MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED
Registered Office :	A-83, Industrial Estate, Rajaji Nagar, Bangalore – 560044, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.04.1998
Com. Reg. No.:	08- 023682
Capital Investment / Paid-up Capital :	Rs.13.275 Millions
CIN No.: [Company Identification No.]	U22212KA1998PTC023682
TAN No.: [Tax Deduction & Collection Account No.]	BLRG00957F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Printing and Packaging Cartons, Lables, Pharma Literature, Visual Aids, Greeting Cards.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 523000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct, and as per commitments. Company can be considered normal for 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: BB
Rating Explanation	Moderate risk of default.
Date	26.02.2013

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. Sreenivasan
Designation :	Accounts Manager
Contact No.:	91-80-23208056
Date :	19.10.2013

LOCATIONS

Registered Office/ Factory :	A-83, Industrial Estate, Rajaji Nagar, Bangalore – 560044, Karnataka, India
Tel. No.:	91-80-23208056/ 23151577/ 23402656
Fax No.:	91-80-23106150
E-Mail :	manjunath@globalprintingpackaging.com surendranath@globalprintingandpackaging.com rajhans_printers@vsnl.com global_printing@dataone.in dushyanthak@gmail.com global_packaging@dataone.in emmarjee@gmail.com
Location :	Owned

DIRECTORS

(AS ON 29.09.2012)

Name :	Mr. Surendranath Krishna Setty Badwaram
Designation :	Director
Address :	No.12, Vinayaka Layout, 3^rd Stage, Vijayanagar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	03.10.1956
Date of Appointment :	29.04.1998
DIN No.:	00882059
Name :	Mr. Manjunath Krishna Setty Badwaram
Designation :	Director
Address :	No.193/B, 2^nd Block, 3^rd Cross, West of Chord Road, 3^rd Stage, Basaveswara Nagar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	19.06.1958
Date of Appointment :	29.04.1998
DIN No.:	00882079
Name :	Mr. Amarnath Krishna Setty Badavaram
Designation :	Director
Address :	No.12, Vinayaka Layout, 3^rd Stage, Vijayanagar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	18.05.1962
Date of Appointment :	01.10.2009
DIN No.:	00882105
Name :	Mr. Sanjeevanath Krishna Setty Badwaram
Designation :	Director
Address :	No.12, Vinayaka Layout, 3^rd Stage, Vijayanagar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	12.06.1960
Date of Appointment :	01.10.2009
DIN No.:	00882116

KEY EXECUTIVES

Name :	Mr. Sreenivasan
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2012)

Names of Shareholders	No. of Shares
Sharmila Amarnath	9250
B K Surendranath	21000
B K Manjunath	23350
B K Sanjeevanath	18350
B K Amarnath	23000
B S Sandhya	12200
Bhavana Manjunath	10000
Sumana Sanjeevanath	10600
Rishab Electro Electrical Private Limited, India	5000
Total	132750

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Bodies corporate	25.00
Directors or relatives of directors	75.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Printing and Packaging Cartons, Lables, Pharma Literature, Visual Aids, Greeting Cards.
Exports :
Products :	· Printing and Packaging Cartons · Lables · Pharma Literature
Countries :	· Jordan · Sri Lanka · UK
Imports :
Products :	Raw Material
Countries :	· Germany · Finland · UK · Switzerland · Denmark
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

· Hindustan Lever Limited

No. of Employees :

200 (Approximately)

Bankers :

· State Bank of India

Commercial Branch, Rajajinagar Industrial Estate, Bangalore – 560044, Karnataka, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Short Term Borrowings
Term Loans from Banks (Secured against book debts, Plant and Machinery and Building) (Secured by Equitable mortgage of industrial land and industrial shed and hypothecation of entire machineries, electrical installations and other moveable fixed assets, hypothecation of stock, receivables and guaranteed by directors)	52.242	0.000
Working Capital Loans From Banks CC at State Bank of India	0.000	58.678
Total		58.678

Banking Relations :	--
Auditors :
Name :	Udaya Ravindra and Manoj Chartered Accountants
Address :	No.4, II Floor, Sree Ramabhadra Complex, No.4/5 Poojari Cheluvaiah Lane SJP Road, Cross, Bangalore – 560002, Karnataka, India
Tel. No.:	91-80-22239665/ 32950881/ 41698935
PAN No.:	AAAFU2166K
Memberships :	CAPEXIL, KOPA, FINAT, LMAI, FKCCI, KASSIA
Associates/Subsidiaries :	· Mysoro Plastic and Ceramics Private Limited

