MIRA INFORM REPORT

Report Date :

02.03.2012

IDENTIFICATION DETAILS

Name :	UNIVERSAL CORPORATION LIMITED
Registered Office :	234 FIE, Patparganj Industrial Area, Patparganj, Delhi-110092
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.02.2000
Com. Reg. No.:	55-103817
Capital Investment / Paid-up Capital :	Rs.17.922 Million
CIN No.: [Company Identification No.]	U74899DL2000PLC103817
TAN No.: [Tax Deduction & Collection Account No.]	DELU01700G
PAN No.: [Permanent Account No.]	AAACU3756A
Legal Form :	A closely Held Public Limited Liability Company
Line of Business :	Trading in Cosmetics, Toiletory Items, Juice and Confectionery Items etc
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 830000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory tracks. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal 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

LOCATIONS

Registered Office :	234 FIE, Patparganj Industrial Area, Patparganj, Delhi-110092, India
Tel. No.:	91-11-45142949
Mobile No.:	91-9331062120 (Mr. Nitin Agarwal)
Fax No.:	Not Available
E-Mail :	manojsinghee@gmail.com
Corporate Office :	4/1, Middleton Street, Kolkata-700072, West Bengal, India
Tel. No :	91-33-22807067

DIRECTORS

As on 11.08.2011

Name :

Mr. Nitin Agarwal

Designation :

Whole-time Director

Address :

92/93, Nalini Rahjan, Avenue Block-B, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

07.09.1977

Qualification :

B.Com

Date of Appointment :

11.04.2000

DIN No :

00034408

Mobile No.:

91-9331062120

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	U51909WB1994PTC066589	ZINNIA TRADING PRIVATE LIMITED	Director	10-03-98	10-03-98	Active	NO
2	U74899DL2000PLC103817	UNIVERSAL CORPORATION LIMITED	Whole-time director	11-08-11	11-04-00	Active	NO
3	U27106DL2004PLC130754	BHADRASHREE STEEL & POWER LIMITED	Director	24-06-08	01-01-05	Active	NO
4	U51109WB2006PTC108337	NEW ERA DEALCOM Private Limited	Director	23-08-06	23-08-06	Active	NO
5	U51909KA2006PTC040695	AMAZON DISTRIBUTORS PRIVATE LIMITED	Director	09-10-06	09-10-06	Active	NO
6	U27104KA2008PTC047173	AMAZON STEELS PRIVATE LIMITED	Director	16-07-08	16-07-08	Under Process of Striking off	NO
7	U51109WB1995PTC069154	WISDOM DEALERS PRIVATE LIMITED	Additional director	06-09-10	06-09-10	Active	NO
8	U70109WB2010PTC156406	EXOTIC INFRABUILD PRIVATE LIMITED	Director	30-12-10	30-12-10	Active	NO
9	U70109WB2010PTC156405	DELTA INFRAPROPERTIES PRIVATE LIMITED	Director	30-12-10	30-12-10	Active	NO
10	U70109WB2010PTC156404	CORAL INFRAPROPERTIES PRIVATE LIMITED	Director	30-12-10	30-12-10	Active	NO
11	U70109WB2011PTC157867	DHRUV INFRABUILD PRIVATE LIMITED	Director	24-01-11	24-01-11	Active	NO
12	U52390WB2011PTC159999	THRS VANIJYA PRIVATE LIMITED	Director	11-08-11	11-08-11	Active Bottom of Form

Name :

Mr. Nilesh Agarwal

Designation :

Whole-time Director

Address :

92/93, Nalini Rahjan, Avenue Block-B, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

22.06.1980

Qualification :

B.Com

Date of Appointment :

30.07.2003

DIN No :

00066781

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	U74899DL2000PLC103817	UNIVERSAL CORPORATION LIMITED	Whole-time director	01-10-10	30-07-03	Active	NO
2	U51909KA2006PTC040695	AMAZON DISTRIBUTORS PRIVATE LIMITED	Director	09-10-06	09-10-06	Active	NO
3	U27104KA2008PTC047173	AMAZON STEELS PRIVATE LIMITED	Director	16-07-08	16-07-08	Under Process of Striking off	NO

Name :

Mr. Nishant Agarwal

Designation :

