MIRA INFORM REPORT

Report No. :	502342
Report Date :	10.04.2018

IDENTIFICATION DETAILS

Name :	TECHNICO INDUSTRIES LIMITED (w.e.f. 09.12.1998)
Formerly Known As :	TECHNICO INDUSTRIES PRIVATE LIMITED
Registered Office :	103, Partap Bhawan, Near Indian Express Building, Bahadur Shah Zafar Marg, New Delhi – 110002
Tel. No.:	91-124-4341100
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	11.01.1985
Com. Reg. No.:	55-019823
Capital Investment / Paid-up Capital :	INR 167.510 Million
CIN No.: [Company Identification No.]	U74210DL1985PLC019823
IEC No.: [Import-Export Code No.]	3095010559
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACT4445P
GSTN : [Goods & Service Tax Registration No.]	06AAACT4445P1ZZ
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacturing and supply of Automotive Components to leading car manufacturers. (Registered Activity and also Confirmed by management)
No. of Employees :	400 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 2400000
Status :	Good
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1985 and it is having good track. For the financial year 2017, the company has increased in its revenue from operations as compared to previous year but maintained low profitability margin of 0.97%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet. Further, rating also derives strength from its extensive experience of promoters in automobile industry, reputed client base and improvement in the revenue as well profitability profile during the year. However, rating strength is partially offset by customer concentration risk, susceptibility to fluctuation in raw material prices and inherent competition as well as cyclicality associated with the automobile industry. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct. In view of the 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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Rating=BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	01.12.2017

Rating Agency Name	CARE
Rating	Short Term Rating=A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	01.12.2017

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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 10.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Jitendra Singh
Designation :	Key Executive
Contact No.:	91-124-2841311
Date :	07.04.2018

LOCATIONS

Registered Office :	103, Partap Bhawan, Near Indian Express Building, Bahadur, Shah Zafar Marg, New Delhi – 110002, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	legal@technicoindustries.com contact@technicoindustries.com info@technicoindustries.com
Website :	www.technicoindustries.com
Corporate Office :	118-120, 1^st Floor, Suncity Success Tower, Main Golf Course Extension Road, Sector-65, Gurugram – 122005, Haryana, India
Tel. No.:	91-124-2841300
Fax No.:	91-124-2841331
Factory 1:	Plot No.19-21, 36-38, Sector-6, Industrial Estate, Bawal, Rewari – 123501, Haryana, India
Tel. No.:	91-124-2841311
Bangalore Office/ Factory 2 :	Plot No.26, 1st Phase, Kombalgodu Industrial Area, Bangalore – 560074, Karnataka, India
Tel. No.:	91-80-32467709
Chennai Office/ Factory 3 :	102, Sumanthiranbedu Village, Irrankattugottai, Kanchipuram, Chennai – 602105, Tamilnadu, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Arun Gupta

Designation :

Managing Director

Address :

B-7/2, DLF Phase – I, Gurugram – 122002, Haryana, India

Date of Birth/Age :

19.11.1951

Qualification :

M.B.A (Finance)

Date of Appointment :

01.04.2007

DIN No.:

00140977

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U28994UP2017PTC091304	AXIS PLATING PRIVATE LIMITED	14/03/2017	-
U74120HR2007PLC037192	RASA AUTOCOM LIMITED	28/09/2015	-
U34200HR2007PLC037021	RICO JINFEI WHEELS LIMITED	28/09/2015	-
U65923HR2015PLC054211	RICO INVESTMENTS LIMITED	22/09/2016	-
U35122HR2014PTC056763	SHIROKI TECHNICO INDIA PRIVATE LIMITED	15/05/2014	-
U35990HR2011PTC058205	AGRG TECHNOLOGIES PRIVATE LIMITED	19/07/2011	-
U35900HR2011PTC058540	TECHNICO AUTOSYSTEMS PRIVATE LIMITED	19/07/2011	-
U34300HR2008PLC037956	RICO ALUMINIUM AND FERROUS AUTO COMPONENTS LIMITED	28/09/2015	-
U34300HR2006PLC058206	ARG AUTOSYSTEMS LIMITED	01/02/2006	-
U34300HR2005PTC035682	ARG AUTO COMPONENTS PRIVATE LIMITED	23/12/2011	-
U72300DL1985PTC327363	ARG UDYOG PRIVATE LIMITED	31/03/1991	-

Name :

Mr. Amit Gupta

Designation :

Whole Time Director

Address :

B-7/2, DLF Phase – I, Gurugram - 122002, Haryana, India

Date of Birth/Age :

10.12.1977

Qualification :

B.E. (Mechanical Engineering)

Date of Appointment :

01.09.2017

DIN No.:

