MIRA INFORM REPORT

Report Date :

14.11.2011

IDENTIFICATION DETAILS

Name :	E C PACKTECH MACHINES PRIVATE LIMITED (w.e.f.23.04.2008)
Formerly Known As :	E. C. PACKAGING PRIVATE LIMITED
Registered Office :	179, Pocket E, Phase II, Mayur Vihar, New Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	10.10.1995
Com. Reg. No.:	55-73054
Capital Investment / Paid-up Capital :	Rs. 2.226 millions
CIN No.: [Company Identification No.]	U74899DL1995PTC073054
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of all types of packaging machine, printing machinery and refrigeration machinery and their accessories and spare parts.
No. of Employees :	20 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 3720
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution

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. N S Rawat
Designation :	Accounts Manager
Date :	11.11.2011

LOCATIONS

Registered Office :	179, Pocket E, Phase II, Mayur Vihar, New Delhi, India
E-Mail :	ecppl@del3.vsnl.net.in
Factory :	14/7, Mile Stone, Mathura Road, Faridabad – 121003, Haryana, India
Tel. No.:	91-129-4192900/2277796/2277698/2277407
Fax No.:	91-129-2255602

DIRECTORS

AS ON 25.09.2010

Name :	Mr. Sunjay Nayyar
Designation :	Director
Address :	785, Sector 14, Faridabad – 121007, Haryana, India
Date of Birth/Age :	26.02.1969
Date of Appointment :	10.10.1995
DIN No. :	00017121

OTHER DIRECTORSHIP

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1995PTC073054	E C Packtech Machines Private Limited	Director	10/10/1995	10/10/1995	-	Active	NO
2	U28939HR1997PTC033557	Relinsafe Fire Protec Private Limited	Director	30/10/2004	30/10/2004	19/05/2009	Active	NO
3	U29299DL2005PTC132559	Top Team Machines Private Limited	Director	01/02/2005	01/02/2005	-	Active	NO
4	U15432HR2005PTC039106	Frazer Foods India Private Limited	Director	18/05/2005	18/05/2005	-	Active	NO
5	U29309HR2003PTC041331	Ultimate Electricals Private Limited	Director	16/08/2005	16/08/2005	-	Active	NO
6	U55204DL2007PTC162432	More Bites N Foods Private Limited	Director	23/04/2007	23/04/2007	-	Active	NO
7	U15122HR2007PTC036832	Sidsam Foods India Private Limited	Director	03/05/2007	03/05/2007	-	Active	NO
8	U29299DL2008PTC178229	Sidsam Formilan Machines Private Limited	Director	16/05/2008	16/05/2008	-	Active	NO
9	U85100HR2011PTC043411	Getwell Medicare (India) Private Limited	Director	14/07/2011	14/07/2011	-	Active	NO

Name :	Ms. Neena Nayyar
Designation :	Director
Address :	785, Sector 14, Faridabad – 121007, Haryana, India
Date of Birth/Age :	23.01.1940
Date of Appointment :	10.10.1995
DIN No. :	00029781

OTHER DIRECTORSHIP

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1995PTC073054	E C Packtech Machines Private Limited	Director	10/10/1995	10/10/1995	-	Active	NO
2	U15122HR2007PTC036832	Sidsam Foods India Private Limited	Director	03/05/2007	03/05/2007	20/05/2008	Active	NO
3	U15432HR2005PTC039106	Frazer Foods India Private Limited	Director	17/08/2007	17/08/2007	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vivek Raj Kapoor
Designation :	Chief Executive Officer
Name :	Mr. N S Rawat
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2010

Names of Shareholders	No. of Shares
Nayyar Sunjay	83053
Miglani Vibha	83053
Nayyar Neena	41527
Total	207633

AS ON 25.09.2010

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

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of all types of packaging machine, printing machinery and refrigeration machinery and their accessories and spare parts.
Products :	Automatic Horizontal Flow Wrap Machine Automatic Form Fill & Seal Machine to pack dry & liquid items Automatic Multi Track Pouch Packing (AMTPP) Machine Collar Type Automatic Packing Machine with Auger Filler Collar Type Automatic Pouch Packing (CTAPP) Machines with Volumetric Cup Filler Automatic Mineral Water Packing (AMWP) Machine Semi Pneumatic Form, Fill and Seal Machine Automatic High Speed Candy Wrapping Machine Automatic Edible Oil Packing (AEOP) Machine Automatic Horizontal Flow Wrap (AHFW) Machines to pack syringes, I.V. set, glucose bottle, mask, etc. Electronic Weigh Filler Auger Filler.
Exports :
Products :	Packaging Machines
Countries :	USA, South Africa
Terms :
Selling :	Credit
Purchasing :	Credit

PRODUCTION STATUS (As On 31.03.2009)

Particulars	Installed Capacity	Actual Production
AFFS Machines	200	69
AHFW Machines	500	23

GENERAL INFORMATION

Suppliers :

· Abha Enterprises

· Accurate Generators

· Aisha Enterprises(Bangalore)

