MIRA INFORM REPORT

Report Date :

17.08.2012

IDENTIFICATION DETAILS

Name :	REPRO GRAPHICS PRIVATE LIMITED
Registered Office :	Flat No. 19, 3^rd Floor, Mahalaxmi Industrial Estates, Gandhi Nagar, Lower Parel, Mumbai - 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.11.2006
Com. Reg. No.:	11-165342
Capital Investment / Paid-up Capital :	Rs.20.000 Millions
CIN No.: [Company Identification No.]	U51103MH2006PTC165342
TAN No.: [Tax Deduction & Collection Account No.]	MUMR20903B
PAN No.: [Permanent Account No.]	AADCR4294F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Printing Consumables.
No. of Employees :	87 (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 123000
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.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Ms. Shweta Thackray
Designation :	Senior Accountant
Contact No.:	91-9870498034
Date :	16.08.2012

LOCATIONS

Registered/ Head/ Branch Office :	Flat No. 19, 3^rd Floor, Mahalaxmi Industrial Estates, Gandhi Nagar, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-43680808 (30 Lines)/ 24970800
Mobile No.:	91-9870498034 (Ms. Shweta Thackray)
Fax No.:	91-22-43680888
E-Mail :	shbhe_2000@yahoo.com infomumbai@reprographicsindia.in acctsmumbai@reprographicsindia.in
Website :	www.reprographicsindia.in
Area :	1000 sq. ft.
Location :	Rented
Branches:	Located At · Hyderabad · Delhi · Chennai

DIRECTORS

(AS ON 29.09.2011)

Name :	Mr. Sureshbabu Kesavan Bharathan
Designation :	Managing Director
Address :	Kannans Vettilathazham Decent Junction, Kollam Kerala
Date of Birth/Age :	20.04.1957
Date of Appointment :	02.11.2006
DIN No :	00571799
Name :	Mr. Manoj K. Bharathan
Designation :	Director
Address :	Aswathy Decent Junction, P O Mukhathala, Quilon 691577 Kerala
Date of Birth/Age :	20.05.1969
Date of Appointment :	02.11.2006
DIN No :	00571838
Name :	Mr. Anoop Suresh Babu
Designation :	Director
Address :	3/570-B, Govindan Nagar, Palavakkam, Chennai – 600041, Tamilnadu, India
Date of Birth/Age :	17.12.1990
Date of Appointment :	22.01.2011
DIN No :	03385610
Name :	Mr. Gandhi Suresh Babu
Designation :	Director
Address :	Kannans Vettilathazham Decent Junction, Kollam Kerala
Date of Birth/Age :	12.02.1989
Date of Appointment :	22.01.2011
DIN No :	03385669

KEY EXECUTIVES

Name :	Ms. Shweta Thackray
Designation :	Senior Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2011)

Names of Shareholders	No. of Shares
Sureshbabu Kesavan Bharathan	1400000
Manoj K. Bharathan	200000
Anoop Suresh Babu	200000
Gandhi Suresh Babu	200000
Total	2000000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Printing Consumables
Exports :
Products :	Printing Consumables
Countries :	Gulf Countries
Imports :
Products :	Raw Materials
Countries :	European Countries
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Weilburger Graphics

Customers :

End users

· Numex Blocks India Private Limited

No. of Employees :

87 (Approximately)

Bankers :

· Union Bank of India,

Mahim (West) Branch, Carol Mansion, 35, Sitaladevi Temple Road, Mahim (West), Mumbai-400016, Maharashtra, India

· ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Term Loan Vehicle Loans from Non Banking Finance Company (Secured against assets purchased there against)	0.754	0.000
Working Capital Loan Front Union Bank of India (Secured by hypothecation of Stocks and book debt and Collaterally Secured by Equitable Mortgage of Immovable Properties of the Directors and Personnel Guarantees of the Director and Fixed Deposit of the Company)	26.884	0.000
Total	27.638	0.000
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Directors	39.972	10.372
Total	39.972	10.372

Banking Relations :	--
Auditors :
Name :	J. Kala and Associates Chartered Accountants
Address :	504, Rainbow Chambers, Near MTNL Exchange, S.V. Road, Kandivali (West), Mumbai – 400 067, Maharashtra, India
Tel No.:	91-22-28625129
PAN No.:	AACFJ5165F
Associates/Subsidiaries :	· Anup Plastics, Dubai

