MIRA INFORM REPORT

Report Date :

24.07.2013

IDENTIFICATION DETAILS

Name :	HOLAM ORGANICS PRIVATE LIMITED (w. e .f. 07.10.1998)
Formerly Known As :	PLIOORIP POLYMERS PRIVATE LIMITED
Registered Office :	Flat No. 402, Satya Sadan, 4th Floor, Bhimani Steel, Matunga, Mumbai - 400019, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	25.01.1993
Com. Reg. No.:	11-070508
Capital Investment / Paid-up Capital :	Rs.0.861 Million
CIN No.: [Company Identification No.]	U24134MH1993PTC070508
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Chemicals.
No. of Employees :	65 (Approximately)

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 4800
Status :	Small company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported to be fair. Business is active. Payment terms are reported to be slow. 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

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. Shiv
Designation :	Clerk
Contact No.:	91-22-23447963
Date :	22.07.2013

LOCATIONS

Registered Office :	Flat No. 402, Satya Sadan, 4th Floor, Bhimani Steel, Matunga, Mumbai - 400019, Maharashtra, India
Tel. No.:	91-22-23447963
Fax No.:	91-22-23447963/ 400019
E-Mail :	htc9999@gmail.com
Location :	Owned
Factory :	W – 99, Phase – II, MIDC, Dombivali (East), Thane, Maharashtra, India

DIRECTORS

As on: 29.09.2012

Name :

Mr. Haresh Mehta

Designation :

Director

Address :

8, Satya Sadan, 3rd Floor, Bimani Street, Matunga CR, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

14.02.1968

Date of Appointment :

07.10.1998

DIN No.:

00059519

Name :

Mr. Hitesh Vinod Mehta

Designation :

Director

Address :

Flat No. 402, Satya Sadan, 4th Floor, Bhimani Steel, Matunga, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

09.01.1966

Date of Appointment :

31.03.2007

DIN No.:

01965406

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	U24134MH1993PTC070508	HOLAM ORGANICS PRIVATE LIMITED	Director	31/03/2007	31/03/2007	-	Active	NO
2	U24114MH2003PTC139784	NAV NIDHAN ORGANICS PRIVATE LIMITED	Director	31/03/2007	31/03/2007	-	Active	NO

Name :

Mr. Vinodrai Jechandbhai Mehta

Designation :

Director

Address :

34, Kaushik Niwas, L Napoo Road, Matunga C R, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

10.10.1941

Date of Appointment :

07.10.1998

DIN No.:

03572674

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Nilesh V. Mehta J/W Alpa N. Mehta	51
Hitesh V Mehta J/W Vaishali H Mehta	45
Haresh V Mehta J/W Falguni H Mehta	2118
Vinodrai J Mehta J/W Nirmala V Mehta	3400
Hitesh V Mehta J/W Vaishali H Mehta	40
Haresh V Mehta J/W Falguni H Mehta	150
Vinodrai J Mehta J/W Nirmala V Mehta	2805
Total	8609

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Chemicals.
Terms :
Selling :	Cash and credit
Purchasing :	Cash and credit

GENERAL INFORMATION

Suppliers :	· Jai Mata Di Petro Chem · J. K. Brothers · Matrix · Real Chemicals · Reliance Industries Limited ( Patalganga ) · Samant Auto · Sanghi Polysters Limited · Sky Chem · Vijay Enterprises
Customers :	· Bijoy Chemi Products · Calyx Chemicals and Pharma · Central India Polysters Limited · Elsa Lubes · Excel Petroleum Private Limited · Ganesh Traders · Nirmal Chemical Private Limited · Oberoi Industries · Relene Petrochemicals Private Limited · Siddharth Industries · Suraux Chemicals Private Limited · Vrinda Chemical and Petroleum Private Limited
No. of Employees :	65 (Approximately)
Bankers :	Indian Bank