Whole-time Director

Address :

92/93, Nalini Rahjan, Avenue Block-B, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

07.08.1978

Qualification :

B.Com

Date of Appointment :

31.12.2002

DIN No :

00284750

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	U74899DL2000PLC103817	UNIVERSAL CORPORATION LIMITED	Whole-time director	11-08-11	31-12-02	Active	NO
2	U51909WB2005PTC106910	VEDANT TREXIM PRIVATE LIMITED	Director	03-04-06	03-04-06	Active	NO
3	U51109WB2006PTC108337	NEW ERA DEALCOM PRIVATE LIMITED	Director	23-08-06	23-08-06	Active	NO
4	U52324WB2007PTC112486	HEADWAY EXIM PRIVATE LIMITED	Director	10-03-08	10-03-08	Active	NO
5	U51109WB1995PTC069154	WISDOM DEALERS PRIVATE LIMITED	Additional director	06-09-10	06-09-10	Active	NO
6	U70109WB2010PTC155856	VEDANT INFRAPROPERTIES PRIVATE LIMITED	Director	16-12-10	16-12-10	Active	NO
7	U70109WB2010PTC156406	EXOTIC INFRABUILD PRIVATE LIMITED	Director	30-12-10	30-12-10	Active	NO
8	U70109WB2010PTC156405	DELTA INFRAPROPERTIES PRIVATE LIMITED	Director	30-12-10	30-12-10	Active	NO
9	U70109WB2010PTC156404	CORAL INFRAPROPERTIES PRIVATE LIMITED	Director	30-12-10	30-12-10	Active	NO
10	U45200WB2007PTC112517	LACE PROPERTIES PRIVATE LIMITED	Director	22-01-11	22-01-11	Active	NO
11	U70109WB2011PTC157867	DHRUV INFRABUILD PRIVATE LIMITED	Director	24-01-11	24-01-11	Active	NO
12	U51109WB2005PTC101494	BAHUK TRADECON PRIVATE LIMITED	Director	14-02-11	14-02-11	Active	NO
13	U51109WB2005PTC103725	SANKLAP VANIJYA PRIVATE LIMITED	Director	11-08-11	11-08-11	Active	NO
14	U70109WB2011PTC156475	EXPRESS DEVCON PRIVATE LIMITED	Director	10-01-12	10-01-12	Active	NO
15	U45400WB2012PTC172151	EVERLASTING PROCON PRIVATE LIMITED	Director	13-01-12	13-01-12	Active	NO
16	U45400WB2012PTC172150	MOONLINK DEVCON PRIVATE LIMITED	Director	13-01-12	13-01-12	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.08.2011

Names of Shareholders	No. of Shares
Dayanand Agarwal	1000
Nitin Agarwal	3040
Navin Agarwal	7300
Nitesh Agarwal	7700
Nishant Agarwal	28000
Rakhi Agarwal	7200
Satyabhama Agarwal	7200
Pathik Agencies Limited, India	484000
Anuradha Agarwal	12300
Dayanand Agarwal and Sons HUF	56000
Asian Capital Market Limited, India	11500
Asian Housing and Infrastructure Private Limited, India	9000
Adyamma Tracom Private Limited, India	66500
Lace Properties Private Limited, India	491500
Bahuk Tradecom Private Limited, India	468000
Sanklap Vanijya Private Limited, India	17000
Headway Exim Private Limited, India	75000
Wisdom Dealers Private Limited, India	40000
Total	1792240

As on 11.08.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	92.76
Directors or relatives of directors	7.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in Cosmetics, Toiletory Items, Juice and Confectionery Items etc

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Union Bank of India, Karol Bagh, New Delhi-110005, India
• ING Vysya Bank Limited, Middleton Street 4/1, Middleton Street, Kolkata-700071, West Bengal, India

Facilities :

Secured Loans	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Foreign Currency loans Secured	54.113	84.048
Working Capital Loans Secured	81.562	21.60
TOTAL	135.674	105.678
Unsecured Loans	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Other debt unsecured	58.221	88.948
TOTAL	58.221	88.948

Banking Relations :	-
Auditors :
Name :	K.L. Singhee and Company Chartered Accountants
Address :	15, India Exchange Place, Kolkata-700001, West Bengal, India
PAN No :	AACFK6449H

