Credit Approval Memo

CAM No : 78215

CAM Type : Retail

Product(Equik/Requik) Equik
Sector MINING
Sub-Sector Other Mining
Sub– Sector Code MO

Date: 2018/07/30
Region: Madhya Pradesh-Region
Branch: Gwaliwar
Geographic Category: G3
Dealing Executive/SEP: Vinay Jha-1811104217 /
Collection Officer: Vinay Jha-1811104217

General Details::

Customer Name M/s Shri Siddhi Vinayak Stone and Crusher

(partnership firm)
Customer Tel. No. With STD Code 9425337213
Customer Address with Police Station 15 Tagore Nagar University Road
Age 7 months (Incorporated in 12.01.2018)
SREI Existing Customer No
Customer Classification SME
Constitution (For Business) Registered Partnership
CIBIL Score 0
Experian Score N.A.
Equifax Score N.A.
CRIF Score N.A.
Score Comments CIBIL Score: N.A Experian Score: N.A Equifax Score:
N.A CRIF Score: N.A
Category Of Customer Non - First Time User
Class Of Contractor Sub-Contractor/ Transporter/ Hirer
Risk Category Low
Risk Category Of Customer C
Risk Category Of Customer (User) C
Distance from SREI office in Kms 01 km from Gwalior Branch
Residence FI: Not Performed
Residence Stability 4-5 years
Residence Status Fully Owned
Negative Area No
PSL Category Non PSL
Risk Grade RSME 5/ FR 4/ TR 6
RBI Risk Category N.A.
Fleet Size 5-6 CME Assets
Credit Rating Agency N.A.
Credit Enhancement 1 N.A.
Credit Enhancement 2 N.A.
Length Of Association With Predominant Principal N.A.
Agree With Ratings N
Asset Experience >12 months
Office FI 117501
Observations/ Comments on FI 80% match. Positive
Internal FI Number 117501/ 116589/116348/116110/116157/116248/116130
Internal FI Decision Applicant Firm: Shri Siddhivinayak 117501: 80% match
Guarantor: 116589 (Abhishek Jain): 80% match
116348 (Atul Gupta): 90% match
116110 (Bharti Yadav): Pin code match
116157 (Raj kumar Khandelwal): 90% match
116248 (Ram Sevak Singh): 20% match
116130 (Sanjay Jain): 0% match
(FI is conducted by RM; Cross checked the same with lat long
website found positive and nearby location; visit of RM is also
confirmed during TVR)
Caution Profile Other
TVR Decision Positive
TVR Comments Positive

Related Party Details::

Name SANJAY JAIN

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. House Number CL 34 Deen Dayal Nagar Maharajpura,
Gwalior, Madhya Pradesh, 474020
RelationShip With Applicant Partner
Age 44 Years
CIBIL Score 797 Points
Experian Score N.A.
Equifax Score N.A.
CRIF Score N.A.
Score Comments 797 Points, Cibil report shows total 7 accounts with Nil
OD and 4 zero balance accounts
- Observed auto loan in individual capacity with
“STD” status as per cibil report
- Observed housing loan of Rs. 3.75 lacs in joint
capacity which is closed in 16.04.2015 with 83 days
of DPD as per report

Name RAM SEWAK SINGH

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. Bhind road Prabhu Dham Mandir Gram Girgaon,
Gwalior, Madhya Pradesh, 474020
RelationShip With Applicant Partner
Age 43 Years
CIBIL Score 701 Points
Experian Score N.A.
Equifax Score N.A.
CRIF Score N.A.
Score Comments Cibil report shows total 03 accounts with 01 OD
 (amounting Rs. 5820/-) and 01 Zero balance account
- Observed OD of Rs. 5820/- in auto loan of Rs. 3.60
lacs in individual capacity which is opened in
06.10.2017 with “STD” status as per report

Name ATUL GUPTA

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. 31M/38 Mitra Puram Kahraee Mod Shamshabad Road,
Agra, Uttar Pradesh, 282001
RelationShip With Applicant Partner
Age 27 years
CIBIL Score 694 Points
Experian Score N.A.
Equifax Score N.A
CRIF Score N.A.
Score Comments 694 Points, Cibil report shows total 2 account with Nil OD
and Zero balance accounts
- Observed Auto loan and Credit card in individual
capacity with no delinquency as per report

Name BHARTI YADAV

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. 19 Janak Samiti Vinay Nagar Sec 2,Gwalior,Madhya
Pradesh, 474012
RelationShip With Applicant Partner
Age 41 years
CIBIL Score -1 Points
Experian Score N.A.
Equifax Score N.A.
CRIF Score N.A.
Score Comments -1 Points (Insufficient credit history to score)

Name Raj Kumar Khandelwal

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. A-74, Govindpuri, University Road, Thatipur, City Centre,
Gwalior (M.P.), Gwalior, Madhya Pradesh, 474011
RelationShip With Applicant Partner
Age 42 Years
CIBIL Score 779 Points
Experian Score N.A
Equifax Score N.A
CRIF Score N.A
Score Comments 779 Points, Cibil report shows total 3 accounts with Nil
OD and 01 Zero balance accounts
- Observed CE loan, Auto loan in individual
capacity in individual capacity with no
delinquency as per report

