1. Summary Information

		Country	India
Company Name	KRIS FLEXIPACKS PRIVATE LIMITED	Principal Name 1	Mr. Shailesh Gulabchand Sheth
Status	Satisfactory	Principal Name 2	Mr. Rajesh Gulabchand Sheth
		Registration #	11-168369
Street Address	65, Shanti Industrial Estate, S N Road, Mulund (West), Mumbai-400080, Maharashtra, India
Established Date	06.03.2007	SIC Code	--
Telephone#	91-22-67742222	Business Style 1	Manufacturer
Fax #	91-22-67742222	Business Style 2	--
Homepage	http://www.krisflexipacks.com	Product Name 1	Polybags
# of employees	500 (Approximately)	Product Name 2	Sleeved Cups
Paid up capital	Rs.100,000,000 /-	Product Name 3	PVC Shrink Labels
Shareholders	Directors or relatives of directors - 70.00% Bodies corporate - 30.00%	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	5 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (49)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	693,938,000	Current Liabilities	181,790,000
Inventories	309,877,000	Long-term Liabilities	876,778,000
Fixed Assets	686,741,000	Other Liabilities	27,938,000
Deferred Assets	0,000	Total Liabilities	1,086,506,000
Invest& other Assets	71,825,000	Retained Earnings	575,875,000
		Net Worth	675,875,000
Total Assets	1,762,381,000	Total Liab. & Equity	1,762,381,000
Total Assets (Previous Year)	1,633,142,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Total Income	2,401,500,000	Net Profit	134,900,000
Total Income (Previous yr)	2,055,800,000	Net Profit(Prev.yr)	119,429,000

MIRA INFORM REPORT

Report Date :

04.04.2012

IDENTIFICATION DETAILS

Name :	KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 31.07.2007)
Formerly Known As :	NIKITA PLAST INDUSTRIES PRIVATE LIMITED
Registered Office :	65, Shanti Industrial Estate, S N Road, Mulund (West), Mumbai-400080, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.03.2007
Com. Reg. No.:	11-168369
Capital Investment / Paid-up Capital :	Rs.100.000 Millions
CIN No.: [Company Identification No.]	U25209MH2007PTC168369
TAN No.: [Tax Deduction & Collection Account No.]	MUMN14534C
PAN No.: [Permanent Account No.]	AACCN4672Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of High Quality Packaging Products.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2700000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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	A1	A1

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

LOCATIONS

Registered Office :	65, Shanti Industrial Estate, S N Road, Mulund (West), Mumbai-400080, Maharashtra, India
Tel. No.:	91-22-67742222/25907080
Fax No.:	91-22-67742222/67742399/67973894
E-Mail :	kris.legal@krisflexipacks.com cs@pwiconnect.com vijay.l@krisflexipacks.com viral.s@krisflexipacks.com
Website :	http://www.krisflexipacks.com
Area :	They have 6 to 7 Galas in same premises
Location :	Owned
Head Office:	Plot No. A-39, Road No. 11, Wagle Industrial Estate, Thane (West)-400604, Maharashtra, India
Tel No.:	91-22-30948000
Factory :	Located At: · Daman · Pondicherry · Himachal Pradesh
Branch Office :	101 Alpha, Hiranandani Business Park, Powai, Mumbai, Maharashtra, India Also Located At: Bangalore Tirupur New Delhi (NCR) Chennai Pawai Mulund

DIRECTORS

As on 23.07.2011

Name :

Mr. Shailesh Gulabchand Sheth

Designation :

Chairman cum Managing Director

Address :

701, Tara Tower, S. N. Road, Mumlund (West), Mumbai – 400080, Maharashtra, India

1002, Tivoli, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

12.01.1960

Qualification :

B.Com

Date of Appointment :

06.03.2007

Din No.:

00206159

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	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	29-05-92	29-05-92	Amalgamated	NO
2	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22-09-06	22-09-06	Active	NO
3	U74999MH2006PTC165113	METAL TECH PRIVATE LIMITED	Director	10-10-06	10-10-06	Active	NO
4	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
5	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
6	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
7	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
8	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Managing director	06-03-07	06-03-07	Active	NO
9	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
10	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
11	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
12	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10-03-07	10-03-07	Amalgamated	NO
13	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12-03-07	12-03-07	Amalgamated	NO
14	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13-03-07	13-03-07	Amalgamated	NO
15	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24-03-07	24-03-07	Amalgamated	NO
16	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	28-03-07	28-03-07	Amalgamated	NO
17	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03-04-07	03-04-07	Strike off	NO
18	U25199MH2009PTC191477	KRIS AUTOMATED PACKAGING SYSTEMS PRIVATE LIMITED	Director	03-04-09	03-04-09	Active	NO