· Ajanta Steels

· Amit Electricals

· Amrit Se Air Express Private Limited

· Ankur Publishing Company

· Apex

· Apex Control

· Apex Engineers

· Aqua Logistics Private Limited

· AZ Security And Management (P) Limited

· B.G. Industries

· Bhaskar Engg. Works

· Blue Oceans Travels Private Limited

· Capricon Excertion Private Limited

· Classic Industries

· Concepts 2 Automation

· Condot Systems P Limited

· Cyborg Net Solutions

· DHL Express (I) Private Limited

· Dropco Engineers

· Dropco Engineers Bangalore

Customers :

End Users

No. of Employees :

20 Approximately

Bankers :

• ICICI Bank, New Delhi
• Bank of India
• Canara Bank
• Allahabad Bank

Facilities :

(Rs. In Millions)

Secured Loans	31.03.2010	31.03.2009
Loans For Vehicles
ICICI Bank(Car Loan)	0.000	0.209
HDFC Loan A/C (Alto Car Loan)	0.111
Citi Corporation(Car Loan)	0.000	0.018
Total	0.111	0.227

Unsecured Loans	31.03.2010	31.03.2009
Try Gears India	0.977	0.555
Vibha Miglani	0.150	0.150
Total	1.127	0.705

Banking Relations :	-
Auditors :
Name :	JSVP and Company Chartered Accountant
Address :	B 20 21, Fruit Garden, Railway Road NH 5, Faridabad – 121001, Haryana, India
E-Mail :	vipca@sify.com
Pan No. :	AADFJ7336D

CAPITAL STRUCTURE

AS ON 25.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
207633	Equity Shares	Rs. 10/- each	Rs. 2.076 Millions
	Share Application		Rs. 0.150 million
			Rs. 2.226 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		2.226	2.076	2.076
2] Share Application Money		0.000	0.150	0.150
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(1.296)	(1.507)	(2.001)
NETWORTH		0.930	0.719	0.225
LOAN FUNDS
1] Secured Loans		0.111	0.227	0.371
2] Unsecured Loans		1.127	0.705	0.591
TOTAL BORROWING		1.238	0.932	0.962
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2.168	1.651	1.187
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.706	1.064	1.313
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.270	0.275	0.265
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.163	9.230	6.549
	Sundry Debtors	8.475	6.962	3.370
	Cash & Bank Balances	1.751	0.758	3.475
	Other Current Assets	3.597	0.000	0.000
	Loans & Advances	2.595	6.006	4.754
Total Current Assets		21.581	22.956	18.148
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.873	9.260	7.245
	Other Current Liabilities	11.909	12.217	10.212
	Provisions	0.612	1.172	1.088
Total Current Liabilities		21.394	22.649	18.545
Net Current Assets		0.187	0.307	(0.397)
MISCELLANEOUS EXPENSES		0.005	0.006	0.006
TOTAL		2.168	1.651	1.187

PROFIT & LOSS ACCOUNT

Particulars	31.03.2011
Sales Turnover (Approximately)	33.000

Expected Sales (2011-2012) : Rs. 35.000 millions

The above information has been parted by Mr. N S Rawat (Accounts Manager)

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	25.793	27.621	21.832
		Other Income	0.005	0.000	0.013
		TOTAL (A)	25.798	27.621	21.845
Less	EXPENSES
		Material Consumed	18.010	18.285	14.463
		Manufacturing and Administrative Expenses	6.962	7.937	5.970
		Prior Period Item	0.000	0.000	0.124
		Preliminary Expenses	0.001	0.001	0.001
		TOTAL (B)	24.973	26.223	20.558
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.825	1.398	1.287
Less	FINANCIAL EXPENSES (D)		NA	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.825	1.398	1.287
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.385	0.348	0.429
	PROFIT BEFORE TAX (E-F) (G)		0.440	1.050	0.858
Less	TAX (I)		0.230	0.449	0.366
	PROFIT AFTER TAX (G-I) (J)		0.210	0.601	0.492
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1.506)	(2.001)	(2.517)
Add	PROFIT ON CHIT		0.000	0.000	0.024
Less	WRITTEN BACK		0.000	0.107	0.000
	BALANCE CARRIED TO THE B/S		(1.296)	(1.507)	(2.001)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings		5.750
	TOTAL EARNINGS		NA	5.750	NA
	IMPORTS			2.792

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.81	2.18	2.25
Net Profit Margin (PBT/Sales)	(%)	1.70	3.80	3.93
Return on Total Assets (PBT/Total Assets}	(%)	1.88	4.37	4.41
Return on Investment (ROI) (PBT/Networth)		0.47	1.46	3.81
Debt Equity Ratio (Total Liability/Networth)		24.33	32.79	86.70
Current Ratio (Current Asset/Current Liability)		1.00	1.01	0.98

LOCAL AGENCY FURTHER INFORMATION

PERFORMANCE AND PROSPECTS:

The company experienced another successful year of operation recording growth. The directors are glad to share with the growth story and impressive future plans.

FIXED ASSETS:

• Plant and machinery
• Office equipment
• Generator
• Fire extinguish
• Car
• Computers
• Camera
• Furniture
• Motor cycle

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	Yes
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	--
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

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.50.28
UK Pound	1	Rs.80.08
Euro	1	Rs.68.44

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		26

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

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.