MIRA INFORM REPORT

Report No. :	510217
Report Date :	21.05.2018

IDENTIFICATION DETAILS

Name :	G.K. WINDING WIRES LIMITED
Formerly Known As :	G. K. WINDING WIRES PRIVATE LIMITED
Registered Office :	23, Radhe Purikrishna Nagar, Delhi-110051
Tel. No.:	91-120-2560201 / 214 / 468
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	28.10.1985
Com. Reg. No.:	20-022363
Capital Investment / Paid-up Capital :	INR 49.705 Million
CIN No.: [Company Identification No.]	U74899DL1985PLC022363
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACG0177D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacture of other electronic and electronic wires and cables. [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

Status :	Good
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1985. It is a manufacturer of copper and aluminum winding wires. It sells its products under the brand name of Geekay. As per the financial records of 2017, the company has achieved a fair growth of 7.54% in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 3.88%. The company possesses healthy financial position marked by above average net worth base along with low debt balance sheet profile and satisfactory liquidity position. Rating takes into consideration the company’s long established track record. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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	CRISIL
Rating	Long Term Loans = BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	07.02.2018
Rating Agency Name	CRISIL
Rating	Short Term Loans = A2
Rating Explanation	Strong degree of safety and low credit risk.
Date	07.02.2018

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 31-03-2018.

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 21.05.2018

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 DENIED BY

Name :	Mr. Pankaj Goel
Designation :	Marketing Manager
Contact No.:	91-9540601300
Date :	18.05.2018

LOCATIONS

Registered Office :	23, Radhe Purikrishna Nagar, Delhi-110051, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	finance@gkwinding.com info@gkwinding.com
Website :	www.gkwinding.com
Corporate Office :	B-20 and D-15, Site – C, UPSIDC Industrial Area, Surajpur, Greater Noida – 201306, Uttar Pradesh, India
Tel. No.:	91-120-2560201 / 214 / 468
Fax No.:	91-120-2560203
Factory :	Shop No. 2,1-J/38, N.I.T., Faridabad – 121001, Haryana, India

DIRECTORS

AS ON 31.03.2018

Name :

Mr. Sameer Agarwal

Designation :

Managing Director

Address :

D-257, Sector-47, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

22.08.1979

Qualification :

B. tech, MBA

Date of Appointment :

24.08.2006

PAN No.:

AGNPA1126C

DIN No.:

00117027

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL1990PTC042309	MAHARANI PRODUCTS PRIVATE LIMITED	16/04/2010	-

Name :

Mr. Sudhir Kumar Agarwal

Designation :

Whole Time Director

Address :

D-257, Sector-47, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

01.12.1947

Qualification :

B. E. (Mechanical)

Date of Appointment :

29.03.2011

PAN No.:

AADPA2817L

DIN No.:

00117005

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL1990PTC042309	MAHARANI PRODUCTS PRIVATE LIMITED	16/04/2010	-
U19201DL1997PTC090331	UNISOL INDIA PRIVATE LIMITED	21/10/1997	-
U31300MH1973GAP016998	WINDING WIRES MANUFACTURERS ASSOCIATION OF INDIA	29/09/2004	-
U17303DL2005PLC134427	PIONEER POLYLEATHERS LIMITED	21/12/2015	-
U45400DL2009PTC188925	SYSTEMATIC INFRADEVELOPERS PRIVATE LIMITED	27/03/2009	-
U45400DL2009PTC188928	CLASSIC CONSTRUCTION MATERIAL & EQUIPMENTS PRIVATE LIMITED	27/03/2009	-

Name :

Ms. Neelam Agarwal

Designation :

Director

Address :

F-27, Sector-41, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

12.01.1952

Qualification :

Graduate

Date of Appointment :

23.11.2002

DIN No.:

00116987

Name :

Mr. Vijai Kapur

Designation :

Director

Address :

House No. 407, Sector 15-A, Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

03.10.1957

Qualification :

B. Tech, MBA

Date of Appointment :

20.08.2014

PAN No.:

AEFPK6652R

DIN No.:

01207841

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51505DL1995PTC070315	STANCHART IMPEX PRIVATE LIMITED	27/01/1999	-
U17303DL2005PLC134427	PIONEER POLYLEATHERS LIMITED	15/09/2015	-
U31905DL2017PTC318848	PIONEER LIGHTING & APPLIANCES PRIVATE LIMITED	07/06/2017	-

Name :

Mr. Apar Sureka

Designation :

Director

Address :

54-B, Sainik Farms, New Delhi-110062, India

Date of Birth/Age :

26.07.1978

Qualification :

B. Tech, MBA

Date of Appointment :

20.08.2014

PAN No.:

AOHPS0516A

DIN No.:

03555479

Name :

Ms. Priti Agarwal

Designation :

Director

Address :

H.N. D-257, Sector-47, Gautm Budh Nagar-201301, Uttar Pradesh, India

Date of Birth/Age :

