1. Summary Information

		Country	India
Company Name	BONUS PLASTICS PRIVATE LIMITED	Principal Name 1	Mr. Parikh Rajendra Sakalchand
Status	Satisfactory	Principal Name 2	Mr. Parikh Rocky Rajendra
		Registration #	04-010796
Street Address	G-6, Diamond Square, Near Navjeevan Press, Ashram Road, Ahmedabad – 380 014, Gujarat, India
Established Date	06.06.1988	SIC Code	--
Telephone#	91-79-27540214/ 27542873/ 31009323/ 30080220/ 30080330	Business Style 1	Manufacturer
Fax #	91-79-27544774/ 30080440	Business Style 2	Exporter
Homepage	www.bonusplastics.co.in	Product Name 1	Narrow Woven Fabrics
# of employees	150 (Approximately)	Product Name 2	Industrial Woven Fabrics
Paid up capital	Rs. 6,000,000/-	Product Name 3	Nylon Woven Fabrics
Shareholders	Directors or relatives of directors (100.00%)	Banking	Corporation Bank
Public Limited Corp.	NO	Business Period	23 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	19,514,000	Current Liabilities	3,743,000
Inventories	6,964,000	Long-term Liabilities	9,385,000
Fixed Assets	10,439,000	Other Liabilities	4,299,000
Deferred Assets	000	Total Liabilities	17,427,000
Invest& other Assets	000	Retained Earnings	13,490,000
		Net Worth	19,490,000
Total Assets	36,917,000	Total Liab. & Equity	36,917,000
Total Assets (Previous Year)	37,317,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	100,255,000	Net Profit	4,369,000
Sales(Previous yr)	85,793,000	Net Profit(Prev.yr)	5,549,000

MIRA INFORM REPORT

Report Date :

07.06.2011

IDENTIFICATION DETAILS

Name :	BONUS PLASTICS PRIVATE LIMITED
Registered Office :	G-6, Diamond Square, Near Navjeevan Press, Ashram Road, Ahmedabad – 380 014, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	06.06.1988
Com. Reg. No.:	04-010796
Capital Investment/ Paid-up Capital:	Rs.6.000 millions
CIN No.: [Company Identification No.]	U24200GJ1988PTC010796
IEC No.:	0888032871
TIN No.:	24074501024
TAN No.: [Tax Deduction & Collection Account No.]	AHMB01323A / AAACB4753C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Narrow Woven Fabrics, Industrial Woven Fabrics, Nylon Woven Fabrics, PP Webbings and Belts.
No. of Employees:	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 78000
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 to be 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.

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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. Nikhil R. Parikh
Designation :	Director
Contact No.:	91-9327009323
Date :	25.04.2011

LOCATIONS

Registered Office :	G-6, Diamond Square, Near Navjeevan Press, Ashram Road, Ahmedabad – 380 014, Gujarat, India
Tel. No.:	91-79-27540214/ 27542873/ 31009323/ 30080220/ 30080330
Mobile No.:	91-9327009323 (Mr. Nikhil R. Parikh)
Fax No.:	91-79-27544774/ 30080440
E-Mail :	bonus@vsnl.net bonusad1@sancharnet.in nrparikh@eth.net info@bonusplastics.net
Website :	http://www.bonusplastics.co.in
Area :	3000 sq. ft.
Location :	Owned
Factory :	41/42, Ashwamegh Industrial Estate, Opposite S.B.I., Sarkhej Bavla Highway, Changodar – 382 213, Ahmedabad, Gujarat, India
Tel. No.:	91-2717-308444
Area :	10000 sq. yards
Location :	Owned

DIRECTORS

As on 30.09.2010

Name :	Mr. Parikh Rajendra Sakalchand
Designation :	Managing Director
Address :	A-5, Kailash Tower, Ambalal Ice Cream Lane, Navrangpura, Ahmedabad - 380 009, Gujarat, India
Date of Birth/Age :	21.10.1935
Qualification :	B. Sc.
Date of Appointment :	06.06.1988
DIN No.:	00215702
Name :	Mr. Parikh Rocky Rajendra
Designation :	Director
Address :	A-5, Kailash Tower, Ambalal Ice Cream Lane, Navrangpura, Ahmedabad - 380 009, Gujarat, India
Date of Birth/Age :	26.06.1966
Qualification :	B. E. [Plastics]
Date of Appointment :	14.01.1996
DIN No.:	00186998
Name :	Mr. Parikh Nikhil Rajendra
Designation :	Director
Address :	A-5, Kailash Tower, Ambalal Ice Cream Lane, Navrangpura, Ahmedabad - 380 009, Gujarat, India
Date of Birth/Age :	02.09.1964
Qualification :	B.E. [Mech.]
Date of Appointment :	06.06.1988
DIN No.:	01649094
Name :	Mr. Rasiwla Suyab Ibrahim
Designation :	Director
Address :	Kaji’s Dharga, Kach Ni Masjid, Astodia, Ahmedabad - 380 001, Gujarat, India
Date of Appointment :	06.06.1988
Date of Ceasing :	18.10.2002

