MIRA INFORM REPORT

Report Date :

31.10.2011

IDENTIFICATION DETAILS

Name :	Q E D PACKERS PRIVATE LIMITED
Registered Office :	193, Sukhdev Vihar, New Delhi-110065
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.05.2001
Com. Reg. No.:	110725
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U74950DL2001PTC110725
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of a Gamut of products meant for medical uses.
No. of Employees :	Approximately 54

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 9000
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. It’s scale of activities are limited. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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. Piyush Ahuja
Designation :	Director
Contact No.:	91-9810610092
Date :	22.10.2011

LOCATIONS

Registered Office :	193, Sukhdev Vihar, New Delhi-110065, India
Mobile No.:	91-9810610092 (Mr. Piyush)
E-Mail :	nkpahawa@yahoo.com
Factory :	A-7/59, South Side Road Industrial Area, Ghaziabad-201002, Uttar Pradesh, India
Tel. No.:	91-120-4561422
Fax No.:	91-120-4114773

DIRECTORS

(AS ON 30.09.2010 )

Name :

Mr. Peeyush Ahuja

Designation :

Director

Address :

R-2/68, Raj Nagar, Ghaziabad-201001, Uttar Pradesh, India

Date of Birth/Age :

04.10.1976

Qualification :

M.B.A.

Date of Appointment :

01.09.2003

DIN No.:

01681421

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	U74950DL2001PTC110725	Q E D Packers Private Limited	Director	01/09/2003	01/09/2003	-	Active	NO
2	U72900UP2010PTC042483	Ayry Infotech Private Limited	Director	04/11/2010	04/11/2010	-	Active	NO

Name :

Mr. Himnshu Ahuja

Designation :

Director

Address :

R-2/68, Raj Nagar, Ghaziabad-201001, Uttar Pradesh, India

Date of Birth/Age :

01.10.1972

Qualification :

B.Com

Date of Appointment :

01.09.2003

DIN No.:

00958670

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Himanshu Ahuja	10000
Aruna Ahuja	30000
Peeyush Ahuja	10000
Total	50000

Equity Share Breakup (Percentage of Total Equity)

(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 a Gamut of products meant for medical uses.
Products :	· Paper Rolls · Sterilized Paper Rolls · Silica Gels · Desiccants · Chromatographic Columns · Blood Bags · Drain Bags · Autoclave Films · Poly Sterile Wraps · Clean Room Garments · Wipes · Pouches · Silica Gel Pouches · Rolls · Gusseted Pouches · Paper Gloves etc.
Exports :
Products :	Paper Gloves and Paper Rolls
Countries :	Mauritius
Terms :
Purchasing :	L/C and Cash

GENERAL INFORMATION

Suppliers :

Uflex Company

Customers :

OEM’s

· B-Brom

No. of Employees :

Approximately 54

Bankers :

State Bank of India, RASMECCC Branch, Industrial Area, B.S. Road, Ghaziabad-201001, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From SBI Ghaziabad	2.318	1.017
From SBI Ghaziabad (Term Loan for Building)	0.416	0.654
From Kotak Mahindra	0.181	0.000
From Bajaj Auto Finance	0.914	0.000
From Indusind Bank	0.130	0.000
From SBI Ghaziabad (Term Loan for Machinery)	0.000	0.162
From Tata Motors (For car)	0.175	0.258
Total	4.134	2.091
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors and relatives	1.219	1.262
Total	1.219	1.262

Banking Relations :	--
Auditors :	Navin Pahwa and Company Chartered Accountant
Name :	48, Navyug Market, Ghaziabad-201001, Uttar Pradesh, India
PAN NO.:	AAEFN8204H

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Share	Rs. 10/- each	Rs. 1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs. 10/- each	Rs. 0.500 Million

