MIRA INFORM REPORT

Report No. :	516554
Report Date :	27.06.2018

IDENTIFICATION DETAILS

Name :	RDS PROJECT LIMITED
Registered Office :	427, Somdutt Chambers - 2,  9, Bhikaji Cama Place, New Delhi -110066
Tel. No.:	91- 11-26170242 / 46151500
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	16.07.1992
CIN No.: [Company Identification No.]	U51909DL1992PLC049570
Capital Investment / Paid-up Capital :	INR 283.825 Million
IEC No.: [Import-Export Code No.]	Not Divulged
PAN No.: [Permanent Account No.]	AAACR4761J
TIN /CST No.:	07872006778
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject engaged in the business of Civil Construction, Real Estate and allied works (Registered Activity)
No. of Employees :	Information denied by the management

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 4134000
Status :	Good
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1992 and it is engaged into Construction business. As per the financial records of 2017, the company has achieved 25.33% growth in its revenue as compared to the previous year revenue along with average profit margin of 2.69%. The sound financial profile of the company is marked by healthy networth base along with negligible debt level. The rating takes into consideration the subject’s long established track record of the business operations along with extensive experience of its promoters. However, these rating strengths are partially offset by highly competitive construction industry. Business is active. Payment seem to be slow but 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 (31.12.2017)	Current Rating (01.04.2018)
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

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 27.06.2018

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 DECLINED BY

Name :	Mr. Manikandan P Nair
Designation :	Purchase Department
Contact No.:	91-9388085125
Date :	21.06.2018

(Tel No.: 91-484-4078900 – Ringing)

LOCATIONS

Registered Office/ Corporate Office :	427, Somdutt Chambers - 2,  9, Bhikaji Cama Place, New Delhi -110066, India
Tel. No.:	91- 11-26170242 / 46151500
Mobile No.:	91-9388085125 (Mr. Manikandan P Nair)
Fax No.:	91-11-26168092
E-Mail :	delhi@rdsproject.com agra@rdsproject.com chennai@rdsproject.com cochin@rdsproject.com portblair@rdsproject.com trivandrum@rdsproject.com
Website :	http://www.rdsproject.com
Regional Office 1:	44-A, The Mall Road, Agra-282002, Uttar Pradesh, India
Tel. No.:	91-562-2226892
Fax No.:	91-562-2226893
Regional Office 2:	New No. 12 (Old no. 167), Eldams Square, Eldams Road, Chennai – 600028, Tamilnadu, India
Tel. No.:	91-44-24315123
Regional Office 3:	Shihab Tangal Road, Near Passport Office, Panampilly Nagar,  Cochin – 682036, Kerala, India
Tel. No.:	91-484-4078900 (100 Lines)
Fax No.:	91-484-2323012
Regional Office 4:	1, Gandhi Bhavan,  Moulana Azad Road, Port Blair - 744 101 (Andaman)
Tel. No.:	91-3192-233551 / 245694
Fax No.:	91-3192-233551
Regional offices 5:	TC 2/701, Chalakuzhy Road, Medical College PO, Thiruvananthapuram – 69501, Kerala, India
Tel. No.:	91-471-2441535 / 2442666
Fax No.:	91-471-2555738

DIRECTORS

As on 31.03.2018

Name :

Mr. Sumit Goyal

Designation :

Managing Director

Address :

44-A, Mall Road, Agra-282001, Uttar Pradesh, India

Date of Birth:

16.03.1930

Date of Appointment :

02.06.2014

PAN No.:

AERPG4185K

DIN No.:

00276776

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U40108DL2002PLC115291	RDS POWER LIMITED	01/04/2007	-
U45200DL2006PTC310684	SHARMA SHELTERS PRIVATE LIMITED	31/05/2010	-
U45200DL2008PLC178063	SEA-VIEW LEISURE & REALCON LIMITED	13/05/2008	-
U45201UP2005PTC030201	SAKSHAM DEVELOPMENTS PRIVATE LIMITED	14/05/2007	-
U51109DL2008PLC177971	RDS REALTIES LIMITED	30/09/2015	-