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Equity Shareholders
Rejendra S. Parikh	27500
Nikhil. R. Parikh	8500
Rajendra S. Parikh HUF	2000
Rocky R. Parikh	8500
Veenaben R. Parikh	13450
Suryakant N. Dalal	1
Sivani D. Shah	1
Anupam D. Shah	1
Snehal D. Shah	1
Shaily D. Shah	1
Raj Snehal Shah	1
Sonal S. Shah	1
Sriraj S. Shah	1
Lalbhai M. Shah	1
Shimul D. Shah	1
Prakas S. Mehta	10
Deepak D Shah	10
Divyabala D. Shah	10
Divyabala M. Sheth	10
Total	60000

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Narrow Woven Fabrics, Industrial Woven Fabrics, Nylon Woven Fabrics, PP Webbings and Belts.

Products :

Product Description	Item Code No
Poly Propylene Filament Yarn	54026908
HDPE Fabrics	54026909
P. P. Narrow Woven Fabrics	58063200

· Polypropylene Multifilament Yarn

· Webbings (Narrow Woven Fabrics)

· Trouser Belts/ Safety Belts

· Curtain Tapes

Brand Names :

“BONUS”

Exports :

Products :

· Polypropylene Multifilament Yarn

· Webbings (Narrow Woven Fabrics)

· Trouser Belts/ Safety Belts

· Curtain Tapes

Countries :

· Middle East

· Gulf Countries

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Installed Capacity	Actual Production (Qty. – Kgs.)
P. P. Narrow Woven Fabrics	32 Looms	681419

GENERAL INFORMATION

Customer : 

Wholesaler , Retailer, End Users and OEM’s

No. of Employees :

150 (Approximately)

Bankers :

Corporation Bank, Navrangpura Branch, Navrangpura, Ahmedabad – 380 006, Gujarat, India

 Facilities :

Secured Loans	31.03.2009 Rs. In Millions	31.03.2008 Rs. In Millions
From Corporation Bank (Against hypothecation of stock)	0.909	10.363
From Corporation Bank (Term loan) All the above loans are personally guaranteed by the directors	10.221	0.734
Total	11.130	11.097

Unsecured Loans	31.03.2009 Rs. In Millions	31.03.2008 Rs. In Millions
Sharafi Deposits from
- Directors	0.290	1.533
- Share Holders	2.000	2.796
Total	2.290	4.329

Banking Relations :	--
Auditors :
Name :	Bhadresh and Siddharth Associates Chartered Accountants
Address :	203, Nalanda Enclave, Pritamnagar, Ahmedabad – 380 007, Gujarat, India
Tel. No.:	91-79-26581961/ 26584907
Fax No.:	91-79-26609779
Pan No.:	AACFB3138N
Memberships :	SRTEPC (Synthetic and Rayon Textiles Export Promotion Council) GSPMA (Gujarat State Plastic Manufacturers Association) ATPMA

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
80000	Equity Shares	Rs.100/- each	Rs.8.000 millions
20000	Preference Shares	Rs.100/- each	Rs.2.000 millions
	Total		Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.100/- each	Rs.6.000 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		6.000	6.000	6.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.490	11.220	6.724
4] (Accumulated Losses)		0.000	0.00	0.000
NETWORTH		19.490	17.220	12.724
LOAN FUNDS
1] Secured Loans		9.385	11.130	11.097
2] Unsecured Loans		0.000	2.290	4.329
TOTAL BORROWING		9.385	13.420	15.426
DEFERRED TAX LIABILITIES		0.000	0.000	0.165
TOTAL		28.875	30.640	28.315
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.439	8.255	8.135
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.964	11.157	7.560
	Sundry Debtors	10.942	7.698	10.121
	Cash & Bank Balances	1.381	1.337	1.254
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7.191	8.870	6.714
Total Current Assets		26.478	29.062	25.649
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.743	3.058	4.068
	Other Current Liabilities		0.366	1.025
	Provisions	4.299	3.253	0.376
Total Current Liabilities		8.042	6.677	5.469
Net Current Assets		18.436	22.385	20.180
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		28.875	30.640	28.315

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	100.255	85.793	75.448
		Other Income	NA	5.113	0.794
		TOTAL (A)	NA	90.906	76.242
Less	EXPENSES
		Cost of goods sold	NA	51.339	45.950
		Manufacturing Expenses		21.326	19.133
		Administrative and Selling Expenses		6.594	5.299
		Increase/(Decrease) in Stocks		0.242	1.080
		TOTAL (B)	NA	79.501	71.462
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.553	11.405	4.780
Less	INTEREST (D)		0.937	1.375	1.517
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.616	10.030	3.263
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.805	1.682	1.779
	PROFIT BEFORE TAX (E-F) (G)		6.811	8.348	1.484
Less	TAX (H)		2.442	2.799	1.097
	PROFIT AFTER TAX (G-H) (I)		4.369	5.549	0.387
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.201	5.495	5.336
Less	APPROPRIATIONS
		Transfer to General Reserve	0.500	0.550	0.000
		Transfer to Capital Reserve	0.000	2.240	0.000
		Proposed Dividend	1.800	0.900	0.180
		Dividend Tax	0.299	0.153	0.048
	BALANCE CARRIED TO THE B/S		8.971	7.201	5.495
	EARNINGS IN FOREIGN CURRENCY
		Fabrics	13.184	6.432	NA
		Yarn	1.053	1.614	NA
		Stores & Spares	0.051	0.000	NA
	TOTAL EARNINGS		14.288	8.046	NA
	Earnings Per Share (Rs.)		72.82	92.49	6.46