Name Brijmohan Mangal

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. A-81/2, Govindpuri, City Centre, Gwalior, Madhya
Pradesh, 474001
RelationShip With Applicant Partner
Age 29 years
CIBIL Score 687 Points
Experian Score N.A.
Equifax Score N.A.
CRIF Score N.A.
Score Comments 687 points, Cibil report shows total 14 accounts with 01
OD (amounting 152/-) & 02 Zero balance accounts
- Observed OD of Rs. 152/- in CE loan of Rs. 20.85
lacs in joint capacity with DPD of 9 days
- Observed various CE loan and auto loan in Joint
capacity with no delinquency as per report

Name ABHISHEK JAIN

Party Type(Guarantor/Co-applicant/Director/Partner etc) Guarantor
Guarantor Address and Tel. No. Flat No 501 Saugat App Govisaugat aptt, Gwalior,
Madhya Pradesh, 474002
RelationShip With Applicant Partner
Age 41 years
CIBIL Score 613 Points
Experian Score N.A.
Equifax Score N.A.
CRIF Score N.A.
Score Comments 613 Points, Cibil report shows total 11 accounts with 02
OD (Amounting Rs. 14116/-) and 07 Zero balance
accounts
- OD of Rs. 13956/- in housing loan of Rs. 7.0 lacs in
joint capacity which is opened in 23.01.2003 with
60 days of DPD as per report
- OD of Rs, 160/- in Credit card in individual
capacity with 40 days of DPD as per report

A. Facility Required:

Proposed Asset Cost of Finance LTV Quantity Tenure IRR Moratorium Model Segment
Asset Amount
Liugong 836 wheel 3000000 2550000 85.0 1 36 10 60 null A2
loader
HYUNDAI 5250000 4462500 90.0 1 36 10 60 null A2
EXCAVATOR R 215
LC 7
PUZZOLANA 27250000 21800000 80.0 1 36 10 60 null A4
CRUSHING &
SCREENING PLANT
200 TPH 2 STAGE
ACE FX250 1350000 1147500 85.0 1 36 10 60 null A1
Total 36850000 29960000

B.(I) Customer’s Background:-

1. Nature of Work: M/s Shri Siddhi Vinayak Stone and Crusher is a partnership firm and going to install their proposed
new Puzzolana 200 TPH stone crusher unit at Gram Billoua Tehsil Dabra District Gwalior for manufacturing of Gritt and
supplying Griit and aggregates from Billoua to U.P under NH project and on the demand basis in the local market. They
have already acquired the lease hold land around 2.00 hectares on the name of his one partner Smt Bharti Yadav at Gram
Billoua vide survey no 3619/3 and already purchased around 1.246 Hecatres on the name of his firm, partner Mr Sanjay
Jain.

2. Business background: Applicant firm, M/s Shri Siddhi Vinayak Stone & Crusher is a partnership firm and formed at
12th Day of Jan 2018 and according to the deed there are seven partners in this firm and it is having its registered office at
15, Tagore Nagar, University Road, Gwalior. The partners belong to are different families. (PAN No: ADOFS8483N). Mr
Sanjay Jain (Stake 20%), Mr Raj Kumar Khandelwal (Stake 20%), Mr Ram Sewak Singh (stake 10%), Mr Brij Mohan
Mangal (stake 20%), Mr Abhishek Jain (stake 10%) and Mr Atul Gupta (Stake 10%) and Smt Bharti Yadav is having their
10% stake in this firm. They have acquired good lease land for mining around 2.00 hectares on the name of Smt Bharti
Yadav. They have recently purchased the land for the installation of proposed Puzzolana 200 TPH Plant at Gram Billoua
on the name of his partnership firm around 1.246 hectares and going to 90% completion of required Civil work and it will
be finish with in next 15 Days. They have already obtained the consent required from DEIAA for Enviornment and
pollution clearance for the same. Mr Brij Mohan Mangal (Prop Vaishnavi Suppliers), Mr Atul Gupta from Agra (Prop
Gupta Traders), Mr Abhishek Jain, MES Contractor, Mr Raj Kumar Khandelwal and Mr Sanjay Jain are an well
experienced Building material and Gritt Supplier. Mr Brij Mohan Mangal is having his proprietorship firm namely M/s
Vaishnavi Suppliers. He is having good relation with stone crusher owner and experience of running the stone crusher
ship on contractual basis along with operating facility of lease hold mines at Gram Billaua, Tehsil Dabra, District Gwalior.
Mr Brij Mohan Mangal owns 3 nos AL Mining Tippers and 03 Excavators (02 Hyundai R 215 & 01 Sany SY 210) on the
name of his Prop firm. He is having 01 SANY SY 210 recently free from HDFC Bank, Gwalior on the name of his Prop
firm for the tenure 23 months only. Mr Raj Kumar Khandelwal is an authorized signatory to get it signed.

