MIRA INFORM REPORT

Report Date :

23.08.2011

IDENTIFICATION DETAILS

Name :	UNI - COLLOIDS IMPEX PRIVATE LIMITED
Registered Office :	206, Nagdevi Street, 2^nd Floor, Valiulla Complex, Mumbai – 400 003, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	02.07.2004
Com. Reg. No.:	11-147291
Paid-up Capital :	Rs. 11.778 Millions
CIN No.: [Company Identification No.]	U51909MH2004PTC147291
IEC No.:	0897003918
TAN No.: [Tax Deduction & Collection Account No.]	MUMU03599B
PAN No.: [Permanent Account No.]	AAACU3765B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer Of Cocoa Blocks and Cocoa Powder.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.		Satisfactory

Maximum Credit Limit :	USD 104000
Status :	Satisfactory
Payment Behaviour :	Usually Correct.
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

INFORMATION PARTED BY

Name :	Mr. Adnan Ismail Kapadia
Designation :	Finance Manager
Contact No.:	91-9820786630
Date :	20.08.2011

LOCATIONS

Registered Office :	206, Nagdevi Street, 2^nd Floor, Valiulla Complex, Mumbai – 400 003, Maharashtra, India
Tel. No.:	91-22-2343 9215 / 2343 0214 / 2342 9872 / 66743000 / 56370959
Mobile No.:	91-9820786630 (Mr. Adnan)
Fax No.:	011-91-22-2343 5976 / 2237 0959 / 66370959
E-Mail :	uni@bom8.vsnl.net.in unicoll@vsnl.com accounts@unicolloids.com adnan@unicokkiuds.com
Area :	2000 sq. ft.
Location :	Owned
Warehouse :	Located at Bhivandi Mumbai Ahmedabad
Branch Office :	4A, 2^nd Floor, Shalimar Complex, Mahalaxmi Five Cross Road, Paldi, Ahmedabad – 380007, India.
Tel No.:	91-79-26650741
Fax No.:	91-79-26621775
Area :	1600 sq.ft.
Location :	Owned

DIRECTORS

As on 30.09.2010

Name :	Mr. Khatib Anwar Valiualla
Designation :	Director
Address :	8 Mena Gujari Co-Operative STY. Prabhudas Thakker College Road, Paldi, Ahmedabad – 380007, India.
Date of Birth :	18.02.1970
Qualification :	B.Com
Experience:	20 Years
Date of Appointment :	02.07.2004
Din No.	00150681
Other Partnerships:	Ø Abdullbhai Abdulkader (Partner) Ø Kausar Textiles (Partner)
Name :	Mr. Amaluddin Mohammed Habib Valiualla
Designation :	Director
Address :	Rashid Mansion, Flat No – 4, Samuander Estate, Worli Point, Mumbai -400018, Maharashtra, India.
Date of Birth :	01.03.1929
Qualification :	H.S.C
Experience:	50 Years
Date of Appointment :	02.07.2004
Din No.	00150600
Other Partnerships:	Ø Abdullbhai Abdulkader (Partner) Ø Kausar Textiles (Partner)
Name :	Mr. Aziz Amaluddin Valiualla
Designation :	Director
Address :	Rashid Mansion, Flat No – 4, Samander Estate, DR. Annie Beseant Road, Worli, Mumbai -400018, Maharasahtra, India.
Date of Birth :	19.06.1956
Qualification :	T. Y. B.com
Experience :	26 Years
Date of Appointment :	02.07.2004
DIN No.	00150519
Other Partnerships:	Ø Abdullbhai Abdulkader (Partner) Ø Kausar Textiles (Partner)
Name :	Mr. Farooq Amaluddin Valiualla
Designation :	Director
Address :	Worli Point, Rashid Mansion, Samunder Estate, Dr.Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India.
Date of Birth :	01.04.1957
Qualification :	T. Y. B.com
Experience:	28 Years
DIN No.	00150560
Date of Appointment :	02.07.2004
Name:	Mr. Anwar Mohammadmia Valiualla
Designation:	Director
Address :	8 Mena Gurjari Co-operative STY, P.T.College Road, Palldi, Ahmedabad – 380007, Gujarat, India.
Date of Birth :	21.07.1942
Qualification :	B.Sc and Law
Experience:	30 Years
DIN No.	00150638
Date of Appointment :	02.07.2004
Other Partnerships:	Ø Abdullbhai Abdulkader (Partner) Ø Kausar Textiles (Partner)
Name :	Mr. Abbas Zainul Haveliwala
Designation :	Director
Address :	Gul Manor Building, 3^RD Floor, Flat No. 24, 8^th Strand Road, Colaba, Mumbai -400005, Maharashtra, India.
Date of Birth :	22.09.1959
Qualification :	Master in Marketing, B.Sc
Experience:	26 Years
Date of Appointment :	02.07.2004
Din No.	00152516

