MIRA INFORM REPORT

Report Date :

04.03.2013

IDENTIFICATION DETAILS

Name :	TEMPLE PACKAGING PRIVATE LIMITED
Registered Office :	E-111, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai – 400 072, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.06.1994
Com. Reg. No.:	11-079298
Capital Investment / Paid-up Capital :	Rs.72.073 Millions
CIN No.: [Company Identification No.]	U28129MH1994PTC079298
TAN No.: [Tax Deduction & Collection Account No.]	MUMT10863G
PAN No.: [Permanent Account No.]	AAACT9039P
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer of Packaging Materials, Cartons, Lables, Leaflets and Publicity Materials.
No. of Employees :	Information declined by management.

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 200000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual 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.

INFORMATION DECLINED BY

Name :	Mr. Pankaj Gor
Designation :	Accounts Head
Contact No.:	91-9322987821
Date :	03.05.2012

LOCATIONS

Registered Office :	E-111, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai – 400 072, Maharashtra, India
Tel. No.:	91-22-28476221 / 28523282 / 28470490 / 28573461 / 28573451 / 28470282 28475720 / 33857000
Mobile No.:	91-9322987821 (Mr. Pankaj Gor)
Fax No.:	91-22-66924952 / 28522501 / 28474501
E-Mail :	temple@bom2.vsnl.net.in temple@bom4.vsnl.net.in pankaj.gor@templepackaging.co.in info@templepackaging.co.in pranav.joshi@templepackaging.co.in sangeeta.kotian@templepackaging.co.in vidya.kadam@templepackaging.co.in archana.naik@templepackaging.co.in
Area :	3000 sq. ft
Location :	Rented and owned
Press :	C-14, C-16, C-114, D-103 and C-118, Ansa Industrial Estate, Saki Vihar Road, Mumbai – 400 072, Maharashtra
Factory 1 :	C-16/14, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Mumbai – 400072, Maharashtra, India.
Tel. No.:	91-22-28473599
Area :	25000 sq.fts
Location :	Rented and owned
Factory 2 / Servicing Unit 1:	Survey No.171/3 and 171/1, Behind Olive Health Care, Hatiyawad Village Dabhel, Nani Daman – 396210, India
Tel No.:	91-260-2243472 / 2243670 / 2241096 / 2241097 / 3207876 / 3207877 / 3207878 / 3927100 / 2241782 / 2241783 / 2241784 / 2241785 / 2241788
Fax No.:	91-260-2241618 / 2241781
E-mail:	vimal.joshi@templepackaging.co.in
Area:	8361 Sq. Mtrs (Manufacturing) 4180 Sq. Mtrs (Servicing Unit)
Factory 3 / Servicing Unit 2:	Khasra No.1319/1, 1319/2, Hill Top Industrial Estate, Jhar Majri, Baddi, Tehsil Nalagarh, District Solan, P.O. Barotiwala - 174103, Himachal Pradesh, India
Tel No.:	91-1795-271835 / 271837 / 323400 / 323137
Fax No.:	91-1795-271838
Area:	3716 Sq. Mtrs (Manufacturing) 1579 Sq. Mtrs (Servicing Unit)

DIRECTORS

As on 30.09.2011

Name :	Mr. Pranav Vinod Joshi
Designation :	Director
Address :	A-6, Paradise, S V Road, Andheri (West), Mumbai – 400058, Maharashtra, India
Date of Birth/Age :	22.07.1958
Qualification :	B.Com
Date of Appointment :	29.06.1994
DIN No.:	00355718
Name :	Mr. Vimal Vinod Joshi
Designation :	Director
Address :	26, Yeshomangal, Lallubhai S. Road, Andheri (West), Mumbai – 400 058, Maharashtra
Date of Birth/Age :	27.01.1961
Qualification :	B.Com and Diploma in Printing
Date of Appointment :	29.06.1994
DIN No.:	01564494

KEY EXECUTIVES

Name :	Mr. Pankaj Gor
Designation :	Accounts Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders (Equity Shares)	No. of Shares
Pranav Joshi	40135
Vimal Joshi	40135
Temple Printed Cartons Private Limited, India	1315
Total	81585

