MIRA INFORM REPORT

Report Date :

06.06.2012

IDENTIFICATION DETAILS

Name :	PRIANKA GRAPHICS PRIVATE LIMITED
Registered Office :	483, Parnashree Pally, Kolkata-700060, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.03.2006
Com. Reg. No.:	21-108599
Capital Investment / Paid-up Capital :	Rs.0.815 Million
CIN No.: [Company Identification No.]	U22219WB2006PTC108599
TAN No.: [Tax Deduction & Collection Account No.]	CALP06958A
PAN No.: [Permanent Account No.]	AADCP9188N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Plastic Packaging Materials.
No. of Employees :	40 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 28000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has been successful in wiping off its accumulated losses recorded by the company. However, trade relations are reported as 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. Manish
Designation :	Manager
Contact No.:	91-9986221788
Date :	04.06.2012

LOCATIONS

Registered Office :	483, Parnashree Pally, Kolkata-700060, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9986221788 [Mr. Manish]
Fax No.:	Not Available
E-Mail :	priankagraphics@gmai.com
Location :	Owned
Factory :	M-6, 6^th Cross, 1^st Stage, Peenya Industrial Estate, Bangalore-560058, Karnataka, India
Tel. No.:	91-80-23724032
Fax No.:	91-80-23724032

DIRECTORS

As on 30.09.2011

Name :

Mr. Navin Tahlani

Designation :

Director

Address :

483, Parnashree Pally, Flat-3/A, Raaj Enclave, Kolkata-700060, West Bengal, India

Date of Birth/Age :

14.03.1974

Date of Appointment :

17.03.2006

Din No.:

00589786

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45203WB2005PTC101100	KHUSHWANI ESTATES & HOUSING PRIVATE LIMITED	Director	17-01-05	17-01-05	Active	NO
2	U51909WB1996PTC077720	VEDANT VINIMAY PRIVATE LIMITED	Director	05-09-05	05-09-05	Active	NO
3	U22219WB2006PTC108599	PRIANKA GRAPHICS PRIVATE LIMITED	Director	17-03-06	17-03-06	Active	NO
4	U51109WB1994PTC063355	WESTPORT EXPORT PRIVATE LIMITED	Director	13-12-11	13-12-11	Active	NO
5	U70109WB2012PTC173963	AMRITRASHI INFRA PRIVATE LIMITED	Director	11-02-12	11-02-12	Active	NO

Name :

Mr. Mahesh Changulani

Designation :

Director

Address :

Hari Apartment, R-N101, 117/H-1/438, Pandunagar, Kanpur-208005, Uttar Pradesh, India

Date of Birth/Age :

06.12.1963

Date of Appointment :

17.03.2006

Din No.:

01149111

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U22219WB2006PTC108599	PRIANKA GRAPHICS PRIVATE LIMITED	Director	17-03-06	17-03-06	Active	NO
2	U51909WB1996PTC077720	VEDANT VINIMAY PRIVATE LIMITED	Director	16-06-08	16-06-08	Active	NO
3	U51909WB1995PTC075164	NUTAN TRADE AND AGENCIES PRIVATE LIMITED	Director	12-03-10	12-03-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Manish
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Navin Tahlani	6500
Mahesh Changulani	5000
Maharaja Merchants Private Limited, India	20000
Rajesh Khushwani	5000
Sweta Khushwani	5000
Nutan Trade and Agencies Private Limited, India	18000
Sristi Sales Private Limited, India	20000
Nanish Nadnani	2000
Total	81500

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	71.17
Directors or relatives of directors	28.83
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Packaging Materials.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO.
Printed Laminated Roll	491191

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Actual Production
Printed Laminated Roll	Kgs.	264511.15

GENERAL INFORMATION

Suppliers :

· Jindal

Customers :

Wholesalers and Retailers

· Future Agrovet Limited

No. of Employees :

40 [Approximately]

Bankers :

HDFC Bank, Bangalore, Karnataka, India

Facilities :

Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Nutan Trade Agencies Private Limited	7.736	0.000
Vedant Vinimay Private Limited	4.877	4.627
Total	12.613	4.627

Banking Relations :	--
Auditors :
Name :	Pankaj Verma and Associates Chartered Accountants
Address :	58, Metcalfe Street, 4^th Floor, Suit No. 4A, Kolkata-700013, West Bengal, India
Tel. No.:	91-33-22118722/22375818
Fax No.:	91-33-22375818
E-Mail :	pankaj42@hotmail.com
Pan No.:	ABRPV6407G
Related Parties:	· Vedant Vinimay Private Limited · Nutan Trade Agencies Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs.1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
81500	Equity Shares	Rs.10/- each	Rs.0.815 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		0.815	0.780	0.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.222	6.120	4.500
4] (Accumulated Losses)		0.000	(0.070)	(0.261)
NETWORTH		7.037	6.830	4.839
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		12.613	4.627	4.400
TOTAL BORROWING		12.613	4.627	4.400
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		19.650	11.457	9.239
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.339	7.221	7.317
Capital work-in-progress		0.000	0.000	0.000
DEFERRED REVENUE EXPENDITURE		0.223	0.423	0.724
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.277	0.344	0.387
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.379	4.271	3.154
	Sundry Debtors	1.779	4.096	2.554
	Cash & Bank Balances	3.242	0.625	0.318
	Other Current Assets	0.008	0.007	0.007
	Loans & Advances	7.939	1.383	1.322
Total Current Assets		18.347	10.382	7.355
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.365	6.045	5.605
	Other Current Liabilities	2.826	0.621	0.698
	Provisions	0.345	0.255	0.259
Total Current Liabilities		5.536	6.921	6.562
Net Current Assets		12.811	3.461	0.793
MISCELLANEOUS EXPENSES		0.000	0.008	0.018
TOTAL		19.650	11.457	9.239

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	44.887	18.788	15.267
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	NA
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.296	1.415	1.709
Less/ Add	DEPRECIATION/ AMORTISATION		1.057	1.138	1.020
	PROFIT / (LOSS) BEFORE TAX		0.239	0.277	0.689
Less	TAX		0.067	0.086	0.220
	PROFIT / (LOSS) AFTER TAX		0.172	0.191	0.469
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.070)	(0.261)	(0.730)
	BALANCE CARRIED TO THE B/S		0.102	(0.070)	(0.261)
	Earnings / (Loss) Per Share (Rs.)		2.11	2.45	7.82

Particulars	31.03.2012
Sales Turnover [Approximately]	75.000 [Due to more orders]

Expected Sales (2012-13) : Rs.100.000 Millions.

The above information has been parted by Mr. Manish.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	0.53	1.47	4.51
Return on Total Assets (PBT/Total Assets}	(%)	0.97	1.57	4.70
Return on Investment (ROI) (PBT/Networth)		0.03	0.04	0.14
Debt Equity Ratio (Total Liability/Networth)		2.58	1.69	2.27
Current Ratio (Current Asset/Current Liability)		3.31	1.50	1.12

LOCAL AGENCY FURTHER INFORMATION

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 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)	No
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

FIXED ASSETS:

· Plant and Machinery

· Motor Car

· Motor Cycle

· Furniture and Fixtures

· Electrical Fittings

· Computer

· Fire Extinguishers

· Weighing Scale

· Air Conditioner

· Printer

· Generator

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.55.56
UK Pound	1	Rs.85.52
Euro	1	Rs.69.50

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	4
--CREDIT LINES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.