MIRA INFORM REPORT

Report Date :

13.12.2013

IDENTIFICATION DETAILS

Name :	MATHURA POLYPACK PRIVATE LIMITED
Registered Office :	281, East and Apartment, Near New Ashok Nagar, New Delhi-110096
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	07.05.1992
Com. Reg. No.:	55-208127
Capital Investment / Paid-up Capital :	Rs.9.985 Millions
CIN No.: [Company Identification No.]	U51109DL1992PTC208127
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Flexible Packaging Materials.
No. of Employees :	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 76000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The management possess a modest networth marked by low reserves position during 2013. However, trade relations are fair. Business is active. Payment terms re reported as 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 DECLINED BY

Name :	Mr. Amit Agrawal
Designation :	Director
Contact No.:	91-9837088815
Date :	11.12.2013

LOCATIONS

Registered Office :	281, East and Apartment, Near New Ashok Nagar, New Delhi-110096, India
Tel. No.:	Not Available
Mobile No.:	91-9837088815 [Mr. Amit Agrawal]
Fax No.:	Not Available
E-Mail :	mathurapolypack@gmail.com

DIRECTORS

AS ON 22.09.2013

Name :

Mr. Pramod Kumar Tentiwal

Designation :

Director

Address :

70, Krishnapuri, Mathura, Uttar Pradesh, India

Date of Birth/Age :

13.12.1956

Date of Appointment :

05.09.2000

Din No.:

01558149

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	Company/ LLP Status	Defaulting status
1	U51109DL1992PTC208127	MATHURA POLYPACK PRIVATE LIMITED	Director	05/09/2000	05/09/2000	Active	NO
2	U25209UP2008PTC035960	VAISHNO PACKTECH PRIVATE LIMITED	Director	20/01/2009	20/01/2009	Active	NO

Name :

Mr. Amit Agrawal

Designation :

Director

Address :

70, Krishnapuri, Mathura, Uttar Pradesh, India

Date of Birth/Age :

01.10.1978

Date of Appointment :

18.05.2001

Din No.:

01558126

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	Company/ LLP Status	Defaulting status
1	U51109DL1992PTC208127	MATHURA POLYPACK PRIVATE LIMITED	Director	18/05/2001	18/05/2001	Active	NO
2	U25209UP2008PTC035960	VAISHNO PACKTECH PRIVATE LIMITED	Director	20/01/2009	20/01/2009	Active	NO

Name :

Mr. Pramesh Kumar Gupta

Designation :

Director

Address :

47, Manas Nagar, Mathura, Uttar Pradesh, India

Date of Birth/Age :

15.10.1962

Date of Appointment :

05.09.2000

Din No.:

00637214

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	Company/ LLP Status	Defaulting status
1	U31501UP1991PTC013607	VARSHNEY ELECTRICAL ELABORATION PRIVATE LIMITED	Director	15/10/1991	15/10/1991	Active	NO
2	U51109DL1992PTC208127	MATHURA POLYPACK PRIVATE LIMITED	Director	05/09/2000	05/09/2000	Active	NO
3	U15139UP2008PTC034680	SHRI PRIYAJI COLD STORAGE PRIVATE LIMITED	Director	19/02/2008	19/02/2008	Active	NO

Name :

Ms. Sunita Gupta

Designation :

Director

Address :

Tentigaon, Mathura-280206, Uttar Pradesh, India

Date of Birth/Age :

06.12.1966

Date of Appointment :

24.09.2010

Din No.:

01201668

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	U31501UP1991PTC013607	VARSHNEY ELECTRICAL ELABORATION PRIVATE LIMITED	Director	16/10/2000	16/10/2000	-	Active	NO
2	U25203UP2009PTC039106	SHRI PRIYAJI PLASTOPACK PRIVATE LIMITED	Director	30/12/2009	30/12/2009	29/04/2013	Active	NO
3	U51109DL1992PTC208127	MATHURA POLYPACK PRIVATE LIMITED	Additional director	24/09/2010	24/09/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 22.09.2013

Names of Shareholders	No. of Shares
Amit Agarwal	61250
Gayatri Devi	61500
Pramod Kumar Tentiwal	160750
M.P. Kalsheshtra	15000
Tanu Tentiwal	5500
Mithlesh Gargh	20000
Pramesh Kumar Gupta	312000
Sunita Gupta	105000
Manita Agrawal	60000
Ankita	30000
Pramod Kumar Tentiwal HUF	56500
Amit Agarwal HUF	23000
Pramesh Kumar Gupta HUF	48000
Pranshasha Gupta	10000
Pragati Gupta	20000
Bankey Bihari Gupta	10000
TOTAL	998500

AS ON 22.09.2013

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Flexible Packaging Materials.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

· Axis Bank Limited, Anupam Plaza II, Sanjay Place, Agra-282002, Uttar Pradesh, India

