MIRA INFORM REPORT

Report Date :

08.04.2013

IDENTIFICATION DETAILS

Name :	ESSEM TECNOPINZ PRIVATE LIMITED
Registered Office :	A – 22, Nice, MIDC, Satpur, Nashik - 422007, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	15.03.2000
Com. Reg. No.:	11-124957
Capital Investment / Paid-up Capital :	Rs.59.305 Millions
CIN No.: [Company Identification No.]	U36991MH2000PTC124957
TAN No.: [Tax Deduction & Collection Account No.]	NSKE00592E
PAN No.: [Permanent Account No.]	AAACE6832F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Ball Point Pen Tips and Refills.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 2500000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The financials of 2011 and 2012 are not made available. Mr. Kulkarni, Account Manager has provided us with all the information but the financials are not verified. However, trade relations are reported as fair. Business is active. Payments terms are unknown. 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.

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.

INFORMATION PARTED BY

Name :	Mr. Shripad Kulkarni
Designation :	Accounts Manager
Contact No.:	91-253-6693134
Date :	14.03.2013

LOCATIONS

Registered Office :	A – 22, Nice, MIDC, Satpur, Nashik-422007, Maharashtra, India
Tel. No.:	91-253-2350204 / 2362168 / 6693134
Fax No.:	91-253-2362168 / 6693140 / 2360196
E-Mail :	essemtecnopinz@essemindia.com amit@essemindia.com shripad.kulkarni@essemindia.com sales@essemindia.com
Website :	http://www.essemtechnopinz.com
Area :	4000 sq ft
Location :	Owned
Factory :	Plot No.: 26/1, MIDC, Satpur, Nashik - 422007, Maharashtra, India
Location:	Owned

DIRECTORS

As on 28.09.2012

Name :	Mr. Amitkumar Vinod Tibrewal
Designation :	Director
Address :	B-11, Priyanka Hills Apartment, Mahatma Nagar, Nasik – 422 007, Maharashtra, India
Date of Birth/Age :	18.11.1974
Qualification :	Finance Controller
Date of Appointment :	15.03.2000
Din No.:	00191673
Name :	Mr. Deepak Ramchand Vasandani
Designation :	Director
Address :	46, Palm Springs, Gangapur Road, Nashik – 422 005, Maharashtra, India
Date of Birth/Age :	07.01.1957
Qualification :	Enggineer
Date of Appointment :	15.03.2000
Din No.:	00192961
Voter ID No.:	TGY1344977
Name :	Mr. Punit Kumar Keshan Bishwanath
Designation :	Director
Address :	D/1/1, Bangur Avenue, Block D, Kolkata – 700 055, West Bangal, India
Date of Birth/Age :	18.03.1971
Qualification :	Graduate
Date of Appointment :	15.03.2000
Din No.:	00200826
Name :	Mr. Sandip Kumar Shyam Sundar Mahansaria
Designation :	Director
Address :	Paramount Apartment, No. 4A/B, 25, Ballygunge, Circular Road, Kolkata – 700 019, West Bengal, India
Date of Birth/Age :	16.09.1962
Qualification :	MBA
Date of Appointment :	15.03.2000
Din No.:	00206018
Name :	Mrs. Vinita Sandip Mahansaria
Designation :	Director
Address :	Paramount Apartment, No. 4A/B, 25, Ballygunge, Circular Road, Kolkata – 700 019, West Bengal, India
Date of Birth/Age :	23.08.1967
Date of Appointment :	15.03.2000
Din No.:	00288783

KEY EXECUTIVES

Name :	Mr. Shripad Kulkarni
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares
Sandip Kumar Shyam Sundar Mahansaria	262100
Amit Vinod Tibrewal	100
Deepak Ramchand Vasandani	100
Puneet Kumar Keshan	100
Vinita Sandip Mahansaria	100
Shyam Sundar Mahansaria	390000
Shyam Sundar Mahansaria (HUF)	252000
Ramrati Devi. Mahansaria	2034000
Mikron Tips Private Limited	1154470
Eskayam Writing Aids Private Limited, In Cash, India	505530
Eskayam Writing Aids Private Limited, In Kind, India	200000
Hi-Tech Exports Private Limited	1132000
Total	5930500

