MIRA INFORM REPORT

Report No. :	495784
Report Date :	08.03.2018

IDENTIFICATION DETAILS

Name :	DOZCO (INDIA) PRIVATE LIMITED
Registered Office :	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal
Tel. No.:	91-33-22305943
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	30.03.1992
Com. Reg. No.:	21-054998
Capital Investment / Paid-up Capital :	INR 32.354 Million
CIN No.: [Company Identification No.]	U29130WB1992PTC054998
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No:	19450520026
CST No.:	19450520220
TAN No.: [Tax Deduction & Collection Account No.]	CALD01356F
PAN No.: [Permanent Account No.]	AABCD0776E
GSTN : [Goods & Service Tax Registration No.]	19AABCD0776E1ZS
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of heavy earth moving machineries and spares. Manufacturing of rock breakers and chisels. [Registered Activity]
No. of Employees :	Information declined 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+	Low Risk	Business dealings permissible with low risk of default

Maximum Credit Limit :	USD 3800000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 1992. As per the financial records of 2017, the company has achieved a fair growth of 16.63% in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 2.29%. The company possesses sound financial profile marked by healthy net worth base along with comfortable debt balance sheet profile and favourable liquidity position. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

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

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Loans = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	06.03.2017

Rating Agency Name	CARE
Rating	Short Term Loans = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	06.03.2017

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2016.

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 08.03.2018

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

Management non-cooperative (Tel No.:91-891-2769681)

LOCATIONS

Registered Office :	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal, India
Tel. No.:	91-33-22305943
Fax No.:	91-33-22480604
E-Mail :	info@dozco.com kolkata@dozco.com
Website :	http://www.dozco.com
Corporate Office :	Plot No. 243, Block D, Industrial Development Area, Auto Nagar, Visakhapatnam – 530012, Andhra Pradesh, India
Tel. No.:	91-891-2769681
Fax No.:	91-891-2769687
E-Mail :	info@dozco.com
Factory :	Survey No. 90 and 91, Fakir Tikkaya Village, Block G, Industrial Park, Autonagar, Visakhapatnam District – 530012, Andhra Pradesh, India
Branch Offices :	Located at: · Jammu · New Delhi · Jaipur · Jodhpur · Kota · Udaipur · Indore · Ahmedabad · Mumbai · Mangalore · Bengaluru · Cochin · Chennai · Hyderabad · Visakhapatnam · Nagpur · Satna · Lucknow · Guwahati · Siliguri · Pakur · Nawada · Barhi · Dhanbad · Barbil · Bilaspur · Raipur · Bhubaneshvar · Singrauli · Patna

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Radhe Shyam Bangur

Designation :

Whole Time Director

Address :

A-32, Minocha Colony, Mungeli Road, Bilaspur - 495001, Chattisgarh, India

Date of Birth/Age :

21.01.1952

Date of Appointment :

30.03.1992

Qualification :

Commerce Graduate; Indian University

PAN No.:

ACJPB8023D

DIN No.:

00120097

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	02/04/1990	-
U51909WB1992PTC056527	GCB FINVEST PRIVATE LIMITED	04/09/1992	-
U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	19/05/2006	-

Name :

Mr. Shiv Kumar Bangur

Designation :

Whole Time Director

Address :

303, Amarjyoti Palace, 3^rd Floor, Lokmat Square, Wardha Road, Nagpur – 440012, Maharashtra, India

Date of Birth/Age :

19.02.1954

Date of Appointment :

01.04.1994

Qualification :

B.Com

PAN No.:

ACVPB5055F

DIN No.:

00120871

Name :

Mr. Om Prakash Bangur

Designation :

Whole Time Director

Address :

Flat 3A and 3B, 66, Tapan Choudhury Avenue, Kalighat Kolkata - 700026 , West Bengal, India

Date of Birth/Age :

14.02.1957

Qualification :

B. Com, CA

Date of Appointment :

30.03.1992

PAN No.:

AELPB3441H

DIN No.:

