MIRA INFORM REPORT

Report Date :

22.07.2013

IDENTIFICATION DETAILS

Name :	KAMBARE CHEMICALS INDIA PRIVATE LIMITED
Registered Office :	Shop No C, Jawahar Mansion, Thakurdwar, Mumbai-400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.09.1999
Com. Reg. No.:	11-121778
Capital Investment / Paid-up Capital :	Rs. 8.916 Millions
CIN No.: [Company Identification No.]	U24110MH1999PTC121778
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of Lead and Lead Products, Grey Oxide, Litharge, Red Lead, Lead and Lead Alloys, Ferrous and Non Ferrous Metals
No. of Employees :	Information denied by the management

RATING & COMMENTS

MIRA’s Rating :

B (27)

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
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The external borrowings of the company’s are huge. There also appears sharp dip in the profitability of the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. Note: Current year profit and loss account is not available.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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. Dinesh Kothari
Designation :	Director
Contact No.:	91-22-23853658
Date :	20.07.2013

LOCATIONS

Registered Office :	Shop No C, Jawahar Mansion, Thakurdwar, Mumbai-400002, Maharashtra, India
Tel. No.:	91-22-23853658
Mobile No.:	91-9870320301 (Mr. Dinesh Kothari)
Fax No.:	Not Available
E-Mail :	morolia@gmail.com

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Pistabai Rikhabchand Kothari
Designation :	Director
Address :	15/16, Latakunj, Zavbawadi, Thakurdwar, Mumbai-400002, Maharashtra, India
Date of Birth/Age :	26.04.1953
Date of Appointment :	15.09.1999
DIN No.:	01049303
Name :	Mr. Dinesh Rikhabchand Kothari
Designation :	Director
Address :	15/16, Latakunj, Zavbawadi, Thakurdwar, Mumbai-400002, Maharashtra, India
Date of Birth/Age :	31.03.1984
Date of Appointment :	30.07.2004
DIN No.:	01074583

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Pistabai R. Kothari	89140
Bhagwanti L Kothari	1
Mamta L Kothari	1
R.G. Kothari HUF	1
Dinesh Kothari	8
Mamta R Jain	1
Pravin Jain	1
Jayshree R Kothari	1
Anita Kothari	1
Shyam IceCream	1
Sangeeta R Kothari	1
Kothari Metal and Alloys, India	1
Vinod R Kothari H.U.F	1
Mahadev Metal Corporation, India	1
TOTAL	89160

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Importer of Lead and Lead Products, Grey Oxide, Litharge, Red Lead, Lead and Lead Alloys, Ferrous and Non Ferrous Metals

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	Actual Production
Lead Ingot / Alloys Ingot	KG	2013997
Lead Litharge	KG	416416
TBLS	KG	10340

GENERAL INFORMATION

Suppliers :

· Aseem Global Limited

· Dee Vee Metals

· Glory Electrical Works

· Bhairav Metals

· Maître Impex

· Deep Industries

· Metec Asia Private Limited

· Nitesh Roadways

· Nagesh Shipping Agency

· Sparco Industries

· Seema Internet Private Limited

· Sun Exports Private Limited

No. of Employees :

Information denied by the management

Bankers :

· Bank of Rajasthan

· State Bank of India, Specialized SIB Branch, Hotel Airways Building, Ground Floor, LBS Marg, Ghatkopar (West), Mumbai-400086, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Vehicles Loan
From Banks The above loans is secured by hypothecation of vehicles on which the said loan is taken Repayable in 26 monthly installment by May 2014	0.286	0.397
TOTAL	0.286	0.397

Banking Relations :	--
Auditors :
Name :	G H Morolia and Company Chartered Accountant
Address :	Building No.2, Room No.60, Shivaji Nagar, Shree Ganesh Co-Operative Housing Society, Dr. A B Road, Worli, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-24930549
Mobile No.:	91-98922424334
PAN No.:	AACPM5617R

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
89160	Equity Shares	Rs.100/- each	Rs. 8.916 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	8.916	8.916
(b) Reserves & Surplus	10.178	9.571
(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)	19.094	18.487
(3) Non-Current Liabilities
(a) long-term borrowings	34.083	27.589
(b) Deferred tax liabilities (Net)	0.658	0.000
(c) Other long term liabilities	0.050	0.050
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	34.791	27.639
(4) Current Liabilities
(a) Short term borrowings	9.783	1.675
(b) Trade payables	27.356	51.838
(c) Other current liabilities	1.952	3.445
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	39.091	56.958
TOTAL	92.976	103.084
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.962	5.002
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	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	4.012	3.842
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	8.974	8.844
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	33.935	16.126
(c) Trade receivables	22.284	58.302
(d) Cash and cash equivalents	2.980	2.896
(e) Short-term loans and advances	24.803	16.916
(f) Other current assets	0.000	0.000
Total Current Assets	84.002	94.240
TOTAL	92.976	103.084