Name :

Mr. Rajesh Gulabchand Sheth

Designation :

Whole Time Director

Address :

1002, Tivoli, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

23.10.1961

Qualification :

B.Com

Date of Appointment :

06.03.2007

Din No.:

00223733

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	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22-09-06	22-09-06	Active	NO
2	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
3	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
4	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
5	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
6	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	06-03-07	06-03-07	Active	NO
7	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
8	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
9	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
10	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10-03-07	10-03-07	Amalgamated	NO
11	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12-03-07	12-03-07	Amalgamated	NO
12	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13-03-07	13-03-07	Amalgamated	NO
13	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24-03-07	24-03-07	Amalgamated	NO
14	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	28-03-07	28-03-07	Amalgamated	NO
15	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	28-03-07	28-03-07	Amalgamated	NO
16	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03-04-07	03-04-07	Strike off	NO

Name :

Mr. Viresh Gulabchand Sheth

Designation :

Whole Time Director

Address :

1002, Tivoli, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

28.08.1964

Qualification :

B.Com

Date of Appointment :

06.03.2007

Din No.:

00217977

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	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	18-02-99	18-02-99	Amalgamated	NO
2	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22-09-06	22-09-06	Active	NO
3	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
4	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
5	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
6	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
7	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	06-03-07	06-03-07	Active	NO
8	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
9	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
10	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
11	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10-03-07	10-03-07	Amalgamated	NO
12	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12-03-07	12-03-07	Amalgamated	NO
13	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13-03-07	13-03-07	Amalgamated	NO
14	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24-03-07	24-03-07	Amalgamated	NO
15	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	28-03-07	28-03-07	Amalgamated	NO
16	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03-04-07	03-04-07	Strike off	NO
17	U25199MH2009PTC191477	KRIS AUTOMATED PACKAGING SYSTEMS PRIVATE LIMITED	Director	03-04-09	03-04-09	Active	NO

Name :

Mr. Ravi Chaturvedi

Designation :

Director

Address :

750, Ocean Royale Way, 702, Juno Beach, Florida-33408, USA

Date of Birth/Age :

14.11.1959

Date of Appointment :

01.04.2011

Din No.:

02787181

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	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	18-02-99	18-02-99	Amalgamated	NO
2	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22-09-06	22-09-06	Active	NO
3	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
4	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18-12-06	18-12-06	Active	NO
5	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
6	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05-01-07	05-01-07	Active	NO
7	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	06-03-07	06-03-07	Active	NO
8	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
9	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
10	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09-03-07	09-03-07	Amalgamated	NO
11	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10-03-07	10-03-07	Amalgamated	NO
12	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12-03-07	12-03-07	Amalgamated	NO
13	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13-03-07	13-03-07	Amalgamated	NO
14	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24-03-07	24-03-07	Amalgamated	NO
15	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	28-03-07	28-03-07	Amalgamated	NO
16	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03-04-07	03-04-07	Strike off	NO
17	U25199MH2009PTC191477	KRIS AUTOMATED PACKAGING SYSTEMS PRIVATE LIMITED	Director	03-04-09	03-04-09	Active	NO

Name :

Mr. Peranamallur Narayanaswamy Devrajan

Designation :

Director

Address :

A-1, Ground Floor, Nav Munjal Nagar, 2, Chembur, Mumbai-400089, Maharashtra, India

Date of Birth/Age :

15.02.1935

Date of Appointment :

01.04.2011

Din No.:

