MIRA INFORM REPORT

Report Date :

21.05.2013

IDENTIFICATION DETAILS

Name :	ATTITUDE PLASTICS PRIVATE LIMITED
Registered Office :	Plot No. 35-2 D-II Block, Telco Road MIDC, Chinchwad, Pune – 411019, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.10.2002
Com. Reg. No.:	11-017389
Capital Investment / Paid-up Capital :	Rs. 82.168 Millions
CIN No.: [Company Identification No.]	U25209PN2002PTC017389
PAN No.: [Permanent Account No.]	AAECA1312N
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer of Plastic Moulded Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 600000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears slight dip in its profitability. However, general financial position is good. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

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.

INFORMATION DENIED BY

Name :	Mr. Praful
Designation :	Finance Head
Contact No.:	91-20-66352400
Date :	20.05.2013

LOCATIONS

Registered Office/ Corporate Office/ Factory 1 :	Plot No. 35-2 D-II Block, Telco Road MIDC, Chinchwad, Pune – 411019, Maharashtra, India
Tel. No.:	91-20-66352400/ 27472750
Fax No.:	91-66111764
E-Mail :	nmg@attitudeplastic.com info@attitudeproduct.com
Website :	www.attwin.com www.attitudeplastic.com
Factory 2 :	Sector 3, Plot No. 180/C, HSIDC, Growth Center, Bawal, Haryana, India
Fax No.:	91-1284-264005
Factory 3 :	37/2, D-II Block, Telco Road MIDC, Chinchwad, Pune – 411019, Maharashtra, India
Tel. No.:	91-20-66352400
Factory 4 :	Gate No. 200, Village Bhamboli, Taluka Rajgurunagar, Pune – 410501, Maharashtra, India
E-Mail :	nmg@attitudeplastic.com

DIRECTORS

As on: 29.09.2012

Name :

Mr. Nitin Mahendra Gupta

Designation :

Director

Address :

'Nirmal' Bunglow, Plot No. 162, Sector No. 24, Pcntda, Nigdi, Pune – 411031, Maharashtra, India

Date of Birth/Age :

11.08.1969

Experience :

About 10 Years

Date of Appointment :

29.10.2002

DIN No.:

00884759

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	U25209PN2002PTC017389	ATTITUDE PLASTICS PRIVATE LIMITED	Director	29/10/2002	29/10/2002	-	Active	NO
2	U72900PN2009PTC133584	ATTWIN TECHNOLOGIES PRIVATE LIMITED	Director	26/02/2009	26/02/2009	-	Active	NO
3	U28939PN2009PTC133763	ATTITUDE LIFE SCIENCE PRODUCTS PRIVATE LIMITED	Director	09/04/2009	09/04/2009	-	Active	NO

Name :

Mrs. Neena Nitin Gupta

Designation :

Directo

Address :

'Nirmal' Bunglow, Plot No. 162, Sector No. 24, Pcntda, Nigdi, Pune – 411031, Maharashtra, India

Date of Birth/Age :

17.08.1972

Date of Appointment :

01.04.2004

DIN No.:

00884737

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	U25209PN2002PTC017389	ATTITUDE PLASTICS PRIVATE LIMITED	Director	01/04/2004	01/04/2004	-	Active	NO
2	U28939PN2009PTC133763	ATTITUDE LIFE SCIENCE PRODUCTS PRIVATE LIMITED	Additional director	12/11/2012	12/11/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Praful
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders (Equity Shares)	No. of Shares
Nitin Mahendra Gupta	2061000
Neena Nitin Gupta	673260
Rajeev Kumar Gupta	482517
Hotel Surya Private Limited, India	10
Total	3216787

Names of Shareholders (Preferences Shares)	No. of Shares
Nitin Mahendra Gupta	4000000
Hotel Surya Private Limited, India	1000000
Total	5000000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	15.00
Bodies corporate	85.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Moulded Components.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• IDBI Bank Limited, 4620, Patil Plaza, Near Hans Medical, Pune-Mumbai Road, Chinchwad, Pune - 411019, Maharashtra, India
• Small Industries Development Bank of India, Jeevan Shree Building, Ground Floor, S. No. 1109, Plot No. 488, Ganeshkhind Road , Shivajinagar, Pune - 411005, Maharashtra, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Rupee Term Loans from Banks	211.032	147.090
Term Loans from others	1.740	2.562
Working capital loan from bank	70.926	62.328
Other loans and advances	29.992	0.000
Total	313.690	211.980

Banking Relations :	--
Auditors :
Name :	S. Gautam and Associates Chartered Accountants
Address :	25, B Wing (Rear), First Floor, Kamala Cross Roads, Opposite PCMC Building, Pune – 411018, Maharashtra, India
PAN.:	ABLFS5656G
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Attitude Life Science Products Private Limited CIN No.: U28939PN2009PTC133763 Attwin Technologies Private Limited CIN No.: U72900PN2009PTC133584 Uma Plastoware Private Limited CIN No.: U25209PN1997PTC108183 Dheeraj Engineering And Tools Private Limited CIN No.: U29299PN2003PTC017792

