MIRA INFORM REPORT

Report Date :

23.02.2012

IDENTIFICATION DETAILS

Name :	HAZEL MERCANTILE LIMITED (w.e.f. 19.03.1999)
Formerly Known As :	HAZEL MERCANTILE PRIVATE LIMITED
Registered Office :	181, Ashoka Shopping Centre, 2^nd Floor, G T Hospital Complex, L.T. Road, Mumbai – 400 001, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	16.10.1995
Com. Reg. No.:	11-093674
Capital Investment/ Paid-up Capital:	Rs.150.000 Millions
CIN No.: [Company Identification No.]	U51900MH1995PLC093674
TAN No.: [Tax Deduction & Collection Account No.]	MUMH05177E / MUMH04309E
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Trading in Polymer, Metals, Paper, Chemicals, Rubber, Iron ore, Software, Electricity generation, etc.
No. of Employees:	200 (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 6600000
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. Ashok
Designation :	HOD Logistic
Contact No.:	91-9981562005
Date :	16.02.2012

LOCATIONS

Registered Office :	181, Ashoka Shopping Centre, 2^nd Floor, G T Hospital Complex, L.T. Road, Mumbai – 400 001, Maharashtra
Tel. No.:	91-22-22824444/ 22610282
Mobile No.:	Not Available
Fax No.:	91-22-22620553
E-Mail :	ashok@hmlindia.com corp@hmlindia.com admin@hmlindia.com regd@hmlindia.com regd@groupeveritas.com
Website :	http://www.hmlindia.com http://www.groupeveritas.com
Location :	Owned
Head Office :	Office No.4, 1^st Floor, Naitik Gandhidham Unas Association, Police Station Road, Gandhidham
Tel. No.:	91-283-6229548
Corporate Office :	701/712A, Embassy Centre, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22824444/ 33554444
Fax No.:	91-22-22824440/22041411
E-Mail :	corp@hmlindia.com
Website :	http://www.hmlindia.com
Marketing Office :	1410, Maker Chambers V, Nariman Point, Mumbai – 400 021, Maharashtra
Tel. No.:	91-22-22832170 (5 Lines)
Fax No.:	91-22-22821605
E-Mail :	mktg@hmlindia.com
Branches :	· SEZ Office: Address: shed No. 250, sector III, KSEZ, Kandla, Gandhidham, Gujarat, India Email: hazelmercantile@hotmail.com · Delhi · Kolkata, West Bengal · Visakhapatnam, Andhra Pradesh

DIRECTORS

(As On 30.09.2011)

Name :

Mr. Nitin Kumar Deendayal Didwania

Designation :

Chairman

Address :

172, Kshitij, 47, Napean Sea Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

23.06.1974

Date of Appointment :

01.04.1997

DIN No.:

00210289

Other Directorships:

S.No.	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
1	U99999MH1994PTC082808	VERITAS PROPERTIES PRIVATE LIMITED	Director	11-11-94	11-11-94	-	Active	NO
2	U65990MH1994PLC082813	VERITAS INVESTMENTS LIMITED	Director	11-11-94	11-11-94	-	Active	NO
3	U65990MH1995PTC095594	REVIVE SECURITIES PRIVATE LIMITED	Director	12-02-96	12-02-96	-	Active	NO
4	U65900MH1996PLC099279	INDIA FINTRADE LIMITED	Director	21-05-96	21-05-96	-	Active	NO
5	U51900MH1995PLC093674	HAZEL MERCANTILE LIMITED	Managing director	01-04-97	01-04-97	-	Active	NO
6	U51900MH1996PTC104099	SANMAN TRADE IMPEX PRIVATE LIMITED	Director	12-04-99	12-04-99	-	Active	NO
7	U67120MH1996PTC097863	PRICELESS INVESTRADE PRIVATE LIMITED	Director	12-04-99	12-04-99	-	Active	NO
8	U65990MH1996PTC102669	TRIDENT FINTRADE PRIVATE LIMITED	Director	02-04-01	02-04-01	-	Active	NO
9	U51900MH1996PTC104063	EBEN TRADE IMPEX PRIVATE LIMITED	Director	01-08-01	01-08-01	-	Active	NO
10	U32303MH1990PTC055793	RHYTHM CREATORS PRIVATE LIMITED	Director	12-05-03	12-05-03	-	Active	NO
11	U51909MH2004PTC145098	PRAKRUTI IMPORT EXPORT PRIVATE LIMITED	Director	16-03-04	16-03-04	-	Active	NO
12	U51390MH2004PTC145298	EFFIN IMPORT EXPORT PRIVATE LIMITED	Director	24-03-04	24-03-04	-	Active	NO
13	U72900MH2004PLC146236	HAZEL INFOTECH LIMITED	Director	12-05-04	12-05-04	-	Active	NO
14	U51909MH2005PTC154481	ASPEN INTERNATIONAL PRIVATE LIMITED	Director	05-07-05	05-07-05	-	Active	NO
15	U70100MH2005PTC151379	AVID PROPERTIES PRIVATE LIMITED	Director	05-08-05	05-08-05	-	Active	NO
16	U70100MH2005PTC151367	GRACIOUS REAL ESTATES PRIVATE LIMITED	Director	05-08-05	05-08-05	-	Active	NO
17	U51420MH2005PTC156446	HAZEL METALS AND MINERALS PRIVATE LIMITED	Director	29-09-05	29-09-05	-	Active	NO
18	U51909MH2005PTC151378	CLAIRVOYANT TRADE IMPEX PRIVATE LIMITED	Director	28-10-05	28-10-05	-	Active	NO
20	U51909MH2006PTC161460	COUNTY TRADE IMPEX PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
21	U63090MH2006PTC161463	HAZEL LOGISTICS PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
22	U51909MH2006PTC161459	SHIMMER TRADE IMPEX PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
23	U51909MH2006PTC161464	MATIN EXIM PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
24	U70100MH2006PTC161465	SEARS REAL ESTATES PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
26	U23209MH2006PLC166626	BIOFUELS (VERITAS) LIMITED	Director	29-12-06	29-12-06	-	Active	NO
27	U45200MH2007PTC167839	VERITAS INFRASTRUCTURE DEVELOPMENT LIMITED	Director	13-02-07	13-02-07	-	Active	NO
28	U01403MH2007PTC168117	VERITAS AGRO VENTURES PRIVATE LIMITED	Director	24-02-07	24-02-07	-	Active	NO
29	L23209MH1985PLC035702	Veritas (India) Limited	Director	05-12-07	05-12-07	-	Active	NO
30	U67190MH1996PTC103717	ARISTO FINCAP PRIVATE LIMITED	Additional director	01-02-08	01-02-08	-	Active	NO
31	U51109MH2008PLC182189	GROUPE VERITAS LIMITED	Director	14-05-08	14-05-08	-	Active	NO
32	U45202MH2008PLC182355	HAZEL INFRA LIMITED	Director	17-05-08	17-05-08	-	Active	NO
