MIRA INFORM REPORT

Report Date :

18.04.2013

IDENTIFICATION DETAILS

Name :	MORE MARKETING PRIVATE LIMITED
Registered Office :	3^rd Floor, Rustom Building, 29 Veer Nariman Road, Mumbai – 400023, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	20.08.1990
Com. Reg. No.:	11-057760
Capital Investment / Paid-up Capital :	Rs. 1.354 Millions
CIN No.: [Company Identification No.]	U51900MH1990PTC057760
Legal Form :	Private Limited Liability Company
Line of Business :	Buyer, Seller, Distributor, Wholesaler, Semi-Wholesaler, Retailer, Re-Seller, Exporter, Importer, Manufacturers Representative, Dealer, Jobber, Contractor and Agent in Bearing Products, Iron – Steel Casting, all types of Scrape, all types of Engineering Goods and also in Textile Cotton, Woollen, Synthetic Blends Both Natural and Man - Made.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 40000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears sharp dip in the sales and profitability during 2011-2012. The external borrowing appears to be huge. 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.

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 DENIED BY

Name :	Mr. Dharmendra
Designation :	Marketing Manager
Contact No.:	91-9320358467
Date :	16.04.2013

LOCATIONS

Registered Office :	3^rd Floor, Rustom Building, 29 Veer Nariman Road, Mumbai – 400023, Maharashtra, India
Tel. No.:	91-22-22842712
Mobile No.:	91-9320358467 (Mr. Dharmendra)
Fax No.:	91-22-22881295
E-Mail :	more@bom2.vsnl.net.in mca@mgca.in

DIRECTORS

As on: 29.09.2012

Name :	Mr. Ramesh Vishwambarlal Bajoria
Designation :	Director
Address :	74/3, Marine Drive, Seskaria House, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	08.12.1958
Date of Appointment :	04.09.2005
DIN No.:	00271533
Name :	Mr. Anilkumar Sanwalram More
Designation :	Whole-Time Director
Address :	92, Mistry Park 77, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	30.11.1956
Date of Appointment :	01.06.1993
DIN No.:	02445583
Name :	Mr. Sunilkumar Sanwalram More
Designation :	Whole-Time Director
Address :	92, Mistry Park 77, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	15.04.1958
Date of Appointment :	20.08.1990
DIN No.:	02689907
Name :	Mr. Sureshkumar Sitaram Sigtia
Designation :	Director
Address :	Vidya Bhavan, 4^th Floor, Room No. 2, Fanas Wadi, Mumbai – 400002, Maharashtra, India
Date of Birth/Age :	16.03.1956
Date of Appointment :	31.03.1993
DIN No.:	02690391
Name :	Mr. Mani Subaiya Iyer
Designation :	Additional Director
Address :	6, Suresh Sadan, K. A. S. Road Matunga, Mumbai – 400019, Maharashtra, India
Date of Birth/Age :	04.10.1944
Date of Appointment :	26.03.2013
DIN No.:	02468258

KEY EXECUTIVES

Name :	Mr. Dharmendra
Designation :	Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Sunil More	10310
Anil More	2545
Miss Kiran More	11000
Archana Yadav	25000
Gangadevi More	18575
Ajay Panchamatia	68000
Total	135430

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	31.00
Other top fifty shareholders	69.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Buyer, Seller, Distributor, Wholesaler, Semi-Wholesaler, Retailer, Re-Seller, Exporter, Importer, Manufacturers Representative, Dealer, Jobber, Contractor and Agent in Bearing Products, Iron – Steel Casting, all types of Scrape, all types of Engineering Goods and also in Textile Cotton, Woollen, Synthetic Blends Both Natural and Man - Made.

GENERAL INFORMATION

Suppliers :

· Amrut Textiles

· Desim International

· Jay Engineering Works

· J. J. Enterprises

· Vikas Enterprises

· Blue Dart Expenses Limited

· ICICI Credit Card

· Patel Stationery

· Sunrise Polymers

· Fortune Spectrum Industries Limited

· Uni-Alliance Limited

Customers :

· Mehta and Sons

· Essential Tradelinks

· Packman

· Super Impex

· Super Industries

· Window Cares

No. of Employees :

Not Available

Bankers :

· Central Bank of India

· HDFC Bank

· ICICI Bank

· State Bank of India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Cash Credit from Punjab and Sind Bank (Against Hypothecation of Stock)	0.185	0.138
Total	0.185	0.138