00091652

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51909WB1992PTC056527	GCB FINVEST PRIVATE LIMITED	04/09/1992	-
U52201WB1994PTC064706	SILKINA COMMODEAL PRIVATE LIMITED	22/10/2011	-
U65921WB1994PTC151636	SINGH FINVEST PRIVATE LIMITED	01/09/2011	-
U70109WB1995PTC068174	SAMSUNG PROPERTIES PRIVATE LIMITED	01/08/2006	-
U70109WB2012PTC172466	DOZCO-PMAX INFRA (INDIA) PRIVATE LIMITED	18/01/2012	-
U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	19/05/2006	-
U74950WB1993PTC060732	M G B COMMERCIAL PRIVATE LIMITED	03/10/2006	-
U93090WB2017NPL221159	FORUM FOR PEOPLE'S COLLECTIVE EFFORTS	24/05/2017	-

Name :

Mr. Ramesh Kumar Bangur

Designation :

Whole Time Director

Address :

Plot No.243, D-Block, Industrial Development Area, Auto Nagar, Vishakhapatnam – 530012, Andhra Pradesh, India

Date of Birth/Age :

10.12.1958

Qualification :

B. Com

Date of Appointment :

30.03.1992

PAN No.:

ACJPB8853D

DIN No.:

00241628

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	02/04/1990	-
U70102AP2005PTC105305	RADIANT DEVELOPERS PRIVATE LIMITED	30/09/2010	-

Name :

Mr. Nand Gopal Bangur

Designation :

Whole Time Director

Address :

Plot No.243, D-Block, Industrial Development Area, Auto Nagar, Vishakhapatnam – 530012, Andhra Pradesh, India

Date of Birth/Age :

06.05.1964

Qualification :

B.COM

Date of Appointment :

30.03.1992

PAN No.:

ACVPB5237H

DIN No.:

00241593

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	02/04/1990	-
U29248AP2012PTC084481	TAIHEIYO SEIKI (INDIA) PRIVATE LIMITED	29/11/2012	-
U70102AP2005PTC105305	RADIANT DEVELOPERS PRIVATE LIMITED	30/09/2010	-
U70109WB1995PTC068174	SAMSUNG PROPERTIES PVT. LTD.	30/09/2011	-
U70109WB2012PTC172466	DOZCO-PMAX INFRA (INDIA) PRIVATE LIMITED	18/01/2012	-
U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	19/05/2006	-

Name :

Mr. Kamal Kishor Bangur

Designation :

Whole Time Director

Address :

248, Kilpauk Garden Road, Coral Orcheds, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

05.06.1968

Date of Appointment :

01.04.1994

Qualification :

B.com

PAN No.:

AAGPB6161K

DIN No.:

00091697

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	02/04/1990	-
U52609AP2017PTC107248	DTR EQUIPMENTS & PARTS PRIVATE LIMITED	14/12/2017	-

Note: Address of the directors has been updated as per the latest government registry records.

KEY EXECUTIVES

Name :	Ashok Kumar Daga
Designation :	Practicing Company Secretary
Address :	Avani Oxford Phasse – II, 136, Jessore Road, Block – 1, Flat #1B, 1^st Floor, Kolkata – 700055, West Bengal, India
Tel. No:	91-33-32916865
Mobile	91-9831036425, 9830236425
Email;	daga.ashok@gmail.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 31.03.2017

Names of Shareholders	No. of Shares Held
Radhey Shyam Bangur	79000
Shiv Kumar Bangur	79250
Om Prakash Bangur	102250
Ramesh Kumar Bangur	93000
Nand Gopal Bangur	93340
Kamal Kishore Bangur	103170
Radhey Shyam Bangur (HUF)	585
Shiv Kumar Bangur (HUF)	15167
Om Prakash Bangur (HUF)	1500
Ramesh Kumar Bangur (HUF)	10585
Nand Gopal Bangur (HUF)	10585
Kamal Kishore Bangur (HUF)	752
Bhagwani Devi Bangur	35000
Tara Bangur	16910
Leela Bangur	9990
Usha Bangur	6500
Poonam Bangur	7400
Manju Bangur	7400
Vibha Bangur	7400
Sandeep Bangur	21750
Raunak Bangur	1240
Pragati Daga	83
Swati Bangur	83
GCB Finvest Private Limited	611675
Silkina Commodeal Private Limited	491000
Singh Finvest Private Limited	412500
Excon Equipment and Services Pte Limited	571658
Galaxy Merchants Private Limited	214800
Chelsea Traders Private Limited	51250
Honourable Business Private Limited	53750
Satyatej Merchants Private Limited	17500
Kamdhenu Lefins Private Limited	35600
Gama Business Private Limited	21250
Paridhi Agencies Private Limited	27750
Sundrop Towers Private Limited	23750
Total	3235423