33	U51909MH2005PTC151366	DIVA TRADE IMPEX PRIVATE LIMITED	Additional director	20-02-10	20-02-10	-	Active	NO
34	U52390MH2009PTC192131	ONTIME TRADE IMPEX PRIVATE LIMITED	Additional director	17-03-10	17-03-10	-	Active	NO
35	U51909WB2009PTC135084	TITLY BARTER PRIVATE LIMITED	Additional director	19-07-10	19-07-10	-	Active	NO
36	U51909MH2005PTC152105	ASTER IMPEX PRIVATE LIMITED	Additional director	23-07-10	23-07-10	-	Active	NO
37	U55101MH2007PTC170599	NERINE RESORT PRIVATE LIMITED	Director	11-09-10	11-09-10	-	Active	NO
38	U01403MH2010PTC209773	SAINATH AGRICULTURE PRIVATE LIMITED	Director	03-11-10	03-11-10	-	Active	NO
39	U01403MH2010PTC209989	BHUMIPUTRA AGRO PRIVATE LIMITED	Director	12-11-10	12-11-10	-	Active	NO
40	U70102MH2010PTC210721	KAMYAB PROPERTIES PRIVATE LIMITED	Director	07-12-10	07-12-10	-	Active	NO
41	U45202MH2010PTC210683	AAFREEN PROPERTIES PRIVATE LIMITED	Director	07-12-10	07-12-10	-	Active	NO
42	U01403MH2010PTC210812	VISHWA AGRICULTURE PRIVATE LIMITED	Director	08-12-10	08-12-10	-	Active	NO
43	U01403MH2010PTC210809	ZAMEEN AGRO PRIVATE LIMITED	Director	08-12-10	08-12-10	-	Active	NO
44	U01403MH2010PTC210804	KUDRAT FARMING PRIVATE LIMITED	Director	08-12-10	08-12-10	-	Active	NO
45	U01403MH2010PTC211346	SHUBH LABH AGRICULTURE PRIVATE LIMITED	Director	24-12-10	24-12-10	-	Active	NO
46	U45202MH2011PTC211769	AFFLUENT PROPERTIES PRIVATE LIMITED	Director	03-01-11	03-01-11	-	Active	NO
47	U45400MH2011PTC211767	GLISTENING PROPERTIES PRIVATE LIMITED	Director	03-01-11	03-01-11	-	Active	NO
48	U01403MH2011PTC212396	VIDHATA FARMING PRIVATE LIMITED	Director	17-01-11	17-01-11	-	Active	NO
49	U01404MH2011PTC212659	BEST FARMING PRIVATE LIMITED	Director	22-01-11	22-01-11	-	Active	NO
50	U01403MH2011PTC212664	BHOOMI FARMING PRIVATE LIMITED	Director	24-01-11	24-01-11	-	Active	NO
51	U01403MH2011PTC212691	FASAL FARMING PRIVATE LIMITED	Director	25-01-11	25-01-11	-	Active	NO
52	U01122MH2011PTC212914	MOTHER NATURE AGRICOM PRIVATE LIMITED	Director	01-02-11	01-02-11	-	Active	NO
53	U01403MH2011PTC212913	KAMYAB FARMS PRIVATE LIMITED	Director	01-02-11	01-02-11	-	Active	NO
54	U01403MH2011PTC212909	GOLDEN ARROW AGRO PRIVATE LIMITED	Director	01-02-11	01-02-11	-	Active	NO
55	U01500MH2011PTC212872	DHARNIDHAR AGRICULTURE PRIVATE LIMITED	Director	01-02-11	01-02-11	-	Active	NO
56	U01500MH2011PTC212869	HARYALI FARMING PRIVATE LIMITED	Director	01-02-11	01-02-11	-	Active	NO
58	U01403MH2011PTC213150	GOLDCROP AGRO PRIVATE LIMITED	Director	07-02-11	07-02-11	-	Active	NO
59	U70109MH2011PTC213831	VERITAS HOUSING DEVELOPMENT PRIVATE LIMITED	Director	21-02-11	21-02-11	-	Active	NO
60	U01403MH2011PTC215010	DHARNI FARMING PRIVATE LIMITED	Director	19-03-11	19-03-11	-	Active	NO
61	U01403MH2011PTC215009	KRUSHI FARMING PRIVATE LIMITED	Director	19-03-11	19-03-11	-	Active	NO
62	U01403MH2011PTC216554	DHARA FARMING PRIVATE LIMITED	Director	21-04-11	21-04-11	-	Active	NO
63	U70102MH2011PTC219072	VERITAS HABITATS PRIVATE LIMITED	Director	24-06-11	24-06-11	-	Active	NO
64	U65900MH2011PTC224947	SANCHAY INVESTMENTS PRIVATE LIMITED	Director	14-12-11	14-12-11	-	Active	NO

