MIRA INFORM REPORT

Report Date :

25.07.2012

IDENTIFICATION DETAILS

Name :	ANCHOR HEALTH AND BEAUTY CARE PRIVATE LIMITED
Registered Office :	C -201, Innova, Marathon Gen. Off. G. K Marg, Opposite Peninshula Corporate Park, Lower Parel (West), Mumbai- 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.10.1992
Com. Reg. No.:	11-068971
Capital Investment / Paid-up Capital :	Rs. 46.721 Millions
CIN No.: [Company Identification No.]	U24249MH1992PTC068971
TAN No.: [Tax Deduction & Collection Account No.]	MUMA11215B
PAN No.: [Permanent Account No.]	AAACA4990N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Personal Care (Dyna Soap, Detergents) and Oral Care (Toothpaste, Tooth Powder) Products.
No. of Employees :	800 (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 5600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some dip in the sales turnover and huge dip in the profitability during 2011. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered 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. Navin
Designation :	Accounts Manager
Contact No.:	91-22-39515555
Date :	24.07.2012

RBI DEFAILTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAILTERS’ 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/ Factory :	C -201, Innova, Marathon Gen. Off. G. K Marg, Opposite Peninshula Corporate Park, Lower Parel (West), Mumbai- 400013, Maharashtra, India
Tel. No.:	91-22-32556340
Fax No.:	Not Available
E-Mail :	navin@anchorglobal.com meghagandhi87@gmail.com
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Sanjay Damji Shah
Designation :	Director
Address :	304, Tehni Heights, Petit Hall, 66, Neapeansea Road, Mumbai – 400 036, Maharashtra, India
Date of Birth/Age :	09.05.1939
Date of Appointment :	07.02.2000
DIN No.:	00292226
Name :	Mr. Jadavji Lalji Shah
Designation :	Director
Address :	25/2, Mont Blanc, Dady Seth Hill, August Kranti Marg, Mumbai – 400 036, Maharashtra, India
Date of Birth/Age :	15.01.1967
Date of Appointment :	04.11.2004
DIN No.:	00934586

KEY EXECUTIVES

Name :	Mr. Navin
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Sanjay D. Shah	179208
Jadavji L. Shah	3253
Mehul J. Shah	211732
Damji L. Shah	2602
Heena S. Shah	712276
Julie M. Shah	679752
Usha A. Shah	975720
Hemang J. Shah	975720
Park Royal Enterprises Limited, Mauritius	931800
Total	4672063

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	19.94
Directors or relatives of directors	80.06
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Personal Care (Dyna Soap, Detergents) and Oral Care (Toothpaste, Tooth Powder) Products.
Products :	v Shampoo v Cream v Confectionery v Tooth Brush v Tooth Paste
Exports :
Products :	v Shampoo v Cream v Confectionery v Tooth Brush v Tooth Paste
Countries :	Gulf Countries
Imports :
Products :	Raw Material
Countries :	v USA v Europe
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Beds Limited

Customers :

Wholesaler and Retailers

v Arihant Distributors

No. of Employees :

800 (Approximately)

Bankers :

Bank of India, Malad (West) Branch, Swami Vivekanand Road, Post Box No. 7603, Mumbai – 400064, Maharashtra, India

Facilities :

LC – Rs. 150.000 Millions

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Working capital loans banks secured	163.568	74.485
Total	163.568	74.485
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Working capital loans banks unsecured	49.999	0.000
Total	49.999	0.000

Banking Relations :	--
Auditors :
Name :	N.B Purohit and Company Chartered Accountant
Address :	104 Flyover Apartments N S Phadke Road Andheri-East Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-30972415
Fax No.:	91-22-22061533
E-Mail :	nbpurohit@hathway.com
PAN No.:	AADPP3816G
Joint Venture :	Manek Lodge Property, India
Subsidiaries :	v John Oak Remedies Private Limited (U24239MH1994PTC079675) v Eternia Cosmetics Private Limited (U24246MH1992PTC070198)

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Share	Rs.10/- each	Rs. 110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4672063	Equity Share	Rs.10/- each	Rs. 46.721 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		46.721	46.721	46.720
2] Share Application Money		111.816	111.816	0.000
3] Reserves & Surplus		1247.356	1221.790	952.813
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1405.893	1380.327	999.533
LOAN FUNDS
1] Secured Loans		163.568	74.485	1.018
2] Unsecured Loans		49.999	0.000	0.000
TOTAL BORROWING		213.567	74.485	1.018
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1619.460	1454.812	1000.551
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		975.858	936.764	222.294
Capital work-in-progress		76.820	76.408	167.388
INVESTMENT		6.903	6.763	47.093
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	390.469	243.271	195.983
	Sundry Debtors	95.704	78.443	68.970
	Cash & Bank Balances	82.966	117.547	137.188
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	307.810	284.761	344.211
Total Current Assets		876.949	724.022	746.352
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	226.599	216.704	126.857
	Other Current Liabilities	50.199	20.262	34.534
	Provisions	40.272	52.179	21.185
Total Current Liabilities		317.070	289.145	182.576
Net Current Assets		559.879	434.877	563.776
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1619.460	1454.812	1000.551

