MIRA INFORM REPORT

Report No. :	494377
Report Date :	01.03.2018

IDENTIFICATION DETAILS

Name :	ELECTROMECH MATERIAL HANDLING SYSTEMS (INDIA) PRIVATE LIMITED
Registered Office :	Plot No. 1, Gate No. 316, At P Kasar Amboli, Taluka Mulshi, Pune – 412111, Maharashtra
Tel. No.:	91-20-66542222
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	08.05.1996
Com. Reg. No.:	11-099346
Capital Investment / Paid-up Capital :	INR 50.000 Million
CIN No.: [Company Identification No.]	U31109PN1996PTC099346
IEC No.:	3104014311
GST No.:	27AABCE2527J1ZQ
TIN No.:	27680027704
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCE2527J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Floating Cranes, Railway Cranes, Crane-Lorries, etc. (Registered Activity)
No. of Employees :	Not Divulged

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 :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1996. It is a manufacturer of Floating Cranes, Railway Cranes and Crane Lorries. Management has failed to file its financials with Registrar of Companies for the FY 2017. As per the available financial of 2016, the revenue of the company has decreased by 20.55% but has managed to maintain average profit margin of 2.40%. The satisfactory financial profile of the company is marked by acceptable networth base along with strong debt coverage indicators due to low debt balance sheet profile. However, rating is constrained on account of absence of latest financials. Business is active. Payments seems 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 (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	ICRA
Rating	Fund Based Term Loan=BBB
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	08.02.2018
Rating Agency Name	ICRA
Rating	Non Fund Based – Letter of Credit=A3+
Rating Explanation	Moderate degree of safety and higher credit risk
Date	08.02.2018

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 01.03.2018.

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. Suresh
Designation :	Regional Manager
Contact No.:	91-9381755801
Date :	27.02.2018

LOCATIONS

Registered/ Corporate Office/ Factory :	Plot No. 1, Gate No. 316, At P Kasar Amboli, Taluka Mulshi, Pune – 412111, Maharashtra, India
Tel. No.:	91-20-66542222
Mobile No.:	91-9381755801 [Mr. Suresh]
Fax No.:	91-20-66542222
E-Mail :	cranes@emech.in
Website :	https://www.emech.co.in
Sales and Service Network :	Vadodara Office Signet Business hub,Akshar Chowk, Old Padra Road, Vadodara – 390020, Gujarat, India Bangalore Office No. 22, 3rd Floor, Above Bombay Dyeing Showroom, 5th cross, 5th Block, Koramangala, Bangalore - 500095, Karnataka, India Chennai Office No. 6, 5th Floor, B wing, Gemini Parsn Manere No. 602, Anna Salai, Chennai -600006, Tamilnadu, India Delhi Office 313, 4th Floor, JOP Plazza, Sector – 18, Noida-201301, Uttar Pradesh, India Kolkata Office P-106, Metropolitan, Sector B, 1st Floor, Kolkata - 700 105, West Bengal, India     Mumbai Office A-103, Royale, Neelkanth Palms, Kapurbawdi, Thane (West) - 400607, Maharashtra, India

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Prakash Manohar Kulkarni

Designation :

Director

Address :

Flat No. G 703 and 803, Rohang Arima, Shivaji Nagar, Pune – 411016, Maharashtra, India

Date of Birth/Age :

09.06.1947

Date of Appointment :

30.06.2012

DIN No.:

00019652

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U23100MH1990PLC059511	WINMAN GAS LIMITED	11/08/2006	-
U29299MH1997PLC107595	THERMAX CO-GEN LIMITED	11/12/1998	-
U40101MH1996PLC099641	THERMAX ENERGY PERFORMANCE SERVICES LIMITED	14/08/2000	-
U51219MH1994PLC075876	THERMAX ELECTRONICS LIMITED	06/09/2000	-
U74999MH2010PTC207187	GLASS WALL SYSTEMS (INDIA) PRIVATE LIMITED	30/09/2014	-

Name :

Mr. Charuchandra Ganesh Patankar

Designation :

Director

Address :

616, Sindh Housing Society, Road 6, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

06.06.1956

Date of Appointment :

30.06.2012

DIN No.:

