MIRA INFORM REPORT

Report Date :

25.10.2011

IDENTIFICATION DETAILS

Name :	ARISTOPLAST ENTERPRISES PRIVATE LIMITED

Registered Office :	129, Mittal Industrial Estate, Sanjay Building No.6, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra.

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	05.04.1991

Com. Reg. No.:	11-061073

Capital Investment / Paid-up Capital :	Rs.1.560 millions

CIN No.: [Company Identification No.]	U25209MH1991PTC061073

TAN No.: [Tax Deduction & Collection Account No.]	MUMA22162A

PAN No.: [Permanent Account No.]	AAACA3336Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Plastic Crates and Household Products.

No. of Employees :	Not Available

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 30000

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	129, Mittal Estate, Sanjay Building no.6, Andheri Kurla Road, Andheri (East), Mumbai-400059, Maharashtra, India.
Tel. No.:	91-22-28506721 / 2926 / 64526721
Fax No.:	91-22-28503200
E-Mail :	aristoplast@vsnl.com aristoplastent@mtnl.net.in aristo@bom7.vsnl.net.in
Website :	www.aristoplast.com

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Dinesh Bhawanji Savla

Designation :

Whole Time Director

Address :

2/B, Girivihar, Block No.31, Jivdaya Lane, Ghatkopar (West), Mumbai-400086, Maharashtra, India.

Date of Birth/Age :

07.09.1960

Date of Appointment :

05.04.1991

DIN No. :

00836110

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	U25209MH1991PTC061073	Aristoplast Enterprises Private Limited	Whole-time director	5/4/1991	5/4/1991	-	Active	NO
2	U74950MH1995PTC084690	Uniplast Enterprises Private Limited	Director	17/01/1995	17/01/1995	-	Active	YES
3	U24240MH1999PTC122828	Glamour Soaps Private Limited	Director	29/11/1999	29/11/1999	1/2/2008	Active	NO

Name :

Mr. Nitin Bhawanji Savla

Designation :

Whole Time Director

Address :

201/B/5561, Kanchan Ganga, Opposite Odeon Cinema, Ramnarayan Narkar Marg, Ghatkopar (East), Mumbai-400075, Maharashtra, India.

Date of Birth/Age :

26.08.1963

Date of Appointment :

05.04.1991

DIN No. :

00377654

Other Directorship :

.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	U25209MH1991PTC061073	Aristoplast Enterprises Private Limited	Whole-time director	5/4/1991	5/4/1991	-	Active	NO
2	U74950MH1995PTC084690	Uniplast Enterprises Private Limited	Director	17/01/1995	17/01/1995	-	Active	YES
3	U24240MH1999PTC122828	Glamour Soaps Private Limited	Director	29/11/1999	29/11/1999	1/2/2008	Active	NO
4	U99999MH1983PTC029237	Bina Holdings Private Limited	Director	27/08/2008	17/01/2008	-	Active	NO
5	U45208MH2008PTC188470	Shree Padmavato Bhoomi Navsarjan Private Limited	Director	30/09/2010	15/07/2010	-	Active	NO

Name :

Mr. Ashish ShamjiChheda

Designation :

Director

Address :

Darmakshetra, 4, Factory Lane, Borivali (West), Mumbai-400092, Maharashtra, India.

Date of Birth/Age :

09.10.1960

Date of Appointment :

26.09.1991

DIN No. :

00383760

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders		No. of Shares
Dinesh Bhwanji Savla		1500
Nitin Bhawanji Savla		1500
Ashok Damji Lalan		10
Pravina Ashok Lalan		110
Saurabh Ashok Lalan		10
Shruti Ashok Lalan		10
Laxmiben Bhawanji Savla		1200
Harshita Nitin Savla		1120
Jayshree Dinesh Savla		1260
Siddhi Dinesh Savla		1490
Darshik Dinesh Savla		1500
Hardik Nitin Savla		1390
Dinesh Bhawanji Savla (HUF)		1500
Nitin bhawanji Savla (HUF)		1500
Bhawanji V. Savla (HUF)		1500

Total		15600

Equity Share Breakup

(AS ON 30.09.2010 )

Category		Percentage
Directors or relatives of directors		100.00

Total		100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Plastic Crates and Household Products.