00155629

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72300DL1985PTC327363	ARG UDYOG PRIVATE LIMITED	31/07/2008	-
U34300HR2005PTC035682	ARG AUTO COMPONENTS PRIVATE LIMITED	20/08/2009	-
U34300HR2006PLC058206	ARG AUTOSYSTEMS LIMITED	30/09/2008	-
U51909MH2010PTC201299	PRYSTINE FOOD & BEVERAGES PRIVATE LIMITED	27/10/2017	-
U35900HR2011PTC058540	TECHNICO AUTOSYSTEMS PRIVATE LIMITED	19/07/2011	-
U35990HR2011PTC058205	AGRG TECHNOLOGIES PRIVATE LIMITED	19/07/2011	-
U35122HR2014PTC056763	SHIROKI TECHNICO INDIA PRIVATE LIMITED	15/05/2014	-
U28994UP2017PTC091304	AXIS PLATING PRIVATE LIMITED	14/03/2017	-

Name :

Mr. Naresh Kumar Sethi

Designation :

Director

Address :

B-9/11, DLF City, Phase – I, Gurugram - 122002, Haryana, India

Date of Birth/Age :

28.10.1947

Date of Appointment :

31.03.2008

DIN No.:

00202498

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29110HR2008PTC037708	MAGNA RICO POWERTRAIN PRIVATE LIMITED	29/09/2011	-
U34300HR2008PLC037956	RICO ALUMINIUM AND FERROUS AUTO COMPONENTS LIMITED	24/09/2011	-
U35990HR2009PLC039865	KAPBROS ENGINEERING INDUSTRIES LIMITED	30/09/2010	-
U28112HR2010PLC039941	AAN ENGINEERING INDUSTRIES LIMITED	09/07/2011	-
U65923HR2015PLC054211	RICO INVESTMENTS LIMITED	07/01/2015	-
U34200HR2007PLC037021	RICO JINFEI WHEELS LIMITED	16/07/2007	-

Name :

Mr. Deepak Mohla

Designation :

Director

Address :

E-12, Saket, New Delhi - 110 017, India

Date of Birth/Age :

07.10.1950

Date of Appointment :

29.09.2008

DIN No.:

00231989

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L55200MH1967PLC013837	FOODS AND INNS LIMITED	10/05/2017	-
U74140DL1999PTC101714	INSPIRE ONE CONSULTANTS PRIVATE LIMITED	31/03/2011	-
U93010DL2002PTC117667	LIQVID ELEARNING SERVICES PRIVATE LIMITED	20/04/2006	-
U74140DL2006PTC145629	INSPIREONE TECHNOLOGIES PRIVATE LIMITED	31/01/2006	-

Name :

Mr. Deepak Sood

Designation :

Director

Address :

3, Argyle House The Mall Shimla - 171001, Himachal Pradesh, India

Date of Appointment :

29.09.2008

DIN No.:

00399569

Name :

Mr. Ashok Kumar Goyal

Designation :

Director

Address :

C-19, Sector - 33 Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India

Date of Appointment :

29.09.2009

DIN No.:

00593505

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51109DL2007PTC157340	SUNDRAM TECHNOLOGIES PRIVATE LIMITED	28/05/2008	-
U74110DL2006PTC146659	GAL KNOWLEDGE ENABLED SERVICES PRIVATE LIMITED	21/02/2006	-
U51909DL1998PTC094702	I-NET PRIVATE LIMITED	08/09/2012	-
U21012DL1988PLC032724	GLOBAL ADVISORS LIMITED	07/01/1991	-

KEY EXECUTIVES

Name :	Mr. Sanjeev Sharma
Designation :	Company Secretary
Address :	118 Sector-16, Faridabad-121001, Haryana, India
Date of Appointment :	08.09.2014
PAN No.:	AXGPS1429L
Name :	Mr. Rahul Gupta
Designation :	Chief Financial Officer
Address :	801, First Floor, Sector-46, Wazirabad (75), Gurugram – 122003, Haryana, India
Date of Appointment :	26.09.2017
PAN No.:	ATCPG0050B
Name :	Shinichi Takeuchi
Designation :	Chef Executive Officer
Address :	Room No. 223, Jukaso It Suites 1, IDC Mehrauli Road, Gurugram – 122001, Haryana, India
Date of Appointment :	22.01.2018
PAN No.:	ACQPT9729F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Arun Gupta	3297905
Arun Gupta HUF	200750
Amit Gupta	1719028
Rekha Gupta	1439960
Navita Gupta	1439957
ARG Udyog Private Limited, India	5070475
Aditi Garg	275
Achin Garg	275
Shiroki Corporation, Japan	175850
ARG Auto Components Private Limited, India	2205100
ARG Autosystems Limited, India	1201250
Gurprakash Miglani	100
Surinder Mahendru	100
Total	16751025

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	29.95
Public/Other than promoters (Individual/Hindu Undivided Family-Indian)	18.40
Public/Other than promoters (Body corporate)	51.65
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing and supply of Automotive Components to leading car manufacturers. (Registered Activity and also Confirmed by management)

Products/ Services :

Item Code No.	Product/ Services Description
87089900	Window Regulator
87089900	Door Hinges
87089900	Seat Components
87089900	Stamping Parts

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Products :

Raw Material

Countries :

• Japan
• United States of America
• China, etc.