KEY EXECUTIVE

Name :	Mr. Adnan Ismail Kapadia
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Anwar Mohd. Valiulla	10192
Khatib A. Valiulla	7280
Sajid A. Valiulla	4160
Amluddin Mohd.habib Valiulla	21788
Farooq A. Valiulla	19760
Aziz A. Valiulla	19760
Majeda F. Valiulla	5460
Mahera A. Valiulla	5460
Amina A. Valiulla	2600
Saheda K. Valiulla	2600
Rushada S. Valiulla	2600
Kheirunnisa A. Valiulla	5200
Aamir F. Valiulla	5460
Hamza A. Valiulla	5460
Total	117780

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage of Holding
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer Of Cocoa Blocks and Cocoa Powder.
Products:	Cocoa Blocks Ø Milk Cocoa Block Ø Semi Sweet Cocoa Block Ø White Cocoa Block Ø Dark Compound Block Ø Milk Chocolate RMB 1100 Ø Mango Compound Block Ø Lemon Compound Block Cooca Powder Ø Majulah Cocoa Powder Chemical – Food Grade Ø Sodium Tripolyphosphate Ø Syrups Ø Colored Chocolate Vermicelli Ø Instant Gum Ø Hazelnut Paste Ø Wheat Fibre and Pea
Brand Name :	“MAJULAH” “SELBOURNE”
Agencies Held :	Ø KL – Kepong Cocoa Products – Malaysia Ø CNI – France Ø Majulab Cocoa Products – Malaysia Ø Tate and Lyle – Europe Ø Plantextlakt – Germany Ø Steans and Lahman – USA Ø Krevit – Holland Ø Syral-France Ø ID Foods –France Ø Barry Callebaut- Malaysia Ø Friesland Campina Kievit B.V.- The Netherlands Ø Colloides Naturels International- France Ø Syral- Belgium N.V
Terms :
Selling:	L/C, CAD
Purchasing :	Cash, Credit, Advance

GENERAL INFORMATION

Customers :

Distributors, Manufacturers

No. of Employees :

20 (Approximately)

Bankers :

Ø Union Bank of India, Mumbai Branch, Ahmedabad Branch

Ø Standard Chartered Bank, SME Credit, 23-25, M.G. Road, Fort, Mumbai – 400001, Maharashtra, India.

Ø HDFC Bank, Lokmanya Tilak Road Branch

Rs. In Millions

Facilities:

Secured Loans	31.03.2010	31.03.2009
From Bank
SCB A/C No. 23505050549 (Bank Overdraft)	0.000	3.524
Kotak Mahindra Bank Loan	0.642	3.143
SCB A/C 235-0-505421-8	0.000	0.039
SCB A/c 235-0-505418-8	0.000	0.016
SCB Loan A/C	0.781	1.889
Barclays Loan	1.886	2.958
Total	3.309	11.569
Unsecured Loans	31.03.2010	31.03.2009
From HO Mumbai Current A/C	3.116	4.629
From Others
Abdulbhai Abdulkadar	0.000	3.500
Total	3.116	8.129

Banking Relations :	Satisfactory
Auditors :
Name :	S Y Nulwalla and Company Chartered Accountant
Address :	283, Samuel Street, Devkaran Nivas, 2^nd Floor, office No.9, Vadgadi, Mumbai -400003,Maharashtra, India.
Tel No.:	91-22-23446006 / 40232322
Email :	synulwalla@rediffmail.com
Associates/Subsidiaries :	Abdulla Bhai Abdul Khadar Line of Busienss : Exporter of Guar Gum Kausar Textile Line of Business : Exporter of Textile

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs. 100/- each	Rs. 15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
117780	Equity Shares	Rs. 100/- each	Rs. 11.778 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		11.778	11.778	5.889
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		14.402	10.518	12.151
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		26.180	22.296	18.040
LOAN FUNDS
1] Secured Loans		3.309	11.569	9.206
2] Unsecured Loans		3.116	8.129	18.743
TOTAL BORROWING		6.425	19.698	27.949
DEFERRED TAX LIABILITIES		0.357	0.187	0.050
TOTAL		32.962	42.181	46.039
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.780	0.993	1.259
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.639	14.395	13.031
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.118	30.444	24.537
	Sundry Debtors	26.073	22.324	17.603
	Cash & Bank Balances	2.065	0.899	0.398
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	23.010	27.175	7.645
	Deposits	0.000	0.000	0.000
Total Current Assets		85.266	80.842	50.183
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	44.340	44.930
	Other Current Liabilities	0.275	1.760	12.260
	Provisions	10.108	7.358	6.174
Total Current Liabilities		54.723	54.049	18.434
Net Current Assets		30.543	26.793	31.7491
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		32.962	42.181	46.039