3. Major Principals, with Name and Contact Details: They are having good scope of supplying Gritt from Billoua market
to Etawah, Agra and Mainpuri section under on-going NH & Railway Projects and on the demand basis to U.P. Market
and surrounding local area of Gwalior. Mr Brij Mohan Mangal is having their good supply of Gritt to AFCON
Infrastructure & Oriental Structural Engineering Pvt Ltd on demand basis and regular supply to District Agra & Bari,
District Dholpur. Mr Atul Gupta is also having good strength of supplying aggregates, he is based at Agra and having
their Prop firm M/s Gupta Traders. At present he is having work order from Sri Avantika Contractors P Ltd on their
Contract site at Shikohabad & Etah (U.P.) Contract Value Rs100Lacs. Mr Ram Sewak Singh is an experienced civil
contractor and suppliers, having their supplying work of aggregates on the name of M/s Maa Shitla Associates, having
their office at Vicky Factory, Jhansi Road, Gwalior. Mr Raj Kumar Khandelwal is also having good business relations with
the party at local level and having good supplying of Gritt at local market on the demand basis. He is having an
experienced of running the lease mines on the operating basis for supplying raw materials to the Crusher unit. Mr Sanjay
Jain is also having their good network at Bhind area for the supplying of Gritt from their proposed Crusher Unit. He is
already acquired good leasehold quarry mines on the name of his wife Smt Manjula Jain around 02 Hectares at Gram
Billoua for supplying Boulders and raw material for crushing purpose.

4. Construction Equipments / Commercial Vehicles owned by Guarantor: Yes

5. Deployment details of the proposed asset: Proposed Puzzolana 200 TPH Stone Crusher unit will be installed at Gram
Billoua, Tehsil Dabra, District Gwalior and along with plant they have proposed for 01 Liugong Wheel Loader 835, 01
Hyundai R 215 & 01 ACE 14XW Hydra Crane for their proposed new stone crusher unit. They have already applied for
Electric Power Supply Connection for the same. The proposed Wheel Loader will also be deployed for shifting the
boulders and for loading Griit into the supplying vehicles.:

(ii) Management/Ownership:

Name of Stakeholder %Holding Relationship

Smt Bharti Yadav 10.00 Partner
Mr Sanjay Jain 20.00 Partner
Mr Brij Mohan Mangal 20.00 Partner
Mr Raj Kumar Khandelwal 20.00 Partner
Mr Abhishek Jain 10.00 Partner
Mr Ram Sewak Singh 10.00 Partner
Mr Atul Gupta 10.00 Partner

C. List of Construction Equipments / Commercial Vehicles Owned by Proposed Hirer: (Hirer/Guarantor)

Equipment Model Year of Invoice/Registration Name of Free/Fin Name of Present Asset

Type No Manufacture Number Owner(Relat ance Financier Value of DeployedAt
ion with Equipment
hirer)
CE SANY 2016 N.A Vaishnavi Free 3200000.00 Gram Billoua
SY 210 Suppliers
C-9
CE AL 2523 2017 RJ11GB Vaishnavi Financed HINDUJA 2400000.00 Gram Billoua
 FBT Suppliers Leyland
Tipper
CE Hyundai 2018 N.A Vaishnavi Financed INDUSIND 5000000.00 Gram Billoua
R 215 Suppliers Bank
LC-7
CE Fine 23 2012 N.A RRS Free 800000.00 Gram Billoua
X Plus Construction
Co
CE Fine 23 2014 N.A RRS Free 1000000.00 Gram Billoua
X Plus Construction
RB Co
CE Hyundai 2018 N.A Vaishnavi Financed HDFC Bank 5000000.00 Gram Billoua
R 215 Suppliers
LC -7
CE INdus 2018 N.A Vaishnavi Financed Indusind 1150000.00 Gram Billoua
SAGA Suppliers Bank
RB
CE Volvo EC 2012 n.a RRS Free 3500000.00 Gram Billoua
210 B Construction
Prime Co
CE Tata LPK 2017 RJ11GB1812 Vaishnavi Financed ICICI Bank 2600000.00 Gram Billoua
2523 Suppliers
CE Volvo EC 2014 N.A RRS Free 3800000.00 Gram Billoua
210 B Construction
prime Co

D. Existing Exposure with SREI (Applicable for Client and Guarantor, which ever is applicable):

Name of Assets Contract Year Cost of Amt POS as on Outstanding as SREI Grid
Owner of Funded Number Asset(In Financed(In date(In lacs) on date(In lacs) Value
Asset lacs) lacs)

       I.Trade References:

Name of the Phone No. Details of References Relationship Reference Remarks (if any)
Person Check
Awatar Singh 9425308529 Automobiles Business BUSINESS Positive
Natt RELATION
Ashok Singh 7415285025 CIVIL CONTRACTOR & Business Relation Positive
Tomar SUPPLIERS