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		0.500	0.500	0.500
2] Share Application Money		0.980	0.000	0.000
3] Reserves & Surplus		0.784	0.809	0.514
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.264	1.309	1.014
LOAN FUNDS
1] Secured Loans		4.134	2.091	1.887
2] Unsecured Loans		1.219	1.262	1.262
TOTAL BORROWING		5.353	3.353	3.149
DEFERRED TAX LIABILITIES		0.369	0.122	0.239
TOTAL		7.986	4.784	4.402
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.874	5.406	4.867
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	9.781	4.145	2.052
	Sundry Debtors	0.779	1.206	1.874
	Cash & Bank Balances	0.162	0.271	0.180
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.262	0.612	0.669
Total Current Assets		10.984	6.234	4.775
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.003	4.987	5.240
	Other Current Liabilities	0.039	0.024
	Provisions	3.830	1.845
Total Current Liabilities		8.872	6.856	5.240
Net Current Assets		2.112	[0.622]	[0.465]
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.986	4.784	4.402

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	14.714	14.593
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.610	0.535
Less/ Add	DEPRECIATION/ AMORTISATION		0.350	0.300
	PROFIT BEFORE TAX		0.260	0.235

Particulars	31.03.2011
Sales Turnover (Approximately)	20.000

Expected Sales (2011-2012) : Rs. 50.000

The above information has been parted by Mr. Peeyush Ahuja

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Net Profit Margin (PBT/Sales)	(%)	1.77	1.61	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.54	2.02	NA
Return on Investment (ROI) (PBT/Networth)		0.11	0.18	NA
Debt Equity Ratio (Total Liability/Networth)		6.28	7.80	8.27
Current Ratio (Current Asset/Current Liability)		1.24	0.91	0.91

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the firm	Yes
Constitutions 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 1 year	Yes
Profitability for last three years	No
Reasons for Variation <> 20%`	--
Estimation for coming financial year	Yes
Capital in the business	No
Details of sister concern	--
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	Yes
Export/ Import Details (If applicable)	Yes
Market Information	--
Litigations that the firm/ Promoter involved in	--
Banking Details	Yes
Banking Facility details	Yes
Conduct of the banking account	--
Buyer visit details	--
Financials, fi provided	Yes
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders , if available	--

Trade References:

· Uflex Company

· B-Brom

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	90038909
Corporate identity number of the company	U74950DL2001PTC110725
Name of the company	Q E D PACKERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	193, Sukhdev Vihar, New Delhi-110065, India
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, RASMECCC Branch, Industrial Area, B.S. Road, Ghaziabad-201001, Uttar Pradesh, India Email: jkscond@gmail.com
Nature of description of the instrument creating or modifying the charge	Letter of Confirmation for extension of Mortgage by deposit of Title deeds
Date of instrument Creating the charge	27.06.2009
Amount secured by the charge	Rs. 3.302 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be charged at the rate of 0.75 percent above State Bank Advance Rate (At present SBAR = 12.25 percent) (Present Effective Rate = 13.00 percent per annum) with monthly rests. Terms of Repayment As per sanction terms Margin On Raw Materials- Indigenous: 25 percent On Semi Finished Goods : 25 Percent On Finished Goods: 25 Percent On Components/ Consumables / Spares: 25 percent On Domestic Receivables : 40 Percent Extent and Operation of the charge The company’s immovable properties are mortgaged to collaterally secure the following credit facilities aggregating to Rs. 3.302 Millions granted by the bank to the borrower: Cash Credit: Rs. 2.500 Millions Term Loan –I: Rs. 0.661 Million Term Loan –II: Rs. 0.141 Million Total: Rs. 3.302 Millions
Short particulars of the property charged	Equitable Mortgage by deposit of Title Deeds in respect of Company’s immovable properties situated at Plot No. A-7/59, South Side of G.T. Road, Industrial Area, Ghaziabad
Date of latest modification prior to the present modification	27.06.2009
Particulars of the present modification	The enhanced credit facilities aggregating to Rs. 3.302 Millions shall now also be collaterally secured by way of Equitable mortgage by deposit of title deeds in respect of company’s immovable properties.

Fixed Assets:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipments

· Moulds And Dies

· Generator

· Car

· Motor Cycle

· Tools

· Computer

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.48.82
UK Pound	1	Rs.78.57
Euro	1	Rs.69.29

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
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	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
-	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.