MIRA INFORM REPORT

Report Date :

20.05.2013

IDENTIFICATION DETAILS

Name :	PRIMA PRIVATE LIMITED (w.e.f. 16.04.2012)
Formerly Known As :	PRIMA PAPER AND ENGINEERING PRIVATE LIMITED
Registered Office :	Chaitanya 774, Budhwar Peth, Pune - 411002, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.11.1974
Com. Reg. No.:	11-017894
Capital Investment / Paid-up Capital :	Rs. 3.299 Millions
CIN No.: [Company Identification No.]	U21012MH1974PTC017894
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Automobile and Brake System Components and engaged in power generation through wind mill.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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 :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears a drastic fall in the profitability during 2011-12. However the liquidity and financial position appears to be good. Trade relations are fair. Business is active. Payment terms are usually correct. The company can be considered normal for business dealings at usual trade terms and conditions. Note: The company has changed its name from “Prima Paper and Engineering Private Limited” to “Prima Private Limited” w.e.f. 16^th April, 2012

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

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 :	Chaitanya 774, Budhwar Peth, Pune - 411002, Maharashtra, India
Tel. No.:	91-20-27129352/ 53/ 27129
Mobile No.:	91-9822752372 (Mr. Shashank) 91-9011035741 (Mr. M. Bhome)
Fax No.:	91-20-27122576
E-Mail :	ppepl@vsnl.net primapaperpacks@gmail.com mbhome@ppepl.in info@ppepl.in sales@ppepl.in shashank@ppepl.in rgjoshi@ppepl.in dlambate@ppepl.in hr@ppepl.in
Website :	http://www.ppepl.in
Location :	Owned
Factory 1 :	J - 195, MIDC, Bhosari, Pune - 411026, Pune, India
Area :	30000 Sq.fts
Location :	Owned
Factory 2 :	T - 73, MIDC, Bhosari, Pune - 411026, Pune, India
Tel. No.:	91-20-27129352/53
Area :	35000 Sq.fts
Location :	Owned

DIRECTORS

As on: 29.09.2012

Name :

Mr. Rajeev Govind Joshi

Designation :

Managing Director

Address :

Chaitanya 774, Budhwar Peth, Pune - 411002, Maharashtra, India

Date of Birth/Age :

25.01.1954

Qualification :

BE

Date of Appointment :

30.06.1987

DIN No.:

00151822

Other Directorship :

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U21012MH1974PTC017894	PRIMA PRIVATE LIMITED	Managing director	30/06/1987	30/06/1987	-	Active	NO
2	U74210PN1994PTC079127	SUDHANSHU ENGINEERING PRIVATE LIMITED	Director	01/05/1995	01/05/1995	-	Active	NO
3	U28910MH1986PTC038707	SUPREME SINTERED PRODUCTS PRIVATE LIMITED	Director	04/09/2000	04/09/2000	-	Active	NO

Name :

Mrs. Anjali Rajeev Joshi

Designation :

Director

Address :

Chaitanya 774, Budhwar Peth, Pune - 411002, Maharashtra, India

Date of Birth/Age :

25.11.1956

Qualification :

MA

Date of Appointment :

01.06.2002

DIN No.:

00151881

Name :

Mr. Shashank Rajeev Joshi

Designation :

Director

Address :

Chaitanya 774, Budhwar Peth, Pune - 411002, Maharashtra, India

Date of Birth/Age :

16.12.1982

Qualification :

MA

Date of Appointment :

01.06.2002

DIN No.:

00152091

Name :

Mrs. Radhika Govind Joshi

Designation :

Director

Address :

Chaitanya 774, Budhwar Peth, Pune - 411002, Maharashtra, India

Date of Birth/Age :

01.01.1928

Date of Appointment :

30.06.1988

DIN No.:

00505842

Other Directorship :

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U21012MH1974PTC017894	PRIMA PRIVATE LIMITED	Director	30/06/1988	30/06/1988	-	Active	NO
2	U74210PN1994PTC079127	SUDHANSHU ENGINEERING PRIVATE LIMITED	Director	01/05/1995	01/05/1995	-	Active	NO
3	U28910MH1986PTC038707	SUPREME SINTERED PRODUCTS PRIVATE LIMITED	Director	04/09/2000	04/09/2000	-	Active	NO

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Rajiv Govind Joshi	8281
Radhika Govind Joshi	2873
Anjali Rajiv Joshi	1053
Saroj Chandratre D	455
Jayashree S Dhamle	533
TOTAL	13195

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Automobile and Brake System Components and engaged in power generation through wind mill.

