MIRA INFORM REPORT

Report Date :

20.08.2012

IDENTIFICATION DETAILS

Name :	PRESCIENT COLOR LIMITED

Registered Office :	162, Wellesley Road, Pune – 411 001, Maharashtra

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	23.06.2006

Com. Reg. No.:	11-128651

Capital Investment / Paid-up Capital :	u24229PN2006PLC128651

CIN No.: [Company Identification No.]	Rs.100.000 millions

TAN No.: [Tax Deduction & Collection Account No.]	PNEP10646G

PAN No.: [Permanent Account No.]	AADCP9591P

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer of plastic colour, single pigment concentrates, single colourant, master batches/ property master batches.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 213000

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is a subsidiary of Sudarshan Chemical Industries Limited. It is an established company having moderate track. It has recorded an increase in its sales turnover during 2011. Accumulated losses recorded by the company appears to be reducing. 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 – June 30, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

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

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.

LOCATIONS

Registered Office :	162, Wellesley Road, Pune – 411 001, Maharashtra, India
Tel. No.:	91-20-26058888
Fax No.:	91-20-26058222
E-Mail :	rohit.rathi@prescientcolor.com rkrathi@sudarshan.com sktalegaonkar@sudarshan.com
Website :	http://prescientcolor.com
Location :	Owned

Main Office and Factory :	Gat No.1162 / Old Gat No.329, Pirangut Village, Taluka – Mulshi, District Pune, 412 108, Maharashtra, India
Tel. No.:	91-20-66521509/ 66521529/ 22908000
Fax No.:	91-20-66521500/ 22908111
Area :	3 Acres
Location :	Owned

DIRECTORS

As on 24.05.2012

Name :

Mr. Kishor Laxminarayan Rathi

Designation :

Director

Address :

C-4, Abhimanshree Society , Pashan Road, Pune – 411 008, Maharashtra, India

Date of Birth/Age :

27.10.1938

Date of Appointment :

23.06.2006

DIN No.:

00018567

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	Director	31/10/1975	31/10/1975	Active	NO
2	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Whole-time director	29/06/1995	29/06/1995	Active	NO
3	U65993PN1982PTC026385	LAXMINARAYAN FINANCE PRIVATE LIMITED	Director	30/09/1997	30/09/1997	Active	NO
4	U51909PN1999PLC014039	RATHI BROTHERS POONA LIMITED	Director	01/10/1999	01/10/1999	Active	NO
5	U51909PN2000PLC015170	RATHI BROTHERS CALCUTTA LIMITED	Director	01/08/2000	01/08/2000	Active	NO
6	U51909PN2000PLC015169	RATHI BROTHERS MADRAS LIMITED	Director	01/08/2000	01/08/2000	Active	NO
7	U28939PN1996PTC098813	I.W.TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	22/09/2000	22/09/2000	Active	NO
8	U51909PN2002PLC016869	RATHI BROTHERS DELHI LIMITED	Director	01/04/2002	01/04/2002	Active	NO
9	U13000PN1998PTC013000	RATHI LIGHTNIN MIXERS PRIVATE LIMITED	Director	22/03/2003	22/03/2003	Active	NO
10	U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	Director	23/06/2006	23/06/2006	Active	NO
11	U74900PN2008PTC131279	AUGUST PURIFICATION SYSTEMS PRIVATE LIMITED	Director	16/01/2008	16/01/2008	Strike off	NO
12	U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	Director	06/08/2008	06/08/2008	Active	NO
13	U29299PN2008PTC132660	RATHI VESSELS AND SYSTEMS PRIVATE LIMITED	Director	21/08/2008	21/08/2008	Active	NO

Name :

Mr. Pradeep Ramwilas Rathi

Designation :

Director

Address :

2, Boat Club Road, Pune – 411 001, Maharashtra, India

Date of Birth/Age :

20.05.1953

Date of Appointment :

23.06.2006

DIN No.:

00018577

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U70101WB1988PTC045839	GPSK CAPITAL PRIVATE LIMITED	Director	27/02/1995	27/02/1995	Active	NO
2	L74999MH1995PLC087643	LAHOTI OVERSEAS LIMITED	Director	02/06/1995	02/06/1995	Active	NO
3	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Managing director	08/11/1995	08/11/1995	Active	NO
4	L24100MH1972PLC016149	THIRUMALAI CHEMICALS LIMITED	Director	27/07/1999	27/07/1999	Active	NO
5	U51909PN1999PLC014039	RATHI BROTHERS POONA LIMITED	Director	01/10/1999	01/10/1999	Active	NO
6	U51909PN2000PLC015170	RATHI BROTHERS CALCUTTA LIMITED	Director	01/08/2000	01/08/2000	Active	NO
7	U51909PN2000PLC015169	RATHI BROTHERS MADRAS LIMITED	Director	01/08/2000	01/08/2000	Active	NO
8	U51909PN2002PLC016869	RATHI BROTHERS DELHI LIMITED	Director	01/04/2002	01/04/2002	Active	NO
9	U17119MH1940PTC003210	RATHI BROTHERS PRIVATE LIMITED	Director	22/03/2003	22/03/2003	Active	NO
10	U28939PN1996PTC098813	I.W.TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	29/09/2003	29/09/2003	Active	NO
11	U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	Director	29/09/2003	29/09/2003	Active	NO
12	U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	Director	23/06/2006	23/06/2006	Active	NO
13	U65910PN1982PTC026387	PRR FINANCE PVT LTD	Director	27/06/2006	27/06/2006	Active	NO
14	U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	Director	15/12/2006	15/12/2006	Active	NO
15	U13000PN1998PTC013000	RATHI LIGHTNIN MIXERS PRIVATE LIMITED	Director	12/03/2007	12/03/2007	Active	NO
16	L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	Director	27/07/2007	12/04/2007	Active	NO
17	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	10/05/2007	10/05/2007	Active	NO
18	U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	Director	06/08/2008	06/08/2008	Active	NO
19	U29299PN2008PTC132660	RATHI VESSELS AND SYSTEMS PRIVATE LIMITED	Director	21/08/2008	21/08/2008	Active	NO

Name :

Mr. Narayandas Jagannath Rathi

Designation :

Director

Address :

113/3, Koregaon Park , Lane No.4 A, Pune – 411 001, Maharashtra, India

Date of Birth/Age :

18.06.1935

Date of Appointment :

23.06.2006

DIN No.:

00018597

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U65999MH1982PTC026381	NJR FINANCE PRIVATE LIMITED	Director	30/09/1996	30/09/1996	Active	NO
2	U51909PN1999PLC014039	RATHI BROTHERS POONA LIMITED	Director	01/10/1999	01/10/1999	Active	NO
3	U51909PN2000PLC015170	RATHI BROTHERS CALCUTTA LIMITED	Director	01/08/2000	01/08/2000	Active	NO
4	U51909PN2000PLC015169	RATHI BROTHERS MADRAS LIMITED	Director	01/08/2000	01/08/2000	Active	NO
5	U24211DL1970NPL005200	CROP CARE FEDERATION OF INDIA	Director	28/09/2001	28/09/2001	Active	NO
6	U51909PN2002PLC016869	RATHI BROTHERS DELHI LIMITED	Director	01/04/2002	01/04/2002	Active	NO
7	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Director	16/08/2010	30/01/2003	Active	NO
8	U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	Director	30/09/2004	30/09/2004	Active	NO
9	U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	Director	23/06/2006	23/06/2006	Active	NO
10	U28939PN1996PTC098813	I.W.TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	22/03/2007	22/03/2007	Active	NO
11	U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	Director	06/08/2008	06/08/2008	Active	NO
12	U29299PN2008PTC132660	RATHI VESSELS AND SYSTEMS PRIVATE LIMITED	Director	21/08/2008	21/08/2008	Active	NO

Name :

Mr. Rajesh Balkrishna Rathi

Designation :

Director

Address :

94/13/34, Lane No.11, Prabhat Road, Pune – 411 004, Maharashtra, India

Date of Birth/Age :

13.11.1968

Date of Appointment :

23.06.2006

DIN No.:

00018628

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U17119MH1940PTC003210	RATHI BROTHERS PRIVATE LIMITED	Director	30/09/1997	30/09/1997	Active	NO
2	U65999PN1982PTC026383	BALKRISHNA RATHI FINANCE PRIVATE LIMITED	Director	30/09/1998	30/09/1998	Active	NO
3	U51909PN1999PLC014039	RATHI BROTHERS POONA LIMITED	Director	01/10/1999	01/10/1999	Active	NO
4	U51909PN2000PLC015170	RATHI BROTHERS CALCUTTA LIMITED	Director	01/08/2000	01/08/2000	Active	NO
5	U51909PN2000PLC015169	RATHI BROTHERS MADRAS LIMITED	Director	01/08/2000	01/08/2000	Active	NO
6	U51909PN2002PLC016869	RATHI BROTHERS DELHI LIMITED	Director	01/04/2002	01/04/2002	Active	NO
7	U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	Director	23/06/2006	23/06/2006	Active	NO
8	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Whole-time director	23/05/2008	23/05/2008	Active	NO
9	U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	Director	06/08/2008	06/08/2008	Active	NO
10	U29299PN2008PTC132660	RATHI VESSELS AND SYSTEMS PRIVATE LIMITED	Director	21/08/2008	21/08/2008	Active	NO
11	U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	Additional director	30/06/2012	30/06/2012	Active	NO

Name :

Mr. Rohit Kishor Rathi

Designation :

Managing Director

Address :

C-4, Abhimanshree Society, Pashan Road, Pune – 411 008, Maharashtra, India

Date of Birth/Age :

09.08.1974

Date of Appointment :

01.04.2009

DIN No.:

00018654

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U17119MH1940PTC003210	RATHI BROTHERS PRIVATE LIMITED	Director	30/09/1997	30/09/1997	Active	NO
2	U65993PN1982PTC026385	LAXMINARAYAN FINANCE PRIVATE LIMITED	Director	30/09/1997	30/09/1997	Active	NO
3	U51909PN2002PLC016869	RATHI BROTHERS DELHI LIMITED	Director	01/04/2002	01/04/2002	Active	NO
4	U74900PN2008PTC131279	AUGUST PURIFICATION SYSTEMS PRIVATE LIMITED	Director	16/01/2008	16/01/2008	Strike off	NO
5	U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	Managing director	01/04/2009	01/04/2009	Active	NO

KEY EXECUTIVES

Name :	Mr. Swapnil Kishor Talegaonkar
Designation :	Secretary
Address :	F-8, Tridev Apartment, Modern Colony, Paud Road, Pune – 411 038, Maharashtra, India
Date of Birth/Age :	20.02.1986
Date of Appointment :	14.10.2010
PAN No.:	AGHPT1067B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.05.2012

Names of Shareholders (Equity Shares)		No. of Shares
Sudarshan Chemical Industries Limited, India		5999994
Dara N. Damania		1
Kishore L. Rathi		1
Narayandas J. Rathi		1
Pradeep R. Rathi		1
Shrikrishna N. Inamdar		1
Rajesh B. Rathi		1
Total		6000000

Names of Shareholders (Preference Shares)

No. of Shares

Sudarshan Chemical Industries Limited, India

400000

Total

400000

As on 24.05.2012

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		99.99
Directors or relatives of directors		0.01
Total		100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of plastic colour, single pigment concentrates,
single colourant, master batches/ property master batches.

Products :

Product Description

Item Code (ITC Code No.)

Organic Colouring Matter

320419

Other Colouring Matter

32064990

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars

Unit

Installed Capacity

Actual Production

(i) Colour and additive masterbatch

M. Tonnes

2750

1703

Installed Capacity certified by Managing Director

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

v Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai – 400 001, Maharashtra, India

v Standard Chartered Bank, Shivaji Nagar, Pune, Maharashtra, India

v ICICI Bank Limited, Baund Garden, Pune, Maharashtra, India

v Bank of Maharashtra, Shivaji Nagar, Pune, Maharashtra, India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
TERM LOANS FROM:
Standard Chartered Bank	38.000	63.333
Kotak Mahindra Prime Limited	0.625	0.763
WORKING CAPITAL BORROWINGS FROM BANKS	52.421	26.728
Total	91.046	90.824

- Details of Security

(a) The Term Loan from Standard Chartered Bank is secured by first charge by way of mortgage by deposit of title deeds of land and building at Pirangut. The same is further secured by the corporate guarantee issued by the holding company, Sudarshan Chemical Industries Limited.

(b) Working Capital Borrowings from Standard Chartered Bank are secured by hypothecation of stock-in-trade, book debts and receivables. These are further secured by (i) first charge on the immovable property of the Company at Pirangut in the State of Maharashtra and the movable property on the said immovable property created by way of mortgage and (ii) corporate guarantee issued by the holding company, Sudarshan Chemical Industries Limited.