Terms :

Selling :

Others (NEFT/ RTGS)

Purchasing :

Others (NEFT/ RTGS)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

End Uses and Manufacturers

Reference :	Maruti Suzuki India Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

• Toyota
• Nissan

No. of Employees :

400 (Approximately)

Bankers :

Bank Name	HDFC Bank Limited
Branch	Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

• Indian Bank, New Delhi Main Branch, G-41, Connaught Circus, New Delhi – 110001, India

• Yes Bank Limited, 9th Floor, Discovery of India, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	188.293	240.975
Foreign currency term loans from banks	94.063	0.000
Loans taken for fixed assets	10.206	11.301
Short-term borrowings
Working capital loans from banks	209.595	203.810
Total	502.157	456.086

Auditors :
Name :	Walker Chandiok and Company Chartered Accountants
Address :	7^th Floor, Plot No. 19A, Sector 16A, Noida – 201301, Uttar Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAAFW4298E
Memberships :	Not Available
Collaborators :	Not Available
Associates :	ARG Udyog Private Limited (CIN No.: U72300HR1985PTC057776) ARG Auto Components Private Limited ARG Autosystems Limited
Joint Venture :	Shiroki Technico India Private Limited (CIN No.: U35122HR2014PTC056763)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Arun Gupta HUF Amit Gupta HUF

CAPITAL STRUCTURE

As on 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	INR 10/- each	INR 250.0000 Million
15000000	Preference Shares	INR 10/- each	INR 150.000 Million
	Total		INR 400.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16751025	Equity Shares	INR 10/- each	INR 167.510 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	167.510	167.510	167.510
(b) Reserves and Surplus	672.377	647.427	623.283
(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)	839.887	814.937	790.793
(3) Non-Current Liabilities
(a) long-term borrowings	722.325	559.976	586.476
(b) Deferred tax liabilities (Net)	154.505	142.174	186.260
(c) Other long-term liabilities	53.377	43.939	62.319
(d) long-term provisions	7.623	4.000	5.136
Total Non-current Liabilities (3)	937.830	750.089	840.191
(4) Current Liabilities
(a) Short-term borrowings	209.595	203.810	188.049
(b) Trade payables	398.290	499.545	524.481
(c) Other current liabilities	249.226	330.974	317.787
(d) Short-term provisions	10.186	10.358	41.837
Total Current Liabilities (4)	867.297	1044.687	1072.154
TOTAL	2645.014	2609.713	2703.138
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1439.687	1172.574	1152.357
(ii) Intangible Assets	25.008	6.903	4.921
(iii) Tangible assets capital work-in-progress	82.759	100.142	9.740
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	170.693	170.693	170.693
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	60.499	87.809	76.918
(e) Other Non-current assets	0.892	0.087	7.386
Total Non-Current Assets	1779.538	1538.208	1422.015
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	425.376	372.547	384.726
(c) Trade receivables	316.803	281.168	344.468
(d) Cash and bank balances	34.638	112.323	112.080
(e) Short-term loans and advances	38.603	297.075	433.408
(f) Other current assets	50.056	8.392	6.441
Total Current Assets	865.476	1071.505	1281.123
TOTAL	2645.014	2609.713	2703.138

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	2579.362	2416.016	2948.878
	Other Income	29.827	33.646	68.205
	TOTAL	2609.189	2449.662	3017.083
Less	EXPENSES
	Cost of Materials Consumed	1610.077	1493.721	1856.003
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(56.999)	(13.277)	52.994
	Employee benefit expense	356.007	310.551	331.614
	CSR expenditure	1.487	1.723	0.230
	Other expenses	418.203	398.069	428.610
	Exceptional items before tax	0.000	0.000	(193.774)
	TOTAL	2328.775	2190.787	2475.677
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	280.414	258.875	541.406
Less	FINANCIAL EXPENSES	117.849	116.666	179.073
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	162.565	142.209	362.333
Less/ Add	DEPRECIATION/ AMORTISATION	122.616	116.114	161.972
	PROFIT/ (LOSS) BEFORE TAX	39.949	26.095	200.361
Less	TAX	15.001	1.952	35.403
	PROFIT/ (LOSS) AFTER TAX	24.948	24.143	164.958
	Earnings / (Loss) Per Share (INR)	1.49	1.44	9.85

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	142.293	123.546	91.726
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	145.346	209.644	119.789
Net cash flow from operating activity	253.022	309.491	277.636