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Millions
5000000	Preference Shares	Rs.10/- each	Rs. 50.000 Millions
	Total		Rs. 85.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3216787	Equity Shares	Rs.10/- each	Rs. 32.168 Millions
5000000	Preference Shares	Rs.10/- each	Rs. 50.000 Millions
	Total		Rs. 82.168 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		82.168	32.168	32.168
2] Share Application Money		0.000	50.000	0.000
3] Reserves & Surplus		85.451	70.320	36.643
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		167.619	152.488	68.811
LOAN FUNDS
1] Secured Loans		313.690	211.980	86.372
2] Unsecured Loans		32.370	3.414	28.822
TOTAL BORROWING		346.060	215.394	115.194
DEFERRED TAX LIABILITIES		25.966	18.883	4.003
TOTAL		539.645	386.765	188.008
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		364.779	254.963	98.286
Capital work-in-progress		0.000	20.492	26.136
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	127.104	83.438	35.833
	Sundry Debtors	60.854	93.713	63.489
	Cash & Bank Balances	6.356	3.135	2.088
	Other Current Assets	12.076	11.669	0.000
	Loans & Advances	38.276	40.182	28.784
Total Current Assets		244.666	232.137	130.194
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	12.297	75.585	45.583
	Other Current Liabilities	47.760	38.151	6.940
	Provisions	9.743	7.091	14.085
Total Current Liabilities		69.800	120.827	66.608
Net Current Assets		174.866	111.310	63.586
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		539.645	386.765	188.008

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	839.341	704.350	467.849
		Other Income
		TOTAL (A)	839.341	704.350	467.849
Less	EXPENSES
		Office Expenses
		Administrative Expenses	756.791	631.317	438.022
		Advertising Expenses
		TOTAL (B)	756.791	631.317	438.022
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		82.550	73.033	29.827
Less	FINANCIAL EXPENSES (D)		35.037	21.515	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		47.513	51.518	29.827
Less/ Add	DEPRECIATION/ AMORTISATION (F)		21.451	(1.139)	0.000
	PROFIT BEFORE TAX (E-F) (G)		26.062	52.657	29.827
Less	TAX (H)		10.931	18.980	11.085
	PROFIT AFTER TAX (G-H) (I)		15.131	33.677	18.742
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	14.568	0.090
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	NA	0.500
		Dividend	NA	NA	3.217
		Tax on Dividend	NA	NA	0.547
	BALANCE CARRIED TO THE B/S		NA	NA	14.568
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export goods	9.926	6.222	1.221
	TOTAL EARNINGS		9.926	6.222	1.221
	IMPORTS
		Capital Goods	0.000	14.343	2.341
	TOTAL IMPORTS		0.000	14.343	2.341
	Earnings Per Share (Rs.)		1.84	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.80	4.78	4.01
Return on Total Assets (PBT/Total Assets}	(%)	4.27	10.81	13.05
Return on Investment (ROI) (PBT/Networth)		0.16	0.35	0.43
Debt Equity Ratio (Total Debt /Networth)		2.06	1.41	1.67
Current Ratio (Current Asset/Current Liability)		3.51	1.92	1.95

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	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	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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25209PN2002PTC017389
Name of the company	ATTITUDE PLASTICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 35-2 D-II Block, Telco Road MIDC, Chinchwad, Pune – 411019, Maharashtra, India nmg@attitudeplastic.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	IDBI Bank Limited, 4620, Patil Plaza, Near Hans Medical, Pune-Mumbai Road, Chinchwad, Pune - 411019, Maharashtra, India vasumati_joglekar@idbi.co.in
Nature of instrument creating charge	Deed of Hypothecation - Attitude Plastics Private Limited
Date of instrument Creating the charge	22.03.2013
Amount secured by the charge	Rs. 170.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest TL: BBR+300BPS (Presently BBR IS 10.25% P.A)Payable Monthly WCL: BBR+300BPS (Presently BBR IS 10.25% P.A)Payable Monthly Terms of Repayment TL: BBR+300BPS (Presently BBR IS 10.25% P.A)Payable Monthly WCL: BBR+300BPS (Presently BBR IS 10.25% P.A)Payable Monthly Margin TL: 28.38% Promoter Contribution Including Quasi Equity of SIDBI. Total TL Proposed At Rs.110.000 Millions I.E Rs. 100.000 Millions From IDBI and RS. 10.000 Millions From SIDBI WCL : 25% on stock & 30% on debtors < 90 days Extent and Operation of the charge To secure due repayment of all the outstanding amounts together with interest further interest, additional interest penal interest, costs, charges and expenses and all other monies as stipulated and all limits may be converted into demand loan at the discretion of IDBI carrying interest rate @2% p.a over and above the prevailing cap rate of IDBI Others Fresh Term Loan: 100.000 Millions Cash Credit: 70.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge by way of hypothecation of all the movables including movable machinery, machinery spares, tools and accessories, present and future Stocks of raw materials, semi-finished and finished goods, consumable stores, book debts and such other movables To secure the cash credit facility and the term loan for attitude life science products private limited, a sister concern of the company

UNSECURED LOAN

Particular	As on 31.03.2012	As on 31.03.2011
Loans and advances from directors	31.342	3.414
Loans and advances from others	1.028	0.000
Total	32.370	3.414

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• 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. 55.04
UK Pound	1	Rs. 83.61
Euro	1	Rs. 70.68

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	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.