Names of Shareholders (Preference Shares)	No. of Shares
Safal Resorts Private Limited	10000
Alken Management and Financial Services Private Limited	15000
Komal Commercial Limited	7150
Abhilasha Money Opreations Private Limited	10000
Lexus Infotech Limited	5000
Talent Infoway Limited	55000
Alliance Intermediateries and Network Private Limited	15000
Tac Technosoft Private Limited	30000
Hot N Ice	5000
Irisman Steel Private Limited	10000
Shalimar Bansal Realtors Private Limited	10000
Clifton Securities Private Limited	25000
Temple Printed Cartoon Private Limited	442000
Total	639150

As On 30.09.2011

Equity Share Break-up	Percentage of Holding
Directors or relatives of the Directors	100.00
	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Packaging Materials, Cartons, Lables, Leaflets and Publicity Materials.

Products :

Product Description	Item Code No.
Printed cartons	48192090
Printed Litreature	49011020

· Outserts

· Inserts

· Medication Guides

· Doctor’s Sampling Covers

· Labels

· Tags

GENERAL INFORMATION

No. of Employees :

Information declined by management.

Bankers :

· Axis Bank, Pathancher Hyderabad

· ICICI Bank, Andheri (West) Branch

· Bank of Baroda, Daman

· The Saraswat Co-operative Bank Limited, SME Vile Parle Branch, Bholanath Co-operative Housing Society, Subhash Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India

· The Saraswat Co-operative Bank Limited, Juhu Beach, Madhusagar, N. S. Road No. 13, Near Juhu Church, Mumbai 400049, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2011 [Rs. In Millions]	31.03.2010 [Rs. In Millions]
Rupee term loans banks secured	252.244	212.680
Rupee term loans financial institutions secured	41.250	0.000
Rupee term loans others secured	(A) 1.364	(B) 10.994
Other external commercial borrowings secured	68.544	0.000
Loans taken for vehicles secured	5.941	4.913
Loans taken for other fixed assets secured	129.424	163.334
Total	498.767	391.921

Notes:

(A) Suppliers Credit against Capital Goods

(B) Suppliers Credit against Capital Goods

Banking Relations :	--
Auditors :
Name :	Ranawat Soni and Company Chartered Accountants
Address :	107-B, Sagar Shopping Centre, 76, J. P. Road, Andheri (West), Mumbai 400058, Maharashtra, India
Tel. No.:	91-22-26773676
Fax No.:	91-22-26775507 / 26775956
Pan No.:	AAAFR4844B
Related Parties:	· Temple Printed Cartons Private Limited · Sungold Packaging Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs.30.000 Millions
800000	Preference Shares	Rs.100/- each	Rs.80.000 Millions
	Total		Rs.110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
81585	Equity Shares	Rs.100/- each	Rs.8.158 Millions
639150	Preference Shares	Rs.100/- each	Rs.63.915 Millions
	Total		Rs.72.073 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		72.073	53.673	27.874
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		425.874	254.962	175.709
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		497.947	308.635	203.583
LOAN FUNDS
1] Secured Loans		498.767	391.921	323.630
2] Unsecured Loans		0.000	0.000	3.903
TOTAL BORROWING		498.767	391.921	327.533
DEFERRED TAX LIABILITIES		31.560	25.926	18.860
TOTAL		1028.274	726.482	549.976
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		795.490	604.997	447.284
Capital work-in-progress		69.881	18.695	0.000
INVESTMENT		0.025	0.025	0.025
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	55.723	48.914	43.800
	Sundry Debtors	265.466	151.472	136.632
	Cash & Bank Balances	57.068	47.401	15.132
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	52.711	51.421	29.682
Total Current Assets		430.968	299.208	225.246
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	93.068	126.211	108.955
	Other Current Liabilities	80.879	31.001	0.000
	Provisions	94.143	39.231	13.624
Total Current Liabilities		268.090	196.443	122.579
Net Current Assets		162.878	102.765	102.667
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1028.274	726.482	549.976

