MIRA INFORM REPORT

Report No. :	493776
Report Date :	23.02.2018

IDENTIFICATION DETAILS

Name :	ENERGY-MISSION MACHINERIES (INDIA) PRIVATE LIMITED
Registered Office :	87/1, Opposite Pushpak Industrial Estate, Phase-I, GIDC, Vatva, Ahmedabad -382445, Gujarat
Tel. No.:	91-79-65436237
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	17.01.2011
Com. Reg. No.:	04-063696
Capital Investment / Paid-up Capital :	INR 17.500 Million
CIN No.: [Company Identification No.]	U29100GJ2011PTC063696
IEC No.: [Import-Export Code No.]	0811002021
GSTN : [Goods & Service Tax Registration No.]	24AACCE6042K1ZR
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCE6042K
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the business of manufacturing of hydraulic shearing machine, NC Hydraulic shearing machine, Hydraulic press-break, NC Hydraulic press-break, CNC Syncro Hydraulic press-break, iron water ‘Sigma’ deep drawing press, general purpose Hydraulic presses and special purpose machines. (Registered activity and also confirmed by management)
No. of Employees :	220 (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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2011 having satisfactory track record. It is engaged as manufacturer of hydraulic machineries. For the financial year 2017, the company has achieved decent growth of 75.74% in its revenue as compared to its previous year along with fair profit margin of 3.09% during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt coverage indicators due to low debt level balance sheet profile. Rating continue to derive strength from its established track record of its business operations backed by its well-experienced management team. However, these rating strengths gets partially offset by its fairly large working capital intensive nature of operations in highly competitive and fragmented industry. Payments seems to be usually correct. In view of 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	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 31-03-2016.

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 23.02.2018

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

Name :	Ms. Snehal
Designation :	Director
Contact No.:	91-9824481470
Date :	22.02.2018

LOCATIONS

Registered Office :	87/1, Opposite Pushpak Industrial Estate, Phase-I, GIDC, Vatva, Ahmedabad -382445, Gujarat, India
Tel. No.:	91-79-65436237
Mobile No.:	91-9824481470 (Ms. Snehal)
Fax No.:	91-79-40085558
E-Mail :	info@energymission.com
Website :	http://www.energymission.com
Location :	Owned
Locality :	Industrial
Factory:	Plot No. 5210, Opposite Ramol Ploice Chokey, Phase 4 GIDC, Vatva, Ahmedabad – 382445, Gujarat, India

DIRECTORS

AS ON 31.03.2017

Name :	Mr. Satishkumar Kanjibhai Parmar
Designation :	Director
Address :	A-18, Vasudev Bungalows, Near Express Highway, Vatva, Ahmedabad – 382445, Gujarat, India
Date of Birth/Age :	17.01.2011
Date of Appointment :	03297705
Name :	Mr. Dineshkumar Shankarlal Chaudhary
Designation :	Director
Address :	I-C, Shikhar Apartment, Near Jiviba School, Near Bhagirathi Bunglows, Ghodasar, Ahmedabad – 382451, Gujarat, India
Date of Birth/Age :	17.01.2011
Date of Appointment :	03297711
Name :	Mrs. Snehal Narendra Mehta
Designation :	Director
Address :	8-25, Hari om Nagar Society, Near Jiviba School, Ghodasar, Ahmedabad – 380050, Gujarat, India
Date of Birth/Age :	30.09.2011
Date of Appointment :	03498810
Name :	Mr. Sanjay Shantukumar Khankar
Designation :	Director
Address :	I, Cannan Society, Near Lalbhai Centre, Maninagar East, Amraiwadi, Ahmedabad –380008, Gujarat, India
Date of Birth/Age :	30.09.2011
Date of Appointment :	03498818
Name :	Mr. Ashokumar Ramjibhai Panchal
Designation :	Director
Address :	Krutath Society, Bambay Conductor, Vatva, Ahmedabad – 382445, Gujarat, India
Date of Birth/Age :	30.09.2011
Date of Appointment :	03498821