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	21.73
Promoters [Individual/Hindu Undivided Family – Foreign national (other than NRI)]	17.67
Promoters (Body corporate)	46.83
Public/Other than promoters (Body corporate)	13.77
Total	100.00

BUSINESS DETAILS

Line of Business :

· Trading of heavy earth moving machineries and spares.

· Manufacturing of rock breakers and chisels. [Registered Activity]

Products :

Item Code No.	Product Description
84314990	Spares parts of earthmoving machineries
00440245	Maintenance or Repair Service

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 declined by the management

Bankers (As on 2017)

· IndusInd Bank, 2401, General Thimmaya Road, Cantonment, Pune-411001, Maharashtra, India

· IndusInd Bank, M.G. Road, Near Benz Circle, Vijayawada-520010 Andhra Pradesh, India

· Axis Bank Limited, "Trishul', 3rd Floor, Opposite to Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad-380006, Gujarat, India

Banker Name	Small Industries Development Bank of India
Branch Address	D.No.50-50-33/3, II Floor, J.R. Plaza, Near Gurudwara, Seethammadhara, Visakhapatnam, -530013, Andhra Pradesh, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	154.622
Loans taken for fixed assets	10.151
Short-term borrowings
Other loans and advances, others	965.572
Foreign currency term loans from banks	18.800
Total	1149.145

Secured Loan	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	259.019
Loans taken for fixed assets	5.855
Short-term borrowings
Other loans and advances, others	860.396
Total	1125.270

Auditors :
Name :	R K Periwal and Company Chartered Accountants
Address :	165/1, Sarda Pally, Sector-2, Makhla, Hooghly – 712245, West Bengal, India
PAN No.:	AFNPP8149K
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	· Beijing Excon Equipment Private Limited · Dozco Lanka Finvest Private Limited
Associates:	· Dozco Infratech Private Limited [U71220WB2006PTC109476] · MGB Commercial Private Limited [U74950WB1993PTC060732] · Samsung Properties Private Limited [U70109WB1995PTC068174]
Other relate party:	· Om Prakash Bangur and Family (HUF)

CAPITAL STRUCTURE

After : 29.09.2017

Authorised Capital : INR 35.000 Million

Issued, Subscribed & Paid-up Capital : INR 32.988 Million

As on: 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	INR 10/- each	INR 35.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3235423	Equity Shares	INR 10/- each	INR 32.354 Million

FINANCIAL DATA

[all figures are in Rupees 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	32.354	32.354	32.354
(b) Reserves and Surplus	1308.912	1261.844	1220.514
(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)	1341.266	1294.198	1252.868
(3) Non-Current Liabilities
(a) long-term borrowings	333.871	385.314	219.916
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	0.109	0.219	0.192
(d) long-term provisions	0.349	0.365	0.365
Total Non-current Liabilities (3)	334.329	385.898	220.473
(4) Current Liabilities
(a) Short-term borrowings	1184.281	1010.057	921.502
(b) Trade payables	188.347	284.935	253.164
(c) Other current liabilities	110.871	72.061	94.723
(d) Short-term provisions	0.000	0.000	7.795
Total Current Liabilities (4)	1483.499	1367.053	1277.184
TOTAL	3159.094	3047.149	2750.525
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	583.574	571.392	606.200
(ii) Intangible Assets	0.551	0.551	0.551
(iii) Tangible assets capital work-in-progress	5.535	2.028	4.426
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	41.438	40.438	40.154
(c) Deferred tax assets (net)	14.547	8.159	4.642
(d) Long-term loans and advances	22.107	18.310	36.594
(e) Other Non-current assets	29.017	26.287	18.847
Total Non-Current Assets	696.769	667.165	711.414
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1906.928	1840.406	1589.721
(c) Trade receivables	437.543	384.294	345.774
(d) Cash and bank balances	7.395	16.689	6.053
(e) Short-term loans and advances	59.792	75.865	41.852
(f) Other current assets	50.667	62.730	55.711
Total Current Assets	2462.325	2379.984	2039.111
TOTAL	3159.094	3047.149	2750.525

