MIRA INFORM REPORT

Report Date :

28.05.2012

IDENTIFICATION DETAILS

Name :	AVIS PRESS PRIVATE LIMITED
Registered Office :	Unit No.35, Phase-1, Industrial Area, Cherla Pally Hyderabad – 500051, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.06.2004
Com. Reg. No.:	01-043515
Capital Investment / Paid-up Capital :	Rs.3.200 Millions
CIN No.: [Company Identification No.]	U22219AP2004PTC043515
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Exporter of Flexible Packaging Materials.
No. of Employees :	40 (Approximately)

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 24000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate tracks. There appears a continuous dip in the turnover also profitability of the company appears to low. 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 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. Venkatesh
Designation :	Business Manager
Contact No.:	91-9392299933
Date :	25.05.2012

LOCATIONS

Registered Office/ Factory :	Unit No.35, Phase-1, Industrial Area, Cherla Pally Hyderabad – 500051, Andhra Pradesh, India
Tel. No.:	91-40-27156817
Mobile No.:	91-9849299977 (Mr. S.Q. Shafiullab)
Fax No.:	91-40-27260688
E-Mail :	info@avispress.co.in raja.jonnavithula@yahoo.co.in
Website :	www.avispress.co.in
Location :	Owned

DIRECTORS

As on: 29.09.2011

Name :

Mr. Syed Quraishi Shafiullah

Designation :

Director

Address :

Flat No.103, KR Enclave, Vijayapuri, Tarnaka, Hyderabad - 500017, Andhra Pradesh, India

Date of Birth/Age :

16.02.1968

Date of Appointment :

22.06.2004

DIN No.:

00564542

Other Directorships :

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	U22219AP2004PTC043515	AVIS PRESS PRIVATE LIMITED	Director	22-06-04	22-06-04	-	Active	NO
2	U74900AP2008PTC061759	BLISS PACKAGING PRIVATE LIMITED	Director	07-11-08	07-11-08	-	Active	NO

Name :

Mr. Morumpalli Madhava Reddy

Designation :

Director

Address :

H.No. A 16/1, R and D Bhel Colony, Opposite Loyola College, Alwal Road, Secunderabad - 500078, Andhra Pradesh, India

Date of Birth/Age :

01.04.1967

Date of Appointment :

22.06.2004

DIN No.:

02165491

Name :

Mr. Asifa Samad

Designation :

Director

Address :

Flat No.103, KR Enclave, Vijayapuri, Tarnaka, Hyderabad - 500017, Andhra Pradesh, India

Date of Birth/Age :

09.05.1973

Date of Appointment :

09.01.2009

DIN No.:

02479431

Other Directorships :

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	U22219AP2004PTC043515	AVIS PRESS PRIVATE LIMITED	Director	09-01-09	09-01-09	-	Active	NO
2	U74900AP2008PTC061759	BLISS PACKAGING PRIVATE LIMITED	Director	30-01-09	30-01-09	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Venkatesh
Designation :	Business Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2011

Names of Shareholders	No. of Shares
S.Q. SHAFIULLAH	195556
M. Madhava Reddy	124444
Total	320000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture and Exporter of Flexible Packaging Materials.
Exports :
Products :	Flexible Packaging Materials
Countries :	Uganda
Terms :
Selling :	50% Advance and 50% Against Delivery
Purchasing :	Depends

PRODUCTION STATUS: (31.03.2011)

Particulars	Unit	Actual Production
Films	Kgs	82073
Pouches	No.	17512980

GENERAL INFORMATION

Customers :

Manufacturer

No. of Employees :

40 (Approximately)

Bankers :

· State Bank of India, SMECCC , 2nd Floor North Wing, Local Head Office Bank Street Koti, Hyderabad - 500095, Andhra Pradesh, India

· Axis Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
LC and Cash Credit From State Bank Of India	11.558	10.239
Term Loan From State Bank of India (Both Cash Credit and Term Loan are Secured against stocks and debtors and personal guarantees of Directors)	0.348	0.644
Car Loan - Axis Bank	0.810	0.096
Total	12.716	10.979
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Unsecured Loan	5.296	5.703
Total	5.296	5.703

Banking Relations :
Auditors :
Name :	Sankar and Raja Chartered Accountants
Address :	3-6-211, West Marredpally, Secundrabad – 500026, Andhra Pradesh, India
Tel. No.:	91-40-27805050
Fax No.:	91-40-27803249
E-Mail :	sankarraja@rediffmai.com
PAN.:	AAGFS4407H

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
350000	Equity Shares	Rs.10/- each	Rs.3.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
320000	Equity Shares	Rs.10/- each	Rs.3.200 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		3.200	3.2000	3.200
2] Share Application Money		0.022	0.010	0.010
3] Reserves & Surplus		2.926	2.887	2.703
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.148	6.097	5.913
LOAN FUNDS
1] Secured Loans		12.716	10.979	7.085
2] Unsecured Loans		5.296	5.703	2.519
TOTAL BORROWING		18.012	16.682	9.604
DEFERRED TAX LIABILITIES		0.378	0.295	0.338
TOTAL		24.538	23.074	15.855
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.825	6.629	7.553
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.780	12.160	9.632
	Sundry Debtors	20.790	22.942	20.796
	Cash & Bank Balances	4.903	0.145	0.306
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4.346	2.837	3.187
Total Current Assets		40.819	38.084	33.921
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.585	18.329	21.509
	Other Current Liabilities	2.788	3.275	3.815
	Provisions	0.733	0.036	0.295
Total Current Liabilities		23.106	21.640	25.619
Net Current Assets		17.713	16.445	8.302
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		24.538	23.074	15.855