E. Repayment Track record Details (Hirer/Guarantor):

Name of Equipment Period No of Current Average Peak EMI Amt(In Repayment SREI
finance taken of Installments POS(In Delay Delay lacs) Track
company finance paid lacs) (last 1 (last 1
year)(In year)(In
lacs) lacs)
INDUSIND AL 2523 48 47 3626828.00 91546.00 Excellent
BANK FBT Tipper
HDFC Hyundai R 24 23 3773688.00 227674.00 Excellent
Bank 215 LC-7
ICICI Bank Tata LPK 36 34 2096194.00 102492.00 Excellent
2523
INDUSIND Hyundai R 48 47 5330953.00 119100.00 Excellent
BANK 215
Indusind Volvo EC 24 23 0.00 212650.00 Excellent
Bank 210 B Prime
2012
HDFC INDUS Rock 24 23 759264.00 46282.00 Excellent
Bank Breaker
Indusind Volvo EC 24 23 0.00 143350.00 Excellent
Bank 210 B
PRime 2014
Indusind Volvo EC 24 23 0.00 227650.00 Excellent
Bank 210 B Prime
2014
HDFC SANY SY 24 23 0.00 154761.00 Excellent
Bank 210
Hinduja AL 2523 36 36 2917569.00 108058.00 Excellent
Leyland FBT

ALG

Viability Calculation

Tentative viability details

Particulars Amount/ Nos  
Installed capacity - Ton 200
No of hrs/ day 10
No of days/ month 25
Total production/ month 50000
Estimated production at 70% capacity 35000 70% capacity utilisation
Average selling price/ Ton 350(#)  
Monthly Revenue (A) 12250000  
 
Plant operating expenses/ Ton (*) 40
Royalty/ Ton 30
Blasting, Mining, Feeding & Transportation/ Ton 40
Administrative expenses 20
Miscellaneous/ Ton 10  
Total Operating expenses/ Ton 150  
Total Operating expenses (B) 7350000 60.00% of Gross Revenue
Free Cash Flow (A) - (B) 4900000  
Calculated @ 80% LTV, 10.0%
Less : EMI liability 525000
IRR & 36 EMI's
Net margin/ Ton/ Month 4375000 35.71 % of Gross Revenue

Fixed Obligation to Income Ratio (FIOR)

FIOR Result: FIOR: >1

FFR

FFR Result: FFR: 05:06

Guarantor’s Background

Mr Brij Mohan Mangal is an aged about 30 Yrs and basically belongs to Tehsil Bari, District Dholpur. He is enagaged in
stone crusher business since 2007 and having family back ground from stone crusher ship and engaged in stone gritt
supplying business at Tehsil Bari, District Dhaulpur. He is residing at Gwalior from last 07 yrs and having good hold at Gram
Billoua in the supplying of raw material for the manufacturing of Gritt on the contractual basis and supplying of Griit to U.P.
market. He is an existing customer of HDFC and Indusind Bank and having 03 excavators and 03 mining Tippers finance on
the name of his Prop firm M/s Vaishnavi Suppliers. Having 01 SANY SY 210 free on his firm name from HDFC.

Billing/Income Generation from Existing Assets

F. Details of Contracts in Hand: -

Principal Nature of Nature of Contract Billing Value of Billing Quality of Order Regional
Name & Contract(St Contract( extended per unexecuted Cycle(( Principal(s) Book Sector
Contact art Date) End Date) up to month contract Mty/Qt Outlook
Details (In Rs.) y)
Sri Avantika 2018-05-22 100000000.0 Monthly Good Good
Contractor P Ltd 0
& Supply of
aggregates

G. Banking Details: -

Name of Bank Nature of Account Average Average Account Number Average No. Of
Monthly Monthly Quaterly cheque
Inflow Outflow Balance Bounce
Andhra Bank, Gwalior (M/s Current A/c 30.33 lacs - 220411100002157 0 0
Shri Siddhi Vinayak Stone
Crusher)
(Validated from March 2018 to May 2018)

Partner’s banking:

Account Holder M/s Vaishavi Suppliers (Prop. Brij Mohan Mangal)

Name of Bank HDFC Bank
Name of Branch Gwalior
Account no 50200015422961
Account Type CA
CC/OD limit detail  

Name of Bank  
Debit in the
Credit in the month No of chq
Month month /Out
/Inflow bounce
flow
Dec-17 101.98   0
Jan-18 65.02   0
Feb-18 70.26   0
Mar-18 53.56   0
Apr-18 89.29   0
May-18 19.72   0
Total 399.83   0
Average of 6 month 66.64 0.00  

