MIRA INFORM REPORT

Report Date :

20.03.2013

IDENTIFICATION DETAILS

Name :	SWANPACK PACKAGING MACHINES PRIVATE LIMITED
Registered Office :	Plot No.12, Phase-IV, IDA, Cherlapally, Hyderabad – 500051, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.09.2007
Com. Reg. No.:	01-055432
Capital Investment / Paid-up Capital :	Rs.0.300 Million
CIN No.: [Company Identification No.]	U74999AP2007PTC055432
TAN No.: [Tax Deduction & Collection Account No.]	HYDS20843E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture, Exporter and Importer of Bottle Filling Machines.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 4400
Status :	Small Company
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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.

INFORMATION PARTED BY (General Details)

Name :	Mr. C N Jyoti Prasad
Designation :	Director
Contact No.:	91-9490118758
Date :	01.03.2013

LOCATIONS

Registered Office/ Factory :	Plot No.12, Phase-IV, IDA, Cherlapally, Hyderabad – 500051, Andhra Pradesh, India
Tel. No.:	91-40-20082851/ 32552851
Mobile No.:	91-9490118758 (Mr. C N Jyoti Prasad)
Fax No.:	91-40-20082851/ 27132851
E-Mail :	info@swanpack.com pri_prasad@yahoo.com
Website :	www.swanpack.com
Area :	3000 sq. ft.
Location :	Owned

DIRECTORS

(AS ON 29.09.2012)

Name :

Mr. Pola Ramalingeshwara Prasad

Designation :

Director

Address :

11-71, Pragathi Nagar Colony, P and T Colony, Dilsukh Nagar, Hyderabad – 500060, Andhra Pradesh, India

Date of Birth/Age :

18.10.1968

Qualification :

MBA and Finance

Date of Appointment :

06.09.2007

DIN No.:

01735173

Other Directorships :

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	U74999AP2007PTC055432	SWANPACK PACKAGING MACHINES PRIVATE LIMITED	Director	06/09/2007	06/09/2007	Active	NO
2	U29253AP2012PTC084852	FOURSWAN FILTEC PRIVATE LIMITED	Director	17/12/2012	17/12/2012	Active	NO

Name :

Mr. Chippala Turutu Narsing Rao Jyoti Prasad

Designation :

Director

Address :

1-3-183/40/57, SBI Colony, New Bakaram, Gandhinagar, Hyderabad – 500080, Andhra Pradesh, India

Date of Birth/Age :

22.10.1976

Qualification :

MBA

Date of Appointment :

06.09.2007

DIN No.:

01735062

Other Directorships :

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	U74999AP2007PTC055432	SWANPACK PACKAGING MACHINES PRIVATE LIMITED	Director	06/09/2007	06/09/2007	Active	NO
2	U29253AP2012PTC084852	FOURSWAN FILTEC PRIVATE LIMITED	Director	17/12/2012	17/12/2012	Active	NO

Name :

Mr. Pyla Venkata Ramana

Designation :

Director

Address :

H No.10-28/22, Plot No.5, Nagarjuna Nagar Colony, Kushaiguda, Hyderabad – 500062, Andhra Pradesh, India

Date of Birth/Age :

05.09.1978

Qualification :

BE Mechanical

Date of Appointment :

15.10.2007

DIN No.:

01819420

Name :

Mr. Arnie Rajagopal Amarnath

Designation :

Director

Address :

Flat No.G-5, Chellas Heritage Apartments, Shashank Enclave, Near Krishna Theatre, Nagaram, Rangareddy – 500083, Andhra Pradesh, India

Date of Birth/Age :

22.05.1982

Date of Appointment :

11.02.2013

DIN No.:

06405639

Name :

Mr. Ayyagari Kameshwar Rao

Designation :

Director

Address :

Plot No.39, Flat #204, 3^rd Floor, Rama Ratnadri Nilayam, New Maruthi Nagar, Hyderabad – 500060, Andhra Pradesh, India

Date of Birth/Age :

04.01.1964

Date of Appointment :

11.02.2013

DIN No.:

06405635

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2012)

Names of Shareholders	No. of Shares
Chippala Turutu Narsing Rao Jyoti Prasad	6000
Pola Ramalingeshwara Prasad	6000
Pyla Venkata Ramana	6000
Ayyagari Kameswara Rao	6000
Arnie Rajgopal Amarnath	6000
Total	30000

