MIRA INFORM REPORT

Report Date :

05.06.2013

IDENTIFICATION DETAILS

Name :	ANIL TECHNOPLUS LIMITED [w.e.f.25.04.2009]
Formerly Known As :	ANIL TECHNOPLUS PRIVATE LIMITED [w.e.f.05.02.2009] ARION ENGINEERING PRIVATE LIMITED [w.e.f.28.05.2008] RAHUL TRADING PRIVATE LIMITED
Registered Office :	1, Panduranga Society, Judges Bunglow Road, Bodakdev, Ahmedabad – 380054, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.11.1998
Com. Reg. No.:	04-034972
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U51100GJ1998PLC034972
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Fabric Equipment and Machinery.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears huge accumulated loss recorded by the company which has completely eroded the networth. The external borrowings are also huge. However, business is active. Payment terms are slow. The company can be considered for business dealings on a safe and secured 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
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. Asit Selarka
Designation :	Head Finance
Contact No.:	91-79-40282000
Date :	05.06.2013

LOCATIONS

Registered Office :	1, Panduranga Society, Judges Bunglow Road, Bodakdev, Ahmedabad – 380054, Gujarat, India
Tel. No.:	91-79-40282000
Fax No.:	91-79-40282001
E-Mail :	investor.relations@anil.co.in asit.selarka@anil.co.in
Website :	www.anil.co.in
Location :	Owned
Corporate Office :	Anil Corporate House, Opposite WIAA, Besides DLA School, Off. Judges Bungalow Road, Bodakdev, Ahmedabad – 380054, Gujarat, India
Tel. No.:	91-79-22203222
Fax No.:	91-79-22200731
E-Mail :	info@anil.co.in
Factory :	Located at: Ø Karan Nagar, District Mehsana, Gujarat, India

DIRECTORS

AS ON 29.09.2012

Name :

Dipal Piyushbhai Palkhiwala

Designation :

Director

Address :

16, Ashwamegh - 07, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

28.11.1968

Date of Appointment :

29.09.2012

DIN No.:

00053650

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	U24230GJ1995PLC025716	MAPS ENZYMES LIMITED	Whole-time director	03/05/1995	03/05/1995	31/12/2007	Active	NO
2	U24119GJ2006PTC048314	MICRO BIO SEARCH PRIVATE LIMITED	Director	25/05/2006	25/05/2006	31/12/2007	Active	NO
3	U51909GJ1993PLC019894	ANIL BIOPLUS LIMITED	Director	23/08/2010	18/01/2010	-	Active	NO
4	U52300GJ2010PTC061067	ASCENT LIFESTYLE PRIVATE LIMITED	Director	11/06/2010	11/06/2010	-	Active	NO
5	U73200GJ2011PTC064359	ISHAAN BIO PRIVATE LIMITED	Director	11/03/2011	11/03/2011	-	Active	NO
6	U24230GJ2010PLC059622	ANIL LIFE SCIENCES LIMITED	Director	16/08/2011	24/05/2011	-	Active	NO
7	U23209GJ2000PLC037132	ANIL NUTRIENTS LIMITED	Director	29/09/2011	30/05/2011	-	Active	NO
8	U13204GJ2004PLC043954	ANIL MINES AND MINERALS LIMITED	Director	27/09/2012	01/11/2011	-	Active	NO
9	U60910GJ1998PLC034969	ASCENT KNOWLEDGE SOLUTIONS LIMITED	Director	29/09/2012	01/11/2011	-	Active	NO
10	U74110GJ1995PLC028364	ANIL HOSPITALITY VENTURES LIMITED	Director	27/09/2012	01/11/2011	-	Active	NO
11	U51100GJ1998PLC034972	ANIL TECHNOPLUS LIMITED	Director	29/09/2012	01/11/2011	-	Active	NO
12	U29253GJ2009PTC057096	GENIE CORPORATION PRIVATE LIMITED	Additional director	09/02/2013	09/02/2013	-	Active	NO

Name :

Mr. Ashish Hemantkumar Shah

Designation :

Director

Address :

8, Bopal, 444, 200 Ft. S.P. Ring Road, Next to Sun City, Bopal, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

09.11.1968

Date of Appointment :

28.09.2011

DIN No.:

