MIRA INFORM REPORT

Report Date :

11.03.2013

IDENTIFICATION DETAILS

Name :	MONARCH CATALYST PRIVATE LIMITED
Formerly Known As :
Registered Office :	A-94, MIDC, Phase I, Dombivli (East), Thane – 421 203, Maharashtra
Country :	India
Financials (as on) :
Date of Incorporation :	18.11.1983
Com. Reg. No.:	11-31365
Capital Investment / Paid-up Capital :	Rs. Millions
CIN No.: [Company Identification No.]	U24110MH1983PTC031365
IEC No.:
TAN No.: [Tax Deduction & Collection Account No.]	pnem06999g
PAN No.: [Permanent Account No.]
Legal Form :	Private Limited Liability Company
Line of Business :	manufacturer of Nickel Catalyst for oils and Oleo Chemicals
No. of Employees :	(Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. General financial position of the company is good 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.

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

EXTERNAL AGENCY RATING

Rating Agency Name

Rating

Rating Explanation

Date

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under :

Borrowers’ Name :

Address :

Name of Individual :

Name of Credit Grantors / Bank & Branch:

Amount (Rs. In Millions) :

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.

Subject’s name has been found enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :
Designation :
Contact No.:	91-
Date :

LOCATIONS

Registered Office :
Tel. No.:	91-
Mobile No.:	91-
Fax No.:	91-
E-Mail :
Website :
Area :
Location :
Head Office :
Tel. No.:
Fax No.:
E-Mail :
Area :
Location :
Corporate Office :
Tel. No.:
Fax No.:
E-Mail :
Area :
Location :
Factory 1 :
Tel. No.:
Fax No.:
E-Mail :
Area :
Location :
Factory 2 :
Tel. No.:
Fax No.:
E-Mail :
Area :
Location :
Branches :
Tel. No.:
Fax No.:
E-Mail :
Area :
Location :

SOLE PROPRIETOR/PARTNERS/DIRECTORS

AS ON

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

PAN No.:

Passport No.:

Voter ID No.:

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

PAN No.:

Passport No.:

Voter ID No.:

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

PAN No.:

Passport No.:

Voter ID No.:

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

PAN No.:

Passport No.:

Voter ID No.:

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

PAN No.:

Passport No.:

Voter ID No.:

KEY EXECUTIVES

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

Name :

Designation :

Address :

Date of Birth/Age :

Qualification :

Experience :

Date of Appointment :

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON

Names of Shareholders

No. of Shares

Names of Shareholders	No. of Shares
Shantilal H Vadalia Rekha S Vadalia Hemani S Vadalia	97750
Rekha S Vadalia Shantilal H Vadalia Hemani S Vadalia	2290
Shantilal H Vadalia HUF	10
Vasantha Muthukumar Krishnan M Vinod M	6760
Krishnan M Vasantha M Vinod M	1500
Shri. Vinod M Smt. Vasantha M Shri. Krishnan M	9700
Shri Krishnan M. Smt. Reshma Krishnan Smt. Vasantha M.	18700
Smt. Reshma Krishnan Shri Krishnan M. Smt. Vasantha M.	2090
Smt. Jasumati C. Vadalia Shri Hitesh C. Vadalia Kum Sneha C Vadalia	2000
Shri Hitesh C Vadalia Smt Rupal H Vadalia	42330
Smt. Rupal H Vadalia Shri Hitesh C Vadalia	21200
Shri Chimanlal H Vadalia HUF	10
Shri Hitesh C Vadalia HUF	10
Shri K Shivsubramanian Smt. Geeta S. Shri Vinod M.	14400
Shri. K. Shivsubramanian Smt. Geeta S Smt.Reshma Krishnan	40500
Shri. K. Shivsubramanian Smt. Geeta S Shri Krishnan M	6500
Smt. Geeta Shivsubramanian Shri K Shivsubramanuian Shri Krishnan M.	2100
Smt. Jasumati C. Vadalia Shri Hitesh C Vadalia	34500
Shri Krishnan Muthukumar Smt. Reshma Krishnan	58050
Smt. Reshma Krishnan Shri Krishnan M.	3250
Shri K Shivsubramanian Smt. Geeta S Rashi Muthukumar	36550
Mr. Shridhar Iyer	14500
Mr. Sundar Iyer Mrs.Vanaja Sunder Iyer	12083
Mr. Siddharth Iyer Mr. Sunder Iyer	2417
Renaissance Asset Management Company Pvt Ltd	75400
Revathi Equipment Limited	75488
Total	580088