00003842

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	U72900MH1994PTC083007	TROPICAL TECHNOLOGIES PRIVATE LIMITED	Director	16-11-94	16-11-94	-	Active	NO
2	L85195AP1984PLC004507	DR.REDDY'S LABORATORIES LTD	Director	30-10-00	30-10-00	20-05-08	Active	NO
3	L74210TN2000PLC045167	SHRIRAM EPC LIMITED	Director	11-08-01	11-08-01	12-09-07	Active	NO
4	U29120TN2002PTC049213	GEOMETRIC ENGINEERING CONSTRUCTION PRIVATE LIMITED	Director	09-10-02	09-10-02	10-11-07	Active	NO
5	L15421TN1960PLC004310	KOTHARI SUGARS AND CHEMICALS LIMITED	Director	24-09-03	24-09-03	27-04-09	Active	NO
6	U65993MH2006PLC162533	ESSEL-CENTRUM HOLDINGS LIMITED	Director	08-07-06	08-07-06	-	Active	NO
7	L29221TN1956PLC000204	BEST AND CROMPTON ENGG. LIMITED	Director	22-09-07	31-01-07	07-01-09	Active	NO
8	U72200TN2006PTC059964	SGT INDIA PRIVATE LIMITED	Director	19-10-09	31-03-08	24-02-10	Active	NO
9	U29290MH1987PTC045499	AARVI ENCON PRIVATE LIMITED	Director	01-12-08	01-12-08	-	Active	NO
10	L11101TN1989PLC017347	KOTHARI PETROCHEMICALS LIMITED	Director	18-09-09	24-04-09	-	Active	NO
11	U72200AP2004PTC044250	OGENE SYSTEMS INDIA PRIVATE LIMITED	Director	29-09-09	25-06-09	-	Active	NO
12	U24294TN1982PTC009401	TEX BIOSCIENCES PRIVATE LIMITED	Director	25-08-11	30-09-09	-	Active	NO
13	U24120WB2009PLC153272	MATIX FERTILISERS AND CHEMICALS LIMITED	Director	08-11-10	16-01-10	-	Active	NO
14	U93000DL2010NPL199615	SAHYOG MICRO FINANCE FOUNDATION	Additional director	15-04-10	15-04-10	-	Active	NO
15	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	23-07-11	01-04-11	-	Active	NO
16	U51109WB2007PTC114150	JHILMIL DISTRIBUTORS PRIVATE LIMITED	Additional director	08-11-11	08-11-11	-	Active	NO

Name :

Mr. Govindaraghavan Venkatraman

Designation :

Director

Address :

Flat No.171/172, 17^th Floor, Kalpataru Residency, Sion Circle, Sion (East), Mumbai-400022, Maharashtra, India

Date of Birth/Age :

16.07.1945

Date of Appointment :

01.04.2011

Din No.:

00008683

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	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	29-01-07	29-10-03	-	Active	NO
2	U72200MH1992PLC064816	ESSAR INFORMATION TECHNOLOGY LIMITED	Director	09-12-03	09-12-03	-	Active	NO
3	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	17-08-04	17-08-04	30-04-09	Active	NO
4	U27100GJ2005FLC046273	ESSAR STEEL (HAZIRA) LIMITED	Director	17-06-05	17-06-05	-	Amalgamated	NO
5	U27100GJ2005FLC046274	ESSAR STEEL CHHATTISGARH LIMITED	Director	17-06-05	17-06-05	18-12-08	Active	NO
6	U27100GJ2005PLC046272	ESSAR STEEL JHARKHAND LIMITED	Director	17-06-05	17-06-05	18-12-08	Active	NO
7	U31101DL2005PLC211274	ESSAR POWER (JHARKHAND ) LIMITED	Director	19-10-05	19-10-05	30-04-09	Active	NO
8	U31101DL2005PLC208862	ESSAR POWER (ORISSA) LIMITED	Director	19-08-11	19-10-05	-	Active	NO
9	U13100GJ2006PLC047506	ESSAR MINERAL RESOURCES LIMITED	Additional director	08-07-10	13-01-06	31-08-10	Active	NO
10	U74210MH2006PLC159709	JUBILEE SHIPPING AND LOGISTICS HOLDINGS LIMITED	Director	14-02-06	14-02-06	29-06-07	Active	NO
11	U27104MH2006PLC162609	ESSAR STEEL ORISSA LIMITED	Director	14-06-06	14-06-06	-	Amalgamated	NO
12	U25199GJ2007PLC050164	HAZIRA PIPE MILL LIMITED	Director	06-03-07	06-03-07	18-12-08	Amalgamated	NO
13	U27100GJ2005FLC046055	ESSAR STEEL KARNATAKA LIMITED	Director	02-05-07	02-05-07	17-06-08	Active	NO
14	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	11-08-10	18-02-08	-	Active	NO
15	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	29-09-08	18-02-08	-	Active	NO
16	U70100MH2006FLC159272	ESSAR SEZ HAZIRA LIMITED	Additional director	17-06-08	17-06-08	14-01-09	Active	NO
17	U65923MH2007PLC167381	ESSAR CAPITAL LIMITED	Additional director	17-06-08	17-06-08	01-08-09	Active	NO
18	L65990TN2005PLC071791	ESSAR SECURITIES LIMITED	Director	14-08-09	31-03-09	-	Active	NO
19	U65993MH2007PLC174810	ETHL COMMUNICATIONS HOLDINGS LIMITED	Additional director	13-04-09	13-04-09	-	Active	NO
20	U74999TN2008PTC067735	ESSAR CAPITAL FINANCE PRIVATE LIMITED	Additional director	31-10-09	31-10-09	-	Active	NO
21	U51900MH2006PLC160647	THE MOBILESTORE LIMITED	Director	30-09-10	17-05-10	-	Active	NO
22	L65990MH1984PLC033128	FRONTIER LEASING AND FINANCE LIMITED	Additional director	12-08-10	12-08-10	-	Active	NO
23	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	06-08-11	17-08-10	-	Active	NO
24	U74140MH2010PTC207439	PADMARAG PROJECT AND CORPORATE SERVICES PRIVATE LIMITED	Director	20-09-10	20-09-10	-	Active	NO
25	U13100WB2010PTC140900	GREEN VALLEY ENERGY VENTURES PRIVATE LIMITED	Director	28-12-10	28-12-10	-	Active	NO
26	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Additional director	28-01-11	28-01-11	04-05-11	Active	NO
27	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	23-07-11	01-04-11	-	Active	NO
28	U74999MH2011PLC217380	ESSAR SERVICES INDIA LIMITED	Director	12-05-11	12-05-11	21-01-12	Active	NO
29	U99999MH1989PLC053280	ESSAR PROJECTS (INDIA) LIMITED	Director	09-09-11	18-07-11	-	Active	NO
30	L99999TN1984PLC075902	INDIA SECURITIES LIMITED	Additional director	09-08-11	09-08-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.07.2011