00136573

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L17121MH1988PLC050197	SPICE ISLAND APPARELS LIMITED	30/01/2006	-
U27100MH1988PLC049731	KALYANI MUKAND LIMITED	07/12/1996	-
U27106DL2005PLC142596	SLR METALIKS LIMITED	30/09/2017	-
U40102PN2007PTC130881	KGEPL ENGINEERING SOLUTIONS PRIVATE LIMITED	26/09/2015	-
U65929PN1994PLC082854	GLADIOLLA INVESTMENTS LIMITED	15/06/1996	-
U65993PN1983PLC029157	CHAKRAPANI INVESTMENTS AND TRADES LTD	01/02/1993	-
U65993PN1987PLC045156	SURAJMUKHI INVESTMENT AND FINANCE LTD	01/02/1993	-

Name :

Mr. Tushar Vinayak Mehendale

Designation :

Managing Director

Address :

Flat No. 2, Nishigandha Apartments, Prabhat Road, CTT CTS 105/6 FP No. 64/6, Pune – 411004, Maharashtra, India

Date of Birth/Age :

02.11.1975

Qualification :

B E Mechanical

Experience :

18 Years

Date of Appointment :

08.05.1996

PAN No.:

ACDPM3069L

DIN No.:

01846705

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U01403PN2010PTC151111	ANAY AGRI ESTATES PRIVATE LIMITED	12/02/2010	-
U35110PN2008PTC131226	RAJAPUR SHIPYARDS PRIVATE LIMITED	02/01/2008	-
U74140PN2008PTC131227	ELECTROMECH MARITECH PRIVATE LIMITED	02/01/2008	-
U74900PN2013PTC146802	NEBBIOLO SOLUTIONS PRIVATE LIMITED	02/04/2013	-
U74900PN2013PTC147706	ZOOMLION ELECTROMECH INDIA PRIVATE LIMITED	11/06/2013	-
U74990PN2009PTC139931	CRANEDGE INDIA PRIVATE LIMITED	01/07/2009	-

Name :

Mr. Prakash Bagla

Designation :

Director

Address :

C2008, Oberoi Splendor, Jogeshwari Vikhroli Link Road, Opposite Majas Bus Depot, Jogeshwari (East), Mumbai - 400060, Maharashtra, India

Date of Birth/Age :

11.11.1975

Qualification :

Master Degree

Date of Appointment :

28.02.2011

PAN No.:

ADAPB8228Q

DIN No.:

03043874

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U26931MH2008PTC243333	MAGICRETE BUILDING SOLUTIONS PRIVATE LIMITED	14/03/2013	-
U45500MH2016PTC282080	MAGICRETE CONSTRUCTION TECHNOLOGIES PRIVATE LIMITED	06/06/2016	-
U74990PN2009PTC139931	CRANEDGE INDIA PRIVATE LIMITED	28/02/2011	-
U74999MH2010PTC207187	GLASS WALL SYSTEMS (INDIA) PRIVATE LIMITED	30/09/2014	-

KEY EXECUTIVES

Name :	Mr. Suresh
Designation :	Regional Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2016

Names of Shareholders	No. of Shares
Mehendale Vinayak Tushar	3916117
Mehendale Vinayak Surekha	247666
Mehendale Tushar Awanti	233000
Mehendale Vinayak Kedar	125055
Tushar Vinayak Mehendale C/o Electromech Engineers	85254
Tushar Vinayak Mehendale C/o Tushar Constructions	3030
Tushar Vinayak Mehendale C/o Electromech Enterprises	4326
Kedar Vinayak Mehendale C/o Electromech Engineers	64005
Kedar Vinayak Mehendale C/o Tushar Constructions	3167
Kedar Vinayak Mehendale C/o Electromech Enterprises	2773
Surekha Vinayak Mehendale C/o Electromech Engineers	64042
Surekha Vinayak Mehendale C/o Tushar Constructions	3158
Surekha Vinayak Mehendale C/o Electromech Engineers	21134
India Busines Excellence Fund 1	152273
ILFS Trust Company acting in it’s capacityas trustee’s of Buisness Excellence Trust-India Business Excellence Fund	75000
Total	5000000

AS ON: 17.08.2016

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Floating Cranes, Railway Cranes, Crane-Lorries, etc. (Registered Activity)

Products/ Services :

ITC Code No.	Product Descriptions
28164000	Manufacture of floating cranes, railway cranes,crane-lorries

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS: (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Not Divulged

Bankers :