Products :

Plastic Household Products :

Multipurpose Rack
Jewel Set
Dual Colour Products
Lock and Fresh Air Tight Container
Containers
Shopping and storing Baskets
Jug. Fridge Bottles and Trays
Miscellaneous Items
Bathroom Accessories
Dust Pans Sparayers and Pedal Bins
Planters and Crates
School Mates

Plastic Crates :

· Crates Series 300-200 / 400-300

· Crates Series 500-325

· Crates F and V Crates

· Series Dairy Crates

· Crates Series Heavy Duty Jumbo

· General Crates

· Crates Series Fabrication

· Crates Series Basket

· Crates Series Storage Bins

Product description	Item Code No.
Manufacturer of Plastic Household Articles	---

GENERAL INFORMATION

No. of Employees :

Not Available

Facilities :

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors	0.578	0.080
From Others	8.061	3.889
Total	8.639	3.969

Banking Relations :	---

Auditors :
Name :	Anil H. Haria and Company Chartered Accountant
Address :	12, Keshavji Naik Road, Bhat Bazar, Mumbai-400009, Maharashtra, India.
Income-tax PAN of auditor or auditor’s firm :	AAAPH0579H

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount

25000	Equity Share	Rs.100/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

15600	Equity Share	Rs.100/- each	Rs.1.560 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		1.560	1.560	1.560
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.796	5.878	5.227
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.356	7.438	6.787
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		8.639	3.969	3.973
TOTAL BORROWING		8.639	3.969	3.973
DEFERRED TAX LIABILITIES		0.212	0.032	0.054

TOTAL		17.207	11.439	10.814

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		7.813	1.850	2.236
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	1.958	0.961	2.819
	Sundry Debtors	5.644	4.241	4.096
	Cash & Bank Balances	4.278	0.524	0.632
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.976	7.795	2.929
Total Current Assets		13.856	13.521	10.476
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.307	2.827	0.997
	Other Current Liabilities	0.453	0.633	0.747
	Provisions	0.701	0.472	0.154
Total Current Liabilities		4.462	3.932	1.898
Net Current Assets		9.394	9.589	8.578

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		17.207	11.439	10.814

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008

	Turnover	24.408	21.888	16.406
	Other income	1.949	1.825	2.955
	TOTAL INCOME	26.357	23.713	19.361

Less	TOTAL EXPENDITURE (Including Depreciation and Financial Charges)	24.999	22.755	19.043

	PROFIT BEFORE TAX	1.358	0.958	0.318

Less	TAX	0.390	0.307	0.104

	PROFIT AFTER TAX	0.968	0.651	0.214


	Earnings Per Share (Rs.)	62.07	41.72	13.76

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.67	2.74	1.11

Net Profit Margin (PBT/Sales)	(%)	5.56	4.37	1.94

Return on Total Assets (PBT/Total Assets}	(%)	6.27	6.23	2.50

Return on Investment (ROI) (PBT/Networth)		0.16	0.13	0.05

Debt Equity Ratio (Total Liability/Networth)		1.56	1.06	0.87

Current Ratio (Current Asset/Current Liability)		3.10	3.44	5.52

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL RESULT:

During the year, the turnover of the Company was Rs.24.408 millions as against Rs.21.888 millions in the previous year. There was a net profit of Rs.0.968 million (after providing for tax and deferred tax liability) as against corresponding net profit of Rs.0.650 million in the previous year.

FIXED ASSETS:

Land and Building - Land

Factory Shed

Plant and Machinery - Plant and Machinery

Electric Fitting

Television

Camera

Welding Machine

Mobile Phones

Moulds

Vehicles - Motor Car

Scooter

Motor Cycle

Furniture and Fixtures - Type Writer

Computers

Computer Sets

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.49.87
UK Pound	1	Rs.79.72
Euro	1	Rs.69.52

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	NO
--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		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.

MIRA INFORM REPORT

1.958

5.644

4.278

0.000

1.976

13.856

3.307

0.453

0.701

4.462

9.394

3.67

5.56

6.27

0.16

1.56

3.10

Unit