CAPITAL STRUCTURE

(AS ON 29.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 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		20.000	0.100	0.100
2] Share Application Money		0.000	20.000	0.000
3] Reserves & Surplus		10.727	1.360	0.000
4] (Accumulated Losses)		0.000	0.000	(4.383)
NETWORTH		30.727	21.460	(4.283)
LOAN FUNDS
1] Secured Loans		27.638	0.000	0.000
2] Unsecured Loans		39.972	10.372	15.923
TOTAL BORROWING		67.610	10.372	15.923
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		98.337	31.832	11.640
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.887	4.780	1.819
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.270	0.218	1.878
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	93.307	37.613	26.006
	Sundry Debtors	46.428	23.416	13.073
	Cash & Bank Balances	5.089	5.262	3.787
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	10.384	2.340	1.297
Total Current Assets		155.208	68.631	44.163
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	56.860	39.898	35.490
	Other Current Liabilities	2.033	0.664	0.713
	Provisions	6.135	1.235	0.017
Total Current Liabilities		65.028	41.797	36.220
Net Current Assets		90.180	26.834	7.943
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		98.337	31.832	11.640

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	180.480	90.578	40.281
		Other Income	2.606	3.773	NA
		Increase/ (Decrease) in Stock	55.694	11.606	NA
		TOTAL	238.780	105.957	NA
Less	EXPENSES
		TOTAL	224.564	96.779	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		15.726	9.178	(0.691)
Less/ Add	DEPRECIATION/ AMORTISATION		1.510	0.744	0.485
	PROFIT BEFORE TAX		14.216	8.434	(1.176)
Less	TAX		4.848	2.690	(0.305)
	PROFIT AFTER TAX		9.368	5.744	(0.871)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.360	(4.384)	(3.513)
	BALANCE CARRIED TO THE B/S		10.728	1.360	(4.384)
	Earnings Per Share (Rs.)		11.39	574.40	(87.10)

Particulars	31.03.2012
Sales Turnover (Approximately)	250.000

Expected Sales (2012-13): Rs.270.000 Millions

The above information has been parted by Ms. Shweta Thackray.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.92	5.42	NA
Net Profit Margin (PBT/Sales)	(%)	7.88	9.31	(2.92)
Return on Total Assets (PBT/Total Assets}	(%)	8.72	11.49	(2.46)
Return on Investment (ROI) (PBT/Networth)		0.46	0.39	0.27
Debt Equity Ratio (Total Liability/Networth)		4.32	2.43	(12.17)
Current Ratio (Current Asset/Current Liability)		2.39	1.64	1.21

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Goods Supplied	53.771	38.856	35.006
Expenses	3.089	1.042	0.484
Total	56.860	39.898	35.490

Sr. No.	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	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

The Registered Office of the company has been shifted from 320, Vasan Udyog Bhavan, Opposite Phoenix Mills, Senapti Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India to the present address w.e.f. 19.09.2009

TRADE REFERENCE:

· Weilburger Graphics

· Numex Blocks India Private Limited

PERFORMANCE

For the financial year, the total Sales of the Company is Rs.180.480 Millions. The Company has incurred profit after tax of Rs.9.368 Millions.

FORM 8

Corporate identity number of the company	U51103MH2006PTC165342
Name of the company	REPRO GRAPHICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat no. 19, 3rd Floor, Mahalaxmi Industrial Estate, Gandhi Nagar, Lower Parel, Mumbai – 400013, Maharashtra, India shbhe_2000@yahoo.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10316010
Type of charge	Others: Charge on book debts and stock
Particular of charge holder	ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India abhijit.singnapurkar@icicibank.com
Nature of instrument creating charge	Deed of Hypothecation dated 03/07/2012
Date of instrument Creating the charge	03/07/2012
Amount secured by the charge	Rs.70.000 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest I Base + 3.5% Terms of repayment Cash credit - on demand Margin 90 days cover period on book debts and 25% margin on stock and book debts Extent and operation of the charge First and exclusive charge on book debts and receivables as per deed of hypothecation
Short particulars of the property charged (Including location of the property)	First and exclusive charge on book debts and stock as per deed of hypothecation
Date of last modification prior to the present modification	22/02/2012
Particulars of the present modification	Enhancement in cash credit limit from Rs.55 million to Rs. 65 million. They are enhancing the charge on stock and receivables.

FIXED ASSETS

· Building

· Plant and Machinery

· Computers

· Office Equipments

· Furniture and Fixtures

· Motor Car

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.55.64
UK Pound	1	Rs.87.31
Euro	1	Rs.68.81

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	YES
--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		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.