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	2051.168	1758.686	1617.918
	Other Income	29.316	11.046	6.887
	TOTAL	2080.484	1769.732	1624.805
Less	EXPENSES
	Cost of Materials Consumed	298.944	198.969	133.666
	Purchases of Stock-in-Trade	868.852	928.337	920.191
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(75.579)	(214.984)	(129.803)
	Employee benefit expense	216.932	188.599	171.967
	CSR expenditure	0.018	0.000	0.000
	Other expenses	442.429	334.605	285.723
	TOTAL	1751.596	1435.526	1381.744
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	328.888	334.206	243.061
Less	FINANCIAL EXPENSES	165.338	194.045	111.439
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	163.550	140.161	131.622
Less/ Add	DEPRECIATION/ AMORTISATION	93.234	78.416	67.919
	PROFIT/ (LOSS) BEFORE TAX	70.316	61.745	63.703
Less	TAX	23.248	20.415	20.668
	PROFIT/ (LOSS) AFTER TAX	47.068	41.330	43.035
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	72.921	51.591	56.351
Less	APPROPRIATIONS
	Transfer to General Reserve	30.000	20.000	40.000
	Proposed Dividend	0.000	0.000	6.471
	Dividend Tax	0.000	0.000	1.324
	Total	30.000	20.000	47.795
	Balance Carried to the B/S	89.988	72.921	51.591
	EARNINGS IN FOREIGN CURRENCY
	FOB value of traded goods exported	13.535	20.566	17.396
	Earnings on other income	3.273	1.295	6.065
	TOTAL EARNINGS	16.808	21.861	23.461
	IMPORTS
	Raw Materials	905.422	960.129	783.963
	TOTAL IMPORTS	905.422	960.129	783.963
	Earnings / (Loss) Per Share (INR)	15.00	12.00	13.00

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
Net cash flows from (used in) operations	92.021	(66.642)	(61.932)
Net cash flows from (used in) operating activities	122.284	(41.245)	(35.970)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	77.86	79.76	78.01
Account Receivables Turnover (Income / Sundry Debtors)	4.69	4.58	4.68
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	58.87	92.26	87.68
Inventory Turnover (Operating Income / Inventories)	0.17	0.18	0.15
Asset Turnover (Operating Income / Net Fixed Assets)	0.56	0.58	0.40

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.58	0.58	0.54
Debt Equity Ratio (Total Liability / Networth)	1.13	1.08	0.91
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.11	1.06	1.02
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.44	0.44	0.49
Interest Coverage Ratio (PBIT / Financial Charges)	1.99	1.72	2.18

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	2.29	2.35	2.66
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.49	1.36	1.56
Return on Investment (ROI) ((PAT / Networth) * 100)	%	3.51	3.19	3.43

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.66	1.74	1.60
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.37	0.39	0.35
G-Score Ratio Financial (Networth / Total Assets)	0.42	0.42	0.46
G-Score Ratio Debt (Debts / Equity Capital)	46.92	43.13	35.28
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.66	1.74	1.60

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	32.354	32.354	32.354
Reserves & Surplus	1220.514	1261.844	1308.912
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1252.868	1294.198	1341.266
long-term borrowings	219.916	385.314	333.871
Short term borrowings	921.502	1010.057	1184.281
Total borrowings	1141.418	1395.371	1518.152
Debt/Equity ratio	0.911	1.078	1.132

