MIRA INFORM REPORT

Report Date :

08.04.2013

IDENTIFICATION DETAILS

Name :	PLAYGRO TOYS INDIA PRIVATE LIMITED
Registered Office :	2057/38, Gold Plaza Building, Gurudwara Road, Karol Bagh, New Delhi – 110005
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.07.2006
Com. Reg. No.:	55-151400
Capital Investment / Paid-up Capital :	Rs.1.600 Millions
CIN No.: [Company Identification No.]	U92412DL2006PTC151400
TAN No.: [Tax Deduction & Collection Account No.]	DELP13185E
PAN No.: [Permanent Account No.]	AADCP9624K
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Exporter and Importer of Plastics Toys.
No. of Employees :	15 (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 16900
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The 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.

INFORMATION PARTED BY

Name :	Mr. Manu Gupta
Designation :	Director
Contact No.:	91-9811140926
Date :	12.03.2013

LOCATIONS

Registered Office :	2057/38, Gold Plaza Building, Gurudwara Road, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-28752545/ 28752546/ 28752502/ 28751071
Mobile No.:	91-9811140926 [Mr. Manu Gupta]
Fax No.:	91-11-28751071/ 43851122
E-Mail :	monishuppal@yahoo.com playgrotoys@yahoo.com
Website :	www.playgroindia.com
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Manu Gupta

Designation :

Director

Address :

5/6, Jaidev Park, Rohtak Road, East Punjabi Bagh, New Delhi- 110026, India

Date of Birth/Age :

16.11.1976

Date of Appointment :

29.07.2006

DIN No.:

00318252

Other Directorships :

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	U80302DL2000PTC106202	GEE COINFOSYSTEM PRIVATE LIMITED	Director	09-06-00	09-06-00	Active	NO
2	U92412DL2006PTC151400	PLAYGRO TOYS INDIA PRIVATE LIMITED	Director	29-07-06	29-07-06	Active	NO
3	U01409DL2004PTC129584	KUSHAL BIOTECH PRIVATE LIMITED	Additional director	06-10-10	06-10-10	Active	NO

Name :

Mr. Abhay Chhabra

Designation :

Additional Director

Address :

D-12/12A, D-12 Block, Model Town II, New Delhi – 110009, India

Date of Birth/Age :

18.08.1992

Date of Appointment :

25.06.2012

DIN No.:

05113627

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Manu Gupta	80000
Abhay Chhabra	80000
TOTAL	160000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :	Trader, Exporter and Importer of Plastics Toys.
Products :	Play School Furniture Toy Kids Slides Easel Boards Children Slides Rockers Toy Kids Rockers Tri-Cycles Plastic Furniture Pre-school Toys Plastic School Furniture Basket Ball Set School Desk Sets Push Carts Children Villa School Items Kids Carts Pre School Aids School Kit Children Cars Children Toys See Saws Slide Combos Baby Items Trampolines Play Gyms Kindergarten Furniture Fun Stations Swing Sets Kindergarten Play Items Outdoor Play Ground Toys Children Beds Play Houses Storage Shelves Recreational Zones Children Chair Sets Chairs and Tables
Exports :
Products :	Plastics Toys
Countries :	· Middle East · Asia
Imports :
Products :	Raw Materials
Countries :	· China · Israel · Netherland · Australia
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

15 (Approximately)

Bankers :

• Union Bank of India, 26/2, Branch East Patel Nagar, New Delhi – 110008, Delhi, India
• ING Vysya Bank Limited, 55, Ground Floor, West Avenue Road, Punjabi Bagh, New Delhi – 110026, India
• ICICI Bank Limited

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Secured Loan	1.842	0.577
TOTAL	1.842	0.577
Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Unsecured Loan	1.842	0.577
TOTAL	1.842	0.577

Banking Relations :	--
Auditors :
Name :	Mittal Mehra Goyal and Associates Chartered Accountants
Address :	T-22, Green Park Extension, New Delhi – 110016, India
E-Mail :	mmgasso@yahoo.co.in
PAN No:	AAHFK8985D

