MIRA INFORM REPORT

Report No. :	502991.2
Report Date :	17.04.2018

IDENTIFICATION DETAILS

Name :	CEID CONSULTANTS AND ENGINEERING PRIVATE LIMITED
Registered Office :	2nd Floor, Markfed Building, Opposite Punjab National Bank Main Branch, Vir Haqiqat Rai Chownk, Abohar, Fazilka -152116, Punjab
Tel. No.:	91-1634-500005/6
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	06.12.2012
Com. Reg. No.:	16-036910
Capital Investment / Paid-up Capital :	INR 5.000 Million
CIN No.: [Company Identification No.]	U74140PB2012PTC036910
IEC No.: [Import-Export Code No.]	3014004804
PAN No.: [Permanent Account No.]	AAFCC0780M
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	03AAFCC0780M1ZP
Legal Form :	Private Limited Liability Company
Line of Business :	· Trading of Machinery and Consultancy Services (Registered Activity) · Manufacturing of Biogas Machinery (Manufacturing done through jobwork basis) and also provides Installation and Maintenance Services · Providing Service for Trunkey Projects (Confirmed by management)
No. of Employees :	Approximately 70 (In Office: 20, Sub Contactors basis : 50)

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 2012. It is a manufacturer of Biogas Machinery and also engaged in providing Turnkey Projects. For the financial year 2017, the company has reported dip in its revenue by 42.77% as compared to the previous year but has managed to maintain a low profit margin of 0.97%. The moderate financial profile of the company is marked by low reserve base as compared to its capital and unfavourable gap between trade payables and trade receivables. However, rating weakness is partially offset by equity infused by its promoters and strong debt coverage indicators due to debt free balance sheet profile. Payment seems to be slow. In view of aforesaid, the company 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

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	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 31-03-2018.

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 17.04.2018

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. Prince Gandhi
Designation :	Chief Operating Officer
Contact No.:	91-9803339824
Date :	09.04.2018

LOCATIONS

Registered Office :	2nd Floor, Markfed Building, Opposite Punjab National Bank Main Branch, Vir Haqiqat Rai Chownk, Abohar, Fazilka -152116, Punjab, India
Tel. No.:	91-1634-500005/6
Mobile No.:	91-9803339824 (Mr. Prince Gandhi)
Fax No.:	91-1634-500006
E-Mail :	ceidconsultantsandengineering@gmail.com ceidbiogas@gmail.com info@ceidconsultants.com
Website :	http://www.ceidconsultants.com
Location :	Owned
Locality :	Commercial

DIRECTORS

As on 2018

Name :	Mr. Madan Lal Gandhi
Designation :	Director
Address :	BIX 72, Patel Nagar Abohar, District Ferozpur-152116, Punjab, India
Date of Birth/Age :	15.08.1935
Date of Appointment :	06.12.2012
DIN No.:	06400734
Name :	Ms. Sanjna Gandhi
Designation :	Director
Address :	BIX, 72, Patel Nagar Abohar, District Ferozepur-151116, Punjab, India
Date of Birth/Age :	14.07.1978
Date of Appointment :	06.12.2012
DIN No.:	06400744

KEY EXECUTIVES

Name :	Mr. Prince Gandhi
Designation :	Chief Operating Officer

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders	% of Holding
Madan Lal Gandhi	50.00
Sanjna Gandhi	50.00
Total	100.00

As on 31.03.2016

Names of Shareholders	No. of Shares
Madan Lal Gandhi	5000
Sanjna Gandhi	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2016

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

· Trading of Machinery and Consultancy Services (Registered Activity)

· Manufacturing of Biogas Machinery (Manufacturing done through jobwork basis) and also provides Installation and Maintenance Services

· Providing Service for Trunkey Projects (Confirmed by management)

Products / Services :

Item Code No.	Products/Services Description
99715910	Consultancy Services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Biogas Machinery

Countries :

· South African Countries

· Nepal

Imports :

Products :

Machinery Parts

Countries :

China

Terms :

Selling :

Advance Payment

Purchasing :

Advance Payment

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers (As on 31.03.2016):

• ACC Limited
• Bhatinda Ceramics Private Limited, Bhatinda
• Global Builtech
• JPS Agrotechs and Farms
• Nature Organic Product
• Panchkula Farms Private Limited

Customers (As on 31.03.2016):

