MIRA INFORM REPORT

Report Date :

22.06.2012

IDENTIFICATION DETAILS

Name :	P AND J CRETECHEM PRIVATE LIMITED
Registered Office :	42, Industrial Development Area, Mallapur, Hyderabad-500 076, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.12.2002
Com. Reg. No.:	01-040102
Capital Investment / Paid-up Capital :	Rs.5.821 Millions
CIN No.: [Company Identification No.]	U24222AP2002PTC040102
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of Construction Chemicals and Intermediates Like, Formic Acid, STPAU71 and Aluminium Sulphate.
No. of Employees :	Not Available

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 580000
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 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

LOCATIONS

Registered Office :	Shed No. 42, Phase II, Industrial Development Area, Mallapur, Hyderabad-500 076, Andhra Pradesh, India
Tel. No.:	91-40-23437617 / 23
Fax No.:	91-40-23437627
E-Mail :	lightcrete@pjcretechem.in l.d.reddy@gmail.com info@vasundhararasayans.com
Website :	www.pjcretechem.in

DIRECTORS

As on 30.09.2011

Name :

Mr. Prakash Chand Jain

Designation :

Director

Address :

6A, Iron Side Road, B-Wing, Flat No. 401, Kolkata-700 019, West Bengal, India

Date of Birth/Age :

16.09.1944

Date of Appointment :

16.12.2002

DIN No.:

00117348

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24239AP1986PTC006102	TAURUS CHEMICALS PVT LTD	Director	18-01-86	18-01-86	-	Active	NO
2	L27110UP1988PLC009780	HINDUSTAN FERRO AND INDUSTRIES LIMITED	Director	31-12-91	31-12-91	-	Active	NO
3	U65921WB1994PTC064929	SIMPLEX FINTRADE PVT. LTD.	Director	02-09-94	02-09-94	-	Active	NO
4	U25199WB1973PTC029074	TARA RUBBER WORKS PVT LTD	Director	03-06-95	03-06-95	-	Active	NO
5	U24222AP2002PTC040102	PANDJ CRETECHEM PRIVATE LIMITED	Director	16-12-02	16-12-02	-	Active	NO
6	L24110AP1987PLC007242	VASUNDHARA RASAYANS LIMITED	Managing director	23-08-11	07-10-05	-	Active	NO
7	U51909WB2008PTC126101	WINNING EDGE IMPEX PRIVATE LIMITED	Director	26-05-08	26-05-08	-	Active	NO
8	U51909WB2008PTC130562	SEAVIEW VINIMAY PRIVATE LIMITED	Director	29-07-09	29-07-09	-	Active	NO
9	U74994WB2009PTC139153	APAR FASHION PRIVATE LIMITED	Director	04-11-09	04-11-09	-	Active	NO
10	U63090WB2008PTC125597	STI LOGISTICS PRIVATE LIMITED	Director	15-02-10	15-02-10	-	Active	NO
11	U70102WB2010PTC143783	STI PROJECTS PRIVATE LIMITED	Director	16-03-10	16-03-10	-	Active	NO
12	U70102WB2010PTC143782	STI DEVELOPERS PRIVATE LIMITED	Director	16-03-10	16-03-10	-	Active	NO

Name :

Mr. Sunil Kumar Jain

Designation :

Director

Address :

8-2-686/ D/ 1/ A, Road No.12, Banjara Hills, Hyderabad-500 034, Andhra Pradesh, India

Date of Birth/Age :

18.01.1962

Date of Appointment :

16.12.2002

DIN No.:

00117331

Other Directoship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U55101AP1984PTC004782	RAJDHANI HOTELS PRIVATE LIMITED	Director	13-11-85	13-11-85	-	Active	NO
2	U24239AP1986PTC006102	TAURUS CHEMICALS PVT LTD	Managing director	17-01-86	17-01-86	-	Active	NO
3	U24222AP2002PTC040102	PANDJ CRETECHEM PRIVATE LIMITED	Director	16-12-02	16-12-02	-	Active	NO
4	L24110AP1987PLC007242	VASUNDHARA RASAYANS LIMITED	Whole-time director	01-04-08	07-10-05	-	Active	NO

Name :

Mr. Rajesh Pokerna

Designation :

Director

Address :

3-4-56, Lingampally Road, Kachiguda, Hyderabad-500 027, Andhra Pradesh, India

Date of Birth/Age :

27.09.1965

Date of Appointment :

16.12.2002

DIN No.:

00117365

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24222AP2002PTC040102	PANDJ CRETECHEM PRIVATE LIMITED	Director	16-12-02	16-12-02	-	Active	NO
2	L24110AP1987PLC007242	VASUNDHARA RASAYANS LIMITED	Whole-time director	01-04-08	07-10-05	-	Active	NO
3	U72900AP2006PTC049278	GLOBAL SINTER PRODUCTS PVT LTD	Director	24-03-06	24-03-06	02-05-08	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sunil Kumar Jain	6950
Rajesh Pokerna	5100
B. K. Pokerna	4350
Babulal Jain	4200
Madan Devi Pokerna	3750
Sanjay Kumar Jain	3500
Prakash Chand Jain (HUF)	3000
Alka Jain	3000
Prakash Chand Jain	3000
Manish Kumar Jain	3000
Kalpana Pokerna	2900
Sanjay Kumar Jain	1300
Dr. Jyothi Ostwal	2250
Simplex Fintrade Private Limited	1650
Gunmala Devi Jain	500
Rama Devi Jain	500