Names of Shareholders	No. of Shares
Shailesh Gulabchand Sheth	2700144
Rajesh Gulabchand Sheth	1349972
Viresh Gulabchand Sheth	1349972
Packaging Destinations Private Limited, India	1599970
Packaging Flexi Business Private Limited, India	699988
Packaging Properties Private Limited, India	699988
Varsha Sheth	799982
Aarti Sheth	399992
Tina V Sheth	399992
TOTAL	10000000

As on 23.07.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	30.00
Directors or relatives of directors	70.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of High Quality Packaging Products.

Products :

· Shrink Sleeves

· Garment Poly Bags

· Industrial Poly Bags

· Retail Bags

· Plastic Hangers

· Wooden Hangers

· Metal Hangers

· Laminates

· LD Shrink

· Wrap-around Labels

· Combi Pack

· Shrink Tunnel

· Moulded Products

· Soft and Rigid PP/PVC Boxes

Item Code No. (ITC Code)	3923.29.90
Product Description	Polybags
Item Code No. (ITC Code)	3923.90.90
Product Description	Sleeved Cups
Item Code No. (ITC Code)	3920.10.19
Product Description	PVC Shrink Labels

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

• The Saraswat Co-Operative Bank Limited, Mulund Branch, Mulund, Mumbai – 400 080, Maharashtra, India
• IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India
• The Saraswat Co-Operative Bank Limited, SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli West, Mumbai – 400 079, Maharashtra, India
• State Bank of India, Mulund, Mumbai, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans financial institutions	285.253	317.916
Working capital loans banks	247.854	346.654
Other debts	274.482	110.441
Total	807.589	775.011
Unsecured Loan
Fully Convertible Debentures	50.000	50.000
Loans directors	17.189	30.130
Total	67.189	80.130