03.03.1982

Qualification :

Bachelor of Economics (Hon.), MBA

Date of Appointment :

01.11.2013

PAN No.:

AZRPS9178D

DIN No.:

06732193

Name :

Ms. Nidhi Singhal

Designation :

Director

Address :

E-28, Sector-41, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

12.02.1976

Qualification :

Graduate, MBA

Date of Appointment :

20.08.2014

PAN No.:

AACPA3348M

DIN No.:

06732220

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72900DL2016PTC291008	RADHIKA INFOSOFT SOLUTIONS PRIVATE LIMITED	01/08/2016	-

Name :

Mr. Naman Jain

Designation :

Director

Address :

GF-1/101, Jaipuria Enclave, Kaushambi, Ghaziaba – 201010, Uttar Pradesh, India

Date of Birth/Age :

21.01.1978

Qualification :

B. Tech

Date of Appointment :

20.08.2014

PAN No.:

ADSPJ6229K

DIN No.:

07048277

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Sudhir Agarwal	4170300
Sameer Agarwal	665550
Neelam Agarwal	80130
Nidhi Singhal	6999
Sudhir Agarwal HUF	46500
Priti Agarwal	1000
Rajat Singhal	1
Total	4970480

AS ON 17.06.2017

Equity Share Break up	Percentage
Category
Promoters - Individual/Hindu Undivided Family – Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of other electronic and electronic wires and cables. [Registered Activity]

Products / Services :

NIC Code No.	Product Description
2732	Manufacture of other electronic and electronic wires and cables

Brand Names :

“Geekay”

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 :

Bank Name	YES Bank Limited
Branch	9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, 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)	--

• Indusind Bank Limited, Dr. Gopal Das Building 28, Barakhamba Road, New Delhi-110001, India

• Axis Bank Limited, B-2 , B-3, Sector 16, Noida-201301, Uttar Pradesh, India

Facilities :

SECURED LOANS	31.03.2017 INR In Million	31.03.2016 INR In Million
LONG TERM BORROWINGS
Rupee term loans from banks	19.747	0.000
SHORT TERM BORROWINGS
Working capital loans from banks	105.707	54.699
Total	125.454	54.699

Auditors :
Name :	Ravi and Associates Chartered Accountants
Address :	L-42, Lajpat Nagar-II, New Delhi-110024, India
PAN No.:	AAAFR9032P
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Swastik Wire Products, India · GK Enterprises Private Limited, India [CIN No.: U74899DL1991PTC045971] · The Catalysts, India

CAPITAL STRUCTURE

AS ON 17.06.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
6100000	Equity Shares	INR 10/- each	INR 61.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4970480	Equity Shares	INR 10/- each	INR 49.705 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	49.705	49.705	49.705
(b) Reserves and Surplus	457.022	382.298	339.494
(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)	506.727	432.003	389.199
(3) Non-Current Liabilities
(a) long-term borrowings	19.747	0.000	0.000
(b) Deferred tax liabilities (Net)	4.511	6.068	2.158
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	24.258	6.068	2.158
(4) Current Liabilities
(a) Short-term borrowings	105.707	54.699	70.967
(b) Trade payables	69.341	52.944	7.382
(c) Other current liabilities	19.726	7.758	75.212
(d) Short-term provisions	51.475	72.307	41.494
Total Current Liabilities (4)	246.249	187.708	195.055
TOTAL	777.234	625.779	586.412
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	229.397	169.343	175.974
(ii) Intangible Assets	3.443	3.719	2.231
(iii) Tangible assets capital work-in-progress	1.523	0.000	2.411
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	234.363	173.062	180.616
(2) Current assets
(a) Current investments	0.027	0.026	0.026
(b) Inventories	79.438	86.176	67.602
(c) Trade receivables	359.099	257.403	254.859
(d) Cash and bank balances	35.017	12.477	18.329
(e) Short-term loans and advances	69.290	96.635	64.980
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	542.871	452.717	405.796
TOTAL	777.234	625.779	586.412

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	2079.396	1933.542	2039.218
	Other Income	4.729	3.567	4.289
	TOTAL	2084.125	1937.109	2043.507
Less	EXPENSES
	Cost of Materials Consumed	1744.422	1632.426	1750.275
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3.651)	3.499	(1.492)
	Employee benefit expense	44.954	41.735	34.006
	CSR expenditure	1.693	1.600	1.420
	Exceptional items before tax	(0.495)	(0.293)	0.194
	Other expenses	127.360	125.547	114.515
	TOTAL	1914.283	1804.514	1898.918
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	169.842	132.595	144.589
Less	FINANCIAL EXPENSES	10.728	11.311	22.135
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	159.114	121.284	122.454
Less	DEPRECIATION/ AMORTISATION	32.521	30.006	30.414
	PROFIT/ (LOSS) BEFORE TAX	126.593	91.278	92.040
Less	TAX	45.887	36.508	23.576
	PROFIT/ (LOSS) AFTER TAX	80.706	54.770	68.464
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	377.080	334.275	271.794
Less	APPROPRIATIONS
	Interim equity dividend	4.970	9.941	4.970
	Equity dividend tax	1.012	2.024	1.013
	Total	5.982	11.965	5.983
	Balance Carried to the B/S	451.804	377.080	334.275
	IMPORTS
	Raw Materials	297.906	130.636	0.000
	Components and spare parts	1.273	3.802	0.000
	Capital Goods	35.239	6.234	0.000
	TOTAL IMPORTS	334.418	140.671	0.000
	Earnings / (Loss) Per Share (INR)	16.24	11.02	13.77