03564091

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	U51100GJ1998PLC034972	ANIL TECHNOPLUS LIMITED	Director	28/09/2011	15/06/2011	Active	NO
2	U52300GJ2010PTC061067	ASCENT LIFESTYLE PRIVATE LIMITED	Director	29/09/2012	01/11/2011	Active	NO
3	U74110GJ1995PLC028364	ANIL HOSPITALITY VENTURES LIMITED	Director	27/09/2012	01/11/2011	Active	NO
4	U45201GJ2009PLC056491	ANIL INFRAPLUS LIMITED	Additional director	02/04/2013	02/04/2013	Active	NO

Name :

Mr. Gaurav Gunottam Shah

Designation :

Director

Address :

207, Vrundavan II, Bh Ashwamegh I, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

01.11.1968

Date of Appointment :

28.09.2011

DIN No.:

02607793

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	U55101GJ2008PTC054565	WILDWOODS RESORTS AND REALTIES PRIVATE LIMITED	Director	27/04/2011	27/04/2011	Active	NO
2	U74110GJ1995PLC028364	ANIL HOSPITALITY VENTURES LIMITED	Director	29/09/2011	30/05/2011	Active	NO
3	U51100GJ1998PLC034972	ANIL TECHNOPLUS LIMITED	Director	28/09/2011	15/06/2011	Active	NO
4	U15400GJ2011PTC066066	ANIL MEGA FOOD PARK PRIVATE LIMITED	Director	27/06/2011	27/06/2011	Active	NO
5	U13204GJ2004PLC043954	ANIL MINES AND MINERALS LIMITED	Director	27/09/2012	10/09/2012	Active	NO
6	U45201GJ1997PLC032120	GUJARAT (BHAL) CONSTRUCTION LIMITED	Additional director	29/09/2012	29/09/2012	Active	NO
7	U67100GJ2012PTC072039	AMOHA ENTERPRISE PRIVATE LIMITED	Director	16/10/2012	16/10/2012	Active	NO
8	U29100GJ2011PTC064252	AAHNA SOLAR PRIVATE LIMITED	Director	11/12/2012	11/12/2012	Active	NO

Name :

Mr. Nalinkumar Suryanarayan Thakur

Designation :

Director

Address :

501, Shriniketan, Opposite Darpan Academy, Usmanpura, Ahmedabad – 380013, Gujarat, India

Date of Birth/Age :

01.01.1961

Date of Appointment :

29.09.2012

DIN No.:

03540700

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	U74110GJ1995PLC028364	ANIL HOSPITALITY VENTURES LIMITED	Director	29/09/2011	30/05/2011	Active	NO
2	U60910GJ1998PLC034969	ASCENT KNOWLEDGE SOLUTIONS LIMITED	Director	30/09/2011	06/07/2011	Active	NO
3	U52300GJ2010PTC061067	ASCENT LIFESTYLE PRIVATE LIMITED	Director	29/09/2012	01/11/2011	Active	NO
4	U13204GJ2004PLC043954	ANIL MINES AND MINERALS LIMITED	Director	27/09/2012	01/11/2011	Active	NO
5	U51100GJ1998PLC034972	ANIL TECHNOPLUS LIMITED	Director	29/09/2012	01/11/2011	Active	NO
6	U51909GJ1993PLC019894	ANIL BIOPLUS LIMITED	Director	14/09/2012	01/11/2011	Active	NO
7	U23209GJ2000PLC037132	ANIL NUTRIENTS LIMITED	Director	27/09/2012	01/11/2011	Active	NO
8	U45201GJ2009PLC056491	ANIL INFRAPLUS LIMITED	Additional director	02/04/2013	02/04/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Asit Selarka
Designation :	Head Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Amol Sheth (Nominee of Anil Infraplus Limited)	1
Asmita Sheth (Nominee of Anil Infraplus Limited)	1
Payal Sheth (Nominee of Anil Infraplus Limited)	1
Agranil Marketing Limited (Nominee of Anil Infraplus Limited)	1
Aught Invesfinnets Private Limited (Nominee of Anil Infraplus Limited)	1
Anil Hospitality Ventures Limited (Nominee of Anil Infraplus Limited)	1
Anil Infraplus Limited, India	999994
Total	1000000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Fabric Equipment and Machinery.
Imports :
Products :	Raw Material
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity
Pistons	Nos.	750000	750000
Piston Rings	Nos.	120000	120000