Banking Relations :	--
Auditors :
Name :	K A Gandhi and Associates Chartered Accountant
Address :	14-B, Vaibhav, 1^st Floor, Corner of M G and S L R Mulund (West), Mumbai – 400 080, Maharashtra, India
Tel. No.:	91-22-25675205 / 25686061
Fax No.:	91-22-25686061
Pan No.:	AAJFK1030F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
5000000	Preferences Shares	Rs.10/- each	Rs.50.000 Millions
	Total		Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		100.000	100.000	100.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		575.875	452.602	333.173
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		675.875	552.602	433.173
LOAN FUNDS
1] Secured Loans		809.589	775.011	767.860
2] Unsecured Loans		67.189	80.130	50.625
TOTAL BORROWING		876.778	855.141	818.485
DEFERRED TAX LIABILITIES		24.980	17.623	13.417
TOTAL		1577.633	1425.366	1265.075
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		686.741	670.553	663.526
Capital work-in-progress		6.385	6.435	0.406
INVESTMENT		65.440	69.082	68.581
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	309.877	249.068	209.791
	Sundry Debtors	567.836	536.667	468.900
	Cash & Bank Balances	23.819	14.761	20.653
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	102.283	86.576	74.902
Total Current Assets		1003.815	887.072	774.246
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	194.085
	Other Current Liabilities	181.790	204.964	40.546
	Provisions	2.958	2.812	7.053
Total Current Liabilities		184.748	207.776	241.684
Net Current Assets		819.067	679.296	532.562
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1577.633	1425.366	1265.075

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		2043.182	1677.549
		Other Income		6.552	1.134
		Accretion/ Decretion in stock		6.066	10.202
		TOTAL (A)	2401.500	2055.800	1688.885
Less	EXPENSES
		Material		1458.873	1190.721
		Manufacturing Expenses		64.574	53.026
		Staff Cost	2095.900	83.295	75.150
		Other Expenses		89.348	67.219
		Selling Expenses		69.869	61.908
		TOTAL (B)	2095.900	1765.959	1448.024
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		305.600	289.841	240.861
Less	FINANCIAL EXPENSES (D)		73.600	91.654	105.979
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		232.000	198.187	134.882
Less/ Add	DEPRECIATION/ AMORTISATION (F)		56.100	50.990	46.427
	PROFIT BEFORE TAX (E-F) (G)		175.900	147.197	88.455
Less	TAX (H)		41.000	27.768	8.529
	PROFIT AFTER TAX (G-H) (I)		134.900	119.429	79.926
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		300.400	180.944	101.018
Less	APPROPRIATIONS
		Dividend on Equity Shares	10.000	0.000	0.000
		Corporate Tax on Dividend	1.700	0.000	0.000
	BALANCE CARRIED TO THE B/S		423.600	300.373	180.944
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	71.641	60.412	57.516
	IMPORTS
		Raw Materials	NA	378.199	129.932
		Capital Goods		14.101	29.941
	TOTAL IMPORTS		NA	392.300	159.873
	Earnings Per Share (Rs.)		13.49	11.94	7.99

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.62	5.81	5.52
Net Profit Margin (PBT/Sales)	(%)	NA	7.20	5.27
Return on Total Assets (PBT/Total Assets}	(%)	10.40	9.45	6.15
Return on Investment (ROI) (PBT/Networth)		0.26	0.27	0.20
Debt Equity Ratio (Total Liability/Networth)		1.57	1.92	2.45
Current Ratio (Current Asset/Current Liability)		5.43	4.27	3.20

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors
Sundry creditors capital	0.000	0.000	37.186
Sundry creditors others	0.000	0.000	156.899
Total	0.000	0.000	194.085

REVIEW OF OPERATIONAL PERFORMANCE:

The directors report that the global recession, which adversely affected the economies across the globe, more particularly during the first half of the financial year 2009-10, gradually showed a reversal trend, as a result whereof, the Company could report improved performance during the year, in terms of revenue and profitability. The directors are confident that, barring unforeseen circumstances, this trend will continue in the current year as well.

During the year, the company earned total income of Rs. 2401.500 Millions as compared to Rs. 2055.700 Millions in the previous year, representing an increase of 16.82%. After providing for depreciation and taxation, Profit after Tax during the year was Rs. 135.000 Millions as compared to that of Rs. 119.400 Millions in the previous year, representing an increase of 13%. The working has resulted in an enhanced Basic Earning per share (EPS) at Rs. 13.49 as compared to Rs. 11.94 in the previous year.

FIXED ASSETS:

• Land
• Building
• Plant and Machinery
• Office Equipment
• Factory Equipment
• Motor Car
• Motor Cycle
• Motor Truck-Eicher
• Vehicles
• Furniture and Fixtures
• Components
• Telephone Instrument
• Electrical Fittings
• Dies and Moulds
• Air Conditioner
• Trade Mark
• Software – ERP

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.81.05
Euro	1	Rs.67.48

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		49

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.