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	296.390	231.579	151.205
		Other Income			0.174
		GROSS REVENUE (A)	296.390	231.579	151.379
Less	EXPENSES
		Employee Cost			3.190
		Rent, Repairs and maintenance			0.959
		Electricity Charges			0.145
		Other Direct Expenses	NA	NA	13.314
		General Operating Expenses			13.822
		Raw Material Consumed			111.026
		TOTAL (B)	NA	NA	142.456
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	NA	8.923
Less	FINANCIAL EXPENSES (D)		NA	NA	2.489
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	NA	6.434
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	NA	0.358
	PROFIT BEFORE TAX (E-F) (G)		7.975	6.095	6.076
Less	TAX (I)		2.920	1.838	1.875
	PROFIT AFTER TAX (G-I) (J)		5.055	4.257	4.202
	TAXES OF EARLIER YEAR		0.000	0.200	NA
	NET SURPLUS		5.055	4.255	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	--	1.85	2.78
Net Profit Margin (PBT/Sales)	(%)	--	--	4.02
Return on Total Assets (PBT/Total Assets}	(%)	9.09	7.45	11.81
Return on Investment (ROI) (PBT/Networth)		0.30	0.27	0.34
Debt Equity Ratio (Total Liability/Networth)		2.33	3.31	2.57
Current Ratio (Current Asset/Current Liability)		1.56	1.50	2.72

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors
Dues of Creditors other than SSI Undertaking	30.271	30.267	NA
Dues of Creditors (For Expenses)	14.067	14.662	NA

TRADE REFERENCES:-

Ø Barry Callebaut Malaysia SDN. BHD.

Ø Majulah Koko Tawau SDN.BHD.

Ø Unilivers

Ø Nestle India

Ø GSK, Gurgaon, India

Ø Cocacola India

Ø Glaxosmithkline Consumer Healthcare Limited

Ø Coco India Private Limited

Ø Pepsico International

Ø IFF- International Flavours and Fragrances

Ø Syral N.V – Belgium

Ø CST - France

BACKGROUND:

Subject was incorporated in the year 1990 by Mr. Sarfarz M Valiulla, Mr. Khatib Anwar Valiulla and Mr. Farooq Amaluddin Valiulla. At Presentl, Management of the subject is vested in the hands of Mr. Amaluddin Mohammed Habib Valiulla, Mr. Farooq Amaluddin Valiulla, Mr. Anwar Mohd. Miya Valiulla, Mr. Khatib Anwar Valiulla and Mr. Abbas Sainuddin Haveliwala.

SALIENT FEATURES:

Strengths:

Ø Subject is in this line of business for two decades

Ø Experienced Management

Ø Reputed Customer base

Ø Revenue has increased during the period under study. Further as informed by the management, subject has earned revenue of Rs. 250.000 Millions for FY. 2010.

Ø Debt Equity Ratio is better than the industry standares as on 31.03.2009

Risk Factors:

Ø Supplier concentration- Around 60% and 20% of purchases are made form Barry Callbaa Limited (Malaysia) and Majula Coco (Malaysia) respectively.

Ø Gross Profit margin and net operating profit margin have declined during the period under study.

Bankers Charges Report as per Registry

Corporate identity number of the company	U51909MH2004PTC147291
Name of the company	UNI -COLLOIDS IMPEX PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	206, Nagdevi Street, 2^nd Floor, Valiulla Complex, Mumbai – 400 003, Maharashtra, India
This form is for	Modification of Charge
Charge identification number of the modified	10015221
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	Standard Chartered Bank, SME Credit, 23-25, M.G. Road, Fort, Mumbai – 400001, Maharashtra, India.
Nature of instrument creating charge	Hypothecation Agreement (Supplemental)
Date of instrument Creating the charge	01.06.2011
Amount secured by the charge	Rs. 75.000Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As agreed by and with the bank from time to time Terms of Repayment As agreed by and with the bank from time to time Margin As applicable, if any Extent and Operation of the charge The bank is having first charge on the security given by the company.
Short particulars of the property charged	Hypothecation by way of first charge on a) All the stock in trade both present and future consisting of raw materials, finished goods in process of manufacturing and other merchandise. b) All the present and future book debts, outstanding moneys receivable claims and bills
Date of instrument modifying the charge	24.11.2009
Particulars of the present modification	By present modification, the existing charge of Rs. 55.000 Millions enhanced to Rs. 75.000 Millions against the security of hypothecation by way of first and exclusive charge on : a) All the stock in trade both present and future consisting of raw material, finished goods, goods in process of manufacturing and other merchandise. b) All the present and future book debts, outstanding moneys receivable, claims and bills.

Fixed Assets:

Ø Computers

Ø Furniture and Fixtures

Ø Office Equipments

Ø Fax Machine

Ø Air Conditioner

Ø Facsimile Machine

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. 45.94
UK Pound	1	Rs. 75.76
Euro	1	Rs. 66.01

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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.