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	66.849	77.450	88.118
		Jobworks Income	4.552	0.000	0.000
		Other Income	0.037	0.073	1.822
		TOTAL (A)	71.438	77.523	89.940
Less	EXPENSES
		Raw Material Consumed	53.175	53.688	61.566
		Manufacturing Expenses	8.388	10.219	6.946
		Administrative and Selling Expenses	4.079	13.155	16.575
		Increase/ Decrease in Stock	1.605	(2.747)	0.033
		TOTAL (B)	67.247	74.315	85.120
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.191	3.208	4.820
Less	FINANCIAL EXPENSES (D)		2.774	1.738	1.457
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.417	1.470	3.363
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.995	1.082	1.045
	PROFIT BEFORE TAX (E-F) (G)		0.422	0.388	2.318
Less	TAX (H)		0.384	0.204	0.868
	PROFIT AFTER TAX (G-H) (I)		0.038	0.184	1.450
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.887	2.703	1.253
	BALANCE CARRIED TO THE B/S		2.925	2.887	2.703
	Earnings Per Share (Rs.)		0.12	NA	NA

Particulars	31.03.2012
Sales Turnover (Approximately)	100.000

Expected Sales (2012-2013): Rs.150.000 Millions

The above information has been parted by Mr. Venkatesh

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.05	0.24	1.61
Net Profit Margin (PBT/Sales)	(%)	0.63	0.50	2.63
Return on Total Assets (PBT/Total Assets}	(%)	0.89	0.87	5.59
Return on Investment (ROI) (PBT/Networth)		0.07	0.06	0.39
Debt Equity Ratio (Total Liability/Networth)		6.69	6.29	5.96
Current Ratio (Current Asset/Current Liability)		1.77	1.76	1.32

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	--
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	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
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

Bankers Charges Report as per Registry

Corporate identity number of the company	U22219AP2004PTC043515
Name of the company	AVIS PRESS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Unit No.35, Phase-1, Industrial Area, Cherla Pally Hyderabad – 500051, Andhra Pradesh, India E-mail: raja.jonnavithula@yahoo.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90259106
Type of charge	Book debts
Particular of charge holder	State Bank of India, SMECCC , 2nd Floor North Wing, Local Head Office Bank Street Koti, Hyderabad - 500095, Andhra Pradesh, India E-mail: sbi.05015@sbi.co.in
Nature of instrument creating charge	1.Letter of arrangement 2.Supplemental agreement of loan cum hypothecation
Date of instrument Creating the charge	19.08.2009
Amount secured by the charge	Rs.13.700 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Working capital:-2% above SBAR (11.75%) with a min. of 13.75% p.a with monthly rests Terms of Repayment Working Capital :-Repayable on demand Margin Stocks 25% Receivables 40% Letter of credit 25% Extent and Operation of the charge Hypothecation of stocks, bills receivable, and all chargeable current assets
Date of instrument modifying the charge	27.03.2008
Particulars of the present modification	1. Cash credit limit increased to Rs.10.000 Millions from Rs.6.000 Millions 2 LC limit increased to Rs.2.500 Millions from Rs.1.500 Millions

FIXED ASSETS:

· Cylinders

· Plant and Machinery

· Electrical Equipments

· Office Equipment

· Furniture

· Vehicles

· Computer and Peripherals

· Computer Software

TRADE REFERENCE:

· Tata Industries

AS PER WEBSITE DETAILS:

PROFILE

Subject incorporated as a Private Limited Company in the year 2004 and started the commercial production activities in the year 2005 in its business of manufacture and supply of Flexible Packaging materials. Now it is one of the leading manufacturers of high quality Flexible Packaging materials in Andhra Pradesh.

They are committed to deliver high quality Flexible Packaging product. They have satisfied most of Seed Companies in delivering high quality pouches, especially, for bigger pack size of Maize 5kg, Paddy 3kg pouches wherein breakage free pouches have been supplying for many years. Today, they are well established and they are known for quality work and we have very wide spread of Clientele base across the country.

There dedicated workforce has made us one of the leading quality manufacturers of flexible packaging materials in Hyderabad.

They offer wide range of packing materials for Biscuit, Wafers, Chips, Namkeens, Chocolates, Candies, Snack foods, Vermicelli, Atta, Noodles, Tea, Coffee, Skimmed Milk Powder, Sugar, Spices, Oil and Ghee, Pickles, Ginger Garlic Paste, Salt, Paneer and Ice Creams, Frozen Sea Foods, Distemper, Detergent Powder, Soap wrapper, Seeds, Pesticides, Fertilizers and Liquor etc.,

They were first to introduce, re-usable pouch with rope handle for Maize 5kg and Paddy 3kg pack in the year 2005.

They manufacture and supply various kind of pouches like 3 Side Seal Pouch, 5 side Seal Pouch, Centre Seal Pouch, Centre Seal with side Gusset Pack, Stand-up Pouch, Stand-up with Zipper, Re-useable Pouch, etc.

They offer Laminated Rolls/Pouches for Nitrogen Flushing and Vacuum Pack for various Food packing like Namkeen, Chips, Paneer and Dry Fruits, etc.

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.55.73
UK Pound	1	Rs.87.26
Euro	1	Rs.69.89

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
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	2
--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	YES
--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.