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		8.916
2] Share Application Money		0.000
3] Reserves & Surplus		2.000
4] (Accumulated Losses)		0.000
NETWORTH		10.916
LOAN FUNDS
1] Secured Loans		0.495
2] Unsecured Loans		22.102
TOTAL BORROWING		22.597
DEFERRED TAX LIABILITIES		0.000
PROFIT AND LOSS ACCOUNT		5.933
TOTAL		39.446
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.517
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.850
	Sundry Debtors	41.811
	Cash & Bank Balances	2.136
	Other Current Assets	2.953
	Loans & Advances	27.497
Total Current Assets		80.247
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	46.318
	Provisions	0.000
Total Current Liabilities		46.318
Net Current Assets		33.929
MISCELLANEOUS EXPENSES		0.000
TOTAL		39.446

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	417.431	298.235
		Other Income
		TOTAL	417.431	298.235
Less	EXPENSES
		Office Expenses	414.919	296.345
		Administrative Expenses
		Advertising Expenses
		TOTAL	414.919	296.345
	PROFIT / (LOSS) BEFORE TAX		2.512	1.890
Less	TAX		0.875	0.691
	PROFIT / (LOSS) AFTER TAX		1.637	1.199
	Earnings / (Loss) Per Share (Rs.)		18.36	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	0.39	0.40
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.44	2.20
Return on Investment (ROI) (PBT/Networth)		NA	0.14	0.17
Debt Equity Ratio (Total Debt /Networth)		2.30	1.58	2.07
Current Ratio (Current Asset/Current Liability)		2.15	1.65	1.73

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 two years	Yes
12]	Profitability for last two 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	Yes
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN 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

Unsecured Loan

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Long Term Borrowings

Loans and Advances from Related Parties

16.122

13.153

Loans and Advances from Shareholders

6.617

2.982

Deferred Payment Liabilities

Sales Tax Deferred Payment Loan

Repayable in 4 annual installment starting from 2014

11.058

11.058

Short Term Borrowings

Loans Repayable on Demand

From Banks

Bank Overdraft

2.583

0.401

Loans and Advances from Related Parties

0.000

0.700

Advances Received from Customers

7.200

0.573

TOTAL

43.580

28.867

NOTES

SHORT TERM BORROWINGS

DETAILS OF SUNDRY ADVANCES RECEIVED

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011
Krishna Impex	0.000	0.700
Hemendra Metal Industries	0.000	0.494
V Mittra Sons	0.000	0.080
Major Metal Limited (Trading)	7.200	0.000

CURRENT MATURITIES OF LONG TERM DEBT

(Rs. In Millions)

Particulars

31.03.2012

31.03.2011

31.03.2010

Current maturities of long term debt

Other Payables

Liabilities for Expenses

1.952

3.445

NA

TOTAL

1.952

3.445

NA

NOTES

Details of liabilities for expenses

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011
Professional Fees	0.020	0.096
Audit Fees and Expenses	0.029	0.040
Account Writing	0.040	0.035
Electricity Charges Payable	0.059	0.051
Salary Payable	0.107	0.155
Paresh J Jain	0.000	0.106
Paresh Jethmal Jain	0.000	0.101
Rakesh D Kothari HUF	0.000	0.006
Ex-Gratia	0.000	0.581
Sales Tax	1.407	1.302
TDS (Deducted by US)	0.235	0.531
Mewada Marketing	0.000	0.005
Rakesh D Kothari	0.000	0.002
Mohan Lal and Sons	0.000	0.020
Nirmal L Kothari HUF	0.011	0.017
Hasmukhlala S Jain	0.000	0.004
Manoj G Munot HUF	0.000	0.052
Mehul Metal	0.000	0.335
Technochem Engineers	0.021	0.000
Amrutlal S Jain	0.000	0.006
Mitesh N Kothari	0.023	0.000
TOTAL	1.952	3.445

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Electric Installation

· Electronic Weighing Machine

· Weighing Scale

· Electric Water Machine

· Computer

· Water Cooler

· Air Conditioner

· Lap Top

· Mobile Phone

· Scanner

· Motor Car

· Motor Cycle

· Printer

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. 59.79
UK Pound	1	Rs. 91.03
Euro	1	Rs. 78.52

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	DPT

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	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.