Manufacturer

• Jay Ambay Engineering Co.
• Krishna Devi Globegas
• Panchkula Farms Private Limited
• N.P. Corporation
• Deol Structural Engineering and Construction, Bhatinda

No. of Employees :

Approximately 70 (In Office: 20, Sub Contactors basis : 50)

Bankers :

Banker Name :	Bank of India
Branch :	Gaushala Road, Abohar, Firozpur, Punjab, India
Person Name (With Designation) :	--
Contact Number :	1800220229 (Toll Free)
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Banker Name :	State Bank of India
Branch :	Bus Stand Road, Abohar, Firozpur-152116, Punjab, India
Person Name (With Designation) :	--
Contact Number :	91-1634-220557 (Continuously Ringing)
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Punjab National Bank

Auditors :
Name :	Dinesh Pujara and Associates Chartered Accountants
Address :	Abohar, Punjab, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries (As Confirmed by management) :	Center for Entrepreneurship and Industries Development (CEID)

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	INR 10/- each	INR 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	INR 10/- each	INR 5.000 Million

FINANCIAL DATA

[all figures are 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	5.000	0.100	0.100
(b) Reserves & Surplus	0.770	0.520	0.303
(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)	5.770	0.620	0.403
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.001
(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)	0.000	0.000	0.001
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	17.783	15.136	43.572
(d) Short-term provisions	0.113	0.096	0.092
Total Current Liabilities (4)	17.896	15.232	43.664
TOTAL	23.666	15.852	44.068
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.174	0.169	0.076
(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)	0.001	0.000	0.000
(d) Long-term Loan and Advances	3.268	4.836	3.955
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3.443	5.005	4.031
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.639	0.000	24.846
(c) Trade receivables	1.744	9.804	7.585
(d) Cash and cash equivalents	14.724	0.377	6.665
(e) Short-term loans and advances	1.101	0.651	0.926
(f) Other current assets	0.015	0.015	0.015
Total Current Assets	20.223	10.847	40.037
TOTAL	23.666	15.852	44.068

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	25.701	44.910	10.099
	Other Income	0.020	0.018	0.000
	TOTAL	25.721	44.928	10.099
		(Due to Market Fluctuation)
Less	EXPENSES
	Purchases of Stock-in-Trade	21.994	16.470	23.029
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.639)	24.846	(24.057)
	Employees benefits expense	2.750	0.718	1.703
	Other expenses	3.215	2.551	9.113
	TOTAL	25.320	44.585	9.788
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.401	0.343	0.311
Less	FINANCIAL EXPENSES	0.000	0.003	0.001
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.401	0.340	0.310
Less/ Add	DEPRECIATION/ AMORTISATION	0.039	0.027	0.010
	PROFIT/ (LOSS) BEFORE TAX	0.362	0.313	0.300
Less	TAX	0.112	0.097	0.092
	PROFIT/ (LOSS) AFTER TAX	0.250	0.216	0.208
	Earnings / (Loss) Per Share (INR)	0.50	21.60	20.80

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
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

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	24.77	79.68	274.14
Account Receivables Turnover (Income / Sundry Debtors)	14.74	4.58	1.33
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.15	0.00	0.01
Asset Turnover (Operating Income / Net Fixed Assets)	2.30	2.03	4.09

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.76	0.96	0.99
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.10	24.57	108.35
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.03	0.27	0.19
Interest Coverage Ratio (PBIT / Financial Charges)	0.00	114.33	311.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.97	0.48	2.06
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.06	1.36	0.47
Return on Investment (ROI) ((PAT / Networth) * 100)	%	4.33	34.84	51.61

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.13	0.71	0.92
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.98	0.71	0.35
G-Score Ratio Financial (Networth / Total Assets)	0.24	0.04	0.01
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.13	0.71	0.92

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	0.100	0.100	5.000
Reserves & Surplus	0.303	0.520	0.770
Net worth	0.403	0.620	5.770
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	10.099	44.910	25.701
		344.697	(42.772)

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	10.099	44.910	25.701
Profit	0.208	0.216	0.250
	2.06%	0.48%	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	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%	Yes
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 EXISTS FOR COMPANY

FIXED ASSETS

• Furniture
• Air Conditioner
• Cycle
• Mobile

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	INR
US Dollar	1	INR 65.45
UK Pound	1	INR 93.28
Euro	1	INR 80.74

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	VAR
Report Prepared by :	JYTK

SCORE FACTORS

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

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.

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