GENERAL INFORMATION

No. of Employees :

300 (Approximately)

Bankers :

Central Bank of India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Overdraft facilities from Central Bank of India (Secured against pledge of fixed deposit receipt of Central Bank of India)	64.387	71.952
Total	64.387	71.952

Banking Relations :	--
Auditors :
Name :	Sharad Shah and Company Chartered Accountant
Address :	Gokul Nagar, B 1184/4, F. C. Road, Pune – 411005, Maharashtra, India
Tel. No.:	91-20-25535405/ 25535426
Fax No.:	91-20-25536624
E-Mail :	ssandco@vsnl.net
Website:	www.ssandco.com
PAN.:	AAEFS2410C

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.250/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13195	Equity Shares	Rs.250/- each	Rs. 3.299 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		3.299	3.299	3.299
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		323.853	307.907	250.997
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		327.152	311.206	254.296
LOAN FUNDS
1] Secured Loans		64.387	71.952	63.282
2] Unsecured Loans		60.985	55.264	47.809
TOTAL BORROWING		125.372	127.216	111.091
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		452.524	438.422	365.387
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		142.737	115.322	116.159
Capital work-in-progress		3.399	10.941	2.160
INVESTMENT		161.856	112.054	116.261
DEFERREX TAX ASSETS		2.797	1.625	0.710
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11.878	11.507	11.385
	Sundry Debtors	163.741	163.430	69.113
	Cash & Bank Balances	77.390	78.948	65.347
	Other Current Assets	3.522	15.913	20.518
	Loans & Advances	19.084	52.231	33.813
Total Current Assets		275.615	322.029	200.176
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	106.587	101.852	63.652
	Other Current Liabilities	26.833	21.697	6.427
	Provisions	0.460	0.000	0.000
Total Current Liabilities		133.880	123.549	70.079
Net Current Assets		141.735	198.480	130.097
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		452.524	438.422	365.387

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	357.786	325.918	226.233
		Other Income
		TOTAL	357.786	325.918	226.233
Less	EXPENSES
		Office Expenses	NA	247.923	190.292
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	247.923	190.292
	PROFIT BEFORE TAX		NA	77.995	35.941
Less	TAX		NA	21.085	(0.660)
	PROFIT AFTER TAX		15.946	56.910	36.601
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	205.139	NA
	BALANCE CARRIED TO THE B/S		NA	262.049	205.139
	IMPORTS
		Raw Materials	0.000	6.071	NA
		Stores & Spares	8.786	7.363
	TOTAL IMPORTS		8.786	13.434	NA
	Earnings Per Share (Rs.)		1208.49	4312.99	2773.85

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	4.46	17.46	16.18
Return on Total Assets (PBT/Total Assets}	(%)	NA	17.83	11.36
Return on Investment (ROI) (PBT/Networth)		NA	0.25	0.14
Debt Equity Ratio (Total Debt /Networth)		0.38	0.41	0.44
Current Ratio (Current Asset/Current Liability)		2.06	2.61	2.86

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

OPERATIONAL REVIEW:

The Company continues to carry on business of manufacturing of automobile and break system components, aluminum die casting components, wheel assembly and fasteners. The Company also continues business of generating power through windmill.

On 16th April, 2012 name of the Company was changed from Prima Paper and Engineering Private Limited to Prima Private Limited. The said procedure was completed after complying with provisions of the Companies Act.

The Company also continued with the Wind Mill operations. In near future, Company is planning to start its business of Hotels and Film production.

During the year under consideration, the Company achieved a turnover of Rs. 357.786 Millions as against the turnover of Rs. 325.918 Millions during the previous year.

The profit of the Company is reduced from Rs. 56.910 Millions to Rs. 15.946 Millions due to increase in expenses and reduction of other income.

The board expects to achieve better results in the upcoming year.

The auditor’s remarks are self-explanatory. The board is taking steps to regularize the matters.

UNSECURED LOAN:

(Rs. in Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Loans form Directors	59.613	53.892
Other Unsecured Loans	1.372	1.372
Total	60.985	55.264

FIXED ASSETS:

· Building

· Plant and Machinery

· Computer Software

· Vehicle

· Furniture and Electrical

· Office Equipment

· Flat

· Land

· Wind Mill

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.54.89
UK Pound	1	Rs.83.66
Euro	1	Rs.70.58

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.