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	1617.918	1758.686	2051.168
		8.701	16.631

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	1617.918	1758.686	2051.168
Profit	43.035	41.330	47.068
	2.66%	2.35%	2.29%

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	32.354	32.354	32.354
(b) Reserves and Surplus	1318.402	1275.341	1234.543
(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)	1350.756	1307.695	1266.897
(3) Non-Current Liabilities
(a) long-term borrowings	333.871	385.315	219.916
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	0.109	0.219	0.192
(d) long-term provisions	0.349	0.365	0.365
Total Non-current Liabilities (3)	334.329	385.899	220.473
(4) Current Liabilities
(a) Short-term borrowings	1184.281	1010.057	921.502
(b) Trade payables	190.886	287.290	253.453
(c) Other current liabilities	109.807	73.025	95.977
(d) Short-term provisions	0.000	0.000	7.795
Total Current Liabilities (4)	1484.974	1370.372	1278.727
TOTAL	3170.059	3063.966	2766.097
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	583.581	571.424	606.220
(ii) Intangible Assets	0.551	0.551	0.551
(iii) Tangible assets capital work-in-progress	5.536	2.028	4.426
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	6.504	5.486	5.267
(c) Deferred tax assets (net)	14.547	8.159	4.642
(d) Long-term loans and advances	30.323	21.226	42.499
(e) Other Non-current assets	29.017	26.288	18.847
Total Non-Current Assets	670.059	635.162	682.452
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1907.379	1840.406	1589.721
(c) Trade receivables	439.255	427.326	378.244
(d) Cash and bank balances	42.944	22.477	18.117
(e) Short-term loans and advances	59.754	75.865	41.852
(f) Other current assets	50.667	62.730	55.711
Total Current Assets	2499.999	2428.804	2083.645
TOTAL	3170.058	3063.966	2766.097

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	2051.168	1758.686	1617.918
	Other Income	50.113	31.131	50.093
	TOTAL	2101.281	1789.817	1668.011
Less	EXPENSES
	Cost of Materials Consumed	298.944	198.969	133.666
	Purchases of Stock-in-Trade	883.018	942.654	955.423
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(75.580)	(214.984)	(129.803)
	Employee benefit expense	216.932	159.001	136.875
	Other expenses	450.676	371.947	328.750
	TOTAL	1773.990	1457.587	1424.911
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	327.291	332.230	243.100
Less	FINANCIAL EXPENSES	163.626	193.700	111.427
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	163.665	138.530	131.673
Less/ Add	DEPRECIATION/ AMORTISATION	93.234	78.416	67.919
	PROFIT/ (LOSS) BEFORE TAX	70.431	60.114	63.754
Less	TAX	23.287	20.415	20.668
	PROFIT/ (LOSS) AFTER TAX	47.144	39.699	43.086
	Earnings / (Loss) Per Share (INR)	15.00	12.00	13.00

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	No
8	Designation of contact person	No
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	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

PERFORMANCE OF THE COMPANY:

During the year, the revenue from operations increased by 16.63% at INR 2050.000 Million from INR 1760.000 Million in the previous year. The prudent operating discipline adopted through improvement in inventory and cost control measures helped in reducing the operational expenses and finance cost and in spite of higher depreciation by 18.87% over previous year the company recorded an increase in EBIT at INR 70.300 Million compared to INR 61.700 Million in the previous year, an increase of INR 8.600 Million (13.9% in real terms).

BUSINESS OPERATIONS AND FUTURE OUTLOOK

Driving and sustaining operational and business excellence continued to be the focus of the year and the Directors plan to build further on this platform to raise the levels of excellence. The overall performance of the company during the year under review was sustainable. The manufacturing unit of the Company is functioning satisfactorily and contributed around 38.38% of the total revenue from operations, which demonstrate the growing market acceptance of company’s own branded products. Keeping to the ‘Make in India’ philosophy, the company is continuing with its focus by enlarging the base and scope in manufacturing activity as well as on expansion both in range and scope by entering into new tie ups for sales and distributions of new equipment and spares with high brand value. Presently, the own branded products include wide range of Rock Breakers suitable for 1T to 80 Ton Excavators, Track Chain for different earth moving machineries besides components like Chisels, Track Guards, Buckets etc. The Company has also started exploring in the field of marketing complete assemblies of Light Tower Equipment for onsite use. Besides its own sales outfit numbering 32 spread over in the entire country, the company is now developing a Dealer network for its own products for better penetration in the market.

