MIRA INFORM REPORT

Report Date :

06.04.2012

IDENTIFICATION DETAILS

Name :	CONSUMER MARKETING (INDIA) PRIVATE LIMITED
Registered Office :	30, Omkar House, C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.04.2002
Com. Reg. No.:	04-040595
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U51909GJ2002PTC040595
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Distributor and Importer of Consumer products mainly Olive Oil and Olive Fruits.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 130000
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.

INFORMATION PARTED BY

Name :	Mr. Rajesh
Designation :	Account Incharge
Contact No.:	91-79-28501800
Date :	05.04.2012

LOCATIONS

Registered Office :	30, Omkar House, C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-26462539
Fax No.:	91-79-26563388
E-Mail :	yashwantanekar@yahoo.co.in office@cmipl.net
Website :	www.cmipl.net
Area :	1000 Sq. Ft.
Location :	Owned
Administrative Office :	201, Dhantak Plaza, Mukwaha Road, Marol, Andheri (East), Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-28501800 / 22076359
Fax No.:	91-22-22077637

DIRECTORS

As on 24.09.2011

Name :	Mr. Natwar Lal Babu Lal Sharma
Designation :	Director
Address :	Salasar, Thesil Sujangadh, District Churu, Sujangadh - 331 504, Rajasthan, India
Date of Appointment :	08.02.2008
DIN No.:	02010163
Name :	Mr. Balkishan Madanlal Adukia
Designation :	Director
Address :	9, Hundiwala Apartments, Copry Colony, Thane (East), Mumbai - 400 603, Maharashtra, India
Date of Appointment :	03.07.2006
DIN No.:	00080662
Name :	Mrs. Lalitadevi Balkishan Adukia
Designation :	Director
Address :	9, Hundiwala Apartments, Copry Colony, Thane (East), Mumbai - 400 603, Maharashtra, India
Date of Appointment :	02.04.2002
DIN No.:	00080571
Name :	Mr. Mangi Lal Damodar Lal Sharma
Designation :	Director
Address :	Banwarilal Natwarlal, Salasar, Churu -331504, Rajasthan, India
Date of Appointment :	08.02.2008
DIN No.:	02010061

KEY EXECUTIVES

Name :	Mr. Rajesh
Designation :	Account Incharge

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	No. of Shares
Lalitadevi Balkishan Adukia	95000
Balkishan Madanlal Adukia	5000
Total	100000

As on 24.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.000
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Distributor and Importer of Consumer products mainly Olive Oil and Olive Fruits.
Imports :
Products :	· Olive Oil · Olive Fruits
Countries :	· Italy · Spain
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

100 (Approximately)

Bankers :

· The Hongkong and Shanghai Banking Corporation Limited, 52-60, Mahatma Gandhi Road, Mumbai - 400001, Maharashtra, India

· CITI Bank N. A., CITI Tower, Dr. S. S. Rao Road, Parel, Mumbai - 400012, Maharashtra, India

· ICICI Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Buyers Credit Loan	0.000	3.913
Term Loan from ICICI Bank (against Hypothecation of Office Premises )	0.054	4.990
Term Loan from CITI Bank (against Hypothecation of Home Premises )	12.305	13.535
Vehicle Loan from ICICI Bank (against Hypothecation of Motor Car)	3.406	4.300
Total	15.765	26.738

Banking Relations :	--
Auditors :
Name :	O P Bhandari and Company Chartered Accountants
PAN.:	AAAFO6762H

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		32.590	20.444	19.932
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		33.590	21.444	20.932
LOAN FUNDS
1] Secured Loans		15.765	26.738	18.724
2] Unsecured Loans		0.000	0.000	0.900
TOTAL BORROWING		15.765	26.738	19.624
DEFERRED TAX LIABILITIES		0.364	0.563	0.000
TOTAL		49.719	48.745	40.556
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		51.520	47.110	29.868
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.034	0.034	0.034
DEFERREX TAX ASSETS		0.000	0.000	0.126
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	71.625	74.232	70.464
	Sundry Debtors	8.927	20.032	20.516
	Cash & Bank Balances	8.398	31.937	7.513
	Other Current Assets	0.846	0.792	0.453
	Loans & Advances	16.916	9.669	20.344
Total Current Assets		106.712	136.662	119.290
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	88.407	117.346	93.625
	Other Current Liabilities	17.213	13.254	10.993
	Provisions	2.931	4.470	4.158
Total Current Liabilities		108.551	135.070	108.776
Net Current Assets		(1.839)	1.592	10.514
MISCELLANEOUS EXPENSES		0.004	0.009	0.014
TOTAL		49.719	48.745	40.556

