MIRA INFORM REPORT

Report Date :

05.06.2013

IDENTIFICATION DETAILS

Name :	METEORIC EXIM PRIVATE LIMITED METEORIC LIFE SCIENCES [A DIVISION OF METEORIC EXIM PRIVATE LIMITED]
Registered Office :	408, 409, Shail Complex Near Ship Cross Road, C.G. Road, Navrangpura Ahmedabad – 380006, Gujarat, India
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.04.2006
Com. Reg. No.:	04-048129
Capital Investment / Paid-up Capital :	Rs. 0.325 Million
CIN No.: [Company Identification No.]	U51100GJ2006PTC048129
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Industrial Enzymes, Pharmaceutical Enzymes and Veterinary.
No. of Employees :	Not Available

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 900
Status :	Small company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in field. Its scale of activities are limited. There appears some accumulated losses recorded by the company. However trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great 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 – 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.

LOCATIONS

Registered Office :	408, 409, Shail Complex Near Ship Cross Road, C.G. Road, Navrangpura Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-40371404/40080882
Fax No.:	91-79-40080881
E-Mail :	info@meteoric.com contact@meteoric.in poonam@meteoric.in gaurav@mrteoric.in
Website :	www.meteoric.in

DIRECTORS

As on 28.09.2012

Name :

Ms. Poonam Kailesh Gupta

Designation :

Director

Address :

A – 1. Amardeep, Flats, Near Fatehpur Garden, Paldi, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

30.03.1983

Date of Appointment :

13.04.2006

DIN No.:

00054516

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	U30006GJ2002PTC040405	ARROW TOTAL SOLUTIONS PRIVATE LIMITED	Director	06-02-03	06-02-03	15-09-07	Active	NO
2	U51909GJ1990PLC013748	NEPTUNE OVERSEAS LIMITED	Director	06-02-03	06-02-03	-	Active	NO
3	U65910GJ1995PTC026504	NEPTUNE WORLD TRADE FINANCE AND INVESTMENT PVT LTD	Director	06-03-03	06-03-03	-	Active	NO
4	U51100GJ2006PTC048129	METEORIC EXIM PRIVATE LIMITED	Director	13-04-06	13-04-06	-	Active	NO
5	U73100GJ2008PTC055626	THORIUM POWER PRIVATE LIMITED	Director	10-12-08	10-12-08	-	Active	NO

Name :

Mr. Gaurav Kaushik

Designation :

Director

Address :

A – 52, Shivam Tower Someshwar Complex – 1, Shyamal Four Square, Satellite, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

24.01.1983

Date of Appointment :

24.09.2009

DIN No.:

02617924

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares
Poonam Kailesh Gupta	29500
Gaurav Kaushik	3000
Total	32500

As on 28.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Industrial Enzymes, Pharmaceutical Enzymes and Veterinary.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank

Facilities :

Secured Loan	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
HDFC Car Loan	0.297	0.210
Total	0.297	0.210
NOTE: 1. The company has borrowed loan from HDFC bank for purchasing the car. This loan is taken at the rate of interest 11.14% and is repayable on monthly Installment basis. The loan Is repayable at the end of 3rd year from the year of borrowing. 2. The company has borrowed loan from HDFC bank for purchasing the car. This loan is taken at the rate of interest 9.25% and is repayable on monthly installment basis. The loan is repayable at the end of 3rd year from the year of borrowing.