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	8.004	0.000	4.576
Net cash flows from (used in) operations	122.097	98.145	117.606
Net cash flows from (used in) operating activities	57.092	58.267	84.122

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365)	63.03	48.59	45.62
Account Receivables Turnover (Income / Sunday Debtors)	5.79	7.51	8.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	14.51	11.84	1.54
Inventory Turnover (Operating Income / Inventories)	2.14	1.54	2.14
Asset Turnover (Operating Income / Net Fixed Assets)	0.72	0.77	0.80

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.35	0.30	0.34
Debt Equity Ratio (Total Liability / Networth)	0.26	0.13	0.19
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.49	0.43	0.50
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.46	0.40	0.46
Interest Coverage Ratio (PBIT / Financial Charges)	15.83	11.72	6.53

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	3.88	2.83	3.36
Return on Total Assets ((PAT / Total Assets) * 100)	%	10.38	8.75	11.68
Return on Investment (ROI) ((PAT / Networth) * 100)	%	15.93	12.68	17.59

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.20	2.41	2.08
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.88	1.95	1.73
G-Score Ratio Financial (Networth / Total Assets)	0.65	0.69	0.66
G-Score Ratio Debt (Debts / Equity Capital)	2.69	1.10	1.52
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.20	2.41	2.08

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	49.705	49.705	49.705
Reserves & Surplus	339.494	382.298	457.022
Net worth	389.199	432.003	506.727
Long-term borrowings	0.000	0.000	19.747
Short term borrowings	70.967	54.699	105.707
Current maturities of long-term debts	4.576	0.000	8.004
Total borrowings	75.543	54.699	133.458
Debt/Equity ratio	0.194	0.127	0.263

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	2039.218	1933.542	2079.396
		(5.182)	7.543

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	2039.218	1933.542	2079.396
Profit/ (Loss)	68.464	54.770	80.706
	3.36%	2.83%	3.88%

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	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 CHARGE:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G87241907	100137007	YES BANK LIMITED	01/11/2017	13/04/2018	-	50000000.0	9TH, FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN
2	G87241162	100137006	YES BANK LIMITED	01/11/2017	13/04/2018	-	150000000.0	9TH, FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN
3	G85192433	100054677	AXIS BANK LIMITED	19/09/2016	13/04/2018	-	470000000.0	B2-B3,SECTOR-16,NOIDA UP201301IN
4	G80864853	100092420	INDUSIND BANK LTD.	06/04/2017	-	23/03/2018	50000000.0	DR. GOPAL DAS BUILDING28, BARAKHAMBA ROADNEW DELHIDL110001IN
5	G80865314	10518334	INDUSIND BANK LTD.	06/08/2014	08/02/2017	23/03/2018	50000000.0	DR. GOPAL DAS BUILDING28, BARAKHAMBA ROADNEW DELHIDL110001IN
6	G04170163	10374150	L & T FINANCE LIMITED	04/09/2012	-	11/05/2016	28000000.0	L&T HOUSE,BALLARD ESTATE,MUMBAIMH400001IN
7	C38373429	10175550	CTBC BANK CO. LTD.	27/07/2009	31/07/2014	09/12/2014	130000000.0	RAJIV CHOWK,A1/16, WENGER HOUSE,NEW DELHIDL110001IN
8	A89004352	80059384	U P FINANCIAL CORPORATION	30/04/1991	-	13/07/2010	965000.0	CIVILLINESKANPURUP208001IN
9	A68347608	90045790	PUNJAB NATIONAL BANK	25/05/1991	21/02/1998	05/08/2009	1200000.0	NEHRU PLACENEW DELHIDLIN
10	A68347939	90046004	PUNJAB NATIONAL BANK	02/07/1993	29/09/1995	05/08/2009	5000000.0	NEHRU PLACENEW DELHIDLIN

CONTINGENT LIABILITIES:

(INR in million)

PARTICULARS	31.03.2017	31.03.2016
Guarantees	13.011	10.000
Total	13.011	10.000

FIXED ASSETS:

Tangible Asset:

· Land

· Building

· Plant and equipment

· Office equipment

· Furniture and Fixture

· Computer

· Vehicles

Intangible Asset:

· Goodwill

· Computer software

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 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.28

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	NYT
Report Prepared by :	NKT

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.