AS ON 30.09.2012

Category	Percentage
Bodies corporate	26.00
Directors or relatives of Directors	74.00
Total	100.00

BUSINESS DETAILS

Line of Business :
Products :
Brand Names :
Agencies Held :
Exports :
Products :
Countries :
Imports :
Products :
Countries :
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

GENERAL INFORMATION

Suppliers :

Customers :

No. of Employees :

(Approximately)

Bankers :

· Standard Chartered Bank

Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra, Mumbai – 400 051, Maharashtra, India

· Standard Chartered Bank

90, M G Road, Fort, Mumbai-400001, Maharashtra, India

· State bank of India

MID Corporate Loan admin Unit Shri Hari Building, RTO Lane, Four Bungalows, Andheri (West), Mumbai – 400 053, Maharashtra

· India Bank

Matunga Bazar Branch, Mumbai, Maharashtra, India

· ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Yes Bank Limited

9th Floor, Nehru Centre, Discovery Of India,, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India

· Barclays Bank Plc

601/603, Ceejay House, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

Facilities :

SECURED LOAN	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
TOTAL
UNSECURED LOAN	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
TOTAL

Banking Relations :
Auditors :
Name :	Chartered Accountant
Address :
Tel. No.:
Mobile No.:
Fax No.:
E-Mail :
Memberships :
Collaborators :
Associates/Subsidiaries :

CAPITAL STRUCTURE

AS ON

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

Capital Investment :
Owned :	Rs. Millions
Borrowed :
Total :	Rs. Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2012	31.03.2011	31.03.2010
Sales Turnover
Profit/Loss for the year
Export Value
Import Value

Expected Sales (2012-2013) : Rs.

The above information has been parted by ___________________________.

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital
2] Share Application Money
3] Reserves & Surplus
4] (Accumulated Losses)
NETWORTH
LOAN FUNDS
1] Secured Loans
2] Unsecured Loans
TOTAL BORROWING
DEFERRED TAX LIABILITIES
TOTAL
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]
Capital work-in-progress
INVESTMENT
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories
	Sundry Debtors
	Cash & Bank Balances
	Other Current Assets
	Loans & Advances
Total Current Assets
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities
	Provisions
Total Current Liabilities
Net Current Assets
MISCELLANEOUS EXPENSES
TOTAL

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)
Less	FINANCIAL EXPENSES (D)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)
Less/ Add	DEPRECIATION/ AMORTISATION (F)
	PROFIT BEFORE TAX (E-F) (G)
Less	TAX (I)
	PROFIT AFTER TAX (G-I) (J)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD
Less	APPROPRIATIONS
		Transfer to General Reserve
		Dividend
		Tax on Dividend
	BALANCE CARRIED TO THE B/S
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings
		Commission Earnings
		Other Earnings
	TOTAL EARNINGS
	IMPORTS
		Raw Materials
		Stores & Spares
		Capital Goods
		Others
	TOTAL IMPORTS
	Earnings Per Share (Rs.)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)
Net Profit Margin (PBT/Sales)	(%)
Return on Total Assets (PBT/Total Assets}	(%)
Return on Investment (ROI) (PBT/Networth)
Debt Equity Ratio (Total Liability/Networth)
Current Ratio (Current Asset/Current Liability)

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	No
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 involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	No
27]	Financials, if provided	No
28]	Incorporation details, if applicable	----------------------
29]	Last accounts filed at ROC	----------------------
30]	Major Shareholders, if available	----------------------
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company
Name of the company
Address of the registered office or of the principal place of business in India of the company
This form is for
Charge identification (ID) number of the charge to be modified
Type of charge
Particular of charge holder
Nature of instrument creating charge
Date of instrument Creating the charge
Amount secured by the charge
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Terms of Repayment Margin Extent and Operation of the charge Others
Short particulars of the property or asset(s) charged (including complete address and location of the property)
Date of instrument modifying the charge
Particulars of the present modification

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 records 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.54.40
UK Pound	1	Rs.81.56
Euro	1	Rs.71.23

INFORMATION DETAILS

Information Gathered by :
Report Prepared by :	NLM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10
PAID-UP CAPITAL	1~10
OPERATING SCALE	1~10
FINANCIAL CONDITION
--BUSINESS SCALE	1~10
--PROFITABILIRY	1~10
--LIQUIDITY	1~10
--LEVERAGE	1~10
--RESERVES	1~10
--CREDIT LINES	1~10
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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

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.