CAPITAL STRUCTURE

(AS ON 29.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
132750	Equity Shares	Rs.100/- each	Rs.13.275 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13.275	13.275
(b) Reserves & Surplus	117.431	104.546
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1)+(2)	130.706	117.821
(3) Non-Current Liabilities
(a) long-term borrowings	9.300	14.150
(b) Deferred tax liabilities (Net)	9.153	9.066
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	18.453	23.216
(4) Current Liabilities
(a) Short term borrowings	52.242	58.678
(b) Trade payables	37.219	133.994
(c) Other current liabilities	1.546	1.278
(d) Short-term provisions	11.695	13.051
Total Current Liabilities (4)	102.702	207.001
TOTAL	251.861	348.038
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	136.807	134.141
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	19.753	19.753
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	156.560	153.894
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	16.723	29.532
(c) Trade receivables	63.260	66.564
(d) Cash and cash equivalents	5.002	90.046
(e) Short-term loans and advances	10.316	8.002
(f) Other current assets	0.000	0.000
Total Current Assets	95.301	194.144
TOTAL	251.861	348.038

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		13.275
2] Share Application Money		0.000
3] Reserves & Surplus		96.916
4] (Accumulated Losses)		0.000
NETWORTH		110.191
LOAN FUNDS
1] Secured Loans		55.980
2] Unsecured Loans		8.400
TOTAL BORROWING		64.380
DEFERRED TAX LIABILITIES		8.925
TOTAL		183.496
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		131.989
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	38.214
	Sundry Debtors	48.499
	Cash & Bank Balances	70.023
	Other Current Assets	0.000
	Loans & Advances	27.213
Total Current Assets		183.949
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	127.943
	Other Current Liabilities	4.499
	Provisions	0.000
Total Current Liabilities		132.442
Net Current Assets		51.507
MISCELLANEOUS EXPENSES		0.000
TOTAL		183.496

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	293.142	285.877	245.830
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	273.809	274.410	237.360
	NET PROFIT DURING THE YEAR		19.333	11.467	8.470

Particulars	31.03.2013
Sales Turnover (Approximately)	300.000

The above information has been parted by Mr.

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.60	4.01	3.45
Return on Total Assets (PBT/Total Assets}	(%)	7.68	3.29	2.68
Return on Investment (ROI) (PBT/Networth)		0.15	0.10	0.08
Debt Equity Ratio (Total Debt/Networth)		0.47	0.62	1.39
Current Ratio (Current Asset/Current Liability)		0.93	0.94	1.39

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	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	Yes
17]	Major suppliers	No
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	Yes

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/ Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90200841	07/08/2003	18,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, RAJAJI NAGAR, BANGALORE, KARNATAKA - 560044, INDIA	-
2	90196346	28/11/2012 *	80,100,000.00	STATE BANK OF INDIA	SME BRANCH,, RAJAJINAGAR INDUSRTIAL ESTATE, BANGALORE, KARNATAKA - 560010, INDIA	B63378129
3	90199143	07/08/2003 *	3,500,000.00	STATE BANK OF INDIA	COMMECIAL BRANCH, RAJAJINAGAR, BANGALORE, KARNATAKA - 560044, INDIA	-
4	90200306	07/08/2003 *	3,500,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, RAJAJI NAGAR, BANGALORE, KARNATAKA - 560044, INDIA	-
5	90197426	09/06/2000 *	25,500,000.00	STATE BANK OF INDIA	COMMECIAL BRANCH, RAJAJINAGAR, BANGALORE, KARNATAKA - 560044, INDIA	-

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Borewell

· Plant and Machinery

· Air Conditioners

· Refrigerator

· Furniture and Fixtures

· Computers

· UPS

· Printer

· Scooter

· Car

· Fire Extinguisher

· Aqua Guard

· Generator

· Cycle

· Office Equipments

· Electric Installation

· Toyota Qualis

· Wagon- R

· Toyota Innova

· TATA 407

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.61.28
UK Pound	1	Rs.99.02
Euro	1	Rs.83.80

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.