- Term Loans repayable within a year Rs.25.333 millions (P.Y. Rs.25.333 millions)

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Term Loans :
Sudarshan Chemical Industries Limited (Holding Company) - Repayable within a year Nil (P.Y. Nil)	59.700	0.000
Short Term Loans :
Sudarshan Chemical Industries Limited (Holding Company)	0.000	77.100
Total	59.700	77.100


Banking Relations :	--

Auditors :
Name :	Amarendra Athalye and Company Chartered Accountants
Address :	Office No.9, 2^nd Floor, Chitralekha Chambers, Ideal Colony, Kothrud, Pune - 411 038, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ABWPA4607J

Holding Company :	Sudarshan Chemical Industries Limited CIN No.: L24119PN1951PLC008409

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 millions
400000	Preference Shares	Rs.100/- each	Rs.40.000 millions
	Total		Rs.100.000 millions

Issued Capital :

No. of Shares	Type	Value	Amount
* 6000000	Equity Shares	Rs.10/- each	Rs.60.000 millions
* 400000	Preference Shares	Rs.100/- each	Rs.40.000 millions
	Total		Rs.100.000 millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
* 6000000	Equity Shares (Equity Shares of Rs.10 each fully paid up held by holding company Sudarshan Chemical Industries Limited)	Rs.10/- each	Rs.60.000 millions
* 400000	Preference Shares (Preference Shares of Rs.100 each fully paid up held by holding company Sudarshan Chemical Industries Limited)	Rs.100/- each	Rs.40.000 millions
	Total		Rs.100.000 millions

* Notes:

i) Preference Shares are non cumulative in nature carrying a fixed dividend of 10% per annum.

ii) Preference shares shall be convertible after the 5^th year starting from the date of allotment.

iii) Preference shares carry a right of call and put option, which can be exercised by the shareholders/ company anytime after the 4th year from date of issuance of preference shares.

iv) Notwithstanding the above, no preference shares covered by the present issue of 4 lac shares, shall be redeemed until such time term loan from Standard Chartered Bank remain unpaid.

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	60.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(46.672)	(50.323)	(46.731)
NETWORTH		53.328	49.677	13.269
LOAN FUNDS
1] Secured Loans		91.046	90.824	110.416
2] Unsecured Loans		59.700	77.100	52.500
TOTAL BORROWING		150.746	167.924	162.916
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		204.074	217.601	176.185

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		123.228	118.359	122.463
Capital work-in-progress (including Capital Advances)		2.730	1.800	0.412

INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	57.401	53.751	24.679
	Sundry Debtors	50.022	50.313	24.844
	Cash & Bank Balances	2.802	4.699	1.314
	Other Current Assets	1.035	1.020	0.303
	Loans & Advances	19.952	22.863	21.411
Total Current Assets		131.212	132.646	72.551
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	40.673	27.488	13.148
	Other Current Liabilities	8.991	5.456	4.766
	Provisions	3.432	2.260	1.327
Total Current Liabilities		53.096	35.204	19.241
Net Current Assets		78.116	97.442	53.310

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		204.074	217.601	176.185

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales (Net)	338.169	236.579	91.178
		Other Income	10.116	9.032	1.736
		TOTAL (A)	348.285	245.611	92.914

Less	EXPENSES
		Increase/Decrease in Stocks	(1.510)	(9.848)	(4.440)
		Consumption of raw material	235.975	175.795	72.267
		Manufacturing and other expenses	62.199	43.747	24.481
		Administrative and selling expenses	15.754	10.271	8.999
		TOTAL (B)	312.418	219.965	101.307

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		35.867	25.646	(8.393)

Less	FINANCIAL EXPENSES (D)		20.514	18.725	16.564

	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.353	6.921	(24.957)

Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.703	10.513	9.527

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		3.650	(3.592)	(34.484)

Less	TAX (H)		0.000	0.000	0.180

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		3.650	(3.592)	(34.664)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(50.323)	(46.731)	(12.067)

	BALANCE CARRIED TO THE B/S		(46.673)	(50.323)	(46.731)

	EARNINGS IN FOREIGN CURRENCY
		Export of goods on F.O.B. Basis (inclusive of exports of Export House)	4.468	4.548	4.354
	TOTAL EARNINGS		4.468	4.548	4.354

	IMPORTS
		Raw Materials (including through Canalising Agencies)	81.180	48.371	15.374
		Capital Goods	1.921	0.000	12.209
	TOTAL IMPORTS		83.101	48.371	27.583

