MIRA INFORM REPORT

Report Date :

03.07.2013

IDENTIFICATION DETAILS

Name :	SEYMORE PRINT PRIVATE LIMITED
Registered Office :	Sey More House, 102, Surana International, Ring Road, Surat - 395002, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.03.2004
Com. Reg. No.:	04-043868
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U17111GJ2004PTC043868
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter, Supplier and Trader of Ladies Fashion Apparels.
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 90000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal business dealings at usual trade terms and condition.

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

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. Manish
Designation :	Operational Managing Director
Contact No.:	91-9374512727
Date :	28.06.2013

LOCATIONS

Registered Office/ Factory :	Sey More House, 102, Surana International, Ring Road, Surat - 395002, Gujarat, India
Tel. No.:	91-261-2325485
Mobile No.:	91-9374512727 [Mr. Manish]
Fax No.:	91-261-2333317
E-Mail :	seymoreprints@yahoo.co.in info@seymoreprint.com
Website :	www.seymoreprint.com
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :

Mrs. Sumitradevi Anilkumar Yadav

Designation :

Director

Address :

17 and 20, Sai Sadan, Surya Prabha Society, Near Sahara Darwaja, Ring Road, Surat, Gujarat, India

Date of Birth/Age :

06.02.1971

Date of Appointment :

26.03.2004

DIN No.:

00109838

Name :

Mrs. Shobhadevi Ashokkumar Yadav

Designation :

Director

Address :

17, Sai Sadan, Surya Prabha Society, Somnath Mandir Road, Umara, Surat, Gujarat, India

Date of Birth/Age :

20.04.1978

Date of Appointment :

26.03.2004

DIN No.:

00109875

Name :

Mr. Ashok Hariprasad Yadav

Designation :

Director

Address :

17 and 20, Sai Sadan, Surya Prabha Society, Somnath Mandir Road, Umara, Surat, Gujarat, India

Date of Birth/Age :

10.12.1975

Date of Appointment :

26.03.2004

DIN No.:

01835360

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	U17110GJ1996PTC031389	SAIJYOTI DYEING AND PRINTING MILLS PRIVATE LIMITED	Director	20/02/2001	20/02/2001	Active	NO
2	U51909GJ2002PTC040577	SAILEELA IMPEX PRIVATE LIMITED	Director	27/03/2002	27/03/2002	Active	NO
3	U17111GJ2004PTC043868	SEYMORE PRINT PRIVATE LIMITED	Director	26/03/2004	26/03/2004	Active	NO
4	U17120GJ2010PTC061966	SAI JYOTI INDUSTRIES PRIVATE LIMITED	Director	12/08/2010	12/08/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Manish
Designation :	Operational Managing Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Ashok Hariprasad Yadav	33984
Sumitradevi Anilkumar Yadav	23000
Shobhadevi Ashokkumar Yadav	23000
Anilkumar Jain	1
Ganpatrai Jain	1
Hitesh Anilkumar Jain	1
Nemichand Navratanmal	1
Purshotambhai Ganpatrai Jain	1
Rukshmadevi N. Parekh	1
Anilkumar HUF	1
Lalitadevi Dinanath Yadav	1
Hariprasad Yadav (HUF) [Sai Jyoti Silk Mills]	1
Sai Jyoti Dying and Printing Private Limited, India	1
Sai Jyoti Fashion Private Limited, India	1
Sai Irea Impex Private Limited, India	1
Madhuri Sharma	1
Falguni Shailesh Bhatt	1
Rajesh Neeranjan Yadav	1
Shilpa Jignesh Wadia	1
Suman A. Yadav	20000
Total	100000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	99.90
Other top fifty shareholders	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Supplier and Trader of Ladies Fashion Apparels.
Products/ Services :	Georgette Saree Embroidered Saree Designer Saree Designer Printed Sarees Embroidered Sarees Fancy Sarees Fashionable Embroidered Sarees Festival Sarees Foil Georgette Printed Saree Indian Sarees Modern Sarees Monsoon Sarees Collection Printed Sarees Printed Sarees with Piping Border Silk Sarees
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

45 (Approximately)

Bankers :

HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra, India

Bank of Baroda, Textile Market Branch, Ring Road, Surat – 395002, Gujarat, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG TERM BORROWINGS
Term Loans from Banks	1.317	2.679
SHORT TERM BORROWINGS
Working capital facility from bank	28.684	36.522
Total	30.001	39.201