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture, Exporter and Importer of Bottle Filling Machines.
Exports :
Products :	Finished Goods
Countries :	· Gulf Countries · Africa
Imports :
Products :	Raw Materials
Countries :	· Italy · Japan · Germany
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Mitsubishi India

Customers :

Wholesalers and Retailers

· Godrej Industries

No. of Employees :

50 (Approximately)

Bankers :

· HDFC Bank

Branch Sainik Puri, Hyderabad, Andhra Pradesh, India

Contact No.: 91-40-27133749

· HDFC Bank,

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

· Kotak Mahindra Bank

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Rupee Term Loan from Banks - Kotak Mahindra Bank	0.653	0.000
- Current Maturities of Long Term Loans	0.324	0.000
- Overdraft from HDFC Bank	0.801	0.000
Total	1.778	0.000

Banking Relations :	--
Auditors :
Name :	Umesh and Krishna Chartered Accountant
Address :	205, 2^nd Floor, Lingapur House, Amrutha Estates, Hyderabad – 500002, Andhra Pradesh, India
PAN No.:	AAFU4355N

CAPITAL STRUCTURE

(AS ON 31.03.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 Million

NOTE

a. The Company has only one class of shares referred to as equity shares having a par value of Rs.10/-. Each holder of equity shares is entitled to one vote per share.

b. 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		0.300	0.300	0.300
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.801	0.483	0.093
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.101	0.783	0.393
LOAN FUNDS
1] Secured Loans		1.778	0.000	0.000
2] Unsecured Loans		3.000	3.000	1.242
TOTAL BORROWING		4.778	3.000	1.242
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		5.879	3.783	1.635
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.536	0.453	0.412
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.250	6.100	2.000
	Sundry Debtors	3.360	1.340	1.047
	Cash & Bank Balances	0.312	1.706	0.642
	Other Current Assets	0.018	0.021	0.251
	Loans & Advances	1.151	0.958	0.440
Total Current Assets		12.091	10.125	4.380
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2.832	0.938	1.133
	Other Current Liabilities	3.764	5.760	2.019
	Provisions	0.152	0.097	0.030
Total Current Liabilities		6.748	6.795	3.182
Net Current Assets		5.343	3.330	1.198
MISCELLANEOUS EXPENSES		0.000	0.000	0.025
TOTAL		5.879	3.783	1.635

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	28.292	17.005	10.027
		Other Income	0.553	0.000	NA
		TOTAL (A)	28.845	17.005	NA
Less	EXPENSES
		TOTAL (B)	27.823	16.372	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.569	0.633	0.277
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.569	0.633	0.277
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.100	0.146	0.071
	PROFIT BEFORE TAX (E-F) (G)		0.469	0.487	0.206
Less	TAX (H)		0.152	0.097	NA
	PROFIT AFTER TAX (G-H) (I)		0.317	0.390	NA
	Earnings Per Share (Rs.)		10.57	--	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.10	2.29	NA
Net Profit Margin (PBT/Sales)	(%)	1.66	2.86	2.05
Return on Total Assets (PBT/Total Assets}	(%)	3.71	4.60	4.30
Return on Investment (ROI) (PBT/Networth)		0.43	0.62	0.52
Debt Equity Ratio (Total Debt/Networth)		4.34	3.83	3.16
Current Ratio (Current Asset/Current Liability)		1.79	1.49	1.38

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	Yes
8]	No. of employees	Yes
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	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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

UNSECURED LOANS

Particulars	31.03.2012	31.03.2011
	(Rs. In Millions)
Rupee Loans
- From Shareholders and Directors	3.000	3.000
Total	3.000	3.000

NOTE:

The registered office address of the company has been shifted from Plot No.46/A, Phase IV, IDA, Cherlapally, Hyderabad – 500051, Andhra Pradesh, India to the present address w.e.f.27.01.2010.

GENERAL VIEW

The Company’s performance was satisfactory during the year. The company could improve its results over the previous financial year. The Directors are hopeful that the company shall be able to achieve far better results in the years to come. The future of the company seems to be bright.

TRADE REFERENCE

· Mitsubishi India

· Godrej Industries

FIXED ASSETS:

· Generator

· Air Conditioner

· Electrical and Fittings

· Plant and Machinery

· Computer/ Printer/ Scanner

· C C Camera

· Furniture and Fixtures

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.54.29
UK Pound	1	Rs.81.94
Euro	1	Rs.70.02

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	NIT

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	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.