Name :

Ms. Sushmadevi Deendayal Didwania

Designation :

Director

Address :

172, Kshitij, 47, Napean Sea Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

30.09.1955

Date of Appointment :

01.04.1997

DIN No.:

00210240

Other Directorships:

S.No.	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
1	U99999MH1994PTC082808	VERITAS PROPERTIES PRIVATE LIMITED	Director	11-11-94	11-11-94	-	Active	NO
2	U65990MH1994PLC082813	VERITAS INVESTMENTS LIMITED	Director	11-11-94	11-11-94	-	Active	NO
3	U65990MH1995PTC095594	REVIVE SECURITIES PRIVATE LIMITED	Director	12-02-96	12-02-96	-	Active	NO
4	U51900MH1995PLC093674	HAZEL MERCANTILE LIMITED	Director	01-04-97	01-04-97	-	Active	NO
5	U65900MH1996PLC099279	INDIA FINTRADE LIMITED	Director	15-12-97	15-12-97	-	Active	NO
6	U51900MH1996PTC104099	SANMAN TRADE IMPEX PRIVATE LIMITED	Director	12-04-99	12-04-99	-	Active	NO
7	U67120MH1996PTC097863	PRICELESS INVESTRADE PRIVATE LIMITED	Director	12-04-99	12-04-99	-	Active	NO
8	U65990MH1996PTC102669	TRIDENT FINTRADE PRIVATE LIMITED	Director	02-04-01	02-04-01	-	Active	NO
9	U51900MH1996PTC104063	EBEN TRADE IMPEX PRIVATE LIMITED	Director	01-08-01	01-08-01	-	Active	NO
10	U32303MH1990PTC055793	RHYTHM CREATORS PRIVATE LIMITED	Director	12-05-03	12-05-03	-	Active	NO
11	U51909MH2005PTC151378	CLAIRVOYANT TRADE IMPEX PRIVATE LIMITED	Director	28-10-05	28-10-05	-	Active	NO
12	U51909MH2006PTC161460	COUNTY TRADE IMPEX PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
13	U63090MH2006PTC161463	HAZEL LOGISTICS PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
14	U51909MH2006PTC161459	SHIMMER TRADE IMPEX PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
15	U51909MH2006PTC161464	MATIN EXIM PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
16	U70100MH2006PTC161465	SEARS REAL ESTATES PRIVATE LIMITED	Director	28-04-06	28-04-06	-	Active	NO
17	U01403MH2007PTC168117	VERITAS AGRO VENTURES PRIVATE LIMITED	Director	24-02-07	24-02-07	-	Active	NO
18	U45202MH2011PTC211769	AFFLUENT PROPERTIES PRIVATE LIMITED	Director	03-01-11	03-01-11	-	Active	NO
19	U45400MH2011PTC211767	GLISTENING PROPERTIES PRIVATE LIMITED	Director	03-01-11	03-01-11	-	Active	NO

Name :

Mr. Saurabh Deepak Sanghvi

Designation :

Additional Director

Address :

66, Kamal Building, 69, Walkeshwar Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

05.08.1974

Date of Appointment :

02.12.2011

DIN No.:

02000411

Other Directorships:

S.No.	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
1	L23209MH1985PLC035702	Veritas (India) Limited	Whole-time director	18-01-12	05-12-07	-	Active	NO
2	U51909MH2005PTC154481	ASPEN INTERNATIONAL PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
4	U65900MH1996PLC099279	INDIA FINTRADE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
5	U70109MH2011PTC213831	VERITAS HOUSING DEVELOPMENT PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
6	U65990MH1995PTC095594	REVIVE SECURITIES PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
7	U70100MH2005PTC151379	AVID PROPERTIES PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
8	U65920MH1996PTC102312	AKSHATA FINTRADE PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
9	U67120MH1996PTC097863	PRICELESS INVESTRADE PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
10	U51909WB2009PTC135084	TITLY BARTER PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
11	U65990MH1994PLC082813	VERITAS INVESTMENTS LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
12	U45200MH2007PTC167839	VERITAS INFRASTRUCTURE DEVELOPMENT LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
13	U01403MH2007PTC168117	VERITAS AGRO VENTURES PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
14	U51909MH2004PTC145098	PRAKRUTI IMPORT EXPORT PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
15	U24110MH1994PTC076617	NEOLITE POLYMER INDUSTRIES P.LTD.	Additional director	02-12-11	02-12-11	-	Active	NO
16	U45202MH2008PLC182355	HAZEL INFRA LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
17	U51109MH2008PLC182189	GROUPE VERITAS LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
18	U70100MH2005PTC151367	GRACIOUS REAL ESTATES PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
19	U51390MH2004PTC145298	EFFIN IMPORT EXPORT PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
20	U23209MH2006PLC166626	BIOFUELS (VERITAS) LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
21	U51900MH1996PTC104099	SANMAN TRADE IMPEX PRIVATE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO
22	U51900MH1995PLC093674	HAZEL MERCANTILE LIMITED	Additional director	02-12-11	02-12-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ashok Thakurdas Khemchandani
Designation :	Company Secretary
Address :	F- 124, Anjali Apartments, Vaswani Marg, 7, Bungalows, Andheri West, Mumbai- 400061, Maharashtra, India
Date of Birth/Age :	18.08.1956
Date of Appointment :	05.01.2005
PAN No.:	AFUPK6931R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Nitin Kumar Deendayal Didwania	14,998,150
Sushmadevi Deendayal Didwania	450
Vishal Veersingh Sukhani	1,000
Ajay Jain	100
Yash Gala	100
Sourabh Sanghavi	100
Sanjay Busa	100
Total	15,000,000