GENERAL INFORMATION

Customers :

Manufacturing Company

No. of Employees :

15 (Approximately)

Bankers :

IDBI Bank Limited, IDBI Complex, Near Lal Bungalow, Off. C G Road, Ahmedabad - 380006, Gujarat, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term Loans from Banks	17.651	0.000
Vehicle Loan	0.447	0.000
Working Capital Loan from IDBI Bank	3.976	0.000
Total	22.074	0.000

Banking Relations :	--
Auditors :
Name :	Shah and Patel Chartered Accountants
Address :	5-B, Vardan Exclusive, Near Vimal House, Stadium Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-30222277/ 30222288
E-Mail :	mail@shahandpatel.com
Income-tax PAN of auditor or auditor's firm :	APMPS0397D
Holding Company :	Anil Infraplus Limited [U45201GJ2009PLC056491]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.000	0.500	0.500
2] Share Application Money		0.000	11.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(19.190)	(19.130)	(17.395)
NETWORTH		(9.190)	(7.630)	(16.895)
LOAN FUNDS
1] Secured Loans		22.074	0.000	1.897
2] Unsecured Loans		104.557	84.466	66.637
TOTAL BORROWING		126.631	84.466	68.534
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		117.441	76.836	51.639
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		93.124	54.842	47.583
Capital work-in-progress		0.000	6.194	0.087
INVESTMENT		0.010	0.149	0.435
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.400	6.513	6.521
	Sundry Debtors	22.335	19.591	10.003
	Cash & Bank Balances	2.791	4.348	3.740
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.867	5.419	7.025
Total Current Assets		47.393	35.871	27.289
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.749	18.776	20.055
	Other Current Liabilities	2.719	0.920	2.094
	Provisions	0.618	0.524	1.606
Total Current Liabilities		23.086	20.220	23.755
Net Current Assets		24.307	15.651	3.534
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		117.441	76.836	51.639

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	31.620	32.903	25.579
		Other Income	0.000	0.001	2.176
		TOTAL (A)	31.620	32.904	27.755
Less	EXPENSES
		Cost of material consumed	6.090	8.238
		Transport expense	7.524	6.461
		Changes in inventories of finished goods, work in progress and stock in trade	(5.297)	0.222
		Employee benefit Expenses	6.575	5.269
		Other Expenses	11.905	11.537
		Short/ (Excess) of Income tax	0.130	0.515
		TOTAL (B)	26.927	32.242	29.167
Less	PROFIT/ [LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.693	0.662	(1.412)
Less	FINANCIAL EXPENSES (D)		1.876	0.120	0.770
	PROFIT/ [LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.817	0.542	(2.182)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.877	2.277	2.488
	PROFIT/ [LOSS] BEFORE TAX (E-F) (G)		(0.060)	(1.735)	(4.670)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/ [LOSS] AFTER TAX (G-H) (I)		(0.060)	(1.735)	(4.670)
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	0.000	0.000	1.287
	Earnings/ [Loss] Per Share (Rs.)		(0.060)	(34.70)	(93.41)

Particulars	31.03.2013
Sales Turnover (Approximately)	150.000
	[Due to more orders]

The above information has been parted by Mr. Asit Selarka [Head Finance]

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(0.19)	(5.27)	(16.83)
Net Profit Margin (PBT/Sales)	(%)	(0.19)	(5.27)	(18.26)
Return on Total Assets (PBT/Total Assets}	(%)	(0.04)	(1.91)	(6.24)
Return on Investment (ROI) (PBT/Networth)		0.01	0.23	0.28
Debt Equity Ratio (Total Debt/Networth)		(13.78)	(11.07)	(4.06)
Current Ratio (Current Asset/Current Liability)		2.05	1.77	1.15

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 four years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	Yes
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)	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)
Inter Corporate Deposit	104.557	84.466
Total	104.557	84.466

FIXED ASSETS:

Ø Land

Ø Office Equipment

Ø Computer

Ø Equipment

Ø Electronic Installation

Ø Furniture and Fixture

Ø Plant and Machinery

Ø Vehicles

Ø Trucks

Ø Building

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. 56.64
UK Pound	1	Rs. 86.69
Euro	1	Rs. 73.97

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		16

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.