MIRA INFORM REPORT

Report Date :

24.04.2013

IDENTIFICATION DETAILS

Name :	PRATIBHA PACKWELL PRIVATE LIMITED
Registered Office :	201, Classic Centre, 575, M.G. Road, Indore – 452001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.08.1997
Com. Reg. No.:	01-012212
Capital Investment / Paid-up Capital :	Rs.3.000 Millions
CIN No.: [Company Identification No.]	U25202MP1997PTC012212
TAN No.: [Tax Deduction & Collection Account No.]	BPLP02987F
PAN No.: [Permanent Account No.]	AABCP8294P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Manufacturer and Importer of Corrugated Boxes, Packaging Boxes and Cartons.
No. of Employees :	125 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 27000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Mr. Rajiv, Marketing Manager has provided general information but denied to disclose any financial detail. The company has achieved better growth in its total income and profit during 2012. Trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings at usual trade terms and conditions.

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

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 (GENERAL DETAILS)

Name :	Mr. Rajiv
Designation :	Marketing Manager
Contact No.:	91-8377825698
Date :	16.04.2013

LOCATIONS

Registered Office :	201, Classic Centre, 575, M.G. Road, Indore – 452001, Madhya Pradesh, India
Tel. No.:	91-731-2435009
Mobile No.:	91-8377825698 (Mr. Rajiv)
Fax No.:	Not Available
E-Mail :	companyzone@gmail.com info@pratibhapackwell.com
Location :	Owned
Factory :	Plot No.10-11-A, Industrial Area, A. B. Road, Nimrani, Khargone - 4516600, Madhya Pradesh, India
Tel. No.:	91-7285-265427
Fax No.:	91-7285-265428
Branch Office :	203-Kalpana Apartment, 7-8, South Tukoganj, Indore - 452001, Madhya Pradesh, India

DIRECTORS

As on 22.09.2012

Name :

Mr. Manish Ranka

Designation :

Director

Address :

504, Kalpana Apartment, 7/8, South Tukoganj, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

02.12.1977

Date of Appointment :

27.01.1999

DIN No.:

01037202

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	U25202MP1997PTC012212	PRATIBHA PACKWELL PRIVATE LIMITED	Director	27-01-99	27-01-99	-	Active	NO
2	U25202MP2006PTC018528	SHREE KRISHNA WELL PACK PRIVATE LIMITED	Director	01-04-06	01-04-06	-	Active	NO

Name :

Mr. Ekta Jain

Designation :

Director

Address :

7/8, Kalpana Apartment, South Tukoganj, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

01.01.1981

Date of Appointment :

20.04.2012

DIN No.:

02063652

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	U25202MP2006PTC018528	SHREE KRISHNA WELL PACK PRIVATE LIMITED	Director	31-03-06	31-03-06	-	Active	NO
2	U25202MP1997PTC012212	PRATIBHA PACKWELL PRIVATE LIMITED	Director	20-02-12	20-02-12	-	Active	NO

Name :

Mr. Jayant Bihare

Designation :

Director

Address :

95-B, Telephone Nagar, Indore – 452018, Madhya Pradesh, India

Date of Birth/Age :

07.01.1981

Date of Appointment :

20.11.2009

DIN No.:

02880419

KEY EXECUTIVES

Name :	Mr. Rajiv
Designation :	Marketing Manager
Name :	Geetika Agrawal and Company
Designation :	Company Secretaries
Address :	3, Anand Nagar, Behind Sapna Sangeeta Tower Chouraha, Indore – 452001, Madhya Pradesh, India

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2012

Names of Shareholders	No. of Shares
Surajmal Shrimal	100
Manish Ranka	76100
Abha Jain	59500
Lalchand Ranka	18300
Radhamadhav Well Pack Private Limited, India	20000
Manish Ranka (HUF)	2000
Partha-Sarath Logistics private Limited, India	44000
Ekta Jain	80000
Total	300000

As on 22.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	22.00
Directors or relatives of Directors	71.87
Other top fifty shareholders	6.12
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Manufacturer and Importer of Corrugated Boxes, Packaging Boxes and Cartons.
Products :	Boxes and Separator
Imports :
Products :	Corrugated Boxes, Packaging Boxes and Cartons
Countries :	· Australia · Europe · New Zealand
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30 Days)

GENERAL INFORMATION

Customers :

Wholesalers

No. of Employees :

125 (Approximately)

Bankers :

· State Bank of India, 73, Sitamata Bazar, Cloth Market, Indore - 452002, Madhya Pradesh, India

· Tel No.: 91-731-2454687 / 2454582

· State Bank of Indore, Cloth Market Branch, Indore - 452001, Madhya Pradesh, India

· State Bank of India, SMECCC, 3rd Floor, 5, Y.N. ROAD, Indore - 452001, Madhya Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Short Term Borrowing
Cash Credit	7.418	7.670
Total	7.418	7.670
Terms and Conditions for Cash Credit Loan; Cash Credit and Book Debts Limits are secured against Hypothecation of Stock, Book Debts and first charge on Building, Plant and Machinery and Personally guaranteed by one of the Shareholder. Interest is charged m the rate of 6.50% above the Base Rate.

