MIRA INFORM REPORT

Report Date :

08.06.2013

IDENTIFICATION DETAILS

Name :	PRAKASH TECHNO PLAST INDIA PRIVATE LIMITED
Registered Office :	B-3, SIDCO Industrial Estate, Phase – I, Hosur – 635126, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	23.11.2010
Com. Reg. No.:	18-016545
Capital Investment / Paid-up Capital :	Rs. 8.000 Millions
CIN No.: [Company Identification No.]	U25190TZ2010PTC016545
TAN No.: [Tax Deduction & Collection Account No.]	CHEP13003E
PAN No.: [Permanent Account No.]	AAFCP7262H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Plastic Molded Components and Moulds.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 46000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company having a moderate track record. In its first year of business operations company has performed well. The reserve seems to be low. However, trade relations are improving. Business is active. Payment terms are reported as slow but correct. Initially the company can be considered for small to mediocre 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

Name :	Ms. Megala
Designation :	Account Department
Contact No.:	91-9025556017
Date :	07.06.2013

LOCATIONS

Registered Office/ Factory :	B-3, SIDCO Industrial Estate, Phase – I, Hosur – 635126, Tamilnadu, India
Tel. No.:	91-4344-278877/ 277830
Mobile No.:	91-9025556017 [Ms. Megala]
Fax No.:	Not Available
E-Mail :	prakashplast@yahoo.com prakashtechnoplast@yahoo.com
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Prakash Mohandas Valecha

Designation :

Director

Address :

C/O. Prakash Plastics, SIDCO, 1^st Phase, Krishnagiri, Hosur – 635126, Tamilnadu, India

Date of Birth/Age :

06.12.1977

Date of Appointment :

23.11.2010

DIN No.:

03276429

Name :

Ms. Jyoti Prakash Valecha

Designation :

Director

Address :

A6/A, SIDCO Industrial Estate, Near Ashok Leyland, Krishnagiri, Hosur – 635126, Tamilnadu, India

Date of Birth/Age :

12.04.1979

Date of Appointment :

23.11.2010

DIN No.:

03276428

Name :

Ms. Varkha Jeetendra Valecha

Designation :

Director

Address :

803, A Wing, Floriana Estate, Sarjapur Road, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

01.07.1982

Date of Appointment :

29.09.2011

DIN No.:

03316260

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	U25190TZ2010PTC016545	PRAKASH TECHNO PLAST INDIA PRIVATE LIMITED	Director	29/09/2011	02/02/2011	Active	NO

Name :

Ms. Rani Mohandas Valecha

Designation :

Director

Address :

801, A Wing, Floriana Estate, Sarjapur Road, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

01.10.1950

Date of Appointment :

29.09.2011

DIN No.:

03316264

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	U25190TZ2010PTC016545	PRAKASH TECHNO PLAST INDIA PRIVATE LIMITED	Director	29/09/2011	02/02/2011	Active	NO

KEY EXECUTIVES

Name :	Ms. Megala
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Prakash Mohandas Valecha	500000
Jyoti Prakash Valecha	100000
Varkha Jeetendra Valecha	100000
Rani Mohandas Valecha	100000
Total	800000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer of Plastic Molded Components and Moulds.
Exports :
Products :	Finished Goods
Countries :	Ø Thailand
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

20 (Approximately)

Bankers :

Bank of Baroda, 643/1-D, RKG Manor, Opposite Traffic Police Station, Bangalore Road, Hosur - 635109, Tamilnadu, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
From Banks
Indian Rupee term loans from Banks	1.700	0.000
Loans repayable on demand	1.296	0.184
Total	2.996	0.184

Banking Relations :	--
Auditors :
Name :	M K Rao and Company Chartered Accountants
Address :	A41/12, TNHB, Bagalur Road, Hosur – 635109, Tamilnadu, India
Tel. No.:	91-4344-244536/ 244753
Mobile No.:	91-9362310022
E-Mail :	mkrao.co@gmail.com
Income-tax PAN of auditor or auditor's firm :	ADKPK9483E
Sister Concern :	Prakash Plastic