As on 28.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	50.45
Directors or relatives of Directors	49.55
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Ball Point Pen Tips and Refills.
Exports :
Products :	Ballpoint Pen Tips and Refills
Countries :	Bangkok Hong Kong USA Taiwan Bangladesh
Imports :
Products :	Raw Material
Countries :	China Japan Germany
Terms :
Selling :	L/C / Cash / Credit (30 Days and 60 Days)
Purchasing :	L/C / Cash / Credit (30 Days and 60 Days)

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
Ballpoint Pen Tips	Pcs	2024677000
Chips / Waste	Kgs	278115

Note:

The product of the company is Ballpoint Pen Tips onlym Chips are the wastage out of the process.

GENERAL INFORMATION

Suppliers :

• A.K. Services
• Akash Industries
• Ashok Zawar and Company
• Avanti Protective Services Private Limited
• Blaser Swisslibe India Private Limited
• DHL Danzas Lemur Private Limited
• Mahalakshmi Commercial Company
• Passage Cargo Private Limited
• Prachi Writing Instruments Private Limited
• ARAI Kinzoku Company Limited
• Heraeus Materials Tech Shanghai Limited
• Swissmetal Boilet

Customers :

Wholesalers, Retailers and End Users

• Anand International
• Baba Tracon Private Limited
• Monga Plastics
• N V Tek Industries
• SSB Metal Work
• Writing System
• Tech Ink Industries
• M H Products
• Saber Pens Private Limited
• Leone Penna Company Limited

No. of Employees :

250 (Approximately)

Bankers :

• The Thane Janta Sahakari Bank Limited, 2. Suyojit Sankul, Sharanpur Road, Nashik – 422 002, Maharashtra, India

Tel. No.: 91-253-2575856

Fax. No.: 91-253-2575865

Email: tjsb.106@tjsb.co.in

• State Bank of India
• Axis bank Limited
• Bank of India
• Bank of Baroda
• Citi Bank
• Vijaya Bank
• Indian Overseas Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2010	As on 31.03.2009
Bank Cash Credit
The Thane Janta Sahakari Bank Limited – Nashik	162.650	132.067
The Thane Janta Sahakari Bank Limited – Nashik (WCTL)	19.986	13.318
Indian Overseas Bank (Fort) CC	44.772	46.723
Indian Overseas Bank (Nashik) CC	13.184	13.195
Indian Overseas Bank (Surat) CC	0.000	9.397
Term Loan
SICOM Limited	87.027	80.746
Indian Overseas Bank Limited	12.304	31.314
UTI Bank, Nashik	0.000	0.000
Car Loan (HDFC Bank)	0.000	0.227
Car Loan (ICICI Bank)	0.170	0.385
Car loan (Axis Bank, Nashik)	0.780	0.000
Car Loan (HDFC Bank – Kolkata)	1.318	0.000
Total	342.191	327.372

Banking Relations :	--
Auditors :
Name :	Ashok S. Zawar and Company Chartered Accountants
Address :	155, Sarda Sankul, Vakilwadi, Nashik – 422 001, Maharashtra, India
PAN.:	AAEFA0519N
Associates Company :	Micron Tips Private Limited Hi-Tech Export Private Limited Nippon Plastics Private Limited Essem Refills Private Limited S.S. Ball Point Private Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
	Shares allotted in Kind
505530	Equity Shares	Rs.10/- each	Rs.5.055 Millions
	Shares allotted in cash
5424970	Equity Shares	Rs.10/- each	Rs.54.250 Millions
	Total		Rs.59.305 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		59.305	59.305	59.305
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		570.953	536.803	515.275
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		630.258	596.108	574.580
LOAN FUNDS
1] Secured Loans		342.191	327.372	316.939
2] Unsecured Loans		9.337	35.091	41.031
TOTAL BORROWING		351.528	362.463	357.970
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		981.786	958.571	932.550
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		628.115	641.446	686.618
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		81.758	52.889	33.051
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	147.155	72.681	83.895
	Sundry Debtors	156.186	173.873	128.524
	Cash & Bank Balances	14.496	11.403	16.097
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	42.097	64.963	17.531
Total Current Assets		359.934	322.920	246.047
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	67.017	42.227	22.371
	Other Current Liabilities	9.204	8.457	7.795
	Provisions	11.800	8.000	3.000
Total Current Liabilities		88.021	58.684	33.166
Net Current Assets		271.913	264.236	212.881
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		981.786	958.571	932.550

