MIRA INFORM REPORT

Report Date :

04.03.2013

IDENTIFICATION DETAILS

Name :	UNIVERSAL CORPORATION LIMITED
Registered Office :	234, FIE, Patparganj Industrial Area, Patparganj, Delhi – 110092
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.02.2000
Com. Reg. No.:	55-103817
Capital Investment / Paid-up Capital :	Rs.26.904 Millions
CIN No.: [Company Identification No.]	U74899DL2000PLC103817
TAN No.: [Tax Deduction & Collection Account No.]	DELU01700G
PAN No.: [Permanent Account No.]	AAACU3756A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader of FMCG Products. (Fast Moving Consumer Goods)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 1300000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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.

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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 :	234, FIE, Patparganj Industrial Area, Patparganj, Delhi – 110092, India
Tel. No.:	91-11-45142949
Mobile No.:	91-9331062120 (Mr. Nitin Agarwal)
Fax No.:	Not Available
E-Mail :	manojsinghee@gmail.com
Website :	http://www.uclindia.in
Corporate Office :	4/1, Sikkim Commerce House, Middleton Street, Kolkata – 700071, West Bengal, India
Tel. No :	91-33-22807067/ 30587068
Fax No.:	91-33-22879151
Email :	info@uclindia.com
Regional Offices :	Located at: · Delhi -NCR · Ludhiana · Chandigarh · Ahmadabad · Indore · Mumbai · Pune · Cochin · Bangalore · Chennai · Bhubaneswar · Guwahati

DIRECTORS

(AS ON 29.09.2012)

Name :	Mr. Nitin Agarwal
Designation :	Whole-time Director
Address :	92/93, Nalini Rahjan, Avenue Block-B, New Alipore, Kolkata-700053, West Bengal, India
Date of Birth/Age :	07.09.1977
Date of Appointment :	11.04.2000
PAN No.:	ACSPA4975G
DIN No :	00034408
Name :	Mr. Nilesh Agarwal
Designation :	Whole-time Director
Address :	92/93, Nalini Rahjan, Avenue Block-B, New Alipore, Kolkata-700053, West Bengal, India
Date of Birth/Age :	22.06.1980
Date of Appointment :	30.07.2003
PAN No.:	AFXPA6706K
DIN No :	00066781
Name :	Mr. Nishant Agarwal
Designation :	Whole-time Director
Address :	92/93, Nalini Rahjan, Avenue Block-B, New Alipore, Kolkata-700053, West Bengal, India
Date of Birth/Age :	07.08.1978
Date of Appointment :	31.12.2002
PAN No.:	ACLPA0161D
DIN No :	00284750

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2012)

Names of Shareholders	No. of Shares
Dayanand Agarwal	1000
Nitin Agarwal	3040
Navin Agarwal	7300
Nitesh Agarwal	7700
Nishant Agarwal	28000
Rakhi Agarwal	7200
Satyabhama Agarwal	7200
Pathik Agencies Limited, India	484000
Anuradha Agarwal	12300
Dayanand Agarwal and Sons HUF	56000
Asian Housing and Infrastructure Private Limited, India	9000
Adyamma Tracom Private Limited, India	66500
Lace Properties Private Limited, India	491500
Bahuk Tradecom Private Limited, India	705500
Headway Exim Private Limited, India	75000
Wisdom Dealers Private Limited, India	40000
Snowdrop Tieup Private Limited, India	28500
Goel Anuj	44125
Avaneesh Commotrade Private Limited, India	616500
Total	2690365

(AS ON 29.09.2012)

Equity Shares Break – up

Category	Percentage
Bodies corporate	93.54
Directors or relatives of directors	4.82
Other top fifty shareholders	1.64
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of FMCG Products. (Fast Moving Consumer Goods)

Products :

Products Description	Item Code No.
Cosmetics	33049990
Shaving Products	33071010
Biscuits	19059030

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Union Bank of India

Arya Samaj Road, Karol Bagh, New Delhi-110005, India

· ING Vysya Bank Limited

Middleton Street 4/1, Middleton Street, Kolkata-700071, West Bengal, India

· ICICI Bank Limited

· State Bank of India

· Oriental Bank of Commerce

· State Bank of Travancore

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term Loan from a Bank	2.348	2.370
Term Loan from a Body Corporate	0.810	1.174
Cash / Buyer's Credit and Working Capital	167.643	135.675
Total	170.801	139.219
NOTE: Term Loan from a Bank is secured against first exclusive charge in respect of property financed. Term loan from a body corporate is secured against hypothecation of vehicles financed. The loans are repayable in equated monthly installments of Rs 33,482 and Rs 40,925 respectively. The Cash Credit Limit/ WCDL are secured by first exclusive charge on the current assets (including stocks and book debts), both present and future, and additionally secured by Equitable Mortgage by deposit of title deeds in respect of properties (office space, land, factory premises) owned by third parties and other bodies corporate. These facilities are further guaranteed by all the Directors and others. The Buyers' Credit is secured by FGBC (Financial Guarantee for Buyer's Credit) which is in turn secured by the same set of securities and guarantees as are available for Cash Credit/ WCDL.

