MIRA INFORM REPORT

Report Date :

27.05.2013

IDENTIFICATION DETAILS

Name :	NICHIPLAST INDIA PRIVATE LIMITED
Registered Office :	A - 68/3, G T Karnal Road, Industrial Area, Delhi-110033
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	20.10.1993
Com. Reg. No.:	55-055729
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U74899DL1993PTC055729
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Adhesive Strips, Wound Dressings and Medical Tapes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 12000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company has modest scale of operation. The profitability appears to be low. However, trade relations are fair. Business is active. Payments terms are slow. 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.

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 :	A - 68/3, G T Karnal Road, Industrial Area, Delhi-110033, India
Tel. No.:	Not Available
Fax No.:	91-11-27443594
E-Mail :	mcafiling@asa-india.com sales@nichiplast.com
Website :	http://www.nichiplast.com

DIRECTORS

As on : 29.09.2012

Name :

Mr. Yogesh Gupta

Designation :

Director

Address :

H–18, F.F., Green park Extension, New Delhi – 110016, India

Date of Birth/Age :

31.10.1954

Date of Appointment :

20.10.1993

DIN No.:

00022434

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	U74899DL1993PTC055729	NICHIPLAST INDIA PRIVATE LIMITED	Director	20-10-93	20-10-93	-	Active	NO
2	U18204DL2007PTC162780	SMJ GARMENTS PRIVATE LIMITED	Director	23-06-10	23-06-10	-	Active	NO

Name :

Mr. Rajneesh Gupta

Designation :

Director

Address :

C–4/38, Ground Floor, Safdarjung Development Area, New Delhi – 110016, India

Date of Birth/Age :

10.06.1966

Date of Appointment :

01.04.2010

DIN No.:

03110730

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Names of Shareholders	No. of Shares
Yogesh Gupta	45960
Rajneesh Gupta	29010
Shalini Gupta	15000
Satish Kharbanda	10
Veena Aggarwal	10
Kavita Gupta	10010
Total	100000

Equity Share Break up (Percentage of Total Equity)

As on ; 29.09.2012

Category	Percentage
Directors or relatives of Directors	99.98
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Adhesive Strips, Wound Dressings and Medical Tapes.

GENERAL INFORMATION

Customers :

· Multinational FMGC’s

· Pharma Companies

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

(Rs. in Millions)

SECURED LOAN	31.03.2012	31.03.2011
ICICI Bank – Car Loan (Secured against hypothecation of Car)	0.000	0.957
Total	0.000	0.957

Auditors :
Name :	Aggarwal Sanjay and Associates Chartered Accountants
Address :	LGF 106-107, Pocket 52, Chittaranjan Park, New Delhi-110019, India
PAN No.:	AAGFA1102K

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.039	2.027	1.971
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.039	3.027	2.971
LOAN FUNDS
1] Secured Loans		0.000	0.957	1.417
2] Unsecured Loans		0.250	3.800	5.250
TOTAL BORROWING		0.250	4.757	6.667
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.289	7.784	9.638
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.365	3.080	4.167
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.254	0.273	0.066
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.750	0.482	0.848
	Sundry Debtors	0.728	3.417	3.242
	Cash & Bank Balances	1.087	0.859	2.156
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.671	1.270	0.155
Total Current Assets		5.236	6.028	6.401
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.513	1.400	0.031
	Other Current Liabilities	2.053	0.197	0.965
	Provisions	0.000	0.000	0.000
Total Current Liabilities		3.566	1.597	0.996
Net Current Assets		1.670	4.431	5.405
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.289	7.784	9.638

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	31.165	22.851	16.646
Less	EXPENSES
		TOTAL	NA	22.978	NA
	PROFIT / (LOSS) BEFORE TAX		NA	(0.127)	NA
Less	TAX		NA	0.024	NA
	PROFIT / (LOSS) AFTER TAX		0.093	(0.151)	0.316
	Earnings Per Share (Rs.)		NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	(0.66)	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.00	(1.39)	0.00
Return on Investment (ROI) (PBT/Networth)		0.00	(0.04)	0.00
Debt Equity Ratio (Total Debt /Networth)		0.08	1.57	2.24
Current Ratio (Current Asset/Current Liability)		1.47	3.77	6.43

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	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	No
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

FINANCIAL RESULTS :

The Company has achieved a Net Turnover of Rs. 31.165 Millions (Rs. 22.851 Millions) during the year and it has incurred a Profit of Rs. 0.093 Millions (Loss of Rs. 0.151 Million).

UNSECURED LOAN :

Rs in Millions

Particulars	31.03.2012	31.03.2011
From Directors and their Relatives	0.250	3.550
From Body Corporate	0.000	0.250
Total	0.250	3.800

FIXED ASSET :

· Plant and Machinery

· Computer

· Printer

· Two Wheelers

· Car

· Furniture and Fixture

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. 55.61
UK Pound	1	Rs. 83.98
Euro	1	Rs. 71.94

INFORMATION DETAILS

Report Prepared by :

NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	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		30

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.