Banking Relations :	--
Auditors :
Name :	Harsh P Kejriwal and Company Chartered Accountant
Address :	G-103, Indraprasth Tower, Drive In Road, Ahmedabad – 380054, Gujarat, India
PAN.:	AHXPK3632J

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
32500	Equity Shares	Rs.10/- each	Rs. 0.325 Million

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		0.325	0.325	0.325
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.097)	(0.332)	(0.381)
NETWORTH		0.228	(0.007)	(0.056)
LOAN FUNDS
1] Secured Loans		0.297	0.210	0.000
2] Unsecured Loans		0.600	0.500	1.100
TOTAL BORROWING		0.897	0.710	1.100
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.125	0.703	1.044
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.372	0.695	0.206
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.091	0.081	0.081
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.047	2.732	1.002
	Sundry Debtors	4.676	3.809	4.920
	Cash & Bank Balances	1.264	0.203	0.206
	Other Current Assets	0.000	0.010	0.000
	Loans & Advances	0.899	1.399	0.312
Total Current Assets		9.886	8.153	6.440
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.135	3.584	4.066
	Other Current Liabilities	4.052	4.546	1.580
	Provisions	0.037	0.096	0.062
Total Current Liabilities		10.224	8.226	5.708
Net Current Assets		(0.338)	(0.073)	0.732
MISCELLANEOUS EXPENSES		0.000	0.000	0.025
TOTAL		1.125	0.703	1.044

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	12.307	14.526	15.894
		Other Income	0.000	0.006	0.051
		TOTAL (A)	12.307	14.532	15.945
Less	EXPENSES
		Cost of materials consumed	4.845	8.448
		Purchase of stock in trade	0.000	1.446
		Changes in inventories of finished goods. Work in progress. Stock in trade	(0.540)	(1.454)
		Employee benefit expense	1.922	1.664
		Other Expenses	5.405	4.124
		TOTAL (B)	11.632	14.228	15.874
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.675	0.304	0.071
Less	FINANCIAL EXPENSES (D)		0.119	0.077	0.009
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.556	0.227	0.062
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.370	0.116	0.035
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.186	0.111	0.027
Less	TAX (H)		(0.009)	0.062	0.003
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.195	0.049	0.024
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.332)	(0.381)	(0.405)
	BALANCE CARRIED TO THE B/S		(0.137)	(0.332)	(0.381)
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods on F.O.B	NA	5.503	2.770
	TOTAL EARNINGS		NA	5.503	2.770
	IMPORTS
		Trading Goods	NA	1.428	0.382
	TOTAL IMPORTS		NA	1.428	0.382
	Earnings Per Share (Rs.)		6.00	1.52	0.75

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.58	0.34	0.15
Net Profit Margin (PBT/Sales)	(%)	1.51	0.76	0.17
Return on Total Assets (PBT/Total Assets}	(%)	1.65	1.25	0.40
Return on Investment (ROI) (PBT/Networth)		0.81	(15.86)	(0.48)
Debt Equity Ratio (Total Debt /Networth)		3.93	(101.43)	(19.64)
Current Ratio (Current Asset/Current Liability)		0.97	0.99	1.13

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	No
10]	Designation of contact person	No
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE: Registered office of the company has been shifted from 108, Sahil Building, Behind Girish Cold Drinks, C.G. Road, Navarangpura, Ahmedabad – 380006, Gujarat, India to the present address w.e.f. 22.02.2013

UNSECURED LOAN:

Particulars	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
From Others	0.600	0.500
Total	0.600	0.500

NOTE: Interest free Deemed loan from Shareholders of the Company are Interest free loan which are repayable in the future on yearly basis.

OPERATIONS:

During this year the Company has launched several speciality enzymes and nutrition based products, which has given remarkable growth in business. These products have given growth in domestic as well as export market to the Company. Company has also initiated research and development work on Bioethanol, Pre and Pro biotics and other pharmaceutical enzymatic preparations. Company has exported its products in Australia, Bangladesh, Canada, USA and UK Taiwan, South Korea. Company has expanded its vision for retail market as well.

FIXED ASSETS:

· Computer

· Telephone

· Air Conditioner

· Electrical Fitting

· Furniture

· Refrigerator

· Motor Car

· Software

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.86.68
Euro	1	Rs.73.97

INFORMATION DETAILS

Report Prepared by :

ANK

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	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.