Banking Relations :	--
Auditors :
Name :	K. L. Singhee and Company Chartered Accountants
Address :	15, India Exchange Place, Kolkata-700001, West Bengal, India
PAN No :	AACFK6449H
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Headway Exim Private Limited CIN No.: U52324WB2007PTC112486 · Amazon Distributors Private Limited CIN No.: U51909KA2006PTC040695 · WIsdom Dealers Private Limited CIN No.: U51109WB1995PTC069154

CAPITAL STRUCTURE

(AS ON 31.03.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2690365	Equity Shares	Rs.10/- each	Rs.26.904 Millions

NOTE:

The Company has only one class of shares referred to as equity shares having a par value of Rs 10/-.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

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		26.904	17.922	14.642
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		300.644	189.827	149.190
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		327.548	207.749	163.832
LOAN FUNDS
1] Secured Loans		170.801	139.219	105.679
2] Unsecured Loans		111.855	58.222	88.948
TOTAL BORROWING		282.656	197.441	194.627
DEFERRED TAX LIABILITIES		0.565	0.798	0.887
TOTAL		610.769	405.988	359.346
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.010	28.587	32.389
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		7.657	7.657	7.656
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	293.965	205.624	228.615
	Sundry Debtors	166.300	111.682	91.812
	Cash & Bank Balances	36.846	8.484	11.772
	Other Current Assets	0.000	0.000	0.795
	Loans & Advances	153.751	108.875	61.582
Total Current Assets		650.862	434.665	394.576
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	19.018	21.393	20.170
	Other Current Liabilities	49.542	37.728	48.865
	Provisions	6.200	5.800	6.240
Total Current Liabilities		74.760	64.921	75.275
Net Current Assets		576.102	369.744	319.301
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		610.769	405.988	359.346

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1893.993	1856.778	1409.906
		Other Income	1.485	0.120	0.097
		TOTAL (A)	1895.478	1856.898	1410.003
Less	EXPENSES
		Purchases of stock-in-trade	1734.509	1581.985
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(88.341)	22.991	1381.118
		Employee benefit expense	65.994	67.176
		Other expenses	147.038	144.203
		TOTAL (B)	1859.200	1816.355	1381.118
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		36.278	40.543	28.885
Less	FINANCIAL EXPENSES (D)		13.703	17.840	12.868
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.575	22.703	16.017
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.618	6.080	3.717
	PROFIT BEFORE TAX (E-F) (G)		17.957	16.623	12.300
Less	TAX (H)		5.934	5.505	4.264
	PROFIT AFTER TAX (G-H) (I)		12.023	11.118	8.036
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		33.145	22.027	13.991
	BALANCE CARRIED TO THE B/S		45.168	33.145	22.027
	EARNINGS IN FOREIGN CURRENCY
		Export of Trading Goods	0.820	0.000	NA
	TOTAL EARNINGS		0.820	0.000	NA
	IMPORTS
		Trading Goods	1393.572	1239.765	971.171
	TOTAL IMPORTS		1393.572	1239.765	971.171
	Earnings Per Share (Rs.)		6.43	7.59	7.07

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.63	0.60	0.57
Net Profit Margin (PBT/Sales)	(%)	0.95	0.90	0.87
Return on Total Assets (PBT/Total Assets}	(%)	2.65	3.59	2.88
Return on Investment (ROI) (PBT/Networth)		0.05	0.08	0.08
Debt Equity Ratio (Total Debt/Networth)		0.86	0.95	1.19
Current Ratio (Current Asset/Current Liability)		8.71	6.70	5.24

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	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 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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS

Particulars	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans and Advances from Related Parties
- From Bodies Corporate Other Loans & Advances	1.884	1.591
- From Bodies Corporate	109.971	56.631
Total	111.855	58.222

NOTE:

The registered office of the company has been shifted from, Jeevan Tara Building, 1^st Floor, Gate No.3, 5 Parliament Street, New Delhi – 110001, India, to the present address w.e.f. 09.12.2009.

CONTINGENT LIABILITIES AND COMMITMENTS TO THE EXTENT NOT PROVIDED FOR

a) Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs.6.433 Millions (net of advances) (Previous year Rs 6.433 Millions).

b) Corporate Guarantee given by the Company to a bank on behalf of Bhadrashree Steel and Power Limited for Rs.228.060 Millions. The Company has also provided security to the bank, in the form of EMTD of four flats at Chennai.

(c) Guarantees given by Bank, counter guaranteed by the company, aggregate to Rs.46.300 Millions (Previous year Rs.0.100 Million) against which Fixed Deposit Receipts of Rs.24.074 Millions (Previous year Rs.0.133 Million) are held by the Banker as margin. Further, Letters of Credit issued by the bank and outstanding at the year-end amount to Rs.28.342 Millions.

FIXED ASSETS:

· Land

· Office Building

· Furniture and Fixtures

· Motor Vehicles

· Computers Equipments

· Other Equipments

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

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.