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
800,000	Equity Shares	Rs. 10/- each	Rs. 8.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		8.000	1.200
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		3.596	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		11.596	1.200
LOAN FUNDS
1] Secured Loans		2.996	0.184
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		2.996	0.184
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		14.592	1.384
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		14.727	0.000
Capital work-in-progress		0.000	1.043
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.369	0.000
	Sundry Debtors	6.762	0.000
	Cash & Bank Balances	0.019	0.048
	Other Current Assets	0.157	0.175
	Loans & Advances	1.971	0.138
Total Current Assets		12.278	0.361
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.623	0.020
	Other Current Liabilities	1.320	0.000
	Provisions	1.470	0.000
Total Current Liabilities		12.413	0.020
Net Current Assets		(0.135)	0.341
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		14.592	1.384

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Revenue from operations	24.358
		Other Income	0.146
		TOTAL (A)	24.504
Less	EXPENSES
		Cost of material consumed	10.264
		Employee benefit expenses	1.171
		Other Expenses	6.462
		TOTAL (B)	17.897
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.607
Less	FINANCIAL EXPENSES (D)		0.167
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.440
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.375
	PROFIT BEFORE TAX (E-F) (G)		5.065
Less	TAX (H)		1.469
	PROFIT AFTER TAX (G-H) (I)		3.596
	IMPORTS
		Capital Goods	0.818
	Earnings Per Share (Rs.)		4.49

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011
PAT / Total Income	(%)	14.68	NA
Net Profit Margin (PBT/Sales)	(%)	20.79	NA
Return on Total Assets (PBT/Total Assets}	(%)	18.76	NA
Return on Investment (ROI) (PBT/Networth)		0.44	NA
Debt Equity Ratio (Total Debt/Networth)		0.26	0.15
Current Ratio (Current Asset/Current Liability)		0.99	18.05

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 one year	Yes
12]	Profitability for last one year	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

CORPORATE INFORMATION:

Subject was incorporated on 23.11.2010 as a private limited company with its registered office at Hosur. The company is engaged in the business of manufacturing Plastic Molded Components and Moulds.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25190TZ2010PTC016545
Name of the company	PRAKASH TECHNO PLAST INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-3, SIDCO Industrial Estate, Phase – I, Hosur – 635126, Tamilnadu, India Email: prakashplast@yahoo.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Others [Stock of Raw Material, Semi and Finished Goods]
Particular of charge holder	Bank of Baroda, 643/1-D, RKG Manor, Opposite Traffic Police Station, Bangalore Road, Hosur - 635109, Tamilnadu, India Email: ssihos@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Composite hypothecation agreement (for stock / book debts / vehicles / movable machinery)
Date of instrument Creating the charge	04.04.2012
Amount secured by the charge	Rs. 17.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit - At 3.25% above Base Rate i.e. 14.00% p.a.. Term Loan - At 3.25% above Base Rate i.e. 14.00% p.a.. at present with monthly rest subject to change in Base Rate / Credit Rating Terms of Repayment Term Loan: The Term Loan is to be repaid by 60 monthly installments after commencing after 6 month from the date of first disbursement. - Total 66 months including moratorium period of 6 months subject to annual review. Cash Credit : Cash Credit Limit is for a period of 12 months subject to annual review. Margin Cash Credit 25% of RM, SIP, FG, Stores and Spares and Packaging Materials and for Book Debts up to 90 days. Term Loan 32.14% for Machineries, Equipments and Installation etc., Extent and Operation of the charge Exclusive First Charge on the stock of Raw Materials, Stock in Process, Finished Goods and other current assets Exclusive First Charge on the Machinery Existing and New Machinery to be purchased by the company Exclusive First Charge on the Book Debts of the Company
Short particulars of the property charged	Stock of Raw Materials, Stock in Process, Finished Goods, Book Debts and Machinery etc lying at B-3 SIDCO Industrial Estate, Phase-I, Hosur Taluk, Krishnagiri District, PIN - 635 126,

FIXED ASSETS:

Ø Plant and Machinery

Ø Electrical Installation

Ø Office Equipments

Ø Computer and Accessories

Ø Moulds

Ø Vehicles

Ø Furniture and Fixture

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. 56.74
UK Pound	1	Rs. 88.53
Euro	1	Rs. 75.20

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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	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		31

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.