Banking Relations :	--
Auditors :
Name :	J. K. Pandya and Company Chartered Accountants
Address :	215, City Centre, Sosyo Circle, U. M. Road, Surat – 395002, Gujarat, India
Tel. No.:	91-261-2630311
Mobile No.:	91-9825116851
E-Mail :	jkpandya0405@yahoo.co.in
Income-tax PAN of auditor or auditor's firm :	ABNPP1149D

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.000	1.000
(b) Reserves & Surplus	21.614	19.282
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	22.614	20.282
(3) Non-Current Liabilities
(a) long-term borrowings	11.056	14.092
(b) Deferred tax liabilities (Net)	0.354	0.284
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	11.410	14.376
(4) Current Liabilities
(a) Short term borrowings	28.684	36.522
(b) Trade payables	28.017	8.327
(c) Other current liabilities	1.605	1.353
(d) Short-term provisions	0.978	1.252
Total Current Liabilities (4)	59.284	47.454
TOTAL	93.308	82.112
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.045	7.698
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.074	0.027
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.036	0.002
(e) Other Non-current assets	0.061	0.000
Total Non-Current Assets	7.216	7.727
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	25.591	16.397
(c) Trade receivables	57.843	47.884
(d) Cash and cash equivalents	0.825	7.379
(e) Short-term loans and advances	1.833	2.725
(f) Other current assets	0.000	0.000
Total Current Assets	86.092	74.385
TOTAL	93.308	82.112

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.000
2] Share Application Money		0.000
3] Reserves & Surplus		16.239
4] (Accumulated Losses)		0.000
NETWORTH		17.239
LOAN FUNDS
1] Secured Loans		28.801
2] Unsecured Loans		13.726
TOTAL BORROWING		42.527
DEFERRED TAX LIABILITIES		0.173
TOTAL		59.939
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.744
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11.587
	Sundry Debtors	58.191
	Cash & Bank Balances	6.071
	Other Current Assets	0.000
	Loans & Advances	2.449
Total Current Assets		78.298
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	21.716
	Other Current Liabilities	0.000
	Provisions	0.387
Total Current Liabilities		22.103
Net Current Assets		56.195
MISCELLANEOUS EXPENSES		0.000
TOTAL		59.939

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	180.411	197.627	189.169
		Other Income	0.012	0.004	NA
		TOTAL (A)	180.423	197.631	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	170.293	186.806	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.130	10.825	9.507
Less	FINANCIAL EXPENSES (D)		5.973	6.028	5.069
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4.157	4.797	4.438
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.778	0.391	0.356
	PROFIT BEFORE TAX (E-F) (G)		3.379	4.406	4.082
Less	TAX (H)		1.047	1.363	1.212
	PROFIT AFTER TAX (G-H) (I)		2.332	3.043	2.870
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		18.920	15.877	13.007
	BALANCE CARRIED TO THE B/S		NA	18.920	15.877
	Earnings Per Share (Rs.)		23.32	30.43	28.70

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.29	1.54	NA
Net Profit Margin (PBT/Sales)	(%)	1.87	2.23	2.16
Return on Total Assets (PBT/Total Assets}	(%)	3.62	5.37	4.98
Return on Investment (ROI) (PBT/Networth)		0.15	0.22	0.24
Debt Equity Ratio (Total Debt/Networth)		1.76	2.50	2.47
Current Ratio (Current Asset/Current Liability)		1.45	1.57	3.54

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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 LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG TERM BORROWINGS
Loans and Advances from related parties	5.564	6.402
Others	4.175	5.011
Total	9.739	11.413

Note:

The registered office of the company has been shifted from 523/524, Arihant Marketing Road, Surat – 395002, Gujarat, India to the present w.e.f.13.12.2007.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U17111GJ2004PTC043868
Name of the company	SEYMORE PRINT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Sey More House, 102, Surana International, Ring Road, Surat - 395002, Gujarat, India Email: seymoreprints@yahoo.co.in
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra, India Email: RBBform8@hdfcbank.com CIN No.: L65920MH1994PLC080618
Nature of description of the instrument creating or modifying the charge	Letter of Hypothecation.
Date of instrument Creating the charge	30.07.2012
Amount secured by the charge	Rs.40.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment On demand. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge Hypothecation by way of First Charge on Stocks and Book Debts etc. to secure as a continuing security for the repayment of Rs.40.000 Millions together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property charged	Stock-in-trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties All the Debts, that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights

FIXED ASSETS:

Shop Equipments

Vehicles

Furniture and Fixture

Computer

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. 59.41
UK Pound	1	Rs. 90.38
Euro	1	Rs. 77.61

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.