Banking Relations :	--
Auditors :
Name :	Maddi and Company Chartered Accountant
Address :	3/1014-L, Navjeevan Society, Lamingaton Road, Mumbai Central, Mumbai – 400023, Maharashtra, India
PAN.:	AFGPM1357C

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
135430	Equity Shares	Rs.10/- each	Rs. 1.354 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		1.354	1.354	1.354
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		8.828	7.973	6.176
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		10.182	9.327	7.530
LOAN FUNDS
1] Secured Loans		0.185	0.138	0.075
2] Unsecured Loans		31.783	13.193	11.715
TOTAL BORROWING		31.968	13.331	11.790
DEFERRED TAX LIABILITIES		0.020	0.045	0.038
TOTAL		42.170	22.703	19.358
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.477	0.506	0.346
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	1.254
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	19.238	6.084	4.429
	Sundry Debtors	12.341	10.602	12.499
	Cash & Bank Balances	0.843	0.275	0.136
	Other Current Assets	0.000	0.000	4.977
	Loans & Advances	23.356	20.507	27.741
Total Current Assets		55.778	37.468	49.782
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.718	12.953	29.463
	Other Current Liabilities	1.474	0.785	0.263
	Provisions	1.893	1.533	2.298
Total Current Liabilities		14.085	15.271	32.024
Net Current Assets		41.693	22.197	17.758
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		42.170	22.703	19.358

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	37.585	44.830	41.462
		Other Income
		TOTAL	37.585	44.830	41.462
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	36.288	42.073	39.061
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(Including Finance Expenses)	(Including Finance Expenses)	(Including Finance Expenses)
Less	FINANCIAL EXPENSES
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.297	2.757	2.401
Less/ Add	DEPRECIATION/ AMORTISATION		0.107	0.112	0.072
	PROFIT BEFORE TAX		1.190	2.645	2.329
	TAX		0.335	0.810	0.734
	PROFIT AFTER TAX		0.855	1.854	1.595
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000	4.581
	BALANCE CARRIED TO THE B/S		0.855	1.854	6.176
	Earnings Per Share (Rs.)		6.31	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.27	4.14	3.85
Return on Total Assets (PBT/Total Assets}	(%)	2.12	6.96	4.65
Return on Investment (ROI) (PBT/Networth)		0.12	0.28	0.31
Debt Equity Ratio (Total Debt /Networth)		3.14	1.43	1.56
Current Ratio (Current Asset/Current Liability)		3.96	2.45	1.55

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS

(Rs in Millions)

Particular	31.03.2012	31.03.2011	31.03.2010
Sundry Creditors	10.718	12.953	29.463
Total	10.718	12.953	29.463

PARTIAL DETAILS

SUNDRY CREDITORS

Particular	31.03.2012	31.03.2011	31.03.2010
Amrut Textiles	2.633	4.043	2.433
Fortune Spectrum Industries Limited	2.883	3.288	7.992
Uni-Alliance Limited	3.205	2.382	1.741
J. J. Enterprises	0.458	0.000	1.112
Jay Engineering Works	0.362	0.000	0.773
Audit Fees Payable	0.016	0.016	0.042
Blue Dart Expenses Limited	0.019	0.028	0.001
Electricity Expenses Payable	0.003	0.002	0.003
ICICI Credit Card	0.014	0.005	0.000
T.D.S Payable	0.199	0.127	0.036

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	No
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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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]	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	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs in Millions)

Particular	As on 31.03.2012	As on 31.03.2011
Amrut Sports Div of Amrut Tradecom Private Limited	1.020	0.000
Anil More	0.406	0.304
Chinmai	3.422	0.000
Marine Dredging Private Limited	13.692	12.663
Nirmitee Construction and Design Private Limited	4.000	0.000
Nishigardha Polymers Private Limited	0.230	0.000
Rameshkumar Bajoria	9.002	0.000
Trident Mercantile Private Limited	0.011	0.068
Sunil More	0.000	0.158
Total	31.783	13.193

FIXED ASSETS

· Hydraulic Stacker

· Furniture

· Computer

· Cellular Phone

· Modem

· Fax Machine

· Office Equipment

· Softwares

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. 54.94
UK Pound	1	Rs. 82.77
Euro	1	Rs. 71.05

INFORMATION DETAILS

Report Prepared by :

UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.