MIRA INFORM REPORT

Report Date :

22.02.2012

IDENTIFICATION DETAILS

Name :	TECHNO TARP AND POLYMERS PRIVATE LIMITED
Registered Office :	B-310, Everest Grande, Mahakali Caves Road, Opposite Ahura Centre, Andheri (East), Mumbai – 400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.12.2005
Com. Reg. No.:	11-158127
Capital Investment / Paid-up Capital :	Rs.16.000 Millions
CIN No.: [Company Identification No.]	U19202MH2005PTC158127
TAN No.: [Tax Deduction & Collection Account No.]	MUMT12746G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of PE Tarapaulin Tents and related products.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 100000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to slow but correct. The company can be considered for small 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. Valijib
Designation :	Accounts Manager
Contact No.:	91-9930882362
Date :	18.02.2012

LOCATIONS

Registered Office :	B-310, Everest Grande, Mahakali Caves Road, Opposite Ahura Centre, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-26873811-16
Mobile No.:	91-9930882362 (Mr. Valijib)
Fax No.:	91-22-26873817
E-Mail :	valjib@technorelief.com sales@technotarp.com hemantp@technorelief.com india@technotarp.com
Website :	www.technorelief.com
Area :	1100 sq ft
Location :	Owned
Factory :	Plot No.4920/ 21, Plastic Zone, GIDC, Sarigam, Bhilad, District Valsad – 396 155, Gujarat, India
Tel. No.:	91-260-2780444/ 2780777/ 2780888
Fax No.:	91-260-2780333
E-Mail :	hemantp@technorelief.com india@technotarp.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Hemant Shridhar Phatak

Designation :

Director

Address :

301, Green Park, ‘A’ Wing, Raheja Estate, Kulupwadi, Borivali (East), Mumbai – 400 066, Maharashtra, India

Date of Birth/Age :

20.07.1964

Date of Appointment :

01.08.2006

DIN No.:

00609330

Other Directorship :

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
U19202MH2005PTC158127	Techno Tarp and Polymers Private Limited	Director	1/08/2006	1/08/2006	-	Active	NO
U15400MH2010PTC198582	Nutrivita Foods Private Limited	Director	6/01/2010	6/01/2010	-	Active	NO

Name :

Mr. Vijaykumar Ramprakash Ojha

Designation :

Director

Address :

16/6, Mathura Road, Faridabad – 121 001, Haryana, India

Date of Birth/Age :

02.03.1958

Date of Appointment :

19.12.2005

DIN No.:

00284285

Other Directorship :

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
U51909MH2004PTC149779	Techno Relief Overseas (India) Private Limited	Director	2/12/2004	2/12/2004	-	Active	NO
U19202MH2005PTC158127	Techno Tarp and Polymers Private Limited	Director	19/12/2005	19/12/2005	-	Active	NO
U15400MH2010PTC198582	Nutrivita Foods Private Limited	Director	6/01/2010	6/01/2010	-	Active	NO

Name :

Mr. Ram Parkash Mulakh Ojha

Designation :

Director

Address :

146-A, Sector 16A, Faridabad – 121 001, Haryana, India

Date of Birth/Age :

21.02.1929

Date of Appointment :

19.12.2005

DIN No.:

00284330

Other Directorship :

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
U51909MH2004PTC149779	Techno Relief Overseas (India) Private Limited	Director	2/12/2004	2/12/2004	-	Active	NO
U19202MH2005PTC158127	Techno Tarp and Polymers Private Limited	Director	19/12/2005	19/12/2005	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Valijib
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Vijay Kumar Ojha	160000
Ramprakash Ojha	240000
TriA Holdings INC, Canada	1200000
Total	1600000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of PE Tarapaulin Tents and related products.
Products :	· Tarpaulin and Plastic Sheeting · Flexible Intermediate Bulk Containers
Exports :
Products :	PE Tarapaulin Tents and related products
Countries :	· Sudan · Uganda · Germany
Imports :
Products :	Raw Material
Countries :	· Switzerland · Qatar
Terms :
Selling :	L/C/ Cash/ Credit
Purchasing :	L/C/ Cash/ Credit

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity Tones	Installed Capacity Tones	Actual Production
Tarapaulin	M.T.	NA	3600	1982

GENERAL INFORMATION

Suppliers :

· Qatar Petrochemicals Company

· Reliance

Customers :

Wholesalers and Retailers

· Catholic Relief Services

· Unicef

No. of Employees :

300 (Approximately)

Bankers :

· ING Vysya Bank Limited, Patel Chambers, Ground Floor, Sandhurst Bridge, Opera House, Mumbai – 400007, Maharashtra, India

· Bank of Baroda, Mulji Apartments, 2768, S.V. Road, Borivali (East), Mumbai – 400066, Maharashtra, India

· ING Vysya Bank Limited, Patel Chambers, Ground Floor, Sandhurst Bridge, Opera House, Mumbai - 400 007, Maharashtra, India

· HDFC Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Cash Credit From Banks	2.482	1.250
Foreign Bill Purchase From Bank	18.237	15.739
Term Loans From Bank	17.590	16.197
Packaging Credit (Foreign Currency) From Bank	20.549	11.460
Car Loans From Bank	0.341	0.417
Total	59.199	45.063

