MIRA
INFORM REPORT

Your Ref No.:

85908

Report Date :

20.12.2012

IDENTIFICATION DETAILS

Name :

OM PLAST INDUSTRIES

Registered
Office :

5, Maneklal Estate, Near SBI Corner, Bapu Nagar, Ahmedabad-380024,
Gujarat

Country :

India

Financials (as
on) :

31.03.2012

Year of
Establishment :

1996

Capital
Investment

Rs. 0.100 Million

Legal Form :

Sole Proprietory Concern

Line of Business
:

Manufacturer of Plastic Products like Bottle, etc.

No. of Employees
:

6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING

STATUS

PROPOSED CREDIT LINE

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

Status :

Very Small Concern

Payment Behaviour :

Slow

Litigation :

Clear

Comments :

Subject is a very small concern in its field.

Its scales of activities are limited. Trade relations are reported to
be fair. Business is active. Payments are reported to be slow.

The concern can be considered for business dealing on a safe and
secured trade terms and conditions.

NOTES:

Any query related to this report can be made
on e-mail: [email-masked]
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

A1

A1

Risk Category

ECGC
Classification

Insignificant

A1

Low

A2

Moderate

B1

High

B2

Very High

C1

Restricted

C2

Off-credit

D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.

Source
: CIA

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 :

Mr. Mahesh Phatti

Designation :

Proprietor

Contact No.:

91-9879186165

Date :

19.12.2012

LOCATIONS

Registered Office :

5, Maneklal Estate, Near SBI Corner, Bapu Nagar, Ahmedabad-380024,
Gujarat

Tel. No.:

Not Divulged

Mobile No.:

91-9879186165 (Mr. Mahesh Phatti)

Fax No.:

Not Divulged

Location :

Rented

SOLE PROPRIETOR

Name :

Mr. Mahesh Phatti

Designation :

Proprietor

Date of Birth/Age :

42 Years

Qualification :

M.Com

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Products like Bottle, etc.

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

6 (Approximately)

Bankers :

Dena Bank,

Ahmedabad, Gujarat, India

Banking
Relations :

--

Auditors :

Not Divulged

CAPITAL STRUCTURE

As on 31.03.2012

Capital Investment :

Owned :

Rs. 0.100 million

Borrowed :

--

Total :

Rs. 0.100 million

FINANCIAL DATA

[all figures are
in Rupees Millions]

Particulars

31.03.2012

31.03.2011

Sales Turnover (Approximately)

0.800

0.700

The above information has been parted by Mr. Mahesh Phatti (Proprietor)

Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.

LOCAL AGENCY FURTHER INFORMATION

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

No

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
two years

Yes

12]

Profitability for last two
years

No

13]

Reasons for variation
<> 20%

--------

14]

Estimation for coming
financial year

No

15]

Capital in the business

Yes

16]

Details of sister
concerns

No

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

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

No

25]

Conduct of the banking
account

--------

26]

Buyer visit details

--------

27]

Financials, if provided

Yes

28]

Incorporation details, if
applicable

No

29]

Last accounts filed at
ROC

No

30]

Major Shareholders, if
available

No

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

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.54.74

UK Pound

1

Rs.89.02

Euro

1

Rs.72.48

INFORMATION DETAILS

Information
Gathered by :

PDT

Report Prepared
by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

--BUSINESS SCALE

1~10

1

--PROFITABILIRY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--MARGINS

-5~5

--

DEMERIT POINTS

--BANK CHARGES

YES/NO

NO

--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

12

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