Name :

Mr. Madan Lal Goyal

Designation :

Whole Time Director

Address :

44-A, Mall Road, Agra- 282001, Uttar Pradesh, India

Date of Birth:

16.03.1930

Date of Appointment :

02.06.2014

PAN No.:

AESPG6634A

DIN No.:

00276726

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U40108DL2002PLC115291	RDS POWER LIMITED	09/05/2002	-
U45200DL2006PTC310684	SHARMA SHELTERS PRIVATE LIMITED	31/05/2010	-
U45200DL2008PLC178063	SEA-VIEW LEISURE & REALCON LIMITED	29/09/2011	-
U45201UP2005PTC030201	SAKSHAM DEVELOPMENTS PRIVATE LIMITED	29/03/2006	-
U51109DL2008PLC177971	RDS REALTIES LIMITED	12/05/2008	-

Name :

Mrs. Sharda Goyal

Designation :

Whole Time Director

Address :

44-A, Mall Road, Agra- 282001, Uttar Pradesh, India

Date of Birth:

27.10.1952

Date of Appointment :

02.06.2014

PAN No.:

AESPG6516M

DIN No.:

01586314

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U45200DL2006PTC310684	SHARMA SHELTERS PRIVATE LIMITED	31/05/2010	-
U45200DL2008PLC178063	SEA-VIEW LEISURE & REALCON LIMITED	29/09/2011	-
U51109DL2008PLC177971	RDS REALTIES LIMITED	29/09/2011	-

Name :

Mr. Rahul Garg

Designation :

Whole Time Director

Address :

1206, Nanda Apartments, Kaushambi, Ghaziabad - 201010, Uttar Pradesh, India

Date of Birth:

29.07.1968

Date of Appointment :

02.06.2007

PAN No.:

ACTPG1442R

DIN No.:

01586329

Name :

Mr. Mayank Goytal

Designation :

Whole Time Director

Address :

44-A, Mall Road, Agra-282001, Uttar Pradesh, India

Date of Birth:

15.08.1980

Date of Appointment :

02.06.2014

PAN No.:

AHQPG0089A

DIN No.:

01737992

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U40108DL2002PLC115291	RDS POWER LIMITED	02/01/2010	-
U45200DL2006PTC310684	SHARMA SHELTERS PRIVATE LIMITED	31/05/2010	-
U45200DL2008PLC178063	SEA-VIEW LEISURE & REALCON LIMITED	13/05/2008	-
U51109DL2008PLC177971	RDS REALTIES LIMITED	29/09/2011	-
U70102AN2009PTC000119	ANDAMAN PROPERTIES PRIVATE LIMITED	26/09/2017	-

Name :

Mr. Shashank Goyal

Designation :

Whole Time Director

Address :

44-A, Mall Road, Agra-282001, Uttar Pradesh, India

Date of Birth:

19.02.1988

Date of Appointment :

28.03.2016

PAN No.:

AOUPG5979G

DIN No.:

06618863

Name :

Mr. Sudhir Kant Hajela

Designation :

Director

Address :

J. P. Associates Limited, Dalla Cement Factory, P. O. Dalla, Sonebhadra – 231207, Uttar Pradesh, India

Date of Birth:

26.06.1946

Date of Appointment :

04.12.2006

PAN No.:

AAPPH2120M

DIN No.:

02142715

Name :

Mr. Yashwant Vasudeo Joshi

Designation :

Director

Address :

A-1/ 402, Karishma, Sangam Press Road, Pune - 411029, Maharashtra, India

Date of Birth:

25.10.1932

Date of Appointment :

04.12.2006

PAN No.:

AAOPJ2321H

DIN No.:

02149534

Name :

Ms. Anita Goyal

Designation :

Director

Address :

44-A Mall Road Agra - 282001, Uttar Pradesh, India

Date of Birth:

05.01.1958

Date of Appointment :

30.09.2016

PAN No.:

AERPG4189F

DIN No.:

06628321

Name :