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares	% of Holding
Satishkumar Kanjibhai Parmar	3505	20.03
Dineshkumar Shankarlal Chaudhary	3495	19.97
Snehal Narendra Mehta	3500	20.00
Sanjay Shantukumar Khankar	3500	20.00
Ashokmar Ramjibhai Panchal	3500	20.00
Total	17500	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the business of manufacturing of hydraulic shearing machine, NC Hydraulic shearing machine, Hydraulic press-break, NC Hydraulic press-break, CNC Syncro Hydraulic press-break, iron water ‘Sigma’ deep drawing press, general purpose Hydraulic presses and special purpose machines. (Registered activity and also confirmed by management)

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacturing of hydraulic shearing machine, NC Hydraulic shearing machine, Hydraulic press-break, NC Hydraulic press-break, CNC Syncro Hydraulic press-break, iron water ‘Sigma’ deep drawing press, general purpose Hydraulic presses and special purpose machines.	2813

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

Gulf Country

Imports :

Products :

Raw Material

Countries :

• European Country
• China

Terms :

Selling :

Cheque

Purchasing :

Cheque

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 :

Retailers, End Users

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

No. of Employees :

220 (Approximately)

Bankers :

Banker Name :	Punjab National Bank
Branch :	5, Ashirwad Complex, V S Hospital Road, Paldi,, Ahmedabad - 380007, Gujarat, India
Person Name (With Designation) :	--
Contact Number :	91-79-2131467
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 :	Ringing

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Term Loans	5.218	5.621
SHORT TERM BORROWING
Working capital loan from banks	30.817	16.675
Total	36.035	22.296

Auditors :
Name :	Dhruvin D. Kothari and Company Chartered Accountants
Address :	103, Anjani Complex, Near Choice Restaurant, Swastik Cross Road, Navarangpura, Ahmedabad – 380009, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAHFD1137G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	INR 1000/- each	INR 40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17500	Equity Shares	INR 1000/- each	INR 17.500 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	17.500	17.500	17.500
(b) Reserves & Surplus	30.181	20.512	15.790
(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)	47.681	38.012	33.290
(3) Non-Current Liabilities
(a) long-term borrowings	9.994	7.109	8.567
(b) Deferred tax liabilities (Net)	0.083	(0.018)	0.000
(c) Other long term liabilities	53.672	43.021	23.374
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	63.749	50.112	31.941
(4) Current Liabilities
(a) Short term borrowings	30.817	16.675	17.155
(b) Trade payables	54.730	40.597	42.208
(c) Other current liabilities	5.185	14.882	5.703
(d) Short-term provisions	4.044	2.330	2.090
Total Current Liabilities (4)	94.776	74.484	67.156
TOTAL	206.206	162.608	132.387
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	71.768	40.081	39.058
(ii) Intangible Assets	0.221	0.185	0.224
(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	1.077	1.000	1.174
(c) Deferred tax assets (net)	0.000	0.000	0.034
(d) Long-term Loan and Advances	1.776	1.359	4.459
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	74.842	42.625	44.949
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	88.962	73.137	54.277
(c) Trade receivables	28.484	21.430	20.450
(d) Cash and cash equivalents	3.783	8.751	2.729
(e) Short-term loans and advances	9.985	16.569	9.887
(f) Other current assets	0.150	0.096	0.095
Total Current Assets	131.364	119.983	87.438
TOTAL	206.206	162.608	132.387

