MIRA INFORM REPORT

Report Date :

07.03.2012

IDENTIFICATION DETAILS

Name :	RAPTURE INDIA FOOTCARE COMPANY PRIVATE LIMITED
Registered Office :	11/974-B, Mundupalam Kuttikkattur Road, Perumanna Post, Calicut – 673 026, Kerala
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.10.2005
Com. Reg. No.:	09-018727
Capital Investment / Paid-up Capital :	Rs.3.263 millions
CIN No.: [Company Identification No.]	U19201KL2005PTC018727
TIN No.:	32110936615
TAN No.: [Tax Deduction & Collection Account No.]	CHNR00640D
PAN No.: [Permanent Account No.]	AADCR1243A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Dealer of Footwear.
No. of Employees :	Not Available

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 11000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. These appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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/ Head Office :	11/974-B, Mundupalam Kuttikkattur Road, Perumanna Post, Calicut – 673 026, Kerala, India
Tel. No.:	91-495-2430360/ 2433377/ 2564080
Fax No.:	91-495-2422113
E-Mail :	odyssia1@gmail.com raptureindia@yahoo.com c_akhilesh@yahoo.com
Website :	www.odyssia.in

DIRECTORS

As on 30.09.2010

Name :

Mr. Sasidharan Parothingal

Designation :

Director

Address :

Rajatham Kannattikulam Kolathara (Post), Calicut – 673 655, Kozhikode, Kerala, India

Date of Birth/Age :

01.12.1956

Date of Appointment :

28.10.2005

DIN No.:

01910859

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	U52324KL2002PTC015780	Leefong Exim Private Limited	Director	25-01-05	25-01-05	-	Active	NO
2	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	28-10-05	28-10-05	-	Active	NO
3	U19202KL2005PTC018989	Giga Footwear Company Private Limited	Managing director	27-12-05	27-12-05	16-03-09	Active	NO
4	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	15-12-08	15-12-08	-	Active	NO
5	U19200KL2011PTC027953	Polytek Footwear company Private Limited	Director	16-03-11	16-03-11	-	Active	NO
6	U51312KL2011PTC028277	Leefong Trading Company Private Limited	Director	02-05-11	02-05-11	-	Active	NO

Name :

Mr. Cheral Akhilesh

Designation :

Director

Address :

Cheral House, Kolathara (Post), Calicut – 673 655, Kozhikode, Kerala, India

Date of Birth/Age :

17.05.1972

Date of Appointment :

28.10.2005

DIN No.:

01221277

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	U24134KL1997PTC011489	Trouper Poly Vinyl Private Limited	Managing director	01-04-05	01-04-05	Active	YES
2	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	01-05-08	28-10-05	Active	NO
3	U24134KL1998PTC012600	Soltek Polymers Private Limited	Managing director	01-07-11	01-07-11	Active	NO

Name :

Mr. Elayedath Fazal Rahiman

Designation :

Director

Address :

Elayedath House, Kolathara, Calicut – 673 655, Kerala, India

Date of Birth/Age :

20.05.1969

Date of Appointment :

01.05.2008

DIN No.:

00075364

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	U52324KL2002PTC015780	Leefong Exim Private Limited	Managing director	25-01-05	25-01-05	Active	NO
2	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	01-05-08	01-05-08	Active	NO
3	U51312KL2011PTC028277	Leefong Trading Company Private Limited	Managing director	02-05-11	02-05-11	Active	NO
4	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	01-12-11	01-12-11	Active	NO

Name :

Mr. Damodaran Paranattil

Designation :

Managing Director

Address :

Pink Odepc Housing Colony, Kolathara Post, Cheruvannur – 673 655, Kozhikode, Kerala, India

Date of Birth/Age :

10.12.1952

Date of Appointment :

01.05.2008

DIN No.:

02213178

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	U24134KL1997PTC011489	Trouper Poly Vinyl Private Limited	Director	30-09-02	30-09-02	Active	YES
2	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Managing director	01-05-08	01-05-08	Active	NO
3	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	01-12-11	01-12-11	Active	NO

Name :

Mr. Peedikakakkandi Jishi

Designation :

Director

Address :

Peedikakakkandi, Kolathara Post, Calicut – 673 655, Kerala, India

Date of Birth/Age :

01.06.1967

Date of Appointment :

01.05.2008

DIN No.:

00066439

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	U52324KL2002PTC015780	Leefong Exim Private Limited	Director	25-01-05	25-01-05	Active	NO
2	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	01-05-08	01-05-08	Active	NO
3	U19200KL2011PTC027953	Polytek Footwear company Private Limited	Managing director	16-03-11	16-03-11	Active	NO
4	U51312KL2011PTC028277	Leefong Trading Company Private Limited	Director	02-05-11	02-05-11	Active	NO
5	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	01-12-11	01-12-11	Active	NO

Name :

Mr. Santhosh Kaduvanvally

Designation :

Director

Address :

Kadukan Vally House, Parannurpo, Calicut – 676 585, Kerala, India

Date of Appointment :

20.02.2009

DIN No.:

02505632

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	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	20-02-09	20-02-09	Active	NO
2	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	01-12-11	01-12-11	Active	NO

Name :

Mr. Rajeev Atholy

Designation :

Director

Address :

Atholi House, Kolathara Post, Calicut – 673 655, Kerala, India

Date of Appointment :

20.02.2009

DIN No.:

01689794

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	U70100KL2007PLC021597	Perfecttitles Property Developers Limited	Director	26-12-07	26-12-07	27-02-12	Active	NO
2	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	15-12-08	15-12-08	-	Active	NO
3	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	20-02-09	20-02-09	-	Active	NO

Name :

Mr. Feroz Mappilakandy

Designation :

Director

Address :

M.K. House, Olavanna P.O., Calicut – 673 025, Kerala, India

Date of Appointment :

30.01.2010

DIN No.:

02807937

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	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	30-01-10	30-01-10	Active	NO
2	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	01-10-11	01-10-11	Active	NO

Name :

Nanam Chirakkal Abdul Nazer

Designation :

Director

Address :

Fida Mahal, Mathotam P.O., Arakkinar, Calicut – 673 028, Kerala, India

Date of Birth/Age :

15.02.1962

Date of Appointment :

30.01.2010

DIN No.:

02923421

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	U24134KL1997PTC011489	Trouper Poly Vinyl Private Limited	Director	30-09-02	30-09-02	Active	YES
2	U19201KL2005PTC018727	Rapture India Footcare Company Private Limited	Director	30-01-10	30-01-10	Active	NO
3	U24134KL1998PTC012600	Soltek Polymers Private Limited	Director	01-12-11	01-12-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Damodaran P.	10
P. Sasidharan	4500
Abdul Nazar N.C.	1125
Fazal Rahiman E.	2250
Akhilesh C.	4500
Jishi P.	3575
Santhosh K.V.	2250
Firoz M.K.	4500
Rajeev A.	2970
Delijith V.	450
Hareesh	1080
R. Chandran	450
Shamnaz. T.	450
Manjula P.C.	1350
T. Muhammed Hassan	450
Mubarak. M.	900
P. Bharathan	325
Shamej K.	900
Swapna A.K.	600
Total	32635

As on 01.12.2011

Names of Allottees	No. of Shares
Kulangara Thopuparambil Mammunni Ashraf	2250
Total	2250

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Dealer of Footwear.

Products :

Item Code No (ITC Code)	Production Description
6402	Polyurethane Footwear

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	2009-10
Footwear
Licensed Capacity	3000 pairs per day
Installed Capacity	3000 pairs per day
Actual Production	508280 pairs

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

v State Bank of India, RASMECCC, Kallai Heights, Calicut – 673 003, Kerala, India

v State Bank of India, Kallai Road, Calicut, Calicut – 673 003, Kerala, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
a) TERM LOANS
i) From Banks Rupee Loans	2.076	3.130
ii) From Others Rupee Loans	0.276	0.512
b) WORKING CAPITAL LOANS
i) From Banks Rupee Loans	7.887	6.182
Total	10.239	9.824

Notes:

1. Term Loans referred to in A above are secured to the extent of -

Rs.1.897 millions by pledge of PU machine and other machinery

Rs.0.450 million by hypothecation of car.

Rs.0.004 million by hypothecation of cargo vehicles.

2. Working Capital Loan amounting to Rs.7.887 millions is secured by hypothecation of present and future stock of raw materials and finished goods and book debts and by collateral security of 66.25 cents of land in S No.18 RS No.13 of Perumanna Village, Kozhikode District

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
a) Long Term
i) From Others (Shareholders)	2.612	2.367
Total	2.612	2.367

Unsecured loans referred to in A i) are Rs.0.612 million from Directors and Rs.2.000 millions from related concerns.