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1303.003	873.043	697.602
		Other Income	8.159	4.642	6.181
		TOTAL (A)	1311.162	877.685	703.783
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	913.116 (Including Financial Expenses)	658.107 (Including Financial Expenses)	505.576
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				198.207
Less	FINANCIAL EXPENSES (D)				57.336
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		398.046	219.578	140.871
Less/ Add	DEPRECIATION/ AMORTISATION (F)		125.779	84.773	78.069
	PROFIT BEFORE TAX (E-F) (G)		272.267	134.805	62.802
Less	TAX (H)		101.355	55.553	12.342
	PROFIT AFTER TAX (G-H) (I)		170.912	79.252	50.460
	IMPORTS
		Raw Materials	133.778	38.810	NA
		Stores & Spares	4.212	7.227	NA
		Capital Goods	266.944	191.461	NA
	TOTAL IMPORTS		404.934	237.498	NA
	Earnings Per Share (Rs.)		237.14	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	13.04	9.03	7.17
Net Profit Margin (PBT/Sales)	(%)	20.90	15.44	9.00
Return on Total Assets (PBT/Total Assets}	(%)	22.20	14.91	9.34
Return on Investment (ROI) (PBT/Networth)		0.55	0.44	0.31
Debt Equity Ratio (Total Liability/Networth)		1.54	1.91	2.21
Current Ratio (Current Asset/Current Liability)		1.61	1.52	1.84

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditors Details

(Rs. In Millions)

Particular	31.03.2011	31.03.2010	31.03.2009
Sundry creditors
- Due Others	93.068	126.211	108.955

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	Yes
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 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	Yes
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	--
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

Operation / Performance

The turnover during the year 2010-11 increased to Rs 1303.003 Millions from Rs 873.042 Millions in the previous year. The Gross Profit after interest but before Depreciation and tax for this year is Rs 398.046 Millions

Future Prospects

Operating during the current year are satisfactory and working results are expected to be encouraging.

Share Capital:

A) Pursuant to the approval of shareholder in an Extra Ordinary General Meeting (EGM) held on Of the Company has been increased from Rs.80.000 Millions (divided Into 2,00,000 equity share of Rs. 100 each and 6,00,000, 1% Convertible Preference share of Rs. 100 each) to Rs. 110.000 Millions Divided into 3,00,000 equity share of Rs. 100 each and 8,00,000 1% Convertible Preference share of Rs. 100 each).

B) The Paid up Capital includes 11,000 Equity Shares of Rs. 100/- each Allotted as fully paid up pursuant to assignment, without payment being received in cash.

C) The Company has issued 639150 1 % convertible Preference Shares of Rs.100 each with a option to convert

D) The Company has allotted 442000 1% convertible preference shares to the Company under the same Management.

Bankers Charges Report as per Registry

Corporate identity number of the company	U28129MH1994PTC079298
Name of the company	TEMPLE PACKAGING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E-111, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai – 400 072, Maharashtra, India E-mail : pankaj.gor@templepackaging.co.in
This form is for	Creation of charges
Type of charge	Movable property
Particular of charge holder	The Saraswat Co-operative Bank Limited, SME Vile Parle Branch, Bholanath Co-operative Housing Society, Subhash Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India E-Mail: s_sukhtankar@saraswatbank.com
Nature of instrument creating charge	Agreement of hypothecation of movable property
Date of instrument Creating the charge	30/03/2012
Amount secured by the charge	Rs.725.200 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest 14.5%p.a. or at such rate as may be determined by the bank from time to time Terms of repayment On demand or by 28 February 2017 if the same is not demanded earlier Margin 10% Extent and operation of the charge This is collateral security
Short particular of the property or asset(s) charged	Hypothecation of machinery tangible movable property (both present and future) belonging to the borrower and lying and being at the borrowers place of business at Survey no 171/3 and 171/7 behind Olive Healthcare Hatlyavad Village Dabhel Nani Daman or KH no 1319/1 and 1319/2, P O Baddi Village, Village Bhatoli Kalan Tehsil Nalagarah Dist Solan, Himachal Pradesh, or Plot no 286/E Phase III, I Pashamylaram Isnapur Village Patancheru MDL Medak District Andhra Pradesh 502307 or whereverelse the same maybe.

FIXED ASSETS:

· Land,

· Factory and Building,

· Plant ad Machinery,

· Patents- Vijuk,

· Forklift,

· Two Wheelers,

· Four Wheelers,

· Three Wheelers,

· Six Wheelers,

· Furniture and Fixtures,

· Computers,

· Motor Cars,

· Factory Equipment,

· Office Equipment And

· Six Wheelers

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 records 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.54.48
UK Pound	1	Rs.82.72
Euro	1	Rs.71.27

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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
TOTAL		49

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.