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	725.467	661.707	481.928
		Other Income	11.127	13.509	1.135
		TOTAL (A)	736.594	675.216	483.063
Less	EXPENSES
		Purchases	326.607	352.646	237.750
		Direct Expenses	58.448	51.396	59.703
		Payment to and Provision for Employees	25.625	19.278	15.259
		Administrative & General Expenses	21.703	24.218	12.768
		Selling & Distribution Charges	282.041	221.513	173.733
		(Increase)/Decrease in Stock	2.608	(3.768)	(39.317)
		TOTAL (B)	717.032	665.283	459.896
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		19.562	9.933	23.167
Less	FINANCIAL EXPENSES (D)		2.830	2.636	12.232
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		16.732	7.297	10.935
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.132	1.113	1.066
	PROFIT BEFORE TAX (E-F) (G)		13.600	6.184	9.869
Less	TAX (H)		0.292	4.502	3.049
	PROFIT AFTER TAX (G-H) (I)		13.308	1.682	6.820
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		17.062	16.970	13.025
Less	APPROPRIATIONS
		Proposed dividend	1.000	1.000	1.000
		Dividend distribution tax	0.162	0.170	0.170
		Transfer to General Reserve	3.327	0.420	1.705
	BALANCE CARRIED TO THE B/S		25.881	17.062	16.970
	TOTAL EARNINGS		0.000	11.190	0.000
	TOTAL IMPORTS		297.146	305.357	237.751
	Earnings Per Share (Rs.)		13.31	16.82	68.20

Expected Sales (2011-2012) : Rs.800.000 Millions

The above information has been parted by Mr. Rajesh.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.81	0.25	1.41
Net Profit Margin (PBT/Sales)	(%)	1.87	0.93	2.05
Return on Total Assets (PBT/Total Assets}	(%)	8.59	3.37	6.62
Return on Investment (ROI) (PBT/Networth)		0.40	0.29	0.47
Debt Equity Ratio (Total Liability/Networth)		3.70	7.55	6.13
Current Ratio (Current Asset/Current Liability)		0.98	1.01	1.10

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditor Details:

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors
- For Goods	86.635	78.412	71.417
- For Expenses	1.772	38.934	22.208
Total	88.407	117.346	93.625

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 two years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
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

Corporate identity number of the company	U51909GJ2002PTC040595
Name of the company	CONSUMER MARKETING (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	30, Omkar House, C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India E—mail : yashwantanekar@yahoo.co.in
This form is for	Creation of charge
Type of charge	· Book debts · Others (Exclusive charge on S and R (present and future)
Particular of charge holder	The Hongkong and Shanghai Banking Corporation Limited, 52-60, Mahatma Gandhi Road, Mumbai - 400001, Maharashtra, India E-mail : pareshmehta@hsbc.co.in
Nature of instrument creating charge	Exclusive charge on all Stock and Book Debts (present and future)
Date of instrument Creating the charge	03.05.2011
Amount secured by the charge	Rs.98.655 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be payable by the Company on the banking facilities as per Banks tariff, subject however that the Bank shall have the right to change the rate of interest after giving notice to the Company Terms of Repayment In consideration of Banking facilities sanctioned/to be sanctioned by the Bank to the Company, the Company has hypothecated and charged to the Bank by way of exclusive charge as a continuing security, the assets mentioned in the Deed of Hypothecation to secure the repayments of the advances together with interest cost and all other charges Margin The Company shall maintain such margin as may be specified by the Bank from time to time. Extent and Operation of the charge In case the Company fails to fulfill its obligations under the Agreement, the Bank shall be entitled to take possession of the hypothecated properties and sell them by public auction or private contract and utilize the proceeds in full or part settlement of its claims
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on entire Stocks and receivables (present and future)

Fixed Assets:

· Office Premises

· Furniture and Fixture

· Computer and software

· Office Equipments

· Air Conditioner

· Motor Car

· Residential Flat

· Warehouse Premises

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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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		45

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.