MIRA INFORM REPORT

Report Date :

16.09.2013

IDENTIFICATION DETAILS

Name :	GALAXY PACKTECH PRIVATE LIMITED
Registered Office :	D-1/3, Gali No. 1, Village Dayalpur, Gokulpuri Shahdra, New Delhi-110094
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.10.2005
Com. Reg. No.:	55-141517
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U74899DL2005PTC141517
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pouch Making Machine.
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 23800
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. Payment terms are usually correct. The company can be considered 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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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 :	D-1/3, Gali No. 1, Village Dayalpur, Gokulpuri Shahdra, New Delhi-110094, India
Tel. No.:	Not Available
Mobile No.:	91-9313404180 [Mr. Jagat Singh]
Fax No.:	Not Available
E-Mail :	roc@kkcca.in
Factory :	Plot No. 110, Toy City, Ecotech-III, Udyog Kendra, greater Noida-201306, Uttar Pradesh, India
Tel. No.:	91-120-2397022
Fax No.:	91-120-2397106

DIRECTORS

AS ON 30.09.2012

Name :

Mr. Shiv Kumar

Designation :

Director

Address :

11/481, Sadarpur Colony, Sector 37, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

20.04.1975

Date of Appointment :

06.10.2005

Din No.:

00676369

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	U50300UP1984PTC006736	GEMINI AUTO PRIVATE LIMITED	Director	23/03/2004	23/03/2004	11/12/2009	Active	NO
2	U74899DL2005PTC141517	GALAXY PACKTECH PRIVATE LIMITED	Director	06/10/2005	06/10/2005	-	Active	NO
3	U51909DL2005PTC137261	SARTHI IMPEX PRIVATE LIMITED	Director	02/12/2009	02/12/2009	-	Active	NO

Name :

Mr. Jagat Singh

Designation :

Director

Address :

Village Nithari, Sector 31, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

14.02.1973

Date of Appointment :

06.10.2005

Din No.:

00400846

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	U50300UP1984PTC006736	GEMINI AUTO PRIVATE LIMITED	Director	23/03/2004	23/03/2004	11/12/2009	Active	NO
2	U74899DL2005PTC141517	GALAXY PACKTECH PRIVATE LIMITED	Director	06/10/2005	06/10/2005	-	Active	NO
3	U51909DL2005PTC137261	SARTHI IMPEX PRIVATE LIMITED	Director	02/12/2009	02/12/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Shiv Kumar	5000
Jagat Singh	5000
TOTAL	10000

AS ON 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Pouch Making Machine.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Bank of India, Noida Branch, E-52 B, Sector 9, Noida-201301, Uttar Pradesh, India
• Axis Bank

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
Bank of India Term Loan	0.517	0.960
Bank of India Cash Credit	0.337	2.605
Axis Bank Car Loan	1.057	0.000
TOTAL	1.911	3.565

Banking Relations :	--
Auditors :
Name :	Keshari Keshari and Company Chartered Accountants
Address :	C-167, Sector 19, Noida-201301, Uttar Pradesh, India
PAN No:	AADFK6362Q

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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	0.100	0.100
(b) Reserves & Surplus	5.867	3.527
(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)	5.967	3.627
(3) Non-Current Liabilities
(a) long-term borrowings	3.311	4.965
(b) Deferred tax liabilities (Net)	0.062	0.050
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	3.373	5.015
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	21.472	15.102
(c) Other current liabilities	0.159	0.047
(d) Short-term provisions	1.507	1.086
Total Current Liabilities (4)	23.138	16.235
TOTAL	32.478	24.877
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6.584	5.597
(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	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	6.584	5.597
(2) Current assets
(a) Current investments	4.543	6.952
(b) Inventories	8.669	9.840
(c) Trade receivables	6.373	1.147
(d) Cash and cash equivalents	2.780	0.179
(e) Short-term loans and advances	0.204	0.072
(f) Other current assets	3.321	1.084
Total Current Assets	25.890	19.274
MISCELLANEOUS EXPENSES	0.004	0.006
TOTAL	32.478	24.877

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		1.789
4] (Accumulated Losses)		0.000
NETWORTH		1.889
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		1.416
TOTAL BORROWING		1.416
DEFERRED TAX LIABILITIES		0.000
TOTAL		3.305
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.784
Capital work-in-progress		0.000
INVESTMENT		5.243
DEFERREX TAX ASSETS		0.023
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	2.322
	Cash & Bank Balances	0.935
	Other Current Assets	3.600
	Loans & Advances	0.000
Total Current Assets		6.857
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.627
	Other Current Liabilities	4.359
	Provisions	0.623
Total Current Liabilities		9.609
Net Current Assets		(2.752)
MISCELLANEOUS EXPENSES		0.007
TOTAL		3.305

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		NA	NA
		Other Income		NA	NA
		TOTAL	67.772	NA	NA
Less	EXPENSES
		TOTAL	64.351	NA	NA
	PROFIT / (LOSS) BEFORE TAX		3.421	NA	NA
Less	TAX		1.081	NA	NA
	PROFIT / (LOSS) AFTER TAX		2.340	1.737	0.574
	Earnings / (Loss) Per Share (Rs.)		0.23	173.70	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.45	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	10.53	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.57	NA	NA
Debt Equity Ratio (Total Debt/Networth)		0.55	1.37	0.75
Current Ratio (Current Asset/Current Liability)		1.12	1.19	0.71

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 one year	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10231068	06/07/2010	2,000,000.00	BANK OF INDIA	NOIDA BRANCH, E-52B SECTOR-9, NOIDA - 201301, UTTAR PRADESH, INDIA	A90316589
2	10229661	06/07/2010	2,500,000.00	BANK OF INDIA	NOIDA BRANCH, E-52B SECTOR-9, NOIDA - 201301, UTTAR PRADESH, INDIA	A89769442

FINANCIAL PERFORMANCE:

During the year under consideration, the company has achieved a net profit of Rs.2.340 Millions (previous year a net profit of Rs.1.737 Millions.)

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
Loans Related Parties	1.400	1.400
TOTAL	1.400	1.400

FIXED ASSETS:

• Furniture and Fixtures
• Mobile Phone and Telephone
• Scooter
• Honda City Car
• Fan
• Office Equipments
• Printer
• Welding Machine
• Generator
• Ste Top Box
• Computer Accessories
• AC
• Trolly
• Weighting Scale
• Plant and Machinery
• Building
• Electricity Machine

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 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] 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.63.79
UK Pound	1	Rs.100.70
Euro	1	Rs.84.67

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--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.