MIRA INFORM REPORT

Report Date :

16.11.2011

IDENTIFICATION DETAILS

Name :	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED
Registered Office :	A-83, Industrial Estate, Rajaji Nagar, Bangalore- 560044, Karnataka.
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	29.04.1998
Com. Reg. No.:	08- 23682
Capital Investment / Paid-up Capital :	Rs.13.275 Millions
CIN No.: [Company Identification No.]	U22212KA1998PTC023682
TAN No.: [Tax Deduction & Collection Account No.]	BLRG00957F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Printing and Packaging Cartons, Lables, Pharma Literature, Visual Aids, Greeting Cards.
No. of Employees :	200 (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 440000
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. 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 DECLINED BY

Name :	Mr. Sreenivasan
Designation :	Accounts Manager
Tel No.:	91-80-23208056
Date :	09.11.2011

LOCATIONS

Registered Office/Factory :	A-83, Industrial Estate, Rajaji Nagar, Bangalore- 560044, Karnataka, India.
Tel. No.:	91-80-23208056/ 23151577/ 23402656
Fax No.:	91-80-23106150
E-Mail :	manjunath@globalprintingpackaging.com rajhans_printers@vsnl.com global_printing@dataone.in dushyanthak@gmail.com global_packaging@dataone.in emmarjee@gmail.com
Location :	Owned

DIRECTORS

AS ON 30.09.2010

Name :	Mr. B. K. Manjunath
Designation :	Whole Time Director
Address :	No. 193/B, 2^nd Block, 3^rd Cross, West of Chord Road, 3^rd Stage, Basaveswarangar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	19.06.1958
Qualification:	B. Pharma
Date of Appointment :	29.04.1998

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	U22211KA1974PTC002703	RAJHANS PRINTERS PRIVATE LIMITED	Director	12/08/1983	12/08/1983	-	Active	NO
2	U24139KA1979PTC003543	MYSORE PLASTICS AND CERAMICS PRIVATE LIMITED	Director	31/01/1990	31/01/1990	-	Active	NO
3	U22212KA1998PTC023682	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED	Director	29/04/1998	29/04/1998	-	Active	NO

Name :	Mr. B K Surendranath
Designation :	Whole Time Director
Address :	12, III Stage, Vinayaka Layout, Vijayanagar, Bangalore – 560040, Karnataka, India
Date of Birth/Age :	03.10.1956
Qualification:	B.Sc.
Date of Appointment :	29.04.1998

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	U22211KA1974PTC002703	RAJHANS PRINTERS PRIVATE LIMITED	Director	14/11/1997	14/11/1997	-	Active	NO
2	U22212KA1998PTC023682	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED	Director	29/04/1998	29/04/1998	-	Active	NO

Name :	Mr. B K Sanjeevanath
Designation :	Director
Address :	12, Vinayaka Layout III Stage, Vijaya Nagar, Bangalore, Karnataka, India
Date of Birth/Age :	12.06.1960
Qualification:	B.Sc.
Date of Appointment :	01.10.2009
Name :	Mr. B K Amarnath
Designation :	Director
Address :	1201 III Stage, Vinayaka Layout, Vijayanagar, Bangalore – 560040, Karnataka, India
Date of Birth/Age :	18.05.1962
Qualification:	B.E
Date of Appointment :	01.10.2009

KEY EXECUTIVES

Name :	Mr. M.R. Gopinath
Designation :	Company Secretary
Address :	Rukmini, 1^st Floor, 252/B, 2^nd C Main, 1^st Phase, Giinagar, Bangalore - 560085

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Sharmila Amarnath	9250
B K Surendranath	21000
B K Manjunath	23350
B K Sanjeevanath	18350
B K Amarnath	23000
B S Sandhya	12200
Bhavana Manjunath	10000
Sumana Sanjeevanath	10600
Rishab Electro Electrical Private Limited, West Bengal, India	5000
Total	132750

Equity Share Breakup (Percentage of Total Equity)

AS ON 30.09.2010

Category	Percentage
Bodies corporate	25.00
Directors or relatives of Directors	75.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Printing and Packaging Cartons, Lables, Pharma Literature, Visual Aids, Greeting Cards.
Products :	Folding Cartons Wet glue Labels Roll Labels Leaflets (Pack Inserts) Fluted Cartons (E and F) Tissue Boxes Greeting Cards Table/ Wall Calenders Blister Cards Window Patched Boxes Brochures Hang Tang Shopping Bags User Manuals Liquor Labels 4 and 6 Corner Boxes CD Pouches Envelops Boxes for Toys Gift Boxes (Non- Rigid) Mobile Phone Boxes Shirt Boxes Hosiery Boxes Fabric Friendly Stickers
Exports (Indirect) :
Products :	· Printing and Packaging Cartons · Lables · Pharma Literature
Countries :	· Jordan · Sri Lanka · UK
Imports (Indirect) :
Products :	Raw Material
Countries :	· Switzerland · Germany · Finland · Denmark · UK
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Actual Production
Printed Cartons, Catch Covers, Carry Bags, Wallets, Labels, Wrappers, Registers, Pouches, Envelopes, Corrg. Boxes		236174423 No. 1450 bags

GENERAL INFORMATION

Customers :

· Hindustan Levero Limited

· BPL Limited

No. of Employees :

200 (Approximately)

Bankers :

State Bank of India -Commercial Branch, Industrial Estate, Rajiji Nagar, Bangalore- 560044, Karnataka, India

Facilities :

