MIRA INFORM REPORT

Report Date :

10.07.2013

IDENTIFICATION DETAILS

Name :	EKOPAK INDIA PRIVATE LIMITED (w.e.f. 13.03.2002)
Formerly Known As :	TRANSLINK TECHNOLOGIES INDIA PRIVATE LIMITED (w.e.f. 16.12.1996) HYPER IMPACT THREE-D GRAPHICS PRIVATE LIMITED
Registered Office :	No.6A, III-Phase, Peenya Industrial Area, Peenya, Bangalore – 560 058, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	10.10.1994
Com. Reg. No.:	08-016373
Capital Investment / Paid-up Capital :	Rs.9.849 millions
CIN No.: [Company Identification No.]	U30007KA1994PTC016373
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Aluminium Bottles.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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 commitment. The company can be considered for normal 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 – 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

Name :	Mr. Govindsang Pratapsang Barhat
Designation :	Director
Contact No.:	91-9375006877
Date :	06.07.2013

LOCATIONS

Registered Office :	No.6A, III-Phase, Peenya Industrial Area, Peenya, Bangalore – 560 058, Karnataka, India
Tel. No.:	91-80-28378006/ 28395731/ 28396309/ 28392891
Mobile No.:	91-9375006877 (Mr. G.P. Barhat)
Fax No.:	91-80-28392891
E-Mail :	ekopakbhuj23@rediffmail.com
Location :	Owned
Factory :	Survey No.383/1/2, Bhuj-Bhachav Highway, At and Post Paddhar, Taluka Kutch, Bhuj – 370 105, Gujarat, India
Tel. No.:	91-2832-299600/ 299644/ 325639
Fax No.:	91-2382-299644

DIRECTORS

AS ON 28.09.2012

Name :

Mr. Annallur Manakal Vasudevan

Designation :

Managing Director

Address :

No.402, Omkar Apartments, 12^th Cross, Malleswaram, Bangalore – 560 003, Karnataka, India

Date of Birth/Age :

15.08.1947

Date of Appointment :

01.04.2002

DIN No.:

01814594

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	U29222KA1977PTC003163	HIND COMP PRIVATE LIMITED	Managing director	08/03/1978	08/03/1978	-	Active	NO
2	U27203KA1982PTC005008	V S K EXTRUSIONS PRIVATE LIMITED	Director	01/12/1998	01/12/1998	15/11/2008	Active	NO
3	U27209KA1990PTC010968	SIVA EXTRUSIONS PRIVATE LIMITED	Managing director	22/02/1999	22/02/1999	-	Active	NO
4	U30007KA1994PTC016373	EKOPAK INDIA PRIVATE LIMITED	Managing director	01/04/2002	01/04/2002	-	Active	NO
5	U51512KA1981PTC004553	EQUIPMENTS AND SYSTEMS PRIVATE LIMITED	Director	15/10/2005	15/10/2005	-	Active	NO
6	U25200GJ2011PTC067457	EKO PET PRIVATE LIMITED	Director	13/10/2011	13/10/2011	-	Active	NO

Name :

Mrs. Anallur Mana Vidya Vasudevan

Designation :

Managing Director

Address :

No.402, Omkar Apartments, 12^th Cross, Malleswaram, Bangalore – 560 003, Karnataka, India

Date of Birth/Age :

06.08.1976

Date of Appointment :

01.04.2002

DIN No.:

00320511

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	U30007KA1994PTC016373	EKOPAK INDIA PRIVATE LIMITED	Managing director	01/04/2002	01/04/2002	-	Active	NO
2	U51512KA1981PTC004553	EQUIPMENTS AND SYSTEMS PRIVATE LIMITED	Director	15/10/2005	15/10/2005	-	Active	NO
3	U29222KA1977PTC003163	HIND COMP PRIVATE LIMITED	Director	04/01/2006	04/01/2006	-	Active	NO
4	U27209KA1990PTC010968	SIVA EXTRUSIONS PRIVATE LIMITED	Director	30/09/2011	01/09/2011	-	Active	NO

Name :