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	595.904	509.278	528.111
		Other Income	2.627	1.302	3.043
		TOTAL (A)	598.531	510.580	531.154
Less	EXPENSES
		Office Expenses
		Administrative Expenses	463.873	385.657	403.607
		Advertising Expenses
		TOTAL (B)	463.873	385.657	403.607
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		136.658	124.923	127.547
Less	FINANCIAL EXPENSES (D)		41.561	47.711	49.146
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		93.097	77.212	78.401
Less/ Add	DEPRECIATION/ AMORTISATION (F)		37.208	40.871	50.187
	PROFIT BEFORE TAX (E-F) (G)		55.889	36.341	28.214
Less	TAX (H)		21.739	14.812	11.746
	PROFIT AFTER TAX (G-H) (I)		34.150	21.529	16.468
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		128.929	107.401	90.933
	BALANCE CARRIED TO THE B/S		163.079	128.930	107.401
	EARNINGS IN FOREIGN CURRENCY		308.769	217.104	183.244
	IMPORTS
		Raw Materials	343.283	184.900	145.531
		Stores & Spares	21.353	9.810	16.428
		Capital Goods	4.694	1.536	9.754
	TOTAL IMPORTS		369.330	196.246	171.713
	Earnings Per Share (Rs.)		5.76	3.63	NA

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	700.000	650.000

Expected Sales (2012-13) : Rs.800.000 Millions

The above information has been parted by Mr. Shripad Kulkarni

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.71	4.22	3.10
Net Profit Margin (PBT/Sales)	(%)	9.38	7.14	5.34
Return on Total Assets (PBT/Total Assets}	(%)	0.60	3.77	3.06
Return on Investment (ROI) (PBT/Networth)		0.09	0.06	0.05
Debt Equity Ratio (Total Debt /Networth)		0.56	0.61	0.62
Current Ratio (Current Asset/Current Liability)		4.09	5.50	7.42

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

(Rs. in Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
SUNDRY CREDITORS
Sundry Creditors For Expenses	4.745	6.258	3.888
Sundry Creditors For Raw Material	45.305	24.501	10.851
Sundry Creditors For Stores and Others	16.773	11.457	6.892
Sundry Creditors For Capital Expenses	0.194	0.011	0.740
Total	67.017	42.227	22.371

Sr. No.	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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

OPERATION

The company has diversified in making various types of ballpoint tips with tremendous response from the customers. As the product of the company has received good response in the market, the Directors expect good results in the coming year.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2010	As on 31.03.2009
From Directors and Relative of directors	9.337	35.091
Total	9.337	35.091

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U36991MH2000PTC124957
Name of the company	ESSEM TECNOPINZ PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A – 22, Nice, MIDC, Satpur, Nashik-422007, Maharashtra, India essemtecnopinz@essemindia.com
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	The Thane Janta Sahakari Bank Limited, Suyojit Sankul, Sharanpur Road, Nashik – 422 002, Maharashtra, India Email: tjsb@bom5.vsnl.net.in
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	24.01.2013
Amount secured by the charge	Rs. 30.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest @12.50% p. a. AT Monthly Rest, i. e. 2.50% Below PLR Terms of repayment Repayment BY 60 EMI of Rs.0.675 Million Extent and operation of the charge Working Capital Term Loan Financed as per Bank Terms and Conditions from time to time.
Short particulars of the property charged (Including location of the property)	Hypothecation of stock of raw materials, inventories, stock in process, semi finished and finished goods, stores and spares, stock in trade, goods in process hypothecation of book debts, outstanding monies, claims, bills, receivables mortgage of existing land and building of Unit 1 Situated At 26/1, MIDC Area, Satpur, Nashik

FIXED ASSETS:

· Building

· Non Factory Building

· Guest House

· Computer

· Electrical Installation

· Electrical Fitting

· Land

· Plant and Machinery

· Revaluation of Plant and Machinery

· Office Equipments

· Vehicles

· Furniture and Fixture

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 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 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.54.88
UK Pound	1	Rs.83.54
Euro	1	Rs.70.90

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NTH

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	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.