MIRA INFORM REPORT

Report Date :

06.06.2012

IDENTIFICATION DETAILS

Name :	TIRUPATI POLY ROTO LAMINATION PRIVATE LIMITED
Registered Office :	H-1-29, Badharna Industrial Area, Road No.14, V.K.I. Area, Jaipur – 302013, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.01.1999
Com. Reg. No.:	17-015301
Capital Investment / Paid-up Capital :	Rs.5.100 Millions
CIN No.: [Company Identification No.]	U28992RJ1999PTC015301
TAN No.: [Tax Deduction & Collection Account No.]	JPRT01417D
PAN No.: [Permanent Account No.]	AABCT4207E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Printed Laminates and Other Flexible Packaging Materials.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 20000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has incurred some losses in the current year (i.e. 2010-11). There appears some 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 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.

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 (General Details)

Name :	Mr. Amit Sharma
Designation :	Managing Director
Contact No.:	91-9772344440
Date :	05.06.2012

LOCATIONS

Registered Office/ Factory :	H-1-29, Badharna Industrial Area, Road No.14, V.K.I. Area, Jaipur – 302013, Rajasthan, India
Tel. No.:	91-141-2460314/ 305381
Mobile No.:	91-9772344440 (Mr. Amit Sharma)
Fax No.:	91-141-2460314
E-Mail :	tirupati_polyroto@yahoo.co.in tirupatipoly@rediffmail.com
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Amit Sharma

Designation :

Managing Director

Address :

165-166, Nemi Nagar Extension, Vaishali Nagar, Jaipur – 302021, Rajasthan, India

Date of Birth/Age :

10.11.1979

Date of Appointment :

01.11.2010

DIN No.:

02605945

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	U28992RJ1999PTC015301	TIRUPATI POLY ROTO LAMINATION PRIVATE LIMITED	Managing director	1/11/2010	1/4/2009	Active	NO

Name :

Mr. Rajendra Prasad Sharma

Designation :

Director

Address :

B-31, Devi Chitranjeev Colony, Surya Nagar, Gopalpura Bypass, Jaipur – 302015, Rajasthan, India

Date of Birth/Age :

10.07.1955

Date of Appointment :

30.04.2008

DIN No.:

02170731

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Rajendra Prasad Sharma	220000
Amit Sharma	250000
Richa Sharma	30000
Chandra Kanta Sharma	10000
Total	510000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Printed Laminates and Other Flexible Packaging Materials.

Products :

Products Description	Item Code No.
Polythene Bags Printed	3035101006

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS

Particulars	31.03.2011
Licensed Capacity	Not Applicable
Installed Capacity	300.00 M. T. P.A.
Actual Production	105.911 M. T.

GENERAL INFORMATION

Customers :

Manufacturing Company

No. of Employees :

20 (Approximately)

Bankers :

· Axis Bank Limited

O-15, Green House, Ashok Marg, C- Scheme, Jaipur – 302001, Rajasthan, India

· IDBI Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Sales tax Deferment Due	1.084	0.974
Total	1.084	0.974
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Share Holders	0.092	1.067
From Directors	7.884	9.846
Total	7.976	10.913

Banking Relations :	--
Auditors :
Name :	S G P and Associates Chartered Accountant
Address :	44-45, Katewa Chambers, Shastri Nagar, Jaipur – 302016, Rajasthan, India
PAN No.:	AADFS4498R

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
510000	Equity Shares	Rs.10/- each	Rs.5.100 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		5.100	3.500	3.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(1.587)	(1.575)	(1.743)
NETWORTH		3.513	1.925	1.757
LOAN FUNDS
1] Secured Loans		1.084	0.974	0.698
2] Unsecured Loans		7.976	10.913	6.926
TOTAL BORROWING		9.060	11.887	7.624
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		12.573	13.812	9.381
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.116	4.214	3.541
Capital work-in-progress		2.018	1.951	0.000
INVESTMENT		0.003	0.003	0.003
DEFERREX TAX ASSETS		0.645	0.640	0.736
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.344	3.050	3.128
	Sundry Debtors	10.022	9.923	2.693
	Cash & Bank Balances	1.597	0.580	0.435
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.688	0.491	0.681
Total Current Assets		14.651	14.044	6.937
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	4.974	4.750	0.031
	Other Current Liabilities	3.946	2.242	1.802
	Provisions	0.000	0.048	0.003
Total Current Liabilities		8.920	7.040	1.836
Net Current Assets		5.731	7.004	5.101
MISCELLANEOUS EXPENSES		0.060	0.000	0.000
TOTAL		12.573	13.812	9.381