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
160000	Equity Shares	Rs.10/- each	Rs.1.600 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.600	1.000	0.100
2] Share Application Money		0.000	0.000	5.360
3] Reserves & Surplus		2.648	1.265	0.600
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.248	2.265	6.060
LOAN FUNDS
1] Secured Loans		1.842	0.577	0.000
2] Unsecured Loans				0.000
TOTAL BORROWING		1.842	0.577	0.000
DEFERRED TAX LIABILITIES		0.144	0.202	0.046
TOTAL		6.234	3.044	6.106
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.419	5.345	2.129
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	5.654	5.550	2.465
	Sundry Debtors	38.909	16.878	11.737
	Cash & Bank Balances	1.118	0.853	0.836
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	22.153	20.040	5.615
Total Current Assets		67.834	43.321	20.653
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	58.960	16.627	12.698
	Other Current Liabilities	4.405	28.831	3.883
	Provisions	0.666	0.180	0.114
Total Current Liabilities		64.031	45.638	16.695
Net Current Assets		3.803	(2.317)	3.958
MISCELLANEOUS EXPENSES		0.012	0.016	0.019
TOTAL		6.234	3.044	6.106

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	207.285	117.829	61.426
Less	EXPENSES
		Office Expenses
		Administrative Expenses	205.294	116.827	60.937
		Advertising Expenses
		TOTAL	205.294	116.827	60.937
	PROFIT / (LOSS) BEFORE TAX		1.991	1.002	0.489
Less	TAX		0.608	0.337	0.152
	PROFIT / (LOSS) AFTER TAX		1.383	0.665	0.337
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.265	0.600	0.263
	BALANCE CARRIED TO THE B/S		2.648	1.265	0.600
	Earnings / (Loss) Per Share (Rs.)		8.64	6.65	--

Expected Sales (2012-13) : Rs.250.000 Millions.

The above information has been parted by Mr. Manu Gupta.

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.67	0.56	0.55
Return on Total Assets (PBT/Total Assets}	(%)	2.83	2.05	2.15
Return on Investment (ROI) (PBT/Networth)		0.47	0.44	0.08
Debt Equity Ratio (Total Debt/Networth)		0.43	0.25	2.75
Current Ratio (Current Asset/Current Liability)		1.05	0.95	1.24

LOCAL AGENCY FURTHER INFORMATION

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	No
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	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 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	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U92412DL2006PTC151400
Name of the company	PLAYGRO TOYS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2057/38, Gold Plaza Building, Gurudwara Road, Karol Bagh, New Delhi – 110005, India
Type of charge	Book Debts Floating Charge Others
Particular of charge holder	ING Vysya Bank Limited, 55, Ground Floor, West Avenue Road, Punjabi Bagh, New Delhi – 110026, India Email: roc.charge@gmail.com
Nature of description of the instrument creating or modifying the charge	Facility cum hypothecation agreement
Date of instrument Creating the charge	28.06.2012
Amount secured by the charge	Rs.35.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC: IVBR + 1.80% (Present Rate of IVBR is 10.45%) BC: Commission 1% p.a. Terms of Repayment CC : Payable on demand Margin CC : 25% on Stock & 25% on Book Debts (Not more than 90 days) BC: 25% Extent and Operation of the charge CC Limit - Rs. 35.000 Millions BC (Sublimit of CC - Rs. 35.000 Millions) Exclusive charge by way of Hypothecation of all stocks and Book Debts both present and future.
Short particulars of the property charged	Exclusive charge by way of hypothecation of all kinds of Plastic Materials used for manufacturing Playing Equipments which are already stored and to be stored from time to time in that shop premises bearing 2057/38, Gold Plaza Building, Main Gurudwara Road, Karol Bagh, New Delhi Exclusive charge by way of Hypothecation of all Book Debts both present and future.

FIXED ASSETS:

• Computer
• Machinery
• Office Equipments
• Mould and Jigs
• Vehicle

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	Rs70.90

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	TPT

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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.