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	8.30
Directors or relatives of Directors	91.70
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and Exporters of Construction Chemicals and Intermediates Like, Formic Acid, STPAU71 and Aluminium Sulphate.
Products and Services:	· Sodium compounds · Potassium and ammonium compounds · Light metal compounds · Organic acids, their anhydrides and acid halides

GENERAL INFORMATION

Customers :	· S. P. Collage, Hyderabad · Kanakdhara Ventures · Micro Labs, (Banglore and Goa)
No. of Employees :	Not Available
Bankers :	· State Bank of India, CNW Branch, Commercial Branch, Ashok Bhupal Chambers, Secunderabad, India · Axis Bank · HDFC Bank, Secunderabad Branch, India · HDFC Bank Limited, Senapati Bapat Marg, Lower Parel, Mumbai. Maharashtra, India. · ICICI Bank

Banking Relations :	--
Auditors :
Name :	Suresh Kumar Rathi and Company Chartered Accountant
Address :	4-3-161/39, Second Floor, Hill Street, Secunderabad, Hyderabad-500 003, Andhra Pradesh, India.
PAN.:	ABHPP9666H

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
125,000	Equity Shares	Rs.100/- each	Rs.12.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
58,210	Equity Shares	Rs.100/- each	Rs.5.821 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		5.821	5.821	5.821
2] Share Application Money		9.242	9.242	9.242
3] Reserves & Surplus		130.157	128.455	121.507
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		145.220	143.518	136.570
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		145.220	143.518	136.570
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.406	17.537	19.304
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		29.374	31.225	36.684
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	9.789	18.569	8.957
	Sundry Debtors	15.610	10.546	16.995
	Cash & Bank Balances	3.602	2.955	10.539
	Other Current Assets	4.268	3.166	20.451
	Loans & Advances	56.898	47.812	27.294
Total Current Assets		90.167	83.048	84.236
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.386	3.718	3.129
	Other Current Liabilities	0.000	0.050	0.022
	Provisions	0.216	0.029	0.650
Total Current Liabilities		2.602	3.797	3.801
Net Current Assets		87.565	79.251	80.435
MISCELLANEOUS EXPENSES		0.090	0.119	0.147
Deposits		11.785	15.386	0.000
TOTAL		145.220	143.518	136.570

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	71.907	65.721	55.979
		Other Income	NA	6.726	3.339
		Exchange Fluctuation	NA	0.065	4.799
		TOTAL (A)	NA	72.512	64.117
Less	EXPENSES
		Cost of Goods Sold	NA	43.122	36.405
		Selling and Distribution Expenses	NA	5.352	7.136
		Employee Benefits	NA	4.318	4.859
		Administrative Expenses	NA	9.272	4.152
		Other Expenses	NA	0.715	0.554
		Preliminery Expenses Written Off	NA	0.029	0.029
		TOTAL (B)	NA	62.808	53.135
Less	PROFIT BEFORE INTEREST, DEPRECIATION AND AMORTISATION (A-B) (C)		4.298	9.704	10.982
Less	FINANCIAL EXPENSES (D)		0.124	0.030	0.000
	PROFIT BEFORE DEPRECIATION AND AMORTISATION (C-D) (E)		4.174	9.674	10.982
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.473	2.725	2.932
	PROFIT FOR THE YEAR (E-F) (G)		1.701	6.949	8.050
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings
		Commission Earnings
		Other Earnings
	TOTAL EARNINGS		65.961	46.154	NA
	IMPORTS
		Raw Materials	0.659	0.000
		Formic Acid and Mg. Oxide and Foreign Tour	0.000	1.503
	TOTAL IMPORTS		0.659	1.503	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	2.36	10.57	14.38
Return on Total Assets (PBT/Total Assets}	(%)	1.60	6.91	7.77
Return on Investment (ROI) (PBT/Networth)		0.01	0.05	0.06
Debt Equity Ratio (Total Liability/Networth)		0.02	0.03	0.03
Current Ratio (Current Asset/Current Liability)		34.65	21.87	22.16

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	No
9) Name of person contacted	No
10) Designation of contact person	No
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	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	No
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
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

ACTIVITY OF THE COMPANY

During the year the company achieved turnover of Rs.71.907 Millions compare to previous year of Rs.65.721 Millions, since market condition was improved from previous year.

FINANCIAL RESULTS

The company has derived a net profit of Rs.1.701 Millions on turnover of Rs.71.907 Millions after providing fro depreciation of Rs.2.473 Millions as against the profit of Rs.6.949 Millions on a turnover of Rs.65.721 Millions for 31.03.2010. Cause of Lower Profit is increased in Input Cost of Raw material as well other variable cost and same has been not affected for sale price.

FUTURE PROSPECTS:

The products manufactured by the company are well received in the market due to the excellent quality and timely delivery schedule. The directors are hopeful that the turnovers for the year ending 31.03.2012 would be encouraging.

FIXED ASSETS:

· Plant and Machinery

· Furniture and Fixture

· Computer

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.56.41
UK Pound	1	Rs.88.44
Euro	1	Rs.71.52

INFORMATION DETAILS

Report Prepared by :

DPTP

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	NO
--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		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.