Particulars	31.03.2011 (Approximately)
Sales Turnover	120.000

Expected Sales (2011-2012): Rs.150.000 millions

The above information has been parted by Mr. Nikhil R. Parikh (Director)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	6.10	0.51
Net Profit Margin (PBT/Sales)	(%)	6.79	9.73	1.97
Return on Total Assets (PBT/Total Assets}	(%)	18.45	22.37	4.39
Return on Investment (ROI) (PBT/Networth)		0.35	0.48	0.12
Debt Equity Ratio (Total Liability/Networth)		0.89	1.17	1.64
Current Ratio (Current Asset/Current Liability)		3.29	4.35	4.69

LOCAL AGENCY FURTHER INFORMATION

Note:

The Registered Office of the company has been shifted from 10/A-1/A Shreeji Baug Flats, B/H Navrangpura Police Station, Ahmedabad, Gujarat to the present address w. e. f. 01.01.2007.

FUTURE PROSPECTS:

In spite of the severe competition from the unorganized market, the products of the company is being well received in the market which is on account of better quality. The company is constantly changing the product mix as per the needs of the market so as to improve the profitability.

FORM 8:

Date and description of instrument creating the change	Agreement of Hypothecation of Movable/ Assets / Debts dated 19.01.2004
Amount secured by the charge/amount owing on the securities of charge	Rs.10.500 millions
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	All raw material, stock in process, semi finished goods, stores and pares consisting of HDPE Granules, PPMF Yarn, HDPE Fabrics, tapes pp multi filament tapes, milt filament yarn stores at 41/42 Ashwamegh industrial Estate, Changodar, District Ahmedabad Belonging to the company and receivables, books debts. First charge over fixed assets of the company plant and machinery equipments furniture, DG set and fixtures etc and all other movable, fixed assets of the company present and future. The above facilities are further secured by personal guarantee of all the directors of the company.
Gist of the terms and conditions and extent and operation of the charge.	Interest : 14.5% and for import L/C as per norms of the bank Margin 30 % on Inventories Margin 25% on Book Debts
Name and Address and description of the person entitled to the charge.	Corporation Bank Industrial Finance Branch, Ahmedabad
Date and brief description of instrument modifying the charge	NA
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NA

This form is for	Modification of charge
Charge identification number of the charge to be modified	90110618
Corporate identity number of the company	U24200GJ1988PTC010796
Name of the company	BONUS PLASTIC PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	10/A-1/A Shreeji Baug Flats, B/H Navrangpura Police Station, Ahmedabad, Gujarat, India
Type of charge	Movable Property
Particular of charge holder	Corporation Bank, Navrangpura Ahmedabad – 380 006, Gujarat, India E-Mail: Cb668@corpbank.co.in
Nature of description of the instrument creating or modifying the charge	Supplementary common deed of hypothecation of movable assets / debts
Date of instrument Creating the charge	14.10.2006
Amount secured by the charge	Rs. 14.750 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit 10.50 % p.a. Term Loan 12.00 % p.a. Terms of repayment 37 EMI of 53.300 starting from 13.07.2007 Margin Cash credit 30 % Term loan 25 % Extent operation of the charge All the movable property of the company including stock book debts and machinery.
Short particulars of the property charged	All movable property i.e. stock, plant and machinery, things, goods, book debts etc.

FIXED ASSETS:

· Land

· Factory building

· Plant and Machinery

· Electric installation

· Furniture and fixtures

· Office equipments

· Vehicles

WEBSITE DETAILS:

PROFILE:

They are one of the manufacturers and exporters of narrow fabrics, webbings and yarn that are further used to manufacture various type of belts and bags.

Their extensive experience in narrow fabrics and webbings have help us in delivering products as per client's requirements. They use best raw material and high technology based manufacturing techniques for meeting the requirements of various industrial applications.

Led under the able guidance of Mr. N. R. Parikh, they are successfully catering to the requirements of narrow fabrics and webbings that are widely used in the manufacturing of bags and belts. With his constant support and co-operation they are maintaining their good hold in the entire market. Their extensive experience and good understanding enable us to deliver products as per latest market trends. With their qualitative features and positive attitude, their products are also exported to African countries.

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.44.72
UK Pound	1	Rs.73.46
Euro	1	Rs.65.47

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.