CAPITAL STRUCTURE

As on 11.08.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,792,240	Equity Share	RS.10/- each	Rs.17.922 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		17.922	14.642	11.377
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		189.827	149.190	111.769
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		207.749	163.832	123.146
LOAN FUNDS
1] Secured Loans		135.675	105.679	97.035
2] Unsecured Loans		58.221	88.948	98.479
TOTAL BORROWING		193.896	194.627	195.514
DEFERRED TAX LIABILITIES		0.798	0.887	0.026
TOTAL		402.443	359.346	318.686
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		28.587	32.389	21.528
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		7.656	7.656	7.589
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	205.624	228.615	182.887
	Sundry Debtors	111.682	91.812	85.124
	Cash & Bank Balances	8.484	11.772	3.130
	Other Current Assets	0.749	0.795	0.000
	Loans & Advances	108.126	61.582	89.060
Total Current Assets		434.665	394.576	360.201
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.837	20.170	18.020
	Other Current Liabilities	47.828	48.865	45.672
	Provisions	5.800	6.240	6.940
Total Current Liabilities		68.465	75.275	70.632
Net Current Assets		366.200	319.301	289.569
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		402.443	359.346	318.686

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1856.778	1409.906	937.857
		Other Income	0.120	0.097	0.320
		TOTAL (A)	1856.898	1410.003	938.177
Less	EXPENSES
		Consumption materials changes inventories	1604.977	1225.627
		Manufacturing service costs	34.406	29.898
		Employee related expenses	70.706	44.382
		Administrative selling other expenses	106.266	81.211
		TOTAL (B)	1816.355	1381.118	916.688
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		40.543	28.885	21.489
Less	INTEREST (D)		17.840	12.868	11.842
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.703	16.017	9.647
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.080	3.717	1.500
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		16.623	12.300	8.147
Less	TAX (H)		5.505	4.264	3.047
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		11.118	8.036	5.100
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		22.027	13.991	8.891
	BALANCE CARRIED TO THE B/S		33.145	22.027	13.991
	Earnings Per Share (Rs.)		7.45	7.07	6.51

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.59	0.56	0.54
Net Profit Margin (PBT/Sales)	(%)	0.89	0.87	0.86
Return on Total Assets (PBT/Total Assets}	(%)	3.82	3.11	2.26
Return on Investment (ROI) (PBT/Networth)		0.08	0.07	0.06
Debt Equity Ratio (Total Liability/Networth)		0.32	0.45	0.57
Current Ratio (Current Asset/Current Liability)		6.34	5.24	5.09

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

Corporate identity number of the company	U74899DL2000PLC103817
Name of the company	Universal Corporation Limited
Address of the registered office or of the principal place of business in India of the company	234 Fie , Patparganj Industrial Area, Delhi-110092, India
This form is for	Modification of Charge
Charge identification number of the modified	10005451
Type of charge	Book Debts Others
Particular of charge holder	Citi Bank N.A, 41, Chowringhee Road, Kolkata-700071, West Bengal, India
Nature of description of the instrument creating or modifying the charge	Deed of modification of Goods Security Agreement.
Date of instrument Creating the charge	02.03.2010
Amount secured by the charge	Rs.135.000 Million
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest @ 11.00% per annum. Terms of Repayment Repayable on demand, annually renewable. Margin Repayable on demand, annually renewable. Extent and Operation of the charge First exclusive charge on the current assets (including stocks and book debts) of the borrower present and future in favour of Citibank N.A Kolkata for the repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, costs, charges and expenses.
Short particulars of the property charged	Current assets (including stocks and book debts) of the borrower present and future.
Particulars of the present modification	By this modification the overall limit is enhanced from Rs.100.000 Million to Rs.135.000 Million and the charge is secured by first exclusive charge on the current assets (including stocks and book debts) of the borrower present and future.

Fixed Assets :

• Land
• Office/Flats
• Computers and Software
• Vehicles
• Office Equipments
• Furniture and Fixtures
• Electrical Fittings

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.49.15
UK Pound	1	Rs.78.24
Euro	1	Rs.65.56

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		41

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.