MIRA INFORM REPORT

Report Date :

05.06.2012

IDENTIFICATION DETAILS

Name :	PLYTOUCH ENGINEERING PRIVATE LIMITED
Registered Office :	101, Balaji Estate, Opposite Avtar Hotel, Isahpur, Narol Raod, Ahmedabad, Gujarat, India
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	01.05.2001
Com. Reg. No.:	04-039479
Capital Investment/ Paid-up Capital:	Rs.0.400 Million
CIN No.: [Company Identification No.]	U29199GJ2001PTC039479
TAN No.: [Tax Deduction & Collection Account No.]	AHMP00352C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of OEMC original Equipments.
No. of Employees:	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 5000
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 fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Kaushik Gajjar
Designation :	Director
Contact No.:	91-94270068488
Date :	17.05.2012

LOCATIONS

Registered Office/Factory :	101, Balaji Estate, Opposite Avtar Hotel, Isahpur, Narol Raod, Ahmedabad, Gujarat, India
Tel. No.:	91-79-25733776/30425823
Mobile No.:	91-94270068488 (Mr. Kaushik Gajjar)
Fax No.:	91-79-25733775
E-Mail :	banandco@hotmail.com info@plytouch.com
Website :	www.plytouch.com
Area :	1100 Sq. ft
Location :	Owned

/DIRECTORS

As on 25.09.2011

Name :

Mr. Kaushik Gajjar

Designation :

Director

Address :

A-40, Hariom Nagar, opp. Atma Mangal Hall, Ghodasar, Ahmedabad- 380050, Gujarat, India

Date of Birth/Age :

01.06.1965

Date of Appointment :

01.05.2011

Din No.:

00490273

Other Directorship:

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	U29199GJ2001PTC039479	PLYTOUCH ENGINEERING PRIVATE LIMITED	Director	1/5/2001	1/5/2001	-	Active	NO
2	U25200GJ2000PTC038783	AIM LAMINAR PRIVATE LIMITED	Director	21/04/2007	21/04/2007	-	Active	NO

Name :

Mr. Ajit Kumar Gajjar

Designation :

Director

Address :

A-40, Hariom Nagar, opp. Atma Mangal Hall, Ghodasar, Ahmedabad- 380050, Gujarat, India

Date of Birth/Age :

24.10.1942

Date of Appointment :

01.05.2011

Din No.:

00490155

Other Directorship:

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	U29199GJ2001PTC039479	PLYTOUCH ENGINEERING PRIVATE LIMITED	Director	1/5/2001	1/5/2001	-	Active	NO
2	U25200GJ2000PTC038783	AIM LAMINAR PRIVATE LIMITED	Director	21/04/2007	21/04/2007	-	Active	NO

Name :

Mr. Miten Gajjar

Designation :

Director

Address :

A-40, Hariom Nagar, opp. Atma Mangal Hall, Ghodasar, Ahmedabad- 380050, Gujarat, India

Date of Birth/Age :

05.01.1972

Date of Appointment :

01.05.2011

Din No.:

00490063

Other Directorship:

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	U29199GJ2001PTC039479	PLYTOUCH ENGINEERING PRIVATE LIMITED	Director	1/5/2001	1/5/2001	-	Active	NO
2	U25200GJ2000PTC038783	AIM LAMINAR PRIVATE LIMITED	Director	21/04/2007	21/04/2007	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2011

Names of Shareholders	No. of Shares
Ajit Kumar Gajjar	16000
Kaushik Gajjar	8000
Miten Gajjar	8000
Hansaben Gajjar	8000
Total	40000

As on 25.09.2011

Category	Percentage
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of OEMC original Equipments.
Products :	OEM
Countries :	Bangladesh Abudabi
Imports :
Products :	Raw Material
Countries :	Korea
Terms :
Selling :	Cash/Credit
Purchasing :	Cash/Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

20 (Approximately)

Bankers :

· Bank of Baroda, Vatva Branch

· ICICI Bank Limited

Facilities :