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	44.83	42.48	42.64
Account Receivables Turnover ( Income / Sundry Debtors)	8.14	8.59	8.56
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	90.29	122.07	103.14
Inventory Turnover (Operating Income / Inventories)	0.66	0.69	1.41
Asset Turnover (Operating Income / Net Fixed Assets)	0.18	0.20	0.46

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.65	0.66	0.65
Debt Equity Ratio (Total Liability / Networth)	1.28	1.09	1.10
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.03	1.28	1.36
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.84	1.57	1.48
Interest Coverage Ratio (PBIT / Financial Charges)	2.38	2.22	3.02

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	0.97	1.00	5.59
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.94	0.93	6.10
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.97	2.96	20.86

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.00	1.03	1.19
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.51	0.67	0.84
G-Score Ratio Financial (Networth / Total Assets)	0.32	0.31	0.29
G-Score Ratio Debt (Debts / Equity Capital)	6.41	5.30	5.17
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.00	1.03	1.19

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	167.510	167.510	167.510
Reserves & Surplus	623.283	647.427	672.377
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	790.793	814.937	839.887
Long-term borrowings	586.476	559.976	722.325
Short term borrowings	188.049	203.810	209.595
Current maturities of long-term debts	91.726	123.546	142.293
Total borrowings	866.251	887.332	1074.213
Debt/Equity ratio	1.095	1.089	1.279

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	2948.878	2416.016	2579.362
		(18.070)	6.761

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	2948.878	2416.016	2579.362
Profit/ (Loss)	164.958	24.143	24.948
	5.59 %	1.00 %	0.97 %

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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	Yes
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

BACKGROUND AND NATURE OF OPERATIONS

Technico Industries Limited incorporated in January, 1985, under the Companies Act 2013, is engaged in the business of manufacturing and supply of Automotive Components to leading car manufacturers. The Company has three manufacturing facilities, at Bawal District Rewari (Haryana), Bangaluru (Karnataka) and Chennai (Tamilnadu).

BUSINESS OVERVIEW

With the main customer being, Maruti Suzuki India Limited, the Company continues to maintain its growth at a constant rate. Other customers of the Company like Toyota, Nissan etc. have increased their sales/business share marginally as compared to previous year. To cater the requirements of the customers, the Company is utilizing its available resources to achieve a satisfactory growth rate. With the increase in growth rate of customers, the Company is expecting to maintain its profits.

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Loans and advances from directors	16.087	18.453
Loans and advances from others	132.078	128.650
Other loans and advances	281.598	160.597
Total	429.763	307.700

INDEX OF CHARGES

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Amount	Address
1	G76007285	100152325	HDFC BANK LIMITED	27/01/2018	827715.0	Senapati Bapat MargLower Parel West MumbaiMH400013IN
2	G76006584	100152364	HDFC BANK LIMITED	09/01/2018	1495600.0	HDFC Bank HouseSenapati Bapat Marg, Lower Parel West,MumbaiMH400013IN
3	G76006535	100152323	HDFC BANK LIMITED	09/01/2018	1995900.0	HDFC Bank HouseSenapati Bapat Marg, Lower Parel West,MumbaiMH400013IN
4	G72463375	100143853	HDFC BANK LIMITED	07/11/2017	1707805.0	HDFC Bank HouseSenapati Bapat Marg, Lower Parel West,MumbaiMH400013IN
5	G60258472	100131469	HDFC BANK LIMITED	30/08/2017	397810.0	HDFC Bank HouseSenapati Bapat Marg, Lower Parel West,MumbaiMH400013IN
6	G45963394	100103467	Indian Bank	18/05/2017	187500000.0	New Delhi Main BranchG-41,Connaught CircusNew DelhiDL110001IN
7	G45964046	100103468	Indian Bank	18/05/2017	200000000.0	New Delhi Main BranchG-41,Connaught CircusNew DelhiDL110001IN
8	G42034199	100092652	HDFC BANK LIMITED	07/04/2017	10490000.0	HDFC Bank HouseSenapati Bapat Marg, Lower Parel West,MumbaiMH400013IN
9	G42528836	100093991	YES BANK LIMITED	29/03/2017	5000000.0	9th Floor, Discovery of India,Nehru Centre, Dr. Annie Besant Road Worli,MumbaiMH400018IN
10	G39767165	100087054	HDFC BANK LIMITED	28/12/2016	1768800.0	HDFC Bank HouseSenapati Bapat Marg, Lower Parel WestMumbaiMH400013IN

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

Intangible Assets

· Computer Software

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 records 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	INR
US Dollar	1	INR 64.92
UK Pound	1	INR 91.49
Euro	1	INR 79.68

INFORMATION DETAILS

Information Gathered by :	ARC
Analysis Done by :	PSD
Report Prepared by :	SUD

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.