MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	MICO PLAST INDUSTRIES PRIVATE LIMITED
Country :	India
Financials (as on) :	31.03.2013
TAN No.: [Tax Deduction & Collection Account No.]	CHEM01303B
PAN No.: [Permanent Account No.]	AAACM6176C
Legal Form :	Private Limited Liability Company
No. of Employees :	180 (Approximately)

BUSINESS DETAILS

Line of Business :	Manufacturer of LDPE Bag, PP Bags, Multi Colour FLEXO and Gravure Printing.
Exports :
Products :	HDLDPE, PP Bags
Countries :	· Sri Lanka · South Africa · Colombo · France
Imports :
Products :	Raw Material
Countries :	· UAE · Saudi Arabia · Singapore
Terms :
Selling :	Cash and Advance Payment
Purchasing :	Cash and Advance Payment

GENERAL INFORMATION

Suppliers :

· Kankariya Enterprises Private Limited

· Arihant Enterprises

· Borouge Pte Limited

· DIC India Limited

· Kankriya Agencies Private Limited

· Lakshmi Inks KKL. Private Limited

· Micro Poly Pack – CR

· Mysore Polypacks

Customers :

· Aachi Group of Company, Ambattur

· A F Exports

· Aachi Masala Foods Private Limited

· Achaya Spices

· Alliance Minerals Private Limited

· Arafa Food Products

· Aristo Plastic Industries

· B K Plastics

No. of Employees :

180 (Approximately)

Bankers :

· Corporation Bank, Mint Street Branch, Sowcarpet, Chennai - 600079, Tamil Nadu, India

· Industrial Development Bank of India Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Facilities :

Total Facilities Rs.470.000 Millions (From Corporation Bank)

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
HDFC Bank Limited – TATA Ace	0.000	0.135
Corporation Bank CC 9000	39.700	48.334
Term Loan - Corporation Bank	0.000	2.187
ICICI Bank Swift (LACHE00026501711)	0.555	0.000
ICICI Mahindra (LACHE00026505578)	1.309	0.000
Corporation Bank 120002	14.378	0.00
Demand Loan Corporation Bank	3.440	3.211
Term Loan A/ C 120001	56.080	0.000
Demand Loan Bank of Baroda	0.900	0.00
ICICI Bank – Civic	0.000	0.112
ICICI Bank Limited RITZ (628405011562)	0.402	0.612
Total	116.764	54.591

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Short-term borrowings
Loan from directors	0.281	2.385
Loan from others	3.166	2.632
Total	3.447	5.017

Banking Relations :
Auditors :
Name :	B P Jain and Company Chartered Accountants
Address :	2 Gee Minar, 23, College Road, Chennai – 600006, Tamilnadu, India
Sister Concern :	Mico Poly Pack Pondicherry

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
R Agar Chand	722265
R Suva Devi	70515
B Rangaraj	86265
R Naresh Kumar	761265
A Suraj Kumari	420015
M Saremal Jain	16515
S Jamku Devi	16515
N Sumithra	390000
A Sandhay	219600
Deekay Estate (Private) Limited, India	3000
Prabhav Industries	10000
Empower Industries India	10000
Khushi Industries Limited, India	10000
Total	2735955

As on 30.03.2012

Names of Allottees	No. of Shares
Avance Technologie Limited, India	5000
Empower Industries India Limited, India	50
Total	5050

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	90.00
Other top fifty shareholders	10.00
Total	100.00

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	27.410	27.410	27.310
(b) Reserves & Surplus	58.322	53.268	32.520
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	1.279	1.279	1.278
Total Shareholders’ Funds (1) + (2)	87.011	81.957	61.108
(3) Non-Current Liabilities
(a) long-term borrowings	116.764	54.591	39.745
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	51.454	45.169	47.835
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	168.218	99.760	87.580
(4) Current Liabilities
(a) Short term borrowings	3.447	5.017	4.508
(b) Trade payables	4.264	7.000	1.925
(c) Other current liabilities	3.014	1.568	7.090
(d) Short-term provisions	1.885	1.774	1.297
Total Current Liabilities (4)	12.610	15.359	14.820
TOTAL	267.839	197.076	163.508
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	72.970	45.772	45.005
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.038	0.288	0.000
(d) Long-term Loan and Advances	54.195	33.416	16.306
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	127.203	79.476	61.311
(2) Current assets
(a) Current investments	0.010	0.010	0.010
(b) Inventories	47.044	36.409	14.176
(c) Trade receivables	85.657	67.009	79.032
(d) Cash and cash equivalents	3.359	9.688	0.332
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	4.566	4.484	8.647
Total Current Assets	140.636	117.600	102.197
TOTAL	267.839	197.076	163.508

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	387.110	339.556	353.553
	Other Income	3.439	8.929	1.319
	TOTAL (A)	390.549	348.485	354.872
Less	EXPENSES
	Cost of Materials Consumed	318.000	276.254	294.276
	Employees benefits expense	22.782	16.269	12.460
	Other expenses	25.984	28.342	23.671
	Extraordinary items	0.000	0.000	0.003
	TOTAL (B)	366.766	320.865	330.410
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	23.783	27.620	24.462
Less	FINANCIAL EXPENSES (D)	10.230	10.844	7.935
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	13.553	16.776	16.527
Less/ Add	DEPRECIATION/ AMORTISATION (F)	6.078	5.627	5.534
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	7.475	11.149	10.993
Less	TAX (I)	2.421	0.401	4.134
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	5.054	10.748	6.859
	Earnings / (Loss) Per Share (Rs.)	1.840	3.920	2.510

Particulars	31.03.2014
Sales Turnover	470.000

The above information has been parted by Mr. Uma Maheshwari

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office / Factory:	55, The Vysarpadi Co Operative Industrial Estate, Vysarpadi, Chennai – 600039, Tamilnadu, India
Tel. No.:	91-44-25523925/25523965/28273871
Mobile No.:	91-9940100228 (Mr. Uma Maheshwari)
Fax No.:	91-44-25523307
E-Mail :	devchennai@sify.com accounts@micoplastindusties.com info@micoplastindustries.com
Website :	www.micoplastindustries.com
Area :	24,000 Sq ft
Location :	Owned

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.