MIRA INFORM REPORT

Report Date :

05.01.2013

IDENTIFICATION DETAILS

Name :	SUPERMAX PERSONAL CARE PRIVATE LIMITED
Registered Office :	4^th Floor Malhotra House, Opposite GPO, Fort, Mumbai-400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.09.2010
Com. Reg. No.:	11-207411
Capital Investment / Paid-up Capital :	Rs.0.476 Million
CIN No.: [Company Identification No.]	U27310MH2010PTC207411
TAN No.: [Tax Deduction & Collection Account No.]	PNES29813A
PAN No.: [Permanent Account No.]	AAOCS7144Q
Legal Form :	Private Limited Liability Company
Line of Business :	The company is primarily engaged in the business of manufacturing and selling of shaving products and systems.
No. of Employees :	Information denied by the management.

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 5800000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is a relatively new company having a moderate track record. It has incurred loss from its operation in its first year. However, trade relations are reported as fair. Business is active. Payments terms are 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.

INFORMATION DECLINED BY

Name :	Mr. Mukesh
Designation :	Accounts Department
Contact No.:	91-22-40451000 / 39291092 / 39291068
Date :	04.01.2013

LOCATIONS

Registered Office :	4^th Floor Malhotra House, Opposite GPO, Fort, Mumbai-400001, Maharashtra, India
Tel. No.:	91-22-22697584 / 85 / 39291092 / 39291068
Fax No.:	91-22-22695292
E-Mail :	suryakant.khare@supermaxworld.com
Location :	Owned
Corporate Office :	6^th Floor, Hamilton A, Hiranandani Estate, Ghodbunder Road, Thane (West), Thane-400607, Maharashtra, India
Tel. No.:	91-22-39291000
Fax No.:	91-22-39167197
Factory :	Wagle Estate, P.O. L.B.S Marg, Thane-400604 (West), Maharashtra, India
Tel No.:	91-22-40451000
Fax No.:	91-22-25823415
Hyderabad Office :	Plot No.2 and 2B, Phase-IV, IDA Jeedimetla, Hyderabad-500055, Andhra Pradesh, India
Tel. No.:	91-40-23095241 / 27
Fax No.:	91-40-23095302

DIRECTORS

AS ON 24.12.2011

Name :	Mr. Amit Bhansali
Designation :	Additional Director
Address :	1/4/1, Watkins Lane, Howrah-711101, West Bengal, India
Date of Birth/Age :	28.12.1979
Date of Appointment :	11.04.2011
DIN No.:	02625472
Name :	Mr. Kunal Uddhavdas Agarawal
Designation :	Additional Director
Address :	18, Moti Building, 4^th Floor, Iind Fanaswadi, Room No.63/64, Chira Bazar, Mumbai-400002, Maharashtra, India
Date of Birth/Age :	15.08.1982
Date of Appointment :	29.09.2011
DIN No.:	03639047
Name :	Mr. Sidhartha Suri
Designation :	Additional Director
Address :	Flat No. E-300, Reserve Bank Staff Quarters, Maratha Mandir Marg, Byculla, Mumbai-400008, Maharashtra, India
Date of Birth/Age :	13.11.1972
Date of Appointment :	24.03.2011
DIN No.:	03344278

KEY EXECUTIVES

Name :	Mr. Vijay
Designation :	H R Head
Name :	Mr. Mukesh
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 24.12.2011

Names of Shareholders	No. of Shares
Supermax Singapore Ptd. Limited, Singapore	47599
Supermax Luxembourg S.A.R.L, Luxembourg	1
Total	47600

AS ON 24.12.2011

Equity Shares Break Up	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00

BUSINESS DETAILS

Line of Business :

The company is primarily engaged in the business of manufacturing and selling of shaving products and systems.