Mr. Ram Narain Agarwal

Designation :

Director

Address :

170, Nehru Nagar, Bye Pass Road, Agra-282002, Uttar Pradesh, India

Date of Birth:

10.04.1939

Date of Appointment :

04.12.2006

PAN No.:

AFXPA0991A

DIN No.:

01163703

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U70100UP2013PTC060705	KRISHNAGOVIND INFRABUILD PRIVATE LIMITED	20/11/2013	-

KEY EXECUTIVES

Name :	Mr. Ahuja Atam Prakash
Designation :	Chief Finance Officer
Address :	33-B, Gf Parsvnath Panchvati Taj Nagri, Phase II, Agra -282004, Uttar Pradesh, India
Date of Appointment :	02.06.2014
PAN No.:	ABVPA2364H
Name :	Mr. Puthanangadi Kokey Lazar
Designation :	Company Secretary
Address :	Puthanangadi House Kandanad P.O. Ernakulam- 682305, Kerala, India
Date of Appointment :	08.10.1996
PAN No.:	ABAPL3470A
Name :	Mr. Manikandan P Nair
Designation :	Purchase Department

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders	No. of Shares
Madan Lal Goyal	2204828
Malti Devi	3214704
Neelu Agarwal	1640688
Sharda Goyal	3515036
Charu Goyal`	1175664
Shashank Goyal	1182992
Shipra Goyal	1186528
Rameshwar Dayal and Sons HUF	70800
Sumit Goyal	2568196
Anita Goyal	3656512
Shiva Goyal	290304
Manika Goyal	290304
Shubha Goyal	290304
Aastha Goyal	2054253
Amit Goyal Huf	860320
Mayank Goyal	4181047
Total	28382480

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 :

Subject engaged in the business of Civil Construction, Real Estate and allied works (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
86080010	Port, Roads, Highways

NIC Code No.	Products/Services Description
DIVISION-68	The company is presently engaged in the business of Civil Construction, Real Estate and allied works.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 :

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

No. of Employees :

Information denied by the management

Bankers :

• Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad-380006, Gujarat, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg Lower Parel (West), Mumbai-400013, Maharashtra, India
• ICICI Bank Limited, ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee Term Loans From Banks (Hypothecation of equipment and vehicles)	131.258	122.006
Rupee Term Loans From Others (Hypothecation of equipment and vehicles)	18.013	27.834
Short-term borrowings
Loans Repayable On Demand (Pari Passu charge on current assets, first charge on unencumbered fixed assets, personal guarantee)	978.210	940.080
Total	1127.481	1089.92

Auditors :
Name :	Sharat Chandra and Company Chartered Accountants
Address :	1 / 9 - C, Mahatama Gandhi Road, Sahitya Kunj, Agra-282002, Uttar Pradesh, India
Income-tax PAN of auditor or auditor's firm :	ABIPC2089A
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	Sharma Shelters Private Limited Sea-View Leisure and Realcon Limited Saksham Developments Private Limited

CAPITAL STRUCTURE

As on 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	INR 10/- each	INR 300.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
28382480	Equity Shares	INR 10/- each	INR 283.825 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	283.825	283.825	283.825
(b) Reserves and Surplus	1163.007	1043.339	930.313
(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)	1446.832	1327.164	1214.138
(3) Non-Current Liabilities
(a) long-term borrowings	149.271	149.840	184.501
(b) Deferred tax liabilities (Net)	9.820	10.586	4.663
(c) Other long-term liabilities	267.565	519.694	301.496
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	426.656	680.120	490.660
(4) Current Liabilities
(a) Short-term borrowings	978.210	940.080	1031.372
(b) Trade payables	705.177	599.188	481.725
(c) Other current liabilities	457.444	477.610	389.033
(d) Short-term provisions	22.134	33.639	40.763
Total Current Liabilities (4)	2162.965	2050.517	1942.893
TOTAL	4036.453	4057.801	3647.691
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	926.033	988.552	995.867
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets 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	87.673	87.673	87.673
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	0.507	0.507	0.507
(e) Other Non-current assets	2.050	116.114	116.114
Total Non-Current Assets	1016.263	1192.846	1200.161
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1532.000	1572.000	1536.500
(c) Trade receivables	34.983	186.743	55.748
(d) Cash and bank balances	344.442	315.405	252.807
(e) Short-term loans and advances	953.791	580.854	445.100
(f) Other current assets	154.974	209.953	157.375
Total Current Assets	3020.190	2864.955	2447.530
TOTAL	4036.453	4057.801	3647.691