Rs .in Millions

SECURED LOAN	31.03.2011	31.03.2010
From Bank of Baroda
Cash Credit Account No – 15960500004539 Against hypothecation of inventories and Book Debts (The above loan are further Secured by Equitable mortgage Factory and& Building and also personally guaranteed Directors the Company)	0.860	0.751
From HDFC Bank Limited against Hypothecation of Motor Cars	1.190	0.483
Total	2.050	1.234
UNSECURED LOAN	31.03.2011	31.03.2010
From Directors	1.681	0.000
From Relatives	0.540	0.393
Current Account overdrawn with Scheduled Bank	0.763	0.000
Business Loans from Banks	0.826	0.430
	3.810	0.823

Cash Credit – 0.100 Million (ICICI Bank Limited)

Banking Relations :	--
Auditors :
Name :	B A Pavagadhi and Company Chartered Accountant
Address :	304 -305, Shagun Complex, 93/B, Swastik Society, Near Xavier’S Ladies Hostel, Navarangpura, Ahmedabad- 380006, Gujarat, India
Tel. No.:	91-79-26405122/26405139
Email:	bpavagadhi@vsnl.net
Pan No. :	AAKPJ5048H

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Share	Rs.10/- each	Rs.0.400 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000	Equity Share	Rs.10/- each	Rs.0.400 Million

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		0.400	0.400	0.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.801	0.564	0.387
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.201	0.964	0.787
LOAN FUNDS
1] Secured Loans		2.050	1.234	1.268
2] Unsecured Loans		3.810	0.823	2.872
TOTAL BORROWING		5.860	2.057	4.140
DEFERRED TAX LIABILITIES		0.010	0.021	0.044
TOTAL		7.071	3.042	4.971
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.944	3.270	3.708
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.015	0.015	0.015
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.835	4.102	3.632
	Sundry Debtors	7.092	2.529	5.109
	Cash & Bank Balances	0.740	0.773	0.509
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.655	9.238	4.476
Total Current Assets		15.322	16.642	13.726
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	12.067	16.764	12.430
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.143	0.121	0.048
Total Current Liabilities		12.210	16.885	12.478
Net Current Assets		3.112	(0.243)	1.248
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.071	3.042	4.971

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	18.362	13.440	9.252
		Other Income	0.290	0.207	0.301
		Deferred Tax Assets	0.011	0.023	0.000
		TOTAL (A)	18.663	13.670	9.553
Less	EXPENSES
		Raw Material and other Manufacturing Expenses	13.540	10.778	6.288
		Payment to employees	0.328	0.370	0.526
		Administrative and operating Expenses	2.502	2.051	1.904
			0.000	13.199	8.718
		Increase/Decrease in stock	0.669	(0.634)	(0.331)
		TOTAL (B)	17.039	12.565	8.387
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.624	1.105	1.166
Less	FINANCIAL EXPENSES (D)		0.707	0.312	0.611
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.917	0.793	0.555
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.526	0.485	0.376
	PROFIT BEFORE TAX (E-F) (G)		0.391	0.308	0.179
Less	TAX (H)		0.154	0.131	0.092
	PROFIT AFTER TAX (G-H) (I)		0.237	0.177	0.086
	Earnings Per Share (Rs.)		5.92	4.42	2.17

The above information has been parted by Mr. Kaushik Gajjar

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.27	1.29	0.90
Net Profit Margin (PBT/Sales)	(%)	2.13	2.29	1.93
Return on Total Assets (PBT/Total Assets}	(%)	2.02	1.55	1.03
Return on Investment (ROI) (PBT/Networth)		0.33	0.32	0.23
Debt Equity Ratio (Total Liability/Networth)		15.05	19.65	21.12
Current Ratio (Current Asset/Current Liability)		1.25	0.99	1.10

LOCAL AGENCY FURTHER INFORMATION

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

NOTE:

The Roistered office of the company has been sifted from the B -91, Balaji Estate, Isanpurannorol Road Opposite Avtar Hotel Ahmedabad, Gujarat, India to the present address.

OPERATIONS:

During the year the company has made net sales and job work of Rs.18.362 Millions as against Sales and Job Work of Rs.13.440 Millions for the year 2009-2010. The Directors put their all efforts to increase the turnover of the company during the current year and are hopeful to get better result.

FIXED ASSETS

· Factory Building

· Machineries

· Air Condition

· Furniture and Fixtures

· RO Water Plant

· Computer

· Cycle

· EPBX System

· Refrigerator

· Mobile

· Honda City Car

· Generator Set

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.55.52
UK Pound	1	Rs.85.29
Euro	1	Rs.68.86

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.