Mr. Govindsang Pratapsang Barhat

Designation :

Director

Address :

A/105, Pujan Flats, Behind Bhoomi Party Plot, A.E.C. Naranpura, Ahmedabad – 380 013, Gujarat, India

Date of Birth/Age :

08.10.1965

Date of Appointment :

01.06.2006

DIN No.:

00455066

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	U30007KA1994PTC016373	EKOPAK INDIA PRIVATE LIMITED	Director	01/06/2006	01/06/2006	-	Active	NO
2	U25200GJ2011PTC067457	EKO PET PRIVATE LIMITED	Director	13/10/2011	13/10/2011	-	Active	NO

Name :

Mr. Siddharth Kaviraj

Designation :

Whole Time Director

Address :

No.403, Heritage Plaza, Memnagar, Ahmedabad, Gujarat, India

Date of Appointment :

25.10.2004

DIN No.:

00514038

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
A.M. Vasudevan	270000
Sudha Vasudevan	135000
N.S. Barhat	70000
Kusum N. Barhat	70000
Siddharth Kaviraj	61200
Jagdish R. Kadia	56000
G.P. Barhat	55000
Vidya Vasudevan	45000
Veena Vasudevan	40000
Himanshu Barhat	10720
Shakuntala Kaviraj	20100
Deepak Varma	30000
Karthik Varma	16000
Gulab G. Barhat	51000
Shaktidan R. Gadhavi	20000
Namrata Gadhavi	20000
Hanubha G. Gadhavi	14880
Total	984900

AS ON 28.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Aluminium Bottles.
Products :	Aluminium Bottles PET Bottles for Agro Chemicals
Exports :
Products :	Finished Goods
Countries :	Malaysia Vietnam
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

Companies

No. of Employees :

100 (Approximately)

Bankers :

State Bank of Mysore, Ground Floor, Shetiratna Building, Panchavati Circle, Off C.G. Road, Ahmedabad – 380 006, Gujarat, India (Contact No.: 91-79-26400455)

Facilities :

Secured Loan	As on 31.03.2012 (Rs. in Millions)	As on 31.03.2011 (Rs. in Millions)
SHORT TERM BORROWINGS
Cash Credit facility from Banks (Cash credit facility is from a bank and is secured by the hypothecation of present and future stock in trade, packing materials, stock in process, finished goods and book debts.)	13.677	12.493
Term Loan	7.201	9.768
Vehicle Loan	0.095	0.325
Total	20.973	22.586

Banking Relations :	--
Auditors :
Name :	Amarnath Kamath and Company Chartered Accountants
Address :	Carewell House, 6^th Cross, Muniswamappa Layout, Opposite Total Mall, Off Hal Road, Bangalore – 560 017, Karnataka, India
PAN No:	AARPK7260K
Associates :	Hindcom Private Limited Siva Extrusion Private Limited

CAPITAL STRUCTURE

AS ON 28.09.2012

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
984900	Equity Shares	Rs.10/- each	Rs.9.849 millions

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	9.849	9.849
(b) Reserves & Surplus	12.608	9.545
(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)	22.457	19.394
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.434	0.455
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.434	0.455
(4) Current Liabilities
(a) Short term borrowings	24.559	26.620
(b) Trade payables	18.459	11.273
(c) Other current liabilities	4.794	3.714
(d) Short-term provisions	2.710	1.702
Total Current Liabilities (4)	50.522	43.309
TOTAL	73.413	63.158
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	24.302	26.354
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.963	2.774
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	25.265	29.128
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	10.514	9.772
(c) Trade receivables	35.303	22.212
(d) Cash and cash equivalents	0.116	0.622
(e) Short-term loans and advances	1.907	1.424
(f) Other current assets	0.308	0.000
Total Current Assets	48.148	34.030
TOTAL	73.413	63.158