· State Bank of India, RASMECCC Cum SARC, First Floor, Main Branch, Chowki Bagh Bhadhur, Mathura-281001, Uttar Pradesh, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Axis Bank CC A/C Agra	6.065	5.653
Axis Bank CC A/C Mathura	18.471	9.019
Term Loan Agra	2.300	0.000
HDFC Car Loan 14715	0.266	0.295
HDFC Car Loan Ritiz 14850	0.171	0.087
HDFC Car Loan Ritiz 16250	0.125	0.349
Kotak Mahindra Prime Car Loan	0.897	0.404
Indiabulls Loan 47117	2.902	0.000
Indiabulls Loan 46580	2.907	0.000
Axis Bank Buyers Loan	0.000	4.895
TOTAL	34.104	20.702

Banking Relations :	--
Auditors :
Name :	Abhishek Garg and Associates Chartered Accountants
Address :	64/256, Chartered Chamber, Dampier Nagar, Mathura-281001, Uttar Pradesh, India
Mobile No.:	91-8449885555
PAN No:	AAKFA1301L

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
998500	Equity Shares	Rs.10/- each	Rs.9.985 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	9.985	9.985	9.985
(b) Reserves & Surplus	9.023	9.465	8.075
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	19.008	19.450	18.060
(3) Non-Current Liabilities
(a) long-term borrowings	34.104	20.702	9.487
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	19.105	33.230	30.370
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	53.209	53.932	39.857
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	7.432	1.185	0.000
(c) Other current liabilities	0.000	0.041	2.565
(d) Short-term provisions	0.015	0.013	0.000
Total Current Liabilities (4)	7.447	1.239	2.565
TOTAL	79.664	74.621	60.482
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	23.323	20.847	15.455
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	23.323	20.847	15.455
(2) Current assets
(a) Current investments	0.874	1.702	0.874
(b) Inventories	11.842	11.487	9.146
(c) Trade receivables	37.024	34.610	32.363
(d) Cash and cash equivalents	2.935	3.723	0.506
(e) Short-term loans and advances	3.645	2.231	2.117
(f) Other current assets	0.021	0.021	0.021
Total Current Assets	56.341	53.774	45.027
TOTAL	79.664	74.621	60.482

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	NA
		Other Income	NA
		TOTAL	NA	103.638	120.941
Less	EXPENSES
		TOTAL	NA	100.778	118.169
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.915	2.860	2.772
Less/ Add	DEPRECIATION/ AMORTISATION		1.420	1.003	1.099
	PROFIT / (LOSS) BEFORE TAX		0.495	1.857	1.673
Less	TAX		0.000	0.000	0.000
	PROFIT / (LOSS) AFTER TAX		0.495	1.857	1.673
	Earnings / (Loss) Per Share (Rs.)		0.50	1.86	1.67

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	1.79	1.38
Return on Total Assets (PBT/Total Assets}	(%)	0.62	2.49	2.77
Return on Investment (ROI) (PBT/Networth)		0.03	0.10	0.09
Debt Equity Ratio (Total Debt/Networth)		1.79	1.06	0.53
Current Ratio (Current Asset/Current Liability)		7.57	43.40	17.55

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	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]	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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10319299	24/01/2013 *	40,500,000.00	AXIS BANK LIMITED	ANUPAM PLAZA II, SANJAY PLACE, AGRA - 282002, UTTAR PRADESH, INDIA	B67693499
2	10304791	07/01/2013 *	40,500,000.00	AXIS BANK LIMITED	ANUPAM PLAZA II, SANJAY PLACE, AGRA - 282002, UTTAR PRADESH, INDIA	B67692772
3	90281324	11/02/2011 *	19,000,000.00	STATE BANK OF INDIA	RASMECCC CUM SARC, FIRST FLOOR, MAIN BRANCH, CHOW KI BAGH BHADHUR, MATHURA - 281001, UTTAR PRADESH, INDIA	B08120743
4	90277562	29/08/2003	2,000,000.00	STATE BANK OF INDIA MAIN BRANCH	MATHURA, MATHURA, UTTAR PRADESH, INDIA	-
5	90274502	31/03/1995	1,400,000.00	STATE BANK OF INDIA MAIN BRANCH	MATHURA, MATHURA, UTTAR PRADESH, INDIA	-
6	90281207	14/06/1993	550,000.00	STATE BANK OF INDIA MAIN BRANCH	MATHURA, MATHURA, UTTAR PRADESH, INDIA	-
7	90278562	13/11/1992	3,500,000.00	UTTAR PRADESH FINANCIAL CORPORATION	14/88 CIVIL LINES KANPUR, KANPUR, UTTAR Pradesh, INDIA	-
* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Furniture

· Miscellaneous Assets

· Plant and Machinery

· Computer

· Refrigerator

· Vehicles

· Generator

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.61.62
UK Pound	1	Rs.100.84
Euro	1	Rs.84.98

INFORMATION DETAILS

Information Gathered by :	HTL
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.