H. Financial Highlights: - M/s Vaishnavi Suppliers (Prop. Brij Mohan Mangal)

Year : 2017-18 2016-17 2015-16
 Period : (Upto 31.03.2018) (12 months) (12 months)
  Provisional Unaudited Unaudited
Gross Income from Main Operations (Turnover net of taxes) 411.82 67.83 67.71
Operating Profit (PBIDT) 36.70 14.26 7.88
Less :
§    Interest Paid 0.10 0.00 0.00
§    Deprecation 19.44 8.21 0.00
Gross Profit from Main Operations 17.16 6.06 7.88
Add: Other Income 0.00 2.49 0.00
Net Profit Before Tax 17.16 8.54 7.88
Deduct : Taxes (*) 5.15 2.56 2.36
Net Profit after tax 12.01 5.98 5.51
Cash generated 31.45 14.19 5.51
Equity Capital 46.86 47.72 39.18
Reserves and Surplus 0.00 0.00 0.00
Tangible Networth 46.86 47.72 39.18
Secured Loans 168.66 29.24 0.00
§    Term loan from Bank/FI 0.00 0.00 0.00
§    Lease/HP 168.66 29.24 0.00
§    Working Capital from Bank 0.00 0.00 0.00
§    Others (specify) 0.00 0.00 0.00
Unsecured Loans 0.00 0.00 0.00
§    Promoters and Directors 0.00 0.00 0.00
§    From Others 0.00 0.00 0.00
Sundry Debtors 69.93 -12.81 36.00
§    O/s less than 6 months 69.93 -12.81 36.00
§    O/s 6 months & above 0.00 0.00 0.00
Fixed Assets 159.45 46.50 0.00
§    CV & CE 159.45 46.50 0.00
§    Others 0.00 0.00 0.00
Sundry Creditors 26.03 0.00 0
Cost of Goods Sold 361.71 61.78 53.83
Inventories 2.74 27.53 0.470
Ratios :
DER 3.60 0.61 0.00
Secured Loans/ Turnover ratio 0.41 0.43 0.00
Increase in Turnover (%) 507.17 0.17 76.33
EBITDA margin (%) 8.91 24.70 11.63
PAT margin (%) 2.92 8.82 8.14
Term Loans/ Cash Generated 5.36 2.06 0.00
Debtor days 62 - 194
Creditor days 26.27 0.00 0.00
Stock turnover days 2.77 162.67 3.19
(*) Income Tax has been assumed @ 30%

Comments on financials :

Financials remained weak with low scale of operations of the business upto FY 17. However during the last fiscal there has been a
considerable growth in Top line although the EBITDA as well as PAT margins dropped due to a steep rise in operating expenses
(increased from a level of Rs 9.62 Lacs during FY 17 to Rs 100.53 Lacs during FY 18. Consequently the PAT margin also deteriorated to
2.92% during the last fiscal.

The client had resorted to H.P borrowings during FY 18 with HDFC Bank, IndusInd Bank & Hinduja for acquiring CME assets hence
deterioration in leveraging of the business during this period to 3.60 (DER) from a comfortable position during the earlier years. As a
result of the same cash generation of the business had also been inadequate vis a vis the term liabilities with TD/ CP of 5.36 x.

Receivables cycle of the business which had been adverse during the earlier period had been manageable at 62 days during the last
fiscal.
Financials: M/s RRS construction Company

  Previous Year Previous Year

Year : 2016-17 2015-16
Period : (12 months) (12 months)
  Audited Audited
Gross Income from Main Operations (Turnover net of taxes) 66.49 85.66
Operating Profit (PBIDT) 24.24 19.86
Less :
§    Interest Paid 5.20 3.05
§    Deprecation 13.78 16.21
Gross Profit from Main Operations 5.27 0.61
Add: Other Income 0.00 0.00
Net Profit Before Tax 5.27 0.61
Deduct : Taxes 1.58 0.18
Net Profit after tax 3.69 0.42
Cash generated 17.46 16.63
Equity Capital 51.86 62.31
Reserves and Surplus 0.00 0.00
Tangible Networth 51.86 62.31
Secured Loans 19.75 0.00
§    Term loan from Bank/FI 0.00 0.00
§    Lease/HP 19.75 0.00
§    Working Capital from Bank 0.00 0.00
§    Others (specify)ECB & Other Loans, Mobilisation Advance 0.00 0.00
Unsecured Loans 6.01 6.02
§    Promoters and Directors 6.01 6.02
§    From Others 0.00 0.00
Sundry Debtors 0.00 0.00
§    O/s less than 6 months 0.00 0.00
§    O/s 6 months & above 0.00 0.00
Fixed Assets 78.06 91.84
§    CV & CE 78.06 91.84
§    Others 0.00 0.00
Sundry Creditors 1.09 21.10531
Cost of Goods Sold 40.9187 85.05957
Inventories 0 0
Ratios :
DER 0.50 0.10
Secured Loans/ Turnover ratio 0.30 0.00
Increase in Turnover (%) -22.38% #DIV/0!
EBITDA margin (%) 36.46% 23.19%
PAT margin (%) 5.54% 0.49%
Term Loans/ Cash Generated 1.13 0.00
Debtor days #DIV/0! #DIV/0!
Creditor days 9.72 90.57
Stock turnover days 0.00 0.00

Credit Comments:
Applicant firm, M/s Shri Siddhi Vinayak Stone & Crusher is a partnership firm and formed at 12th Day of Jan 2018 and
according to the deed there are seven partners in this firm and it is having its registered office at rented address 15,
Tagore Nagar, University Road, Gwalior from date of inception of this partnership firm. (Rent agreement is documented
in file). The partners belong to are different families. (PAN No: ADOFS8483N). Net Worth details of applicant firm as
per NW statement as on 30.06.2018 is Rs. 231.80 Lacs. Shareholding details are as follows:

Name of Stakeholder %Holding Relationship

 Smt Bharti Yadav 10.00 Wife of Shailendra Singh
Mr Sanjay Jain 20.00 Partner
Mr Brij Mohan Mangal 20.00 Partner
Mr Raj Kumar Khandelwal 20.00 Key Partner
Mr Abhishek Jain 10.00 Partner
Mr Ram Sewak Singh 10.00 Partner
Mr Atul Gupta 10.00 Partner
(Partnership deed is documented in file)

Mr Brij Mohan Mangal is common partner in Sai Kripa Stone Crusher and applicant firm; Both the entities are
separate one thus we have never added the unavailed exposure of Sai Kripa Stone Crusher)

Details about partners:

Partner 1: Mr. Brij Mohan Mangal: He is an aged about 30 Years and basically belong to Tehsil Bari, District Dholpur.
He is engaged in stone crusher business since 2007 and having family back ground from stone crusher and engaged in
stone grit supplying business at Tehsil Bari, District Dhaulpur. He is residing at rented address A-81/2, Govindpuri City
centre, Gwalior, Madhya Pradesh -474001 from last 4+ years and engaged in supplying of raw material for the
manufacturing of Gritt on the contractual basis in U.P. market. (Parental permanent address is opposite of Panchayat
Samiti office, bari, Dholpur, Rajasthan -328021).

- Mr Brij Mohan Mangal is an experienced Building material and Gritt Suppliers and having their proprietorship
firm namely M/s Vaishnavi Suppliers. He is having good relations with stone crusher owner and experience of
running the stone crusher ship on Contractual basis along with operating facility of lease hold mines at Gram
Billaua, Tehsil Dabra, and District Gwalior. Mr Brij Mohan Mangal is having their good supply of Gritt to
AFCON Infrastructure & Oriental Structural Eng Pvt Ltd on demand basis and regular supplying to District
Agra & Bari, District Dholpur

- As per ITR of FY 16-17 the total Income is Rs. 9.13 lacs, for FY 15-16 the total Income is Rs. 8.9 lacs & for FY 14-15
total income is Rs. 3.41 Lacs

- Net worth of Brij Mohan Mangal as on 26.06.2018 is Rs. 162.26 Lacs

Partner 2: Mr Atul Gupta: He is 27 years old and residing at parental address at 31M/38 Mitra Puram Kahraee Mod
Shamshabad Road, Agra, Uttar Pradesh, 282001 from many years. He is having a Prop firm named M/s Gupta Traders.
(GSTN no. 09ASKPG2401P1ZK). At present he is having work order from Sri Avantika Contractors P Ltd on their
Contract site at Shikohabad & Etah (U.P.) Net Worth details as per NW statement as on 26.06.2018 is Rs. 89.99 Lacs.

Partner 3: Mr Abhishek Jain: He is 41 years old and residing at Flat No 501 Saugat App Govisaugat aptt, Gwalior,
Madhya Pradesh, 474002 from last 10+ years and he is also Contractor and doing business since last 12+ years. Net
Worth details as per NW statement as on 30.07.2018 is Rs. 75.85 Lacs.

Partner 4: Mr Sanjay Jain is 44 years old and residing at House Number CL 34 Deen Dayal Nagar Maharajpura, Gwalior,
Madhya Pradesh, 474020 from last 10+ years. He is well experienced Building material and Gritt Supplier. His wife Mrs.
Majula Jain is having 15% ownership in M/s Sai Kripa Stone Crusher & Gritt Suppliers. Mr Sanjay Jain is also having
their good network at Bhind area for the supplying of Gritt from their proposed Crusher Unit. He is already acquired
good leasehold quarry mines on the name of his wife Smt Manjula Jain around 02 Hectares at Gram Billoua for
supplying Boulders and raw material for crushing purpose. Net Worth details as per NW statement as on 25.06.2018 is
Rs. 9.70 Lacs.

Partner 5: Mr Raj Kumar Khandelwal is 42 years old and residing at A-74, Govindpuri, University Road, Thatipur, City
Centre, Gwalior (M.P.), Gwalior, Madhya Pradesh, 474011 from since 2004 and he is an authorized signatory for the firm.
Mr Raj Kumar Khandelwal is also having good business relations with the party at local level and having good
supplying of Gritt at local market on the demand basis. He is having an experienced of running the lease mines on the
operating basis for supplying raw materials to the Crusher unit. Net Worth details as per NW statement as on 26.06.2018
is Rs. 74.00 lacs.

