MIRA INFORM REPORT

Report Date :

12.08.2011

IDENTIFICATION DETAILS

Name :	SFP SONS (INDIA) PRIVATE LIMITED
Registered Office :	Plot No. A-24, MEPZ, Special Economic Zone, Kadaperi, Tambaram, Chennai 600045, Tamilnadu, India
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	17.06.2004
Com. Reg. No.:	18-53500
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U24246TN2004PTC053500
IEC No.:	3805000103
TAN No.: [Tax Deduction & Collection Account No.]	CHES25192G
PAN No.: [Permanent Account No.]	AAICS9235N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of Perfumes and Cosmetics
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Dormant
Payment Behaviour :	Unknown
Litigation :	--
Comments :	As per government the status of the company is shown as “Dormant”. The management of the company has not filed its financials of the company with the government department since its inception. Payments are Unknown. However, As claimed by the management the company is very much active. Initially, the company can be considered for business dealings on a safe and secured 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Raj Gopal
Designation :	Account Manager
Contact No.:	91-44-22620028
Date :	09.08.2011

LOCATIONS

Registered Office / Factory :	Plot No. A-24, MEPZ, Special Economic Zone, Kadaperi, Tambaram, Chennai 600045, Tamilnadu, India
Tel. No.:	91-44-22623137/ 22623157 / 22620028 / 226200281
Fax No.:	91-44-22628025
E-Mail :	dinesh.sfp@gmail.com / info.sfp@gmail.com / sfp@ahsanperfumes.com / sfpsons@vsnl.com / patelsfandsons@dataone.in
Website :	www.sfpsons.com / www.ahsanperfumes.com
Area :	30000 Sq. Ft.
Location :	Owned

DIRECTORS

Name :	Mr. Dinesh S. Patel
Designation :	Managing Director
Address :	H2/2 TNBH Colony, Tambaram Sanitorium, Chennai-600047, Tamilnadu, India
Date of Birth/Age :	52 Years
Experience :	29 Year
Name :	Mr. Jagdish C. Patel
Designation :	Director
Address :	H2/5 TNBH Colony, Tambaram Sanitorium, Chennai-600047, Tamilnadu, India
Date of Birth/Age :	49 Years
Qualification :	B.Sc
Experience :	18 Years
Name :	Mr. Vasant Bhai Chimanbhai Patel
Designation :	Director
Address :	H2/4, TNHB Flats Near Durga Nagar Tambaram Sanatorium, Chennai – 600044. Tamil Nadu, India
Date of Birth/Age :	01.06.1959
Qualification :	BA
Date of Appointment :	26.07.2010
DIN No.:	03142070

KEY EXECUTIVES

Name :	Mr. Raj Gopal
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Mr. Dinesh S. Patel	5000
Mr. Jagdish C. Patel	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and Exporters of Perfumes and Cosmetics
Products :	Perfumes Attars Scents Cosmetics Sprays Nail Polish Fragrance Deodorants Talcum Powder Toothpastes Tooth Powder Hair Oils Hair Dyes Herbal Creams Pomeds Scented candles Ayurvedic Intermediates along with their raw materials Aromatic chemicals Agabathis Dhoops
Exports :
Products :	Perfumes Cosmetics Products
Countries :	Middle East Spain Singapore Malaysia
Terms :
Selling :	L/C, Cash , Credit (30 Days)
Purchasing :	Cash, Credit (30 Days), D/P

GENERAL INFORMATION

Customers :	Wholesalers and Retailers
No. of Employees :	250 (Approximately)
Bankers :	Bank of Baroda. Citi Bank, No.2, Clubhouse Road, Anna Salai, Chennai – 600002, Tamil Nadu, India

Banking Relations :	--
Auditors :
Name :	Mr. B Prathap Chartered Accountant
Address :	Chennai, India
Associates/Subsidiaries :	Patel Enterprises H1/10 TNBH Colony, Tambaram Sanitorium, Chennai-600047, Tamilnadu, India Line of Business: Marketing of Cosmetics Tel. No.: 91-44-22623157 / 22620028 / 22628015 Fax No.: 91-44-22628025 E-mail: patelenterprises@sfpsons.com

CAPITAL STRUCTURE

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs. 50.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		50.000
2] Share Application Money		0.000
3] Reserves & Surplus		10.680
4] (Accumulated Losses)		0.000
NETWORTH		60.680
LOAN FUNDS
1] Secured Loans		42.865
2] Unsecured Loans		50.000
TOTAL BORROWING		92.865
DEFERRED TAX LIABILITIES		0.000
TOTAL		153.545
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		48.987
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.000
	Other Current Assets	178.747
	Loans & Advances	4.036
Total Current Assets		128.419
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	71.766
	Provisions	6.681
Total Current Liabilities		78.447
Net Current Assets		104.336
MISCELLANEOUS EXPENSES		0.222
TOTAL		153.545

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008
Sales Turnover		375.832
Closing Stock		85.174
Other Income		8.306
Total Income		469.312
Net Profit		10.697
Expenditures :
	Interest and Finance Charge	4.392
	Depreciation & Amortization	6.948
	Other Expenditure	447.275
Total Expenditure		258.001
Earnings Per Share (Rs.)		2.14

Particulars	31.03.2011	31.03.2010	31.03.2009
Sales Turnover	520.000	491.200	470.000

Expected Sales (2011-2012 ) : Rs.600.000 Millions

The above information has been parted by Mr. Raj Gopal.

KEY RATIOS

PARTICULARS		31.03.2008
PAT / Total Income	(%)	17.63
Net Profit Margin (PBT/Sales)	(%)	2.85
Return on Total Assets (PBT/Total Assets}	(%)	6.03
Return on Investment (ROI) (PBT/Networth)		0.18
Debt Equity Ratio (Total Liability/Networth)		2.82
Current Ratio (Current Asset/Current Liability)		1.64

LOCAL AGENCY FURTHER INFORMATION

TRADE REFRENCES :

V.F.C. Industries Private Limited

FORM 8 :

Corporate identity number of the company	U24246TN2004PTC053500
Name of the company	SFP SONS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. A-24, MEPZ, Special Economic Zone, Kadaperi, Tambaram, Chennai 600045, Tamilnadu, India
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Citi Bank, No.2, Clubhouse Road, Anna Salai, Chennai – 600002, Tamil Nadu, India
Date of instrument Creating the charge	23.04.2010
Amount secured by the charge	Rs.40.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As announced from time to time Terms of Repayment All facilities repayable on demand Margin As agreed from time to time Extend and operation of the charge Property located at No.A22, Phase – 1, Hills Road, MEPZ, Kadepari Taluk, Tambaram West, Chennai – 600045, Tamil Nadu, India
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Property located at No.A22, Phase – 1, Hills Road, MEPZ, Kadepari Taluk, Tambaram West, Chennai – 600045, Tamil Nadu, India

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	Indian Rupees
US Dollar	1	Rs.45.27
UK Pound	1	Rs.73.33
Euro	1	Rs.64.58

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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.