SECURED LOANS	31.03.2010 RS. IN MILLIONS	31.03.2009 RS. IN MILLIONS
Term loan From State Bank of India (Secured against hypothecation of Machinery)	0.000	0.000
CC at State Bank of India (Against Book Debts, Stock)	55.980	49.388
TOTAL	55.980	49.388
UNSECURED LOANS	31.03.2010 RS. IN MILLIONS	31.03.2009 RS. IN MILLIONS
From Directors	5.300	3.250
From Shareholders	3.100	2.100
Total	8.400	5.350

Banking Relations :	--
Auditors :
Name :	Udaya Ravindra and Manoj Chartered Accountants
Address :	No.4, II Floor, Sree Ramabhadra Complex, No.4/5 Poojari Cheluvaiah Lane SJP Road, Cross, Bangalore – 560002, Karnataka, India
Tel. No.:	91-80-22239665
Associates:	Mysoro Plastic and Ceramics Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- Each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
132750	Equity Shares	Rs.100/- Each	Rs.13.275 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011
Sales Turnover (Approximately)	310.000

Expected Sales (2011-2012) : Rs.400.000 Millions

The above information has been parted by Mr. Sreenivasan (Accounts Manager)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		13.275	13.275	13.275
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		96.916	91.195	75.063
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		110.191	104.470	88.338
LOAN FUNDS
1] Secured Loans		55.980	49.388	29.862
2] Unsecured Loans		8.400	5.350	0.000
TOTAL BORROWING		64.380	54.738	29.862
DEFERRED TAX LIABILITIES		8.925	9.547	4.562
TOTAL		183.496	168.755	122.762
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		131.989	148.589	52.913
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	38.214	16.503	10.927
	Sundry Debtors	48.499	53.947	64.511
	Cash & Bank Balances	70.023	35.859	7.550
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	27.213	29.617	10.746
Total Current Assets		183.949	135.926	93.734
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	127.943	112.123	18.542
	Other Current Liabilities	4.499	3.637	5.343
	Provisions
Total Current Liabilities		132.442	115.760	23.885
Net Current Assets		51.507	20.166	69.849
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		183.496	168.755	122.762

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	245.830	230.061	237.108
		Other Income
		TOTAL	245.830	230.061	237.108
Less	EXPENSES
		Office Expenses
		Administrative Expenses	237.360	205.841	221.528
		Advertising Expenses
		TOTAL (including Depreciation)	237.360	205.841	221.528
	NET PROFIT		8.470	24.220	15.580

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.45	10.53	6.57
Return on Total Assets (PBT/Total Assets}	(%)	2.68	8.37	10.62
Return on Investment (ROI) (PBT/Networth)		0.08	0.23	0.18
Debt Equity Ratio (Total Liability/Networth)		1.79	1.63	0.61
Current Ratio (Current Asset/Current Liability)		1.43	1.17	3.92

LOCAL AGENCY FURTHER INFORMATION

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	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
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	--

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	90196346
Corporate identity number of the company	U22212KA1998PTC023682
Name of the company	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A-83, Industrial Estate, Rajiji Nagar, Bangalore- 560044, Karnataka, India.
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge Immovable Property
Particular of charge holder	State Bank of India -Commercial Branch, Industrial Estate, Rajiji Nagar, Bangalore- 560044, Karnataka, India.
Nature of description of the instrument creating or modifying the charge	Agreement of loan cum hypothecation from SME- 2 and memorandum for recording extension of mortgage by deposit of title deeds SME- 7, (both pertain to the same charge)
Date of instrument Creating the charge	26.09.2008
Amount secured by the charge	Rs. 157.500
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Rate: WCL- at SBAR with a minimum of 13.75% p.a. rising or falling therewith, on daily products with monthly rests. Present effective rate 13.75% p.a. Penal interest for non compliance of terms of sanction: Max 2% p.a. over the normal rate. Prepayment penalty as per terms of sanction. Terms of Repayment: WCL- On demand. Advance is for a period of 12 months and subject to review as per sanction. Margin: RM (Imported and Domestic) /Sip/FG/Receivables/LC/BG- 25% Extent and Operation of the charge: Exclusive first charge on the assets of the company and to the full extent. Others: CC, Stocks and Receivables Rs. 52.500 Millions, Bank Guarantee Rs. 5.000 Millions, Letter of Credit Rs. 30.000 Millions, LC (One Time) Rs. 70.000 Millions, Total Rs. 157.500 Millions
Short particulars of the property charged	Hypothecation of company’s present and future movable fixed assets and current assets like stocks, raw materials, semi finished and finished goods, book debts, receivables, outstanding monies, bills, rights, stores, components, furniture and fittings, other movables, plant and machinery, vehicles and assets to be purchased out of Bank finance . Equitable mortgage of Immovable property western portion of land at no. A- 88/13, 4^th, Main Road, 6^th Block, Industrial Estate, Rajaji Nagar, Bangalore.
Date of latest modification prior to the present modification	26.11.2005

Fixed Assets:

v Land

v Building

v Borewell

v Plant and Machinery

v Air Conditioners

v Refrigerator

v Furniture and Fixtures

v Computers

v UPS

v Printer

v Scooter

v Car

v Fire Extinguisher

v Aqua Guard

v Generator

v Cycle

v Office Equipments

v Electric Installation

v Toyota Qualis

v Wagon- R

v Toyota Innova

v TATA 407

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.50.56
UK Pound	1	Rs.80.29
Euro	1	Rs.68.78

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	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--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.