Banking Relations :	--
Auditors :
Name :	Sandhya Bhaskar Chartered Accountant
Address :	Bemplassery, Tali, Calicut – 673 001, Kerala, India
Tel. No.:	91-495-4010073
E-Mail :	sandhyasudhish@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	AWVPS6169H
Related Party :	v Zamooria Footwear People v Lee Fong Exim (Private) Limited v Giga Footwear Company (Private) Limited

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
35000	Equity Shares	Rs.100/- each	Rs.3.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
34985	Equity Shares	Rs.100/- each	Rs.3.498 millions

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
35000	Equity Shares	Rs.100/- each	Rs.3.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
32635	Equity Shares	Rs.100/- each	Rs.3.263 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		3.263	3.263	0.726
2] Share Application Money		0.000	0.100	2.519
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.579)	(1.204)	(2.651)
NETWORTH		2.684	2.159	0.594
LOAN FUNDS
1] Secured Loans		10.239	9.824	8.899
2] Unsecured Loans		2.612	2.367	1.511
TOTAL BORROWING		12.851	12.191	10.410
DEFERRED TAX LIABILITIES		0.957	0.915	0.164
TOTAL		16.492	15.265	11.168
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.076	8.949	7.273
Capital work-in-progress		0.000	0.071	0.018
INVESTMENT		2.173	1.313	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11.009	6.839	3.424
	Sundry Debtors	1.041	2.704	2.084
	Cash & Bank Balances	0.247	0.868	0.120
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.083	2.033	0.919
Total Current Assets		15.380	12.444	6.547
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.009	7.883	6.494
	Other Current Liabilities	1.048	2.306	0.022
	Provisions	0.048	0.275	0.089
Total Current Liabilities		11.105	10.464	6.605
Net Current Assets		4.275	1.980	(0.058)
MISCELLANEOUS EXPENSES		1.968	2.952	3.935
TOTAL		16.492	15.265	11.168

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Net Turnover	80.887	69.381	30.746
		Other Income	1.578	0.044	0.083
		TOTAL (A)	82.465	69.425	30.829
Less	EXPENSES
		Variation in Stocks	(4.991)	(1.605)	(0.887)
		Materials Consumed	52.378	45.716	20.580
		Production Expenses	1.193	1.020	0.445
		Payments to and Provisions for Employees	5.313	3.680	1.149
		Establishment Expenses	1.858	1.472	0.313
		Sales and Distribution Expenses	22.936	13.371	5.019
		TOTAL (B)	78.687	63.654	26.619
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.778	5.771	4.210
Less	INTEREST & FINANCIAL EXPENSES (D)		1.007	1.607	1.346
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.771	4.164	2.864
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.300	1.767	1.619
	PROFIT BEFORE TAX (E-F) (G)		0.471	2.397	1.245
Less	TAX (H)		(0.154)	0.950	0.000
	PROFIT AFTER TAX (G-H) (I)		0.625	1.447	1.245
	IMPORTS
		Spare Parts	0.000	0.040	NA
	TOTAL IMPORTS		0.000	0.040	NA
	Earnings Per Share (Rs.)		19.15	58.06	171.45

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.76	2.08	4.04
Net Profit Margin (PBT/Sales)	(%)	0.58	3.45	4.05
Return on Total Assets (PBT/Total Assets}	(%)	2.01	11.20	9.01
Return on Investment (ROI) (PBT/Networth)		0.18	1.11	2.09
Debt Equity Ratio (Total Liability/Networth)		8.93	10.49	28.64
Current Ratio (Current Asset/Current Liability)		1.38	1.19	0.99

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL HIGHLIGHTS:

The total Turnover of the company during the financial year 2009-10 is Rs.80.887 millions and the Total Expenditure is Rs.86.985 millions. The Operation has resulted in a net profit of Rs.0.625 million.

FIXED ASSETS:

v Land and Building

v Land Development

v Well

v Building

v Plant and Equipments

v Pumpset and Accessories

v Air Drier

v Chiller

v Conveyor and Trolley

v Compressor

v Industrial Oven

v Generator

v PU Machine

v Servo Stabiliser

v Stabiliser

v Strapping Machine

v S.S. Tank

v Water Tank

v Tools and Equipments

v Footwear Moulds

v Dies and Patterns

v Furniture and Fittings

v Electrical Installation

v Cargo Carrier

v Motor Cars

v Two Wheeler

v Air Conditioner

v Nokia Mobile Handset

v EPABX System

v Telephones

v Computer and Accessories

v UPS

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.50.03
UK Pound	1	Rs.79.32
Euro	1	Rs.66.02

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	NO
--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.