· State Bank of India

State Bank Bhavan, Madame Cama Road, Nariman Point, Mumbai -400021, Maharashtra, India

· Kotak Mahindra Bank Limited

36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India

· State Bank of India Industrial Finance Branch

"Tara Chambers"2ndfloor,Pune-Mumbai Highway, Near Mariaai Police Chowky,Wakdewadi, Pune - 411003, Maharashtra, India

· State Bank of India

I.F. Branch, Tara Chambers, Old Mumbai-Pune Highway, Near Mariaai Police Chowky, Wakdewadi, Pune - 411003, Maharashtra, India

· State Bank of India

Industial Finance Branch, Old Mumbai-Pune Road, Wakadewadi, Pune - 411003, Maharashtra, India

· Citi Bank N.A.

Facilities :

SECURED LOANS	31.03.2016 (INR In Million)	31.03.2015 (INR In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	3.795	7.556
SHORT TERM BORROWINGS
Other loans and advances, others	28.620	51.655
Total	32.415	59.211

Auditors :
Name :	S R B C and Company LLP Chartered Accountants
Address :	C-401, 4th Floor Panchshil Tech Park, Yerwada Near Don Bosco School, Pune-411006, Maharashtra, India
PAN No.:	ACHFS9117R
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Companies :	· Cranedge India Private Limited, India [U74990PN2009PTC139931] · Electromech Overseas, Mauritius · Nebbiolo Solutions Private Limited · Electromech FZE · Electromech Maritech India Private Limited
Associate Companies :	Zoomlion Electromech (I) Private Limited
Entities where key management personnel / relatives of key management personnel have significant influence (EKMP) :	· Electromech Engineers · Anay Infra Projects Private Limited · Tushar Constructions · Electromech Enterprises · Golwilkar Metropolis Health Services (I) Private Limited

CAPITAL STRUCTURE

AFTER: 17.08.2016

Authorised Capital : INR 80.000 Million

Issued, Subscribed & Paid-up Capital : INR 56.818 Million

AS ON: 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	INR 10/- each	INR 80.000 Million

Issued Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	INR 10/- each	INR 80.000 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	INR 10/- each	INR 50.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.000	50.000	50.000
(b) Reserves and Surplus	490.331	456.373	411.567
(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)	540.331	506.373	461.567
(3) Non-Current Liabilities
(a) long-term borrowings	403.795	407.556	400.000
(b) Deferred tax liabilities (Net)	22.423	26.405	31.828
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	18.945	12.496	2.900
Total Non-current Liabilities (3)	445.163	446.457	434.728
(4) Current Liabilities
(a) Short-term borrowings	28.620	51.655	138.650
(b) Trade payables	152.902	304.255	234.546
(c) Other current liabilities	197.456	173.454	165.660
(d) Short-term provisions	21.923	64.473	58.717
Total Current Liabilities (4)	400.901	593.837	597.573
TOTAL	1386.395	1546.667	1493.868
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	523.992	482.778	492.446
(ii) Intangible Assets	2.396	1.969	2.044
(iii) Tangible assets capital work-in-progress	3.804	3.804	8.968
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	116.199	116.199	116.199
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	12.898	54.894	0.000
(e) Other Non-current assets	48.515	40.605	56.084
Total Non-Current Assets	707.804	700.249	675.741
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	220.491	213.933	198.696
(c) Trade receivables	289.565	525.075	553.433
(d) Cash and bank balances	122.056	65.644	35.418
(e) Short-term loans and advances	44.387	38.350	27.346
(f) Other current assets	2.092	3.416	3.234
Total Current Assets	678.591	846.418	818.127
TOTAL	1386.395	1546.667	1493.868

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	1417.047	1783.716	1512.016
	Other Income	21.433	9.030	10.209
	TOTAL	1438.480	1792.746	1522.225
Less	EXPENSES
	Cost of Materials Consumed	845.735	1126.162	983.427
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(17.069)	1.066	8.324
	Employee benefit expense	204.448	178.433	154.778
	Other expenses	286.657	263.352	215.420
	TOTAL	1319.771	1569.013	1361.949
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	118.709	223.733	160.276
Less	FINANCIAL EXPENSES	28.888	47.806	30.977
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	89.821	175.927	129.299
Less/ Add	DEPRECIATION/ AMORTISATION	37.512	36.016	24.352
	PROFIT/ (LOSS) BEFORE TAX	52.309	139.911	104.947
Less	TAX	18.351	47.975	37.442
	PROFIT/ (LOSS) AFTER TAX	33.958	91.936	67.505
	EARNINGS IN FOREIGN CURRENCY
	Export Earnings [FOB basis]	NA	122.233	102.977
	TOTAL EARNINGS	NA	122.233	102.977
	IMPORTS
	Raw Materials	NA	385.124	179.097
	TOTAL IMPORTS	NA	385.124	179.097
	Earnings / (Loss) Per Share (INR)
	Basic	6.79	18.39	13.50
	Diluted	6.79	14.23	10.15