PRODUCTION STATUS (AS ON 31.03.2011)

Installed Capacity	--	361
Particulars	Unit	Actual Production
Safety Major Blades	Pkts.	2000
Twin type shaving	Pkts.	169
Semi finished (twin type shaving)	Pkts.	19

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

· Punjab National Bank, Thakur Mansion, Thakur Mansion Road, Somajiguda, Hyderabad-500082, Andhra Pradesh, India

· Andhra Bank

· Oriental Bank of Commerce

Facilities :

Secured Loan	Rs. In Millions 31.03.2011
From Banks
a. Short term Working Capital Loan
Cash Credit	201.288
Foreign Usance Bills Discounded	1184.808
b. Rupee Term Loan	37.737
c. Vehicle Loan	1.018
From Financial Intuitions
A. Vehicle Loan	2.515
Total	1427.366
Notes: a) Working capital loans from Punjab National Bank, Andhra Bank and Oriental Bank of Commerce is secured as follows: 1. First Pari Passu Charge by way of hypothecation and / or pledge of the Borrower’s current assets namely of raw material, semi finished goods, consumable stores and spares and bills receivables / book debts and all other movable of the borrower, both present and future but excluding such movable as may be permitted by the said. 2. First pari passu charge by way of hypothecation of the borrower’s specific movable plant and machinery. 3. First pari passu charge by way of Mortgage by deposit of title deeds of the following immovable property: - Staff quarters situated at Naupada, Thana owned by Vidyut Metalics Private Limited - Land and Building “Laxmi Vilas” situated at Hyderabad owed by Unique Properties and Securities Private Limited. - Land and Building at Jeedimetla, Hyderabad owned by the company 4. Additional security by way of mortgage of leasehold rights of SPCPL over land and building at plant 1 at Thane. 5. Post Shipment credit is also secured by way of submission of Foreign Documentary Demand / Usance bill drawn under irrevocable letter of credit / confirmed orders. b) Term loan is secured by equitable mortgage of building and hypothecation of plan and machinery. c) Vehicle Loans Vehicle loans are secured by hypothecation of respective vehicles. Loans due within one year Rs. 2.802 millions
Unsecured Loan	Rs. In Millions 31.03.2011
Short Term Loans
Other Loans	36.500
Inter corporate loans / deposits
Other Deposits from Companies	0.165
Total	36.665

Banking Relations :	--
Auditors :
Name :	B S R and Company Chartered Accountants
Address :	Building No.10, 8^th Floor, Tower –B, DLF Cyber City, Phase-II, Gurgaon-122002, Haryana, India
Tel. No.:	91-22-39896000
Fax No.:	91-22-39836000
Pan No.:	AAIFB4734C
Holding Company :	Supermax Singapore Pte Limited
Fellow Subsidiaries :	· Wesley International Limited · Tigaksha Metallics Private Limited

CAPITAL STRUCTURE

AS ON 30.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
47600	Equity Shares	Rs.10/- each	Rs. 0.476 Million

NOTE: Of the above 47599 shares of Rs. 10 each are held by Supermax Singapore Pte Limited the holding company.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.476
2] Share Application Money		0.000
3] Reserves & Surplus		1484.824
4] (Accumulated Losses)		(27.959)
NETWORTH		1457.341
LOAN FUNDS
1] Secured Loans		1427.366
2] Unsecured Loans		36.665
TOTAL BORROWING		1464.031
DEFERRED TAX LIABILITIES		675.000
TOTAL		3596.372
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2636.362
Capital work-in-progress		288.166
INVESTMENT		0.000
DEFERREX TAX ASSETS		13.748
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	751.260
	Sundry Debtors	2574.975
	Cash & Bank Balances	905.566
	Other Current Assets	0.000
	Loans & Advances	651.267
Total Current Assets		4883.068
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1963.788
	Other Current Liabilities	2076.278
	Provisions	184.906
Total Current Liabilities		4224.972
Net Current Assets		658.096
MISCELLANEOUS EXPENSES		0.000
TOTAL		3596.372

PROFIT & LOSS ACCOUNT

	PARTICULARS		03.09.2011 to 31.03.2011
	SALES
		Income	104.516
		Other Income
		TOTAL (A)	104.516
Less	EXPENSES
		Office Expenses	166.236
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	166.236
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(61.720)
Less	FINANCIAL EXPENSES (D)		(11.113)
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(50.607)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		(8.900)
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(41.707)
Less	TAX (H)		(13.748)
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(27.959)
	BALANCE CARRIED TO THE B/S		(27.959)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2.022
	TOTAL EARNINGS		2.022
	IMPORTS
		Raw Materials	10.051
	TOTAL IMPORTS		10.051
	Earnings / (Loss) Per Share (Rs.)		(2.699)

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	(26.75)
Return on Total Assets (PBT/Total Assets}	(%)	(0.55)
Return on Investment (ROI) (PBT/Networth)		(0.03)
Debt Equity Ratio (Total Liability/Networth)		4.37
Current Ratio (Current Asset/Current Liability)		1.15

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2011 (Rs. in millions)
Due to micro and small enterprises	9.638
Others	1954.150
Total	1963.788

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 one year	Yes
12]	Profitability for one year	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	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	No
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

BACKGROUND

Subject was incorporated on 3^rd September 2010 as a private limited company. The company is primarily engaged in the business of manufacturing and selling of shaving products and systems.