	Earnings/ (Loss) Per Share (Rs.)		0.61	(0.60)	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.05	(1.46)	(37.31)

Net Profit Margin (PBT/Sales)	(%)	1.08	(1.52)	(37.82)

Return on Total Assets (PBT/Total Assets}	(%)	1.43	(1.43)	(17.68)

Return on Investment (ROI) (PBT/Networth)		0.07	(0.07)	(2.60)

Debt Equity Ratio (Total Liability/Networth)		3.82	4.09	13.73

Current Ratio (Current Asset/Current Liability)		2.47	3.77	3.77

LOCAL AGENCY FURTHER INFORMATION

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	No
9) Name of person contacted	No
10) Designation of contact person	No
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	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
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 1162/2, Shivaji Nagar, Behind Observatory Shivaji Nagar, Pune – 411 005, Maharashtra to the present address w.e.f. 25.09.2006.

Bankers Charges Report as per Registry

Corporate identity number of the company	u24229PN2006PLC128651
Name of the company	PRESCIENT COLOR LIMITED
Address of the registered office or of the principal place of business in India of the company	162, Wellesley Road, Pune – 411 001, Maharashtra, India E-Mail: rohit.rathi@prescientcolor.com
This form is for	Modification of charge
Charge identification number of the modified	10058155
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai – 400 001, Maharashtra, India E-Mail: Nilesh.Babar@sc.com
Nature of description of the instrument creating or modifying the charge	Supplemental to Unattested Memorandum of Hypothecation
Date of instrument Creating the charge	18.10.2010
Amount secured by the charge	Rs.57.500 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Credit Facilities. Interest / Commission - As agreed by and with the Bank from time to time. Terms of Repayment: As agreed by and with the Bank from time to time. Margin: As applicable, if any. Extent and Operation of the charge: The Bank is having exclusive charge on current assets of the Company.
Short particulars of the property charged	Hypothecation by way of exclusive charge on a) all present and future book debts, outstanding moneys receivables, claims and bills b) all present and future stock in trade consisting of raw materials, finished goods, goods in process of manufacturing and other merchandise. (As more described in original hypothecation agreement dated 11.07.2007 and Supplemental Hypothecation Agreement dated 22.08.2008)
Date of latest modification prior to the present modification	22.08.2008
Particulars of the present modification	By present modification, the existing charge of Rs.27.500 millions enhanced to Rs.57.500 millions. Now, the credit facility constitutes of Short Term Loan, Pre-shipment Financing under Export Orders, Export Invoice Financing, Import LC unsecured, OD, Export Invoice Financing, Bonds and Guarantees.

FIXED ASSETS:

v Freehold Land

v Buildings

v Plat and Machinery

v Vehicles

v Furniture and Fixtures

v Office Equipments

v Plant and Machinery – R & D

WEBSITE DETAILS:

BACKGROUND:

Subject was incorporated in 2006 to provide the best solutions in masterbatches with specific focus on the textile and specialty plastics industries.

Subject, which is a subsidiary of Sudarshan Chemicals Industries Limited, draws from a strong culture of commitment to product and process reliability from its parent company. Sudarshan was the first chemical company in India to receive the ISO 9001 certification and provides a high degree of reliability and performance to its global customers through world class practices such as TQM, 5S, Six Sigma, and its cutting edge SAP R/3 IT system.

INFRASTRUCTURE:

Subject’s facility is located in Pirangut, Pune about 150 kilometers South of Mumbai, the financial capital of India. They have state of the art German twin-screw extruders and ancillary equipment. Their application research center and quality assurance cell also has world class testing instruments such as specialized pilot lines especially for textiles, weatherometers, particle size analyzers, filter pressure testers and other analytical instruments which provide them with a unique technical edge. Their focus is to provide their partnering clients with a versatile playground for developing and innovating, and then servicing them with consistency and flexibility. They handle small orders as well as annual contracts with large quantities, with the same enthusiasm.

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.55.70
UK Pound	1	Rs.87.55
Euro	1	Rs.68.85

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	-
--CREDIT LINES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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

24.679

50.022

24.844

2.802

1.314

1.035

0.303

19.952

21.411

131.212

40.673

8.991

4.766

3.432

1.327

53.096

78.116

53.310

1.05

(1.46)

(37.31)

1.08

(1.52)

(37.82)

1.43

(1.43)

(17.68)

0.07

(0.07)

(2.60)

3.82

13.73

2.47

3.77

Unit