Partner 6: Mr Ram Sewak Singh is 43 years old and residing at Bhind road Prabhu Dham Mandir Gram Girgaon,
Gwalior, Madhya Pradesh, 474020 from last 20+ years. He is an experienced civil contractor and suppliers, having their
supplying work of aggregates on the name of M/s Maa Shitla Associates, having their office at Vicky Factory, Jhansi
Road, Gwalior. Net Worth details as per NW statement as on 26.06.2018 is Rs. 251.75 lacs.
Partner 7: Bharti Yadav: She is 41 years old and residing at 19 Janak Samiti Vinay Nagar Sec 2,Gwalior,Madhya Pradesh,
474012 from many years. She is wife of Shri Shailendra Singh Yadav. Net Worth details as per NW statement as on
30.06.2018 is Rs. 74.26 Lacs.

Quarry Details:
Quarry land of size 2.0 hectares in the name of Mrs. Bharti Yadav having land located at khasra no. 3619/3 at Biloua
Gram Tehsil Dabra Dist Gwalior. The validity of lease land is from 09.05.2014 to 08.05.2024 (10 years ). EC issued by
DEIAA in the name of Mrs. Bharti Yadav for khasra no. 3619/3 Gram Biloua Tehsil Dabra, Gwalior. (EC Applied on
04.10.2017). Pollution Certificate is valid till 29.10.2022 and allotted in the name of M/s Bharti Yadav (Stone Boulder
mines).

Other land for Crusher deployment: Applicant firm M/s Shri SiddhiVinayak Stone And crusher also acquired land of
total size of 1.246 hectares which is located at Gram Billoua (0.125 Hectares @ Survey no. 3579/5, 0.307 Hectares @ survey
no. 3583/2, 0.2019 Hectares @ Khasra no. 3588/5, 0.178 Hectares @ Khasra no. 3589/5). 90% completion of required Civil
work and it will be finish with in next 15 Days.

Asset base of Group:

Asset Model Owner Free/Finance Seasoning
01 No. Sany Excavator SY 210 2016 M/s Vaishnavi Suppliers Finance-HDFC 22/23, ETR (AD: 0.36/PD: 1)
Excavator Emi of Rs. 154761/-
01 No. Hyundai R- 215 LC -7 2018 M/s Vaishnavi Suppliers Finance-HDFC 04/23, ETR (AD: 0/PD: 0)
Excavator EMI of Rs. 227674/-
01 No. Hyundai R- 215 LC -7 2018 M/s Vaishnavi Suppliers Finance- Indusind 01/48, ETR (PD: 0)
Excavator EMI of Rs. 119,000/-
01 No. Indus Saga Rock 2018 M/s Vaishnavi Suppliers Finance- Indusind 04/23, ETR (PD: 0)
breaker EMI of Rs. 46282/-
01 No. AL 2523 Tipper 2017 M/s Vaishnavi Suppliers Finance- Hinduja 08/36, ETR
(AD: 1.25/ PD: 8)
Emi of Rs. 108058/-
01 No. 120 TPH crusher unit 2007 M/s Vaishnavi Suppliers Free -
(Local Make –RD)
01 No. Puzzolana 200 TPH 2 2010 M/s Vaishnavi Suppliers Free -
stage crusher unit
01 No. Tata LPK 2523 tipper 2017 M/s Vaishnavi Suppliers Finance-ICICI 06/34, Regular (PD:2/AD:
0.33) EMI: 102492/-
01 No. Volvo Excavator EC210 2014 M/s RRS construction Free-Indusind 24/24, ETR (AD: 2.04/PD:
Company 10) EMI: 205,360/-
01 No. HRB Fine 23 RB 2015 M/s RRS construction Free-Indusind 17/17, GTR (AD: 3.82/PD:
Company 22) EMI: 67662/-
01 No. Volvo Excavator EC210 2014 M/s RRS construction Free -Indusind 24/24, ETR (AD: 2.04/PD:
Company 10) EMI: 205,360/-
M/s RRS construction Company is partnership firm amongst 3 family members which includes Shyam lal Khadelwal,
Ruchita Khandelwal & Raj Kumar Khandelwal (who is partner in applicant firm).

Work in Hand:
Principal Details of Work Tenure Value of Work
M/s Shri Avantika Work order for supply of aggregates, construction sand 1 year (As 120 lacs
Construction Limited and local sand for Shikohabad Site and Etah Site confirmed from
(Work allotted to Mr. key partner Mr.
Atul Gupta) For Shikohbad site Khandelwal)
1. Agreegates- Rs. 39/Cuf
2. Construction sand Rs. 75/Cuf
3. Local Sand – Rs. 28/Cuf
For Etah Site:
1. Aggregates –Rs. 43/Cuf
2. Construction and Royalty- Rs. 83/Cuf
Purchase order dates: 07.03.2018
M/s Shri Avantika Purchase order for supply of aggregates 12 months
Construction Limited Jhansi , Dabra location
(Work allotted to Mr. Supply details: (#)
Gupta Traders )
(#)
Particular Quantity Rate Amount
Aggregates 10 mm (Pahadi) 2000 MT 1200 2400000/-
Aggregates 20 mm (Pahadi) 2000 MT 1200 2400000/
Aggregates 10 mm (Nagal) 2000 MT 1300 2600000/-
Aggregates 20 mm (Nagal) 2000 MT 1300 2600000/-
Total 10000000/-

Deployment :
M/s Shri Siddhi Vinayak Stone and Crusher is a partnership firm and going to install their proposed new Puzzolana 200
TPH stone crusher unit at Gram Billoua Tehsil Dabra District Gwalior for manufacturing of Gritt and supplying Griit and
aggregates from Billoua to U.P under NH project and on the demand basis in the local market.