OPERATIONS:

The Company acquired business of manufacturing shaving systems, safety razor blades, safety razors from Vidyut Metallics Private Limited with effect from 19^th March 2011.

During the period, the company registered a Sales Turnover (including exports) of Rs. 115.167 Millions, Domestic sales amounted to Rs. 111.414 Millions, whereas Export sales were Rs. 3.753 Millions, during the period. It may be noted that the figures given above are not comparable with earlier period since this is the first year of operation of the Company.

FORM 8

This form is for	Modification of charge
Charge identification number of the modified	10289018
Corporate identity number of the company	U27310MH2010PTC207411
Name of the company	SUPERMAX PERSONAL CARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	4^th Floor Malhotra House, Opposite GOP, Fort, Mumbai-400001, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge Immovable Property
Particular of charge holder	Punjab National Bank, Thakur Mansion, Thakur Mansion Road, Somajiguda, Hyderabad-500082, Andhra Pradesh, India
Email	mayursheth@pnb.co.in
Nature of description of the instrument creating or modifying the charge	Memorandum of deposit of leasehold right
Date of instrument Creating the charge	28.05.2011
Amount secured by the charge	Rs.2409.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Same as the original charge Terms of Repayment Same as the original charge Margin Same as the original charge Extent and Operation of the charge Same as the original charge Others The said amount of Rs. 2409.000 Millions extended under consortium arrangement as under Punjab National Bank- Rs.1205.000 Millions Oriental Bank of Commerce- Rs.925.000 Millions Andhra Bank- Rs.279.000 Millions
Short particulars of the property charged	All the piece and parcel of land admeasuring 15566 acres, plot No 2 and 2B, S no. 79, Phase IV, IDA, Jeedimetla, Ranga Reddy, Andhra Pradesh All piece and parcel of land admeasuring 3 acres, equivalent to 14,520 sq.yds. bearing Survey No. 79, Village Gajularamaram, Qutthbullapur Municipality, Ranga Reddy, Andhra Pradesh Land situated at Naupada, Thane, Maharashtra, under S No. 29, Hissa No. 1/1 m CST No 39, about S no. 29 m Gusssa Bi, 1/3 (part) CST No. 45 belonging to "Vidyut Metallics P Ltd" House no 6-3-1186, Begumpet, Hyderabad, Near ITC Grand Kakatiya Hotel, Next to Somajiguda Flyover belonging to "Unique Properties and Securities Private Limited" and "Emerald Investments Private Limited " All the current assets of the borrower, present and future including entire stocks, SIP, RIM, FG, book debts, loans ad advances etc., other materials Deposits of confirmed orders and/or original irrevocable LCs of approved foreign banks, DA/DP bills drawn on approved banks, as may be permitted by the bank from time to time. Deposit of lease hold rights of all piece and parcel of land bearing Survey No. 90, Hissa No. 1, admeasuring 16983 sq. yds. Survey No.95, Hissa No.4. Admeasuring 242 sq. yds. Survey No.95, Hissa No. 8, admeasuring 1391 sq. yds. together with the factory shed admeasuring 4720 sq. ft situated at Village Naupada, Thane District, Mumbai
Particulars of the present modification	Deposit of lease hold rights of all piece and parcel of land bearing Survey No. 90, Hissa No. 1, admeasuring 16983 sq. yds. Survey No.95, Hissa No.4. Admeasuring 242 sq. yds. Survey No.95, Hissa No. 8, admeasuring 1391 sq. yds. together with the factory shed admeasuring 4720 sq. ft situated at Village Naupada, Thane District, Mumbai

FIXED ASSETS

· Goodwill

· Freehold Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Motor Vehicles

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.54.85
UK Pound	1	Rs.88.16
Euro	1	Rs.71.54

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	5
--CREDIT LINES	1~10	2
--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
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.