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	312.569	177.860	179.675
	Other Income	2.462	5.725	2.492
	TOTAL	315.031	183.585	182.167
Less	EXPENSES
	Cost of Materials Consumed	257.119	155.352	134.530
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(9.478)	(20.471)	5.247
	Employees benefits expense	17.451	12.402	10.466
	administration expenses	26.107	21.560	18.278
	Other expenses	0.806	0.820	1.277
	TOTAL	292.005	169.663	169.798
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	23.026	13.922	12.369
Less	FINANCIAL EXPENSES	4.381	3.873	3.397
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	18.645	10.049	8.972
Less/ Add	DEPRECIATION/ AMORTISATION	4.689	3.193	2.656
	PROFIT/ (LOSS) BEFORE TAX	13.956	6.856	6.316
Less	TAX	4.288	2.134	2.057
	PROFIT/ (LOSS) AFTER TAX	9.668	4.722	4.259
	Earnings / (Loss) Per Share (INR)	5.53	270.00	243.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	2.651	2.845	3.834
Cash generated from operations	25.666	(2.275)	3.101
Net cash flows from (used in) operations	24.149	(4.393)	1.149

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	33.26	43.98	41.54
Account Receivables Turnover (Income / Sundry Debtors)	10.97	8.30	8.79
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	77.69	95.38	114.52
Inventory Turnover (Operating Income / Inventories)	0.26	0.19	0.23
Asset Turnover (Operating Income / Net Fixed Assets)	0.32	0.35	0.31

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.52	0.52	0.60
Debt Equity Ratio (Total Liability / Networth)	0.91	0.70	0.89
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.99	1.96	2.02
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.51	1.06	1.18
Interest Coverage Ratio (PBIT / Financial Charges)	5.26	3.59	3.64

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	3.09	2.65	2.37
Return on Total Assets ((PAT / Total Assets) * 100)	%	4.69	2.90	3.22
Return on Investment (ROI) ((PAT / Networth) * 100)	%	20.28	12.42	12.79

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.39	1.61	1.30
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.45	0.63	0.49
G-Score Ratio Financial (Networth / Total Assets)	0.23	0.23	0.25
G-Score Ratio Debt (Debts / Equity Capital)	2.48	1.52	1.69
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.39	1.61	1.30

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

FINANCIAL ANALYSIS

[all figures are 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	17.500	17.500	17.500
Reserves & Surplus	15.790	20.512	30.181
Net worth	33.290	38.012	47.681
long-term borrowings	8.567	7.109	9.994
Short term borrowings	17.155	16.675	30.817
Current Maturities of Long term debt	3.834	2.845	2.651
Total borrowings	29.556	26.629	43.462
Debt/Equity ratio	0.888	0.701	0.912

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	179.675	177.860	312.569
		(1.010)	75.739

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	179.675	177.860	312.569
Profit/(Loss)	4.259	4.722	9.668
	2.37%	2.65%	3.09%

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	No
18	Major suppliers	No
19	Major customers	No
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	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

CORPORATE INFORMATION:

The company in which public are not substantially interested and engaged in the business of manufacturing of hydraulic shearing machine, NC Hydraulic shearing machine, Hydraulic press-break, NC Hydraulic press-break, CNC Syncro Hydraulic press-break, iron water ‘Sigma’ deep drawing press, general purpose Hydraulic presses and special purpose machines. The company’s registered office is in Ahmedabad.

UNSECURED LOANS:

Particulars	31.03.2017 INR In Million	31.03.2016 INR In Million
LONG TERM BORROWINGS
From related parties
Ashok Panchal	1.099	0.108
Dinesh Chaudhary	0.736	0.703
Sanjay khankar	0.020	0.180
Satish Parmar	0.300	0.137
Snehal Mehta	2.622	0.360
Total	4.777	1.488

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G74004953	10352938	PUNJAB NATIONAL BANK	28/12/2011	20/12/2017	-	163000000.0	5, ASHIRWAD COMPLEX, V S HOSPITAL ROAD,PALDI,AHMEDABADGJ382110IN

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 65.04
UK Pound	1	INR 90.41
Euro	1	INR 79.83

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	NIS
Report Prepared by :	NKTS

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	YES
--AFFILIATION	YES/NO	NO
--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.