99.08	73.18

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)	(%)	5.47	6.55	4.93
Operating Profit Margin (PBIDT/Sales)	(%)	NA	NA	9.87
Return on Total Assets (PBT/Total Assets}	(%)	3.60	10.26	9.58
Return on Investment (ROI) (PBT/Networth)		0.15	0.56	0.66
Debt Equity Ratio (Total Debt /Networth)		0.00	0.07	0.00
Current Ratio (Current Asset/Current Liability)		1.10	1.02	0.92

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	2.658	2.658	2.658
Reserves & Surplus	40.938	67.269	77.113
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	43.596	69.927	79.771
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	5.000	0.000
Total borrowings	0.000	5.000	0.000
Debt/Equity ratio	0.000	0.072	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	394.773	401.946	180.103
		1.817	(55.192)

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	394.773	401.946	180.103
Profit	19.449	26.331	9.844
	4.93%	6.55%	5.47%

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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Rupee loans From others	0.000	5.000
Total	0.000	5.000

FIXED ASSETS

· Factory Land

· Factory Shed

· Land and Building

· Electrical Installations

· Plant and Machinery

· Engineering Drawings

· Tools and Equipments

· Electric Generator

· Projector

· Office Equipments

· Furniture and Fixtures

· Motor Car

· Computer

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.66.71
UK Pound	1	Rs.105.10
Euro	1	Rs.77.11

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KAR
Report Prepared by :	KVT

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	4
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.