Banking Relations :	--
Auditors :
Name :	M.K. Shah and Associates Chartered Accountants
Address :	564, M.G. Road, 207, City Plaza 2nd Floor, Indore – 452001, Madhya Pradesh, India
PAN.:	AGTPS5369K
Shareholder holding significant Number of Shares :	· Partha Sarthi Logistics Private Limited · Radhamadhav Well Pack Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

The company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each equity holder is entitled to only one vote per share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

Details of shareholder holding more than 5% shares as at 31st March 2012

Name of the Shareholder	As on 31.03.2012
	No. of Shares	%
Mr. Manish Ranka	76,000	25.33%
Mrs. Abha Jain	59,500	19.83%
Mr. Lalchand Ranka	18,300	6.10%
M/s. Radhamadhav well Pack Private Limited	20,000	6.67%
M/s. Panha Sarthi Logistics Private Limited	44,000	14.67%
Mrs. Ekta Jain	80,000	26.67%

Reconciliation of the number of share outstanding and amount of share capital as at 31st March 2012

Particular	As on 31.03.2012
	No. of Shares	Rs. In Millions
No. of Shares at the beginning of the year	220,000	2.200
Add: Shares issued during the year	80,000	0.800
Less: Shares Forfeited during the year	--	--
Shares at the end of the year	300,000	3.000

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		3.000	2.200	2.200
2] Share Application Money		0.000	0.000	0.400
3] Reserves & Surplus		3.836	1.705	0.920
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.836	3.905	3.520
LOAN FUNDS
1] Secured Loans		7.418	7.670	6.988
2] Unsecured Loans		4.574	4.060	3.309
TOTAL BORROWING		11.992	11.730	10.297
DEFERRED TAX LIABILITIES		0.364	0.367	0.434
TOTAL		19.192	16.002	14.251
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.777	3.554	3.860
Capital work-in-progress		0.983	0.000	0.250
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.735	6.955	10.498
	Sundry Debtors	16.579	10.093	1.192
	Cash & Bank Balances	3.063	1.122	1.464
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.873	1.053	0.370
Total Current Assets		26.250	19.223	13.524
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.881	5.979	3.374
	Other Current Liabilities	0.813	0.743	0.000
	Provisions	0.124	0.053	0.009
Total Current Liabilities		11.818	6.775	3.383
Net Current Assets		14.432	12.448	10.141
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		19.192	16.002	14.251

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	104.154	53.587	16.000
		Other Income
		TOTAL	104.154	53.587	16.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses	100.409	52.207	15.465
		Advertising Expenses
		TOTAL	100.409	52.207	15.465
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		3.745	1.380	0.535
Less/ Add	DEPRECIATION/ AMORTISATION		0.432	0.364	0.415
	PROFIT BEFORE TAX		3.313	1.016	0.120
Less	TAX		1.181	0.248	0.084
	PROFIT AFTER TAX		2.132	0.768	0.036
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.438	0.670	0.634
	BALANCE CARRIED TO THE B/S		3.570	1.438	0.670
	IMPORTS
		Raw Materials and Packing Materials	15.203	10.093	6.741
	TOTAL IMPORTS		15.203	10.093	6.741
	Earnings Per Share (Rs.)		9.72	3.57	0.16

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.05	1.43	0.23
Return on Total Assets (PBT/Total Assets}	(%)	11.03	4.46	0.69
Return on Investment (ROI) (PBT/Networth)		0.48	0.26	0.03
Debt Equity Ratio (Total Debt /Networth)		1.75	3.00	2.93
Current Ratio (Current Asset/Current Liability)		2.22	2.84	4.00

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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]	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

CONTINGENT LIABILITIES

Rs. In Millions

Particulars	31.03.2012	31.03.2011
Unexpired Letter of Credit	7.867	2.025

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
Loans from Directors	4.193	2.833
Loans from Shareholders and Others	0.381	1.227
Total	4.574	4.060

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25202MP1997PTC012212
Name of the company	PRATIBHA PACKWELL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	201, Classic Centre, 575, M.G. Road, Indore – 452001, Madhya Pradesh, India companyzone@gmail.com
This form is for	Creation of charge
Type of charge	· Immovable property · Movable property (not being pledge)
Particular of charge holder	State Bank of India, SMECCC, 3rd Floor, 5, Y.N. ROAD, Indore - 452001, Madhya Pradesh, India sbi.05033@sbi.co.in
Nature of instrument creating charge	01. Supplemental Agreement of Loan-cum-Hypothecation. 02. Letter of Arrangement. 03. Annexure C (Mortgage).
Date of instrument Creating the charge	04.01.2012
Amount secured by the charge	Rs. 1.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest @ 6.50% p.a. above base rate + 0.50% term premia i.e. a minimum of 17% p.a. with monthly rests or at such rate or rates as may be notified by bank from time to time. (Present base rate is 10% p.a.) Terms of Repayment TL [Rs.1.800 Millions] : In 43 Monthly Installments of Rs.0.056 Million commencing from last day of January 2012 and last installment falls due on July 2015 Margin Term Loan : 26.25% Extent and Operation of the charge Security created by way of first charge and to cover the principal amount together with interest, charges, costs and expenses.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of entire stock of RM, FG, packing materials, entire Current Assets, Book Debts and Plant and Machineries of the Company. Extension of charge over existing Equitable Mortgage of factory land (lease hold) and construction thereon situated at Plot No. 10 and part of Plot No. 11, Industrial Estate Nirwani, Village Khalbujurg, Tehsil Kasrawad, District, Khargone, admeasuring 50679 sq.ft.

FIXED ASSETS

· Building

· Plant and Machinery

· Furniture and Fittings

· Electrical Fittings Fixtures

· Office Equipments

· Motor Vehicle

· Diesel Generator

· Computer

· Water Pump

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 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.54.30
UK Pound	1	Rs.82.88
Euro	1	Rs.70.80

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.