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	0.344
Net cash flows from (used in) operations	241.616	109.463	96.766
Net cash flows from (used in) operating activities	209.122	87.284	82.520

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	74.59	107.45	133.60
Account Receivables Turnover (Income / Sundry Debtors)	4.89	3.40	2.73
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	65.99	98.61	87.05
Inventory Turnover (Operating Income / Inventories)	0.54	1.05	0.81
Asset Turnover (Operating Income / Net Fixed Assets)	0.22	0.46	0.32

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.58	0.65	0.67
Debt Equity Ratio (Total Liability / Networth)	0.80	0.91	1.17
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.74	1.17	1.29
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.98	0.96	1.09
Interest Coverage Ratio (PBIT / Financial Charges)	4.11	4.68	5.17

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	2.40	5.15	4.46
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.45	5.94	4.52
Return on Investment (ROI) ((PAT / Networth) * 100)	%	6.28	18.16	14.63

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.69	1.43	1.37
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.14	1.07	1.04
G-Score Ratio Financial (Networth / Total Assets)	0.39	0.33	0.31
G-Score Ratio Debt (Debts / Equity Capital)	8.65	9.18	10.78
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.69	1.43	1.37

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	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	50.000	50.000	50.000
Reserves & Surplus	411.567	456.373	490.331
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	461.567	506.373	540.331
long-term borrowings	400.000	407.556	403.795
Short term borrowings	138.650	51.655	28.620
Total borrowings	538.650	459.211	432.415
Debt/Equity ratio	1.167	0.907	0.800

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	1512.016	1783.716	1417.047
		17.969	(20.556)

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	1512.016	1783.716	1417.047
Profit	67.505	91.936	33.958
	4.46%	5.15%	2.40%

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	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G46668844	100104933	Citi Bank N.A.	17/03/2017	-	-	200000000.0	First International Financial Centre,9th FloorPlot No. C-54 & 55, BKC, Bandra (E)MumbaiMH400051IN
2	G38157152	100082672	State Bank of India	13/02/2017	-	-	300000000.0	State Bank Bhavan, Madame Cama Road,Nariman Point, Mumbai -400021MumbaiMH400021IN
3	B87683207	10456855	KOTAK MAHINDRA BANK LIMITED	07/10/2013	-	-	150000000.0	36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN
4	B44720456	10368141	KOTAK MAHINDRA BANK LIMITED	09/07/2012	-	-	150000000.0	36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN
5	B87682746	90093359	State Bank of India	13/10/2005	07/10/2013	-	918000000.0	I.F.Branch,Tara Chambers, Old Mumbai-Pune HighwayNear Mariaai Police Chowky, WakdewadiPuneMH411003IN

UNSECURED LOANS

PARTICULARS	31.03.2016 (INR In Million)	31.03.2015 (INR In Million)
LONG-TERM BORROWINGS
Fully convertible debentures others	400.000	400.000
Total	400.000	400.000

COMPANY’S PERFORMANCE*

During the year, the Company has earned INR 1420.000 Million as revenue. The net profit for the year has been INR 34.000 Million as against INR 91.900 Million during the previous financial year. The Directors are continuously looking for avenues for future growth of the Company in material handling equipment industry.

The Company’s performance has been discussed in detail in the Management Discussion and Analysis Report.

CHANGE OF ADDRESS:

The Registered address of the company has been shifted from Prahlad Arcade, Plot No. 73/2/1, Bhakti Marg, Off. Law College Road, Erandawana, Pune – 411004, Maharashtra, India to the present address w.e.f.01.07.2009

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

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 65.10
UK Pound	1	INR 90.45
Euro	1	INR 79.59

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	VAR
Report Prepared by :	IND

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.