LIST OF ALLOTTEES:

(As On 30.09.2011)

Sr no.	Name and Occupation of Allottee	Number of Bonus Shares Alloted
1.	Mr. Nitin Kumar Didwania	1,49,98,150
2.	Ms. Sushmadevi Didwania	450
3.	Vishal Sukhani	1000
4.	Ajay Jain	100
5.	Yash Gala	100
6.	Saurabh Sanghvi	100
7.	Sanjay Busa	100
		1,50,00,000

(AS ON 30.09.2011)

Category	Percentage
Bodies corporate	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading in Polymer, Metals, Paper, Chemicals, Rubber, Iron ore, Software, Electricity generation, etc.
Products :	· Paints and Coatings · Paper and Packaging · Textile · Surfactants and Detergents · Pharmaceutical · Photography and Imaging · Tyres · Pipes · Trading in Polymer · Metals · Electricity Generation
Exports :
Products :	· Chemical · Paper · Rubber
Countries :	· African Country · European Country · Asia
Imports :
Products :	Chemical
Countries :	China
Terms :
Selling :	L/C , Cash and Credit (30 days/ 60days/ 90days)
Purchasing :	L/C , Cash and Credit (30 days/ 60days/ 90days)

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Installed Capacity	Actual Production
Computer software	--	25400 units
Electricity Generation	32412000 units	5894566 units

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and Manufacturers

No. of Employees :

200 (Approximately)

Bankers :

· Punjab National Bank, Foreshore Road Branch, Raheja Chambers, Nariman Point, Mumbai- 400021, Maharashtra, India

· State Bank of India, Commercial Branch, N.G.N. Vaidya Marg, Bank Street, Horniman Circle, Fort, Post Box-10141, Mumbai-400001, Maharashtra, India

· IDBI Bank, Cuff Parade, Mumbai – 400005, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 Rs. In Millions	As on 31.03.2009 Rs In Millions
Overdraft with banks (secured against hypothecation of stocks, book debts and other current assets of the company and guarantees)	431.163	367.798
Term loan with Banks (secured by first charge on wind mill)	67.683	48.125
Total	498.846	415.923
Unsecured Loan	As on 31.03.2010 Rs. In Millions	As on 31.03.2009 Rs In Millions
From Directors	5.820	108.563
From Others	0.944	4.162
Total	6.764	112.725

Banking Relations :	--
Auditors :
Name :	Shabbir S. Bagasrawala Chartered Accountants
Address :	Office No. 8, 1^st Floor, Narayan Niwas, 63, Aarey Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India
Tel. No.:	91-22-28739939
Associates/Subsidiaries :	· Hazel Middle East FZE · Hazel Private Limited

CAPITAL STRUCTURE

(As on 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000	Equity Share	Rs.10/- each	Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30,000,000	Equity Share	Rs.10/- each	Rs.300.000 Millions

(As on 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Share	Rs.10/- each	Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Share	Rs.10/- each	Rs.150.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		150.000	150.000	125.000
2] Share Application Money		0.000	0.000	25.000
3] Reserves & Surplus		1523.369	1147.730	861.930
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1673.369	1297.730	1011.930
LOAN FUNDS
1] Secured Loans		498.846	415.923	285.680
2] Unsecured Loans		6.764	112.725	168.515
TOTAL BORROWING		505.610	528.648	454.195
DEFERRED TAX LIABILITIES		47.751	36.432	36.269
TOTAL		2226.730	1862.810	1502.394
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		171.780	123.928	130.309
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		68.704	16.751	14.046
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1567.129	1049.226	785.707
	Sundry Debtors	3273.387	2608.707	1928.424
	Cash & Bank Balances	252.585	201.883	157.725
	Other Current Assets	19.793	31.423	0.000
	Loans & Advances	436.628	379.618	243.727
Total Current Assets		5549.522	4270.857	3115.583
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3531.109	2516.078	1729.389
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	32.970	33.690	29.435
Total Current Liabilities		3564.079	2549.768	1758.824
Net Current Assets		1985.443	1721.089	1356.759
MISCELLANEOUS EXPENSES		0.803	1.042	1.280
TOTAL		2226.730	1862.810	1502.394

