MIRA INFORM REPORT

Report Date :

07.05.2013

IDENTIFICATION DETAILS

Name :	JOSTARS ORGOTECH PRIVATE LIMITED
Registered Office :	A 501-502, Innova Marathon Next Gen, Off Ganpatrao Kadam Marg, Lower Parel, Mumbai – 40013, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.10.1991
Com. Reg. No.:	063529
Capital Investment / Paid-up Capital :	Rs. 1.756 Millions
CIN No.: [Company Identification No.]	U24113MH1991PTC063529
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of food and dealers in chemicals.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 280000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for 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.

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 :	Mr. Sharad
Designation :	Accounts Departments
Contact No.:	91-22-40257777
Date :	06.05.2013

LOCATIONS

Registered Office :	A 501-502, Innova Marathon Next Gen, Off Ganpatrao Kadam Marg, Lower Parel, Mumbai – 40013, Maharashtra, India
Tel. No.:	91-22-40257777
Fax No.:	91-22-24907775/6
E-Mail :	info@jostars.com svg1959@yahoo.com
Website :	http://www.jostars.com
Location :	Owned
Factory:	A-97, MIDC, Phase 1, Dombivli (East), Thane – 421203, Maharashtra, India
Tel. No.:	91-251-2472577/5690159
Fax No.:	91-251-2470855

DIRECTORS

As on 21.09.2012

Name :	Mr. Nikhar Vijay Lohia
Designation :	Director
Address :	76-B, Dariya Mahal, 80 Nepeansea Road, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	11.05.1974
Date of Appointment :	27.04.2009
DIN No.:	00200523
Name :	Mr. Anup Kumar Poddar
Designation :	Director
Address :	180 M.G Road, 2^nd Floor, Kolkata – 700007, West Bengal, India
Date of Birth/Age :	30.05.19675
Date of Appointment :	05.02.2010
DIN No.:	00392399
Name :	Mr. Viajy Nathmal Lohia
Designation :	Director
Address :	76, Darya Mahal No.2, 13^th Floor, 80, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	30.12.1952
Date of Appointment :	27.04.2009
DIN No.:	02646343

KEY EXECUTIVES

Name :	Mr. Sharad
Designation :	Accounts Departments

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.09.2012

Names of Shareholders	No. of Shares
Vijay Nathmal Lohia	62250
Nikhar Vijay Lohia	47300
Shweta Lohia	11000
Nirmala Lohia	19750
Rossari Biotech Limited, India	10
Anup Poddar	50
Rossari India Biotech India Private Limited, India	22000
Aryadeep Coomotrade Private Limited, India	500
Anmolik Tracon Private Limited, India	1500
Radiant Equity Management Private Limited, India	750
Rosemount Vanijya Private Limited, India	750
Delta Deltrade Private Limited, India	1000
Metrol Industries Private Limited, India	1000
Fast Speed Agencies Private Limited, India	1500
Block Deal Suppliers Private Limited, India	1000
Capable Marcom Private Limited, India	1500
Hitech Cloths Private Limited, India	1000
Venketeshwar Equities Private Limited, India	750
Luvkush Vincom Private Limited, India	1000
Kherapati Vinimay Private Limited, India	1000
Total	175610

Equity Share Break up (Percentage of Total Equity)

As on 21.09.2012

Category	Percentage
Bodies corporate	20.08
Directors or relatives of Directors	79.92
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of food and dealers in chemicals.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

· Retailers

· End Users

No. of Employees :

50 (Approximately)

Bankers :

HDFC Bank Limited, HDFC Bank House Senapti Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Term Loan	6.097	7.938
Cash Credit Account	44.134	40.010
Loan Repayable on Demand	0.000	0.391
Total	50.231	48.339

Banking Relations :	--
Auditors :
Name :	S.C. Jalan and Associates Chartered Accountants
Address :	Room No. 1, Botawala Building, 1^st Floor, 481/83, Picket Road, Kalabadevi Road, Mumbai -400002, Maharashtra, India
PAN No.:	ABEFS0521M

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
175610	Equity Shares	Rs.10/- each	Rs. 1.756 Millions

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		1.756	1.404	1.404
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		70.283	11.303	9.431
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		72.039	12.707	10.835
LOAN FUNDS
1] Secured Loans		50.231	48.339	39.172
2] Unsecured Loans		8.850	39.858	13.838
TOTAL BORROWING		59.081	88.197	53.010
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		131.120	100.904	63.845
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		19.119	19.922	20.510
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.025	0.025	0.025
DEFERRED TAX ASSETS		0.160	0.072	0.046
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	27.993	20.072	16.733
	Sundry Debtors	78.538	65.858	33.620
	Cash & Bank Balances	0.272	0.201	0.191
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	30.968	14.032	1.713
Total Current Assets		137.771	100.163	52.257
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	24.449	17.761	5.749
	Other Current Liabilities	0.000	0.000	2.019
	Provisions	1.506	1.517	1.225
Total Current Liabilities		25.955	19.278	8.993
Net Current Assets		118.16	80.885	43.264
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		131.120	100.904	63.845