The Company is now fully operational leaving behind the sad memory of HUDHUD Cyclonic Storm that had damaged the company’s asset heavily during October 2014. During the year the management system of Company’s manufacturing unit situated at Plot No. 90/91, Block ‘G’, Industrial Development Park, Auto Nagar, Vizag, AP has been certified by DNV-GL accredited by UKAS as conforming to ISO 9001:2015. The improved industrial scenario with greater focus on Mining and Infrastructure development in the country backed by prompt and positive decision by government agencies provides impetus for brighter days ahead.

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)
Long-term Borrowings
Intercorporate borrowings	44.225
Loans and advances from directors	84.512
Foreign currency term loans from banks	40.361
Short-term borrowings
Intercorporate borrowings	199.909
Total	369.007

PARTICULARS	31.03.2016 (INR in Million)
Long-term Borrowings
Intercorporate borrowings	44.225
Loans and advances from directors	76.215
Short-term borrowings
Intercorporate borrowings	149.661
Total	270.101

INDEX OF CAHREGS:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G78017274	100157144	SIDBI	23/02/2018	-	-	195500000.0	D.NO.50-50-33/3, II FLOOR J.R.PLAZA, NEAR GURUDWARA, SEETHAMMADHARA VISAKHAPATNAM-530013 ANDHRA PRADESH INDIA
2	G77911998	100156889	IndusInd Bank	09/11/2017	-	-	6791740.0	2401, GENERAL THIMMAYA ROAD CANTONMENT PUNE-411001 MAHARASHTRA INDIA
3	G70527676	100140727	INDIABULLS COMMERCIAL CREDIT LIMITED	04/11/2017	-	-	41000000.0	M - 62 & 63FIRST FLOOR, CONNAUGHT PLACE NEW DELHI-110001 INDIA
4	G51806685	100119243	Axis Bank Limited	10/08/2017	-	-	646000.0	"TRISHUL', 3RD FLOOR, OPPOSITE TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGE AHMEDABAD-380006
5	G50080654	100114931	TATA CAPITAL FINANCIAL SERVICES LIMITED	26/07/2017	-	-	25000000.0	ONE FORBES,DR. V. B. GANDHI MARG, FORT, MUMBAI-400001 MAHARASHTRA INDIA
6	G60332194	100131567	Indusind Bank	02/06/2017	-	-	7446000.0	M.G. ROADNEAR BENZ CIRCLE VIJAYAWADA-520010 ANDHRA PRADESH INDIA
7	G60339009	100131577	IndusInd Bank	02/06/2017	-	-	2482000.0	M.G. ROADNEAR BENZ CIRCLE VIJAYAWADA-520010 ANDHRA PRADESH INDIA
8	G41577099	100091697	Axis Bank Limited	06/04/2017	-	-	500000.0	"TRISHUL', 3RD FLOOR, OPPOSITE TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGE AHMEDABAD-380006
9	G35923267	100077348	Canara Bank	28/12/2016	-	-	650000.0	PARK STREET BRANCH KOLKATA-700001 WEST BENGAL INDIA
10	G07557085	100038713	Axis Bank Limited	04/07/2016	-	-	568000.0	"TRISHUL', 3RD FLOOR, OPPOSITE TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGE AHMEDABAD-380006 GUJARAT INDIA

FIXED ASSETS:

· Land

· Buildings

· Office building

· Factory building

· Other building

· Plant and equipment

· Factory equipment’s

· Other pollution reduction equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipment’s

· Other equipment’s

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 79.59
Euro	1	INR 90.45

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	NYT
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.