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	13471.085	10071.195	7672.904
		Other Income	42.769	18.648	31.907
		TOTAL (A)	13513.854	10089.843	7704.811
Less	EXPENSES
		Trading and other direct expenses	12780.511	9490.729	7275.531
		Administrative expenses	82.709	71.645	53.156
		Selling and distribution expenses	86.263	72.600	42.985
		TOTAL (B)	12949.483	9634.974	7371.672
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		564.371	454.869	333.139
Less	FINANCIAL EXPENSES (D)		144.933	142.079	94.643
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		419.438	312.790	238.496
Less/ Add	DEPRECIATION/ AMORTISATION (F)		10.867	8.891	8.282
	PROFIT BEFORE TAX (E-F) (G)		408.571	303.899	230.214
Less	TAX (H)		24.158	11.079	11.594
	PROFIT AFTER TAX (G-H) (I)		384.413	292.820	218.620
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1047.730	811.930	618.428
Less	APPROPRIATIONS
		Transfer to General Reserve	50.000	50.000	20.000
		Dividend	7.500	6.000	4.375
		Tax on Dividend	1.275	1.020	0.743
	BALANCE CARRIED TO THE B/S		1373.368	1047.730	811.930
	Earnings Per Share (Rs.)		25.63	23.07	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.84	2.90	2.84
Net Profit Margin (PBT/Sales)	(%)	3.03	3.02	3.00
Return on Total Assets (PBT/Total Assets}	(%)	7.14	6.91	7.09
Return on Investment (ROI) (PBT/Networth)		0.24	0.23	0.23
Debt Equity Ratio (Total Liability/Networth)		2.43	2.37	2.19
Current Ratio (Current Asset/Current Liability)		1.56	1.67	1.77

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2010	31.03.2009	31.03.2008
	(Rs. In Millions)
Sundry Creditors
For Goods	3462.441	2469.345	1707.072
For Expenses and Capital Goods	68.668	46.733	22.317
Total	3531.11	2516.078	1729.389

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	No
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51900MH1995PLC093674
Name of the company	HAZEL MERCANTILE LIMITED
Address of the registered office or of the principal place of business in India of the company	181, Ashoka Shopping Centre, 2^nd Floor, G T Hospital Complex, L.T. Road, Mumbai – 400 001, Maharashtra
This form is for	Creation of Charge
Type of charge	Movable Property
Particular of charge holder	Punjab National Bank, Foreshore Road Branch, Raheja Chambers, Nariman Point, Mumbai- 400021, Maharashtra, India
Nature of instrument creating charge	Deed of Hypothecation to Secure LC on DA Basis Dated:- 24.11.2011
Date of instrument Creating the charge	24.11.2011
Amount secured by the charge	Rs.550.000 Millions
Brief of the principal terms and conditions and extent and operation of the charge	RATE OF INTEREST Commission 15% of Normal Charges TERMS OF REPAYMENT As per agreement attached MARGIN 15% EXTENT AND OPERATION OF THE CHARGE Adhoc LC (DA) facility of Rs.550.000 Millions is secured by LC documents.
Description of the property charged indicating whether it is a charged on	Immovable properties
Short Particulars of the property charged	Adhoc LC (DA) facility of Rs.550.000 Millions is secured by LC documents

PERFORMANCE

During the year, ,the company has achieved consolidated turnover of Rs. 20234.700 Millions as compared to Rs. 14124.500 Millions during the previous year resulting in revenue growth of 43.26%.

On standalone basis the Company has achieved turnover of Rs. 13513.900 Millions as compared to Rs 10089.800 Millions during the previous year garnering a resulting growth in revenue of 33.94% and consolidated Profit after Tax is Rs. 657.200 Millions as compared to Rs. 522.800 Millions during the previous year resulting in growth of 25.71% On standalone basis. Profit after tax is Rs 384.400 Millions as compared to Rs 292.800 Millions during the previous year- resulting growth of 31.28%.

FIXED ASSETS

· Land and Building

· Plant and Machinery

· Vehicles

· Office Equipments

· Furniture and Fixtures

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.49.25
UK Pound	1	Rs.76.75
Euro	1	Rs.65.16

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.