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2933.470	3290.833	2835.900
		Other Income	0.000	0.000	22.040
		TOTAL (A)	2933.470	3290.833	2857.940
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	2769.453	2776.899	2753.836
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		164.017	513.934	104.104
Less	FINANCIAL EXPENSES (D)		10.566	2.377	1.175
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		153.451	511.557	102.929
Less/ Add	DEPRECIATION/ AMORTISATION (F)		126.821	30.763	31.313
	PROFIT BEFORE TAX (E-F) (G)		26.630	480.794	71.616
Less	TAX (H)		1.064	100.002	39.290
	PROFIT AFTER TAX (G-H) (I)		25.566	380.792	32.326
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	47.515	51.841	32.528
	IMPORTS
		Raw Materials	0.000	17.465	22.178
	Earnings Per Share (Rs.)		5.47	81.50	6.92

Particulars	31.03.2012
Sales Turnover (Approximately)	3250.000

Expected Sales ( 2012-2013 ) : Rs. 3500.000 Millions

The above information has been parted by Mr. Navin (Accounts Manager)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.87	11.57	1.13
Net Profit Margin (PBT/Sales)	(%)	0.91	14.61	2.53
Return on Total Assets (PBT/Total Assets}	(%)	1.44	28.95	7.39
Return on Investment (ROI) (PBT/Networth)		0.02	0.35	0.07
Debt Equity Ratio (Total Liability/Networth)		0.38	0.26	0.18
Current Ratio (Current Asset/Current Liability)		2.77	2.50	4.09

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Creditors due small micro enterprises	226.599	215.601	126.857
Creditors due others	0.000	1.103	0.000
Total	226.599	216.704	126.857

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

Note: The registered address of the company has been shifted from C-101, Innova, Marathon Next Gen., Off G.K.Marg, Opp. Penanshula Corporate Park, Lower Parel (W), Mumbai – 400013, Maharashtra, India to the present address w.e.f. 08.11.2011

FINANCIAL RESULTS:

During the year, the sales of the Company have gone down to Rs. 2933.500 Millions as against Rs. 3290.800 Millions in the previous year down by about 10 % due to stiff competition in the market. The Net Profit after taxation for the year also gone down to Rs. 25.500 Millions as compared to Rs. 380.800 Millions in the previous year. The Company has continued its efforts to tap the rural and urban markets, through innovative promotional schemes. The Company also continues to face pressure on margins due to increase in the input costs and stiff competition in the market.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24249MH1992PTC068971
Name of the company	ANCHOR HEALTH AND BEAUTY CARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-201,Innova , Marathon Next Gen, Off G.K. Marg Opposite Peninshula Corporate Park, Lower Parel (W) Mumbai – 400013, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book debts Movable property
Particular of charge holder	Bank of India, Malad (west) Branch, Swami Vivekanand Road, Post Box No. 7603, Mumbai – 400064, Maharashtra, India Email ID: maladw.mumbainorth@bankofindia.co.in
Nature of description of the instrument creating or modifying the charge	Hypothecation cum Loan Agreement (Plant and Machinery , Stocks and Book Debts)
Date of instrument Creating the charge	18.05.2010
Amount secured by the charge	Rs. 100.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 1% over BPLR presently 13% p.a. with monthly rests or at such other rate/s of interest as may be notified by the Bank from time to time. Terms of Repayment On Demand. Margin 25% against raw material ,finished goods; 40% against book debts outstanding of 2 or 3 months or as specified by the bank from time to time . Extent and Operation of the charge Security and charge hereby created shall be by way of first charge on all the said hypothecated assets for due payment as provided in the deed of all monies including the principal sums, interest/commission costs charges and expenses and all other monies whatsoever due owing and payable by the Borrower to the Bank under or in respect of or in connection with or in any wise concerning or relating to the said facilities agreed to be granted and/or granted by the Bank to the Others borrower and also for due repayment of all present and future indebtedness and liabilities of the borrower to the Bank of any kind in any manner whether solely or jointly primary or collateral accrued or accruing with all relative interest/commission, charges , costs (between advocate & client) and expenses. Facility and Limit: 1) Cash Credit (Stock + Book debts) Rs.100.000 Millions.
Short particulars of the property charged	a) All tangible movable machineries and plant, both present and future situate at Haridwar or wherever else b) All tangible movable properties, assets, and stocks of whatsoever nature of the Borrower both present & future wheresoever situate at Haridwar or elsewhere. c) All present and future book debts, outstanding, money receivables, claims, bills which are now due and owing or which may any time hereafter during the continuance of this security become due and owing to the Borrower.

TRADE REFERENCES:

v Arihant Distributors

v Beds Limited

FIXED ASSETS:

v Freehold Land

v Leasehold

v Shed Building

v Res. Flat and Cottage

v Furniture

v Plant and Machinery

v Computer

v Computer Software

v Vehicles

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. 56.02
UK Pound	1	Rs. 86.89
Euro	1	Rs. 67.84

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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.