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		7.350
2] Share Application Money		2.710
3] Reserves & Surplus		5.857
4] (Accumulated Losses)		0.000
NETWORTH		15.917
LOAN FUNDS
1] Secured Loans		8.205
2] Unsecured Loans		2.590
TOTAL BORROWING		10.795
DEFERRED TAX LIABILITIES		0.187
TOTAL		26.899
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.281
Capital work-in-progress		2.759
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.313
	Sundry Debtors	19.996
	Cash & Bank Balances	0.620
	Other Current Assets	0.000
	Loans & Advances	3.994
Total Current Assets		31.923
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.781
	Other Current Liabilities	5.018
	Provisions	3.277
Total Current Liabilities		20.076
Net Current Assets		11.847
MISCELLANEOUS EXPENSES		0.012
TOTAL		26.899

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	164.914	121.544	90.833
		Other Income	NA
		TOTAL	NA	121.544	90.833
Less	EXPENSES
		Office Expenses	NA	116.164	86.073
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	116.164	86.073
	PROFIT / (LOSS) BEFORE TAX		NA	5.380	4.760
Less	TAX		NA	1.793	1.594
	PROFIT / (LOSS) AFTER TAX		4.208	3.587	3.166
	EARNINGS IN FOREIGN CURRENCY		11.340	9.229	7.856
	Earnings / (Loss) Per Share (Rs.)		4.27	3.64	4.31

Particulars	31.03.2013
Sales Turnover (Approximately)	180.000

The above information has been parted by Mr. Govindsang Pratapsang Barhat (Director).

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	2.95	3.49
Return on Total Assets (PBT/Total Assets}	(%)	NA	8.52	10.77
Return on Investment (ROI) (PBT/Networth)		NA	0.28	0.30
Debt Equity Ratio (Total Debt/Networth)		1.09	1.37	0.68
Current Ratio (Current Asset/Current Liability)		0.95	0.79	1.59

LOCAL AGENCY FURTHER INFORMATION

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 four 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

Unsecured Loan	As on 31.03.2012 (Rs. in Millions)	As on 31.03.2011 (Rs. in Millions)
SHORT TERM BORROWINGS
From Inter-Corporate borrowings	2.400	2.505
From Directors	1.186	1.529
Total	3.586	4.034

Bankers Charges Report as per Registry

Corporate identity number of the company	U30007KA1994PTC016373
Name of the company	EKOPAK INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	No.6A, III-Phase, Peenya Industrial Area, Peenya, Bangalore – 560 058, Karnataka, India E-Mail: ekopakbhuj23@rediffmail.com
This form is for	Modification of charge
Charge identification number of the modified	80009054
Type of charge	Immovable Property Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	State Bank of Mysore, Ground Floor, Shetiratna Building, Panchavati Circle, Off C.G. Road, Ahmedabad – 380 006, Gujarat, India E-Mail: ahmedabad@sbm.com
Nature of description of the instrument creating or modifying the charge	Agreement of Loan-cum-Hypothecation dated 15.01.2013
Date of instrument Creating the charge	15.01.2013
Amount secured by the charge	Rs.15.000 millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest: Interest rate is 4% above Base rate (presently applicable 14.25%) floating as applicable to SB 2 borrower. Terms of Repayment: Repayment period is 12 months and is renewable. Margin: Margin on stocks(RM, SIP and FG)-25% Receivables(cover days)-40% (cover period 90 days) Letter of Credit-25% Extent and Operation of the charge: Hypothecation of stocks, book debts and collateral security of company's Land and Building at Bhuj, Gujarat cover the entire loan with interest.
Short particulars of the property charged	Hypothecation of stocks of RM, WIP and Finished goods, receivables, book debts and other current assets. Collateral security of Extension of hypothecation of Plant and machinery and other movable assets of the company. Also equitable mortgage of company's land and building at Sy. Np.383/1, Paddhar Tq., Bhuj (Kutch).
Date of latest modification prior to the present modification	16.02.2009
Particulars of the present modification	Existing Cash Credit (Hypothecation) limit of Rs.12.000 millions is enhanced to Rs.15.000 millions.

FIXED ASSETS:

· Land

· Factory Building

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Electrical Fittings

· Computers

· Cycle

· 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.60.07
UK Pound	1	Rs.89.91
Euro	1	Rs.77.43

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.