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loan from Directors and Shareholders	15.149	18.746
Total	15.149	18.746

Banking Relations :	--
Auditors :
Name :	S. Ramanand Aiyar and Company Chartered Accountants
Address :	501/502, 5^th Floor, Next to Crescent Plaza, Opposite Imperial Hotel, Telli Gully, Mumbai – 400069, Maharashtra, India
PAN.:	ABJFS9507L
Associates :	Techno Relief Overseas India Private Limited Address: B-310, Everest Grande, Mahakali Caves Road, Opposite Ahura Centre, Andheri (East), Mumbai – 400 093, Maharashtra, India

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1600000	Equity Shares	Rs.10/- each	Rs.16.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1600000	Equity Shares	Rs.10/- each	Rs.16.000 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		16.000	16.000	16.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		10.863	8.141	0.000
4] (Accumulated Losses)		0.000	0.000	(2.258)
NETWORTH		26.863	24.141	13.742
LOAN FUNDS
1] Secured Loans		59.199	45.063	36.963
2] Unsecured Loans		15.149	18.746	24.758
TOTAL BORROWING		74.348	63.809	61.721
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		101.211	87.950	75.463
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		34.752	41.494	47.154
Capital work-in-progress		6.457	1.035	0.042
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		1.114	0.522	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.756	33.570	25.918
	Sundry Debtors	32.600	27.668	24.629
	Cash & Bank Balances	1.486	5.073	0.598
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	9.535	10.038	10.331
Total Current Assets		79.377	76.349	61.476
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.750	10.800	35.426
	Other Current Liabilities	0.938	0.219	0.092
	Provisions	0.713	22.255	0.427
Total Current Liabilities		21.401	33.274	35.945
Net Current Assets		57.976	43.075	25.531
MISCELLANEOUS EXPENSES		0.912	1.824	2.736
TOTAL		101.211	87.950	75.463

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	235.826	217.798	203.351
		Other Income	4.093	1.476	6.954
		Increase/ (Decrease) in Stock	0.314	4.927	(1.621)
		TOTAL	240.233	224.201	208.684
Less	EXPENSES
		Office Expenses	236.416	211.719	200.766
		Administrative Expenses
		Advertising Expenses
		TOTAL	236.416	211.719	200.766
	PROFIT BEFORE TAX		3.817	12.482	NA
Less	TAX		0.190	1.841	NA
	PROFIT AFTER TAX		3.627	10.641	NA
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods	204.070	184.870	176.271
	TOTAL EARNINGS		204.070	184.870	176.271
	IMPORTS
		Raw Materials	0.000	0.000	0.000
		Trading Goods	86.190	66.157	47.740
	TOTAL IMPORTS		86.190	66.157	47.740
	Earnings Per Share (Rs.)		1.70	6.50	NA

Expected Sales (2011-12) : Rs.260.000 Millions

The above information has been parted by Mr. Valijib.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.51	4.75	NA
Net Profit Margin (PBT/Sales)	(%)	1.62	5.73	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.34	10.59	NA
Return on Investment (ROI) (PBT/Networth)		0.14	0.52	NA
Debt Equity Ratio (Total Liability/Networth)		3.56	4.02	7.11
Current Ratio (Current Asset/Current Liability)		3.71	2.29	1.71

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors	19.750	10.800	35.426
TOTAL	19.750	10.800	35.426

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%	--
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	--
23) Banking Details	Yes
24) Banking facility details	Yes
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	--

Note:

The registered address of the company D-613, Floral Deck Plaza, MIDC, Andheri, Mumbai – 400093, Maharashtra, India has been shifted to the present address w.e.f. 18.03.2010

FORM 8

Corporate identity number of the company	U19202MH2005PTC158127
Name of the company	TECHNO TARP AND POLYMERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B - 310, Everest Grande, Mahakali Caves Road, Opposite Ahura Centre, Andheri (East), Mumbai – 400093, Maharashtra, India Email : india@technotarp.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10130511
Type of charge	Immovable property
Particular of charge holder	ING Vysya Bank Limited, Patel Chambers, Ground Floor, Sandhurst Bridge, Opera House, Mumbai – 400007, Maharashtra, India Email : cms@companiesinn.com
Nature of instrument creating charge	Mortgage by deposit of title deeds
Date of instrument Creating the charge	18.01.2011
Amount secured by the charge	Rs.95.342 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest No Change Terms of repayment No Change Margin No Change Extent and operation of the charge First charge on the immovable property of the company
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The immovable property bearing Plot No.4920/4921/4913/4914/4915 GIDC, Sarigam, District Valsad, Gujarat, India
Particulars of the present modification	There is no change in the total limit of Rs.95.342 Millions. The limit has been additionally secured by the immovable property of the company All other terms and conditions are remain same

FIXED ASSETS

· Leasehold Land

· Office Premises

· Computers

· Furniture and Fixtures

· Office Equipments

· Plant and Machinery

· Vehicles

TRADE REFERENCES

· Catholic Relief Services

· Unicef

· Qatar Petrochemical Company

· Reliance

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.49.08
UK Pound	1	Rs.77.80
Euro	1	Rs.65.17

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.