MIRA INFORM REPORT

Report Date :

18.11.2011

IDENTIFICATION DETAILS

Name :	DREAM PLAST INDIA PRIVATE LIMITED
Registered Office :	Gat No.147, Village – Mhalunge, Taluka- Khed, Pune – 410510, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.12.2009
Com. Reg. No.:	11-135105
Capital Investment / Paid-up Capital :	Rs.32.119 Millions
CIN No.: [Company Identification No.]	U25200PN2009PTC135105
TAN No.: [Tax Deduction & Collection Account No.]	PNED07039E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Plastic Moulding Components.
No. of Employees :	50 (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 47000
Status :	New Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a new company establishing itself gradually. 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.

INFORMATION PARTED BY

Name :	Mr. Suraj Ingavale
Designation :	Account Department
Contact No.:	91-2135-667884
Date :	17.11.2011

LOCATIONS

Registered Office/ Factory :	Gat No.147, Village – Mhalunge, Taluka- Khed, Pune – 410510, Maharashtra, India
Tel. No.:	91-2135-667884
Fax No.:	Not available
E-Mail :	admin@dreamplast.com singavale@dreamplast.com kartik@jjlawindia.com
Website :	http://www.dreamplast.com http://www.groupposunino.com
Location :	Rented

DIRECTORS

(AS ON 12.09.2011)

Name :

Mr. Paolo Sunino

Designation :

Director

Address :

Via XXV Aprile 13, Castellamonte To – 10081, Italy

Date of Birth/Age :

25.01.1963

Date of Appointment :

03.12.2009

DIN No.:

02436230

Name :

Mr. Marco Giuseppe Gilardino

Designation :

Director

Address :

Via XXV Aprile 13, Castellamonte To – 10081, Italy

Date of Birth/Age :

21.02.1963

Date of Appointment :

03.12.2009

DIN No.:

02436238

Name :

Mr. Stefano De Napoli

Designation :

Additional Director

Address :

Unit 03, Prestige Landsdowne Apartments, 15/1 ali Askar Road, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

24.07.1963

Date of Appointment :

05.12.2009

DIN No.:

00232720

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74140KA2007PTC044392	PANTHEON CORPORATE CONSULTANTS PRIVATE LIMITED	Director	16/11/2007	16/11/2007	Active	NO
2	U74200MH2007PTC174720	SIMM (INDIA) ENGINEERING CONSULTANTS PRIVATE LIMITED	Director	19/02/2009	19/02/2009	Active	NO
3	U29220DL2009PTC187276	SKH SILA INDIA PRIVATE LIMITED	Nominee director	25/10/2010	5/3/2009	Active	NO
4	U25200PN2009PTC135105	DREAM PLAST INDIA PRIVATE LIMITED	Additional director	5/12/2009	5/12/2009	Active	NO
5	U29120KA2011PTC057738	TURBOSOL PUMPING TECHNOLOGY PRIVATE LIMITED	Director	21/03/2011	21/03/2011	Active	NO
6	U74140KA2011PTC060966	H and P ADVISORY PRIVATE LIMITED	Director	29/10/2011	29/10/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Suraj Ingavale
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 12.09.2011)

Names of Shareholders	No. of Shares
Sunino S.p.A., Italy	2408910
Plastic Legno S.p.A. , Italy	802970
Total	3211880

(AS ON 30.09.2011)

Equity Shares Break- up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Plastic Moulding Components.
Exports :
Products :	Plastic Moulding components
Countries :	· Poland · South Africa · Italy
Imports :
Products :	Raw Materials
Countries :	Italy
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	Cash and Credit (30 days)

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Promotional Toys	Machine Hours	NA	93600	74880

GENERAL INFORMATION

Customers :

End Users, OEM’s and Manufacturer

No. of Employees :

50 (Approximately)

Bankers :

· Axis Bank,

Senapati Bapat Marg, Pune, Maharashtra, India

· HSBC Bank

Facilities :

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans from Others (Long Term due more than one year)	44.268	0.000
Total	44.268	0.000

Banking Relations :	--
Auditors :
Name :	SNDA and Associates Chartered Accountants
Address :	2, Alankar Apartment, S. No. 26/14, Near Sakhar Sankul, Shivaji Nagar, Pune – 411005, Maharashtra, India
PAN No. :	ABLFS4120K
Holding Company :	Sunino S.p.A., Italy

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Share	Rs.10/- each	Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3211880	Equity Share	Rs.10/- each	Rs.32.119 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		32.119	2.923
2] Share Application Money		0.004	17.927
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(20.320)	(1.593)
NETWORTH		11.803	19.257
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		44.268	0.000
TOTAL BORROWING		44.268	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		56.071	19.257
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		69.989	0.000
Capital work-in-progress		0.000	1.043
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.963	0.000
	Sundry Debtors	27.599	0.000
	Cash & Bank Balances	7.697	6.989
	Other Current Assets	18.005	11.631
	Loans & Advances	0.000	0.000
Total Current Assets		83.264	18.620
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	74.006	0.045
	Other Current Liabilities	23.176	0.361
	Provisions	0.000	0.000
Total Current Liabilities		97.182	0.406
Net Current Assets		(13.918)	18.214
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		56.071	19.257

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	TOTAL INCOME		77.295	NA
Less	TOTAL EXPENSES		74.507	NA
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2.788	(1.593)
Less/ Add	DEPRECIATION/ AMORTISATION		21.515	0.000
	PROFIT/ (LOSS) BEFORE TAX		(18.727)	(1.593)
Less	TAX		0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(18.727)	(1.593)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1.593)	0.000
	BALANCE CARRIED TO THE B/S		(20.320)	(1.593)
	EARNINGS IN FOREIGN CURRENCY		32.557	0.000
	IMPORTS
		Raw Materials	30.593	0.000
		Capital Goods	19.440	0.000
	TOTAL IMPORTS		50.033	0.000
	Earnings/ (Loss) Per Share (Rs.)		(10.12)	(41.44)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	(24.23)	NA
Return on Total Assets (PBT/Total Assets}	(%)		(8.56)
Return on Investment (ROI) (PBT/Networth)		(1.59)	(0.08)
Debt Equity Ratio (Total Liability/Networth)		11.98	0.02
Current Ratio (Current Asset/Current Liability)		0.86	45.86

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Dues of Micro and Small Industries	--	--
Dues from Others	74.006	0.045
Total	74.006	0.045

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	------
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	------
Litigations that the firm/ Promoters Involved in	------
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	------
Buyer visit details	------
Financials, if provided	No
Incorporation details is applicable	------
Last Accounts filed at ROC	------
Major Shareholders, if available	------

NOTE

Registered office of the company has been shifted from 2, Alankar Apartments, S. No. 26/14, Shivaji Nagar, Near Sakhar Sankul, Pune – 411005, Maharashtra to the present address w.e.f. 18.03.2010

FINANCIAL RESULTS

The year 2010-2011 was the second year of operation of the company during which the company has started the manufacturing activity. The income from sales and other income amounted to Rs.77.295 Millions during the year.

TRADE REFERENCE:

· Imsoyer

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 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.50.72
UK Pound	1	Rs.79.88
Euro	1	Rs.68.46

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		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
-	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.