MIRA INFORM REPORT

Report Date :

06.11.2012

IDENTIFICATION DETAILS

Name :	SUNRISE FOAM PRODUCT PRIVATE LIMITED
Registered Office :	17, 1^st Floor, Bhera Enclave, Paschim Vihar, New Delhi – 110 063
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.03.2009
Com. Reg. No.:	55-188645
Capital Investment / Paid-up Capital :	Rs.3.005 millions
CIN No.: [Company Identification No.]	U36100DL2009PTC188645
TIN No.:	06461706708
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of PU Foam and Foam Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

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

Maximum Credit Limit :	USD 72000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	17, 1^st Floor, Bhera Enclave, Paschim Vihar, New Delhi – 110 063
Tel. No.:	Not Available
Mobile No.:	91-9350825572 (Mr. Sandeep – Key Executive)
Fax No.:	Not Available
E-Mail :	akm_mittal@yahoo.com
Corporate Office :	SCF-11, M.I.E., Bahadurgarh – 124 507, Haryana, India
Tel. No.:	91-1276-268368
Factory :	Village Bhaproda, Sampla Beri Road, Opposite Kultana Water Tank, Bahadurgarh, District Jhajjar, Haryana, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Sunil Din Dayal Gupta

Designation :

Director

Address :

B-93, Rajdhani Park, Nangloi, New Delhi – 110 041, India

Date of Birth/Age :

28.08.1973

Date of Appointment :

20.03.2009

DIN No.:

00276196

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	U74899DL1995PTC070382	BINDAL COIR PRIVATE LIMITED	Director	30/06/1995	30/06/1995	-	Active	NO
2	U36100DL2009PTC188645	SUNRISE FOAM PRODUCT PRIVATE LIMITED	Director	20/03/2009	20/03/2009	-	Active	NO
3	U25190DL2012PTC244268	ANGEL POLYMERS PRIVATE LIMITED	Director	31/10/2012	31/10/2012	-	Active	NO

Name :

Ms. Manju Gupta

Designation :

Additional Director

Address :

B-93, Rajdhani Park, Nangloi, New Delhi – 110 041, India

Date of Birth/Age :

17.04.1977

Date of Appointment :

18.10.2012

DIN No.:

02766617

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	U36900DL2009PTC190905	DAYAL POLYMERS PRIVATE LIMITED	Director	10/09/2009	10/09/2009	-	Active	NO
2	U36100DL2009PTC188645	SUNRISE FOAM PRODUCT PRIVATE LIMITED	Additional director	18/10/2012	18/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sandeep
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sunil Gupta	5000
Pooja Mittal	15000
Alps Solutions Private Limited, India	61000
Apurv Services Private Limited, India	80000
Geeta Rani	3000
GMT Teletech Private Limited, India	33000
Gulshan Dhingra	5000
Manju Gupta	8000
Mahabir Singh	2500
Mukesh Anand	2000
Neeraj Rathee	4000
Pawan Kumar	6000
Purnima Arora	2000
Ranjit Singh	2000
Akhil Mittal	12000
Sanjay Kumar	2000
Sanjeev Parashar	4000
Sher Singh Shivrain	40000
Sunita Rathee	2000
Surinder Arora	2000
WRG Housing Industries Private Limited, India	10000
Total	300500

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	61.23
Directors or relatives of directors	13.31
Other top fifty shareholders	25.46
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of PU Foam and Foam Products.
Products :	v Polyurethane Flexible Foam v Polyurethane Flexible Mattresses v Polyurethane Flexible Cushions v Foam Products

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

v Canara Bank, Saini Bhawan, Delhi-Rohtak Road, Bahadurgarh – 124 507, Haryana, India

v IndusInd Bank Limited

v HDFC Bank Limited

v Punjab National Bank

Facilities :

Secured Loans	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Canara Bank CC A/c	28.550	17.091
HDFC Bank - Vehicle Loan-329713	0.303	0.524
HDFC Bank - Vehicle Loan-16110315	0.359	0.000
Canara Bank- Car Loan - 1717	0.962	0.000
Canara Bank- Car Loan - 1716	0.962	0.000
IndusInd Bank Limited Vehicle Loan	0.449	0.000
Canara Bank-Commercial Vehicle Loan	0.647	0.000
Canara Bank Term Loan	12.983	15.717
Canara Bank Term Loan-II	1.817	0.000
Total	47.032	33.332

Unsecured Loans	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Loans From Members, Directors And Their Relatives	12.185	6.430
Total	12.185	6.430

Banking Relations :	--
Auditors :
Name :	Sandeep Kumar Jain and Company Chartered Accountants
Address :	Opposite Hanuman Mandir, Delhi-Rohtak Road, Bahadurgarh – 124 507, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AAZPA6620R

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs.10/- each	Rs.4.500 millions