They have already acquired the lease hold land around 2.00 hectares on the name of his one partner Smt Bharti Yadav at
Gram Billoua vide survey no 3619/3 and already purchased around 1.246 Hectares on the name of his firm, partner Mr
Sanjay Jain.

Banking:
(i) Applicant firm (M/s Shri Siddhi Vinayak Stone Crusher) is having banking in Andhra Bank (a/c no.
220411100002157); Average credit receipt in last 3 months is Rs. 30.33 Lacs per months (Validated from
March 2018 to May 2018)

(ii) One of the partner in applicant firm Brij Mohan Mangal is having a banking in HDFC Bank, Gwalior Branch
(A/c no 50200015422961); Average credit receipt in last 6 months is Rs. 66.64 lacs per months (Validated
from December 2017 to May 2018)

(iii) One of the partner Mr. Rajkumar Khandelwal is having banking in Axis bank (A/c no. 158010100080112);
Average credit receipt in last 6 months is Rs. 2.63 Lacs per months (Validated from November to April 2018)

RM FI:
Applicant Firm: Shri Siddhivinayak 117501: 80% match
Guarantor: 116589 (Abhishek Jain): 80% match
116348 (Atul Gupta): 90% match
116110 (Bharti Yadav): Pin code match
116157 (Raj kumar Khandelwal): 90% match
116248 (Ram Sevak Singh): 20% match
116130 (Sanjay Jain): 0% match
(FI is conducted by RM; Cross checked the same with lat long website found positive and nearby location; visit of RM is
also confirmed during TVR)

Strength:

 ETR repayment history of key partner (Brij Mohan Mangal) with IndusInd Bank & HDFC Bank towards CME
asssets also M/s RRS construction Company having ETR track with Indusind

 Relevant experience of few of the partners like Brij Mohan Mangal & Raj Kumar Khadelwal in managing stone
quarry’s & Crushers of third parties and civil construction.

 Availability of stone quarry lease of decent size (2 hectares) at Vill Billaua (Dabra, Dist Gwalior) with valid lease
period upto May 2024 and valid EC clearance as well Pollution clearance.

 Ownership of land with consolidated size of 1.246 hectares at Vill Billaua (located at a distance of around 1.5 km
from the quarry site) where the proposed Stone Crusher unit shall be installed.

 Location of the stone quarry as well as land where proposed Crusher shall be installed at Vill Billaua which is a
high potential Crusher belt housing not less than 50 – 60 Crushers of various parties from where aggregates are
sold not only in Dist Gwalior but also at several places in the state of U.P.

Concerns:

× Applicant firm was recently constituted in Jan 2018 with 7 partners who are all outsiders and are yet to
commence operations.
 × Inherent risk of dissolution and capital withdrawal of partnership firm.

× Few of the partners have been managing stone mining and crushing operations of third parties however will
acquire a Stone Crusher for the first time.

× Weak financials of key partner (Brij Mohan Mangal) upto FY 17 and it is only during the last fiscal that a growth
in scale of operations of the business is observed.

× Available P.O’s are from unknown parties and the period of supply is not known.

× Our policy permits funding of max LTV & tenure of 85% & 48 months tenure for “A1” asset category, 80% &
48 months tenure for “A2” asset & 75% & 36 months for “A4” asset category based on the combination of
various parameters like “G3” Geography segment & “C” Customer segment.

Final Views:
Considering above mentioned concerns and strengths,
placing for views / recommendations.

Name of Credit Appraiser:

Abhijeet Patil

I.Deviation Details:

Allowed as per
Deviations Actual Approving Authority
manual
LTV (%)
Tenure
IRR (%)

Comments of Branch Head / RSM/ RH:

ID Role Grade Date: Remarks: Name: Status:

Applicant firm is a partnership

firm and all partners are not
belongs to the same family.
Having good experienced of CE
Based asset and manufacturing
and supplying of aggregates.
Having lease hold land around
02 Hectares on the name of his
partner and acquired the land
around 1.246 Hectares for the
installation of proposed plant
Puzzolana 200 TPH 02 Stage
crushing Unit at Gram Billoua,
Tehsil Dabra, District Gwalior on
the name of his proposed
applicant firm. Having ETR track
record with HDFC & IBL of their
CE assets. Having good strength
of work order in hand for
supplying of aggregates. All
Relationship partners are having their good 1811104217-Vinay
1811104217 Manager R1 2018-07-28 net worth. Jha

0904104498-Vipin
0904104498 BH R1 2018-07-30 Recommended. Kumar Singh

Approving Authority:Level 1
Date Of Approval:2018-07-26 00:00:00