Banking Relations :	--
Auditors :
Name :	Yogesh Patil and Company Chartered Accountants
Address :	233, Grohitam Premises, Sector 19, Vashi, Navi Mumbai - 400705, Maharashtra, India
Tel. No.:	91-22-27668611
Mobile No.:	91-9892323405
E-Mail :	yppatil@yahoo.com
PAN No.:	AAXPP0332K

CAPITAL STRUCTURE

As on:, 31.03.2012

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8,609	Equity Shares	Rs.100/- each	Rs.0.861 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	0.861	0.861
(b) Reserves & Surplus	0.355	0.332
(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)	1.216	1.193
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.004	0.004
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.004	0.004
(4) Current Liabilities
(a) Short term borrowings	1.597	3.109
(b) Trade payables	1.837	1.830
(c) Other current liabilities	0.243	0.090
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	3.677	5.029
TOTAL	4.897	6.226
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.067	1.105
(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	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1.067	1.105
(2) Current assets
(a) Current investments	0.071	0.071
(b) Inventories	0.097	0.802
(c) Trade receivables	1.211	3.343
(d) Cash and cash equivalents	0.194	0.539
(e) Short-term loans and advances	2.172	0.076
(f) Other current assets	0.085	0.290
Total Current Assets	3.830	5.121
TOTAL	4.897	6.226

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.861
2] Share Application Money		0.000
3] Reserves & Surplus		0.310
4] (Accumulated Losses)		0.000
NETWORTH		1.171
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		5.561
TOTAL BORROWING		5.561
DEFERRED TAX LIABILITIES		0.005
TOTAL		6.737
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.998
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.123
	Sundry Debtors	2.901
	Cash & Bank Balances	0.670
	Other Current Assets	0.000
	Loans & Advances	0.350
Total Current Assets		6.044
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.305
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.305
Net Current Assets		5.739
MISCELLANEOUS EXPENSES		0.000
TOTAL		6.737

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	4.542	6.849	5.217
		Other Income	NA	0.011	0.010
		TOTAL (A)	NA	6.860	5.227
Less	EXPENSES
		Manufacturing and Other Expenses	NA	6.786	5.122
		TOTAL (B)	NA	6.786	5.122
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.076	0.074	0.105
Less	FINANCIAL EXPENSES (D)		0.005	0.005	0.007
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.071	0.069	0.098
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.038	0.041	0.023
	PROFIT BEFORE TAX (E-F) (G)		0.033	0.028	0.075
Less	TAX (H)		0.010	0.006	0.003
	PROFIT AFTER TAX (G-H) (I)		0.023	0.022	0.045
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.332	0.310	0.265
	BALANCE CARRIED TO THE B/S		0.355	0.332	0.310
	Earnings Per Share (Rs.)		2.67	2.53	5.28

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	0.32	0.86
Net Profit Margin (PBT/Sales)	(%)	0.73	0.41	1.44
Return on Total Assets (PBT/Total Assets}	(%)	0.67	0.45	1.07
Return on Investment (ROI) (PBT/Networth)		0.03	0.02	0.06
Debt Equity Ratio (Total Debt /Networth)		1.31	2.61	4.75
Current Ratio (Current Asset/Current Liability)		1.04	1.02	19.82

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	Yes
18]	Major customers	Yes
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	No
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

Note: The registered office of the company has been shifted from 8, Satya Sadan, 3rd Floor, Bhimani Street, Matunga C.R., Mumbai - 400019, Maharashtra, India to present address.

RESULTS OF OPERATIONS:

The Company is growing at slow but steady pace. In the year under consideration it has maintained its profits level and has witnessed slight increase in the profits. The directors are confident that the Company will achieve scalable profits and reach to new heights in terms of sales and profitability in the coming years.

UNSECURED LOAN:

(Rs. in Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
SHORT TERM BORROWINGS
Others Loans and Advances	1.597	3.109
Total	1.597	3.109

FIXED ASSETS:

· Land and Building

· Plant and Machinery

· Weighing Scale

· Fire Extinguisher

· 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.59.69
UK Pound	1	Rs.91.66
Euro	1	Rs.78.69

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	RAJ

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	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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

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.