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL	21.680	33.052	21.441
Less	EXPENSES
		TOTAL	21.041	32.232	20.966
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.639	0.820	0.475
Less/ Add	DEPRECIATION/ AMORTISATION		0.655	0.508	0.501
	PROFIT BEFORE TAX		(0.016)	0.312	(0.026)
Less	TAX		(0.005)	0.144	0.007
	PROFIT AFTER TAX		(0.011)	0.168	(0.033)
	Earnings Per Share (Rs.)		(0.02)	0.48	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(0.05)	0.51	(0.15)
Return on Total Assets (PBT/Total Assets}	(%)	(0.09)	1.71	(0.25)
Return on Investment (ROI) (PBT/Networth)		0.00	0.16	(0.01)
Debt Equity Ratio (Total Liability/Networth)		5.12	9.83	5.38
Current Ratio (Current Asset/Current Liability)		1.64	1.99	3.78

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	No
Type of Business	Yes
Line of Business	Yes
Promoter’s 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 in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE:

The Registered office of the company has been shifted from, S-5, Subhash Nagar Shopping Centre, Jaipur, Rajasthan, India, to the present address w.e.f. 01.10.2008.

OPERATION AND ACTIVITIES

The directors have tried their best to achieve commendable progress in the operations of the company. During the year, Total Income of the company stood at Rs.21.680 Millions as compared to Rs.33.052 Millions during the previous financial year ended March 2010. The company incurred loss after tax of Rs.0.011 Million for the year ending March, 2011 as compared to a profit after tax of Rs.0.168 million during the previous financial year. The directors are doing all possible efforts to increase the production, sales and Profitability of the company in the current financial year.

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	10138422
Corporate identity number of the company	U28992RJ1999PTC015301
Name of the company	TIRUPATI POLY ROTO LAMINATION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	H-1-29, Badharna Industrial Area, Road No. 14, V. K. I. Area, Jaipur - 302013, Rajasthan, India tirupati_polyroto@yahoo.co.in
Type of charge	Immovable Property Any Interests in Movable Property Other: Corporate Guarantee
Particular of charge holder	Axis Bank Limited O- 15 Green House, Ashok Marg, C- Scheme, Jaipur – 302001, Rajasthan, India brijesh.sharma@axisbank.com
Nature of description of the instrument creating or modifying the charge	Declaration cum confirmation deed given by Tirupati Poly Roto Lamination Private Limited dated 03.09.2011 Record of mortgage by deposit of title deed.
Date of instrument Creating the charge	03.09.2011
Amount secured by the charge	Rs.22.500 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest N.A. Terms of Repayment N.A. Margin N.A. Extent and Operation of the charge The Working Capital Facility granted to M/s Polywin Industries of Rs. 22.500 Millions includes: Cash Credit: Rs. 15.000 Millions WCDL as sub limit of CC - Rs.10.000 Millions Bill Discounting limit - Rs.7.500 Millions The above WC facility is guaranteed by Tirupati Poly Roto Lamination Private Limited. The Charge operates as first charge in favour of Axis Bank Limited. Others Other T and C as per instruments of Charge.
Short particulars of the property charged	Corporate Guarantee and equitable mortgage is created in respect of Company's immovable property situated at Plot No. H-1-29, Bhadarana Industrial Area, VKI Area Extension, Jaipur.
Date of latest modification prior to the present modification	15/12/2010
Particulars of the present modification	By this Modification the Working Capital facility is extended from Rs. 15.000 Millions to Rs.22.500 Millions

FIXED ASSETS:

· Leasehold Land

· Factory Building

· Plant and Machinery

· Printing Cylinders

· D G Set

· Furniture and Fixture

· Celluar Phone

· Fire Fighting Equipment

· Scooter

· Electric Installations

· Computer

· Air Conditioner

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 :	PDT
Report Prepared by :	NIT

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	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.