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Revenue from operations	4440.547	3542.944	3172.123
	Other Income	32.049	24.693	24.719
	TOTAL	4472.596	3567.637	3196.842
Less	EXPENSES
	Cost of Materials Consumed	3566.334	2890.736	2921.744
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	40.000	(35.500)	(441.300)
	Employee benefit expense	97.081	105.146	99.536
	CSR expenditure	0.070	0.075	0.000
	Other expenses	192.787	71.768	70.790
	TOTAL	3896.272	3032.225	2650.770
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	576.324	535.412	546.072
Less	FINANCIAL EXPENSES	252.906	225.496	240.797
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	323.418	309.916	305.275
Less/ Add	DEPRECIATION/ AMORTISATION	144.516	136.967	129.463
	PROFIT/ (LOSS) BEFORE TAX	178.902	172.949	175.812
Less	TAX	59.235	59.923	60.395
	PROFIT/ (LOSS) AFTER TAX	119.667	113.026	115.417
	Earnings / (Loss) Per Share (INR)	4.22	3.98	4.07

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	63.658	92.099	NA
Net cash flows from (used in) operations	674.864	278.263	527.715
Net cash flows from (used in) operating activities	603.359	217.139	467.823

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	2.88	19.24	6.41
Account Receivables Turnover (Income / Sundry Debtors)	126.93	18.97	56.90
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	72.17	75.66	60.18
Inventory Turnover (Operating Income / Inventories)	0.38	0.34	0.36
Asset Turnover (Operating Income / Net Fixed Assets)	0.62	0.54	0.55

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.59	0.56	0.58
Debt Equity Ratio (Total Liability / Networth)	0.82	0.89	1.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.49	1.55	1.60
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.64	0.74	0.82
Interest Coverage Ratio (PBIT / Financial Charges)	2.28	2.37	2.27

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	(%)	2.69	3.19	3.64
Return on Total Assets ((PAT / Total Assets) * 100)	(%)	2.96	2.79	3.16
Return on Investment (ROI) ((PAT / Networth) * 100)	(%)	8.27	8.52	9.51

SOLVENCY RATIO

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.40	1.40	1.26
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.69	0.63	0.47
G-Score Ratio Financial (Networth / Total Assets)	0.36	0.33	0.33
G-Score Ratio Debt (Debts / Equity Capital)	4.20	4.16	4.28
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.40	1.40	1.26

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	283.825	283.825	283.825
Reserves & Surplus	930.313	1043.339	1163.007
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1214.138	1327.164	1446.832
Long-term borrowings	184.501	149.84	149.271
Short term borrowings	1031.372	940.08	978.21
Total borrowings	1215.873	1089.920	1127.481
Debt/Equity ratio	1.001	0.821	0.779

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	3172.123	3542.944	4440.547
		11.690	25.335

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	3172.123	3542.944	4440.547
Profit/ (Loss)	115.417	113.026	119.667
	3.64%	3.19%	2.69%