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	314.866	297.573	196.116
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	309.284	292.713	186.874
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		5.582	4.860	9.242
Less/ Add	DEPRECIATION/ AMORTISATION		2.302	2.108	1.748
	PROFIT BEFORE TAX		3.280	2.752	7.494
Less	TAX		1.022	0.88	1.282
	PROFIT AFTER TAX		2.258	1.872	6.212
	EARLIER YEARS INCOME TAX		0.000	0.000	(0.130)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.713	0.341	0.259
Less	APPROPRIATIONS
		Transfer to General Reserve	2.000	1.500	6.000
	BALANCE CARRIED TO THE B/S		0.971	0.713	0.341
	Earnings Per Share (Rs.)		12.86	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.72	0.63	3.17
Return on Total Assets (PBT/Total Assets}	(%)	2.38	2.75	14.34
Return on Investment (ROI) (PBT/Networth)		0.05	0.22	0.69
Debt Equity Ratio (Total Debt /Networth)		0.82	6.94	4.89
Current Ratio (Current Asset/Current Liability)		5.31	5.20	5.81

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2012	31.03.2011	31.03.2010
	(Rs. In Millions)
Sundry Creditors	24.449	17.761	5.749
Total	24.449	17.761	5.749

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 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	No
18]	Major customers	No
19]	Payments terms	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE: Registered office of the company has been shifted from 302 Sigma Technology Street, Hiranandano Gardens Powai, Mumbai – 400076, Maharashtra, India India to the present address w.e.f.11.02.2010

OPERATIONS

During the year the company has achieved turnover and other income accounting to Rs.314.866 Millions as compared to Rs.297.573 Millions in the preceding year. The Directors are putting their efforts to increase the turnover and profitability in the current year

UNSECURED LOAN

PARTICULAR	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Loans From Director	0.000	6.307
Other Loans and Advances	8.850	33.551
Total	8.850	39.858

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	JOSTARS ORGOTECH PRIVATE LIMITED
Name of the company
Address of the registered office or of the principal place of business in India of the company	A 501-502, Innova Marathon Next Gen, Off Ganpatrao Kadam Marg, Lower Parel, Mumbai – 40013, Maharashtra, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10196512
Type of charge	Immovable property
CIN	L65920MH1994PLC080618
Particular of charge holder	HDFC Bank Limited, HDFC Bank House Senapti Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
Nature of instrument creating charge	Memorandum Recording Past Transactions of Creation of Mortgage by Delivery of Title Deeds.
Date of instrument Creating the charge	11.09.2012
Amount secured by the charge	Rs.70.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment Working Capital facility shall be repayable on demand. Term Loan facility shall be repayable in suitable installments. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge The Company accorded and gave oral consent to Bank to continue to hold and retain the title deeds (by way of Constructive delivery) in respect of its immovable properties as stated under Item No.15 below, as security for repayment of Rs.70.000 Millions by the Company together with principal, interest, liquidated damages, costs, charges and expenses.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	A-501, Marathon Innova Nextgen off Ganpat Rao Kadam Marg, Lower Parel (Wast), Mumbai - 13.
Date of instrument modifying the charge	14.12.2010
Particulars of the present modification	The charge shall now stand increased from Rs.55.000 Millions to Rs.70.000 Millions, in favour the Bank against the equitable mortgage of immovable property situated at A-501, Marathon Innova Nextgen off Ganpat Rao Kadam Marg, Lower Parel (Wast), Mumbai - 13.

FIXED ASSEST

· Marathon Innova – Office

· Air Care System

· Air Purifier

· Air Conditioner

· Beaker Dyeing Machines

· Bakery Equipments

· Digital EPABX

· Electrical Installation

· Fax Machine

· Kitchen Accessories

· Lab Equipment

· Office Equipment

· Minolta – Plant and Machinery

· Plant and Machinery (Bakery)

· Ribbon Blendor Machine

· Storage Tank

· Sony Valo

· Xerox Machine

· Furniture and Fixture

· Motor Cycle Bajaj Boxer

· Motor Car – Opel Swing

· Motor Bike Discover

· Skoda – Octavia Laura

· Honda City 1-5 AT Car

· Waganor – R- Lpg-Lx CM Car

· Maruti Cargo Omini

· Maruti Car SX 4 – ZDI – 4

· Delivery Van Tata – 407

· Mahindra Maxx Truck

· Motor Vehicle – Tempo

· Motor Vehicle – Maruti Eeco

· Motor Vehicle – Tata Cab

· Tanker – LPT 1613

· Tanker Motor

· Computer and Accessories

· Micro – Oven Motor Vehicle

· Refrigerator – Samsung

· Alpha Water Purifires

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 transaction 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.53.94
UK Pound	1	Rs.84.03
Euro	1	Rs.70.72

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	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		34

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.