MIRA INFORM REPORT

Report Date :

15.12.2014

IDENTIFICATION DETAILS

Name :	DELTA IMPEX
Registered Office :	Gupta Compound Gala No. Me 1/1, Mayashree Weight, Bridge Anjur Bhiwandi, Mumbai, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	October 2010
Capital Investment / Paid-up Capital :	Rs. 5.121 Millions
IEC No.:	Not Available
TIN No.:	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader and importer of plastic granules and other coating materials
No. of Employees :	3 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are usually correct. The concern can be considered for business 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.

EXTERNAL AGENCY RATING

Not Available

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Vyas
Designation :	Consultant
Contact No.:	91-9820795288
Date :	20.11.2014

LOCATIONS

Registered Office/ Warehouse :	Gupta Compound Gala No. Me 1/1, Mayashree Weight, Bridge Anjur Bhiwandi, Mumbai, Maharashtra, India
Tel. No.:	91-22-25918536
Mobile No.:	91-9820795288(Mr. Nagda)
Fax No.:	Not Available
E-Mail :	detaimpexy@gmail.com

SOLE PROPRIETOR

Name :	Mr. Laxmichand Nagda
Designation :	Proprietor

KEY EXECUTIVES

Name :	Mr. Vyas
Designation :	Consultant

BUSINESS DETAILS

Line of Business :	Trader and importer of plastic granules and other coating materials
Products :	Not Available
Brand Names :	---
Agencies Held :	---
Exports :	Not Available
Imports :
Products :	Finished goods
Countries :	USA Singapore Qutar Saudi Arabia
Terms :
Selling :	Cash and L/C
Purchasing :	Cash and L/C

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Retailers and Others

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

3 (Approximately)

Bankers :

Banker Name :	Oriental bank of commerce
Branch Address :	P.K. Road, Mulund, Mumbai, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	S.K. Rambhia and Company Chartered Accountant
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates/Subsidiaries :	Not Divulged
Sister concern :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2014

Capital Investment :
Owned :	Rs. 5.121 Millions
Borrowed :	--
Total :	Rs. 5.121 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietor Capital		5.121	5.172
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		5.121	5.172
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		5.800	1.500
TOTAL BORROWING		5.800	1.500
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		10.921	6.672
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.922	1.039
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Deposit for Godown	4.187	0.018
	Fixed Deposit	0.000	4.334
	Sundry Debtors	18.986	8.001
	Stock in Hand	1.573	12.279
	Cash & Bank Balances	0.033	0.010
	Cash in hand	0.420	0.364
	Loans & Advances	2.730	0.490
	Advances to Creditor	3.581	0.192
	Prepaid Expenses	0.022	0.000
	Receivable	0.295	0.000
Total Current Assets		31.827	25.688
Less : CURRENT LIABILITIES & PROVISIONS
	Duties and Taxes	0.122	0.311
	Salary Payable	18.892	0.005
	Bank Account	2.814	0.010
	Bank A/c	0.000	4.484
	Letter of Credit	0.000	15.245
Total Current Liabilities		21.828	20.055
Net Current Assets		9.999	5.633
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		10.921	6.672

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	86.090	60.333
		Other Income	0.297	0.236
		TOTAL	86.387	60.569
Less	EXPENSES
		Cost of goods sold	83.345	57.073
		Advertisement and publicity	0.000	0.021
		Bank charges	0.105	0.077
		Bank interest	0.484	0.679
		Computer expenses	0.015	0.014
		Conveyance expenses	0.016	0.008
		Dr. Crs. Written Off	0.000	0.001
		Discounting charges on Lc	0.000	0.149
		Exchange difference	0.301	0.910
		Insurance	0.055	0.127
		Interest on late payment of TDS	0.000	0.000
		Interest on loan	0.092	0.018
		Interest on late payment of sale tax	0.061	0.000
		L/C Charges	0.605	0.322
		Legal expenses	0.005	0.000
		Motor car expenses	0.120	0.062
		Printing and stationery	0.000	0.000
		Professional fees	0.094	0.055
		Rent	0.072	0.072
		Digital signature charges	0.000	0.000
		Salary	0.289	0.244
		Sundry expenses	0.023	0.008
		Custom clearing	0.014	0.036
		Helmajuri	0.091	0.000
		TOTAL	85.787	59.876
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.600	0.693
Less/ Add	DEPRECIATION/ AMORTISATION		0.225	0.098
	NET PROFIT		0.375	0.595

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.44	0.99
Return on Total Assets (PBT/Total Assets}	(%)