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	283.825	283.825
(b) Reserves and Surplus	1205.330	1086.279
(c) Money received against share warrants	0.000	0.000
(d) Minority interest	21.693	22.026
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1489.155	1370.104
(3) Non-Current Liabilities
(a) long-term borrowings	149.271	149.840
(b) Deferred tax liabilities (Net)	9.820	10.586
(c) Other long-term liabilities	267.565	519.694
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	426.656	680.120
(4) Current Liabilities
(a) Short-term borrowings	983.210	945.080
(b) Trade payables	705.177	599.188
(c) Other current liabilities	394.575	414.092
(d) Short-term provisions	22.134	33.639
Total Current Liabilities (4)	2105.096	1991.999
TOTAL	4042.600	4064.249
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	975.164	1037.683
(ii) Intangible Assets	0.000	0.000
(iii) Tangible assets capital work-in-progress	1.910	1.910
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	12.252	12.252
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term loans and advances	0.507	0.507
(e) Other Non-current assets	2.050	116.114
Total Non-Current Assets	991.883	1168.466
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1532.000	1572.000
(c) Trade receivables	34.983	186.743
(d) Cash and bank balances	345.032	315.747
(e) Short-term loans and advances	954.631	582.242
(f) Other current assets	184.071	239.051
Total Current Assets	3050.717	2895.783
TOTAL	4042.600	4064.249

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Revenue from operations	4440.547	3542.944
	Other Income	32.049	24.693
	TOTAL	4472.596	3567.637
Less	EXPENSES
	Cost of Materials Consumed	3566.334	2890.736
	Purchases of Stock-in-Trade	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	40.000	(35.500)
	Employee benefit expense	97.081	105.146
	Other expenses	193.802	71.966
	TOTAL	3897.217	3032.348
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	575.379	535.289
Less	FINANCIAL EXPENSES	252.910	225.559
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	322.469	309.730
Less/ Add	DEPRECIATION/ AMORTISATION	144.516	136.967
	PROFIT/ (LOSS) BEFORE TAX	177.953	172.763
Less	TAX	59.234	59.942
	PROFIT/ (LOSS) AFTER TAX	118.719	112.821
	Earnings / (Loss) Per Share (INR)	4.18	3.98

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	Yes
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)	No
16]	No. of employees	No
17]	Details of sister concerns	Yes
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]	Litigations that the firm/promoter involved in	--
32]	Market information	--
33]	Payments terms	No
34]	Negative Reporting by Auditors in the Annual Report	No

HIGH LIGHTS OF PERFORMANCE

The Company’s turn over during financial year 2016-17 was INR 4440.547 million as against INR 3542.944 million in the previous year. Profit for the year was INR 119.668 million as compared to INR 113.026 million in the previous year.

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G87397410	100176837	AXIS BANK LIMITED	08/05/2018	-	-	14886592.0	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD-380006, GUJARAT, INDIA
2	G86363124	100176706	HDFC BANK LIMITED	22/02/2018	-	-	7580160.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL (WEST), MUMBAI-400013, MAHARASHTRA, INDIA
3	G78901741	100159220	ICICI BANK LIMITED	20/02/2018	-	-	987480.0	ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARA-390007, GUJARAT, INDIA
4	G78020542	100158113	ICICI BANK LIMITED	10/01/2018	-	-	32350000.0	ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARA-390007, GUJARAT, INDIA
5	G70085915	100143575	HDFC BANK LIMITED	07/10/2017	-	-	1879740.0	HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
6	G61260022	100132769	HDFC BANK LIMITED	29/09/2017	-	-	9956250.0	HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
7	G72031925	100143147	ICICI BANK LIMITED	31/08/2017	-	-	17067700.0	ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARA-390007, GUJARAT, INDIA
8	G52880549	100121466	ICICI BANK LIMITED	28/08/2017	-	-	787200.0	ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARA-390007, GUJARAT, INDIA
9	G52466679	100120688	ICICI BANK LIMITED	19/08/2017	-	-	3278700.0	ICICI BANK TOWER, NEAR CHAKLI CIRCLE, OLD PADRA ROAD, VADODARA-390007, GUJARAT, INDIA
10	G52643327	100121088	AXIS BANK LIMITED	16/08/2017	-	-	27174575.0	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD-380006, GUJARAT, INDIA

FIXED ASSETS

• Land
• Building
• Office building
• Plant and equipment
• Furniture and Fixture
• Vehicles
• Motor vehicles
• 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 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 68.08
UK Pound	1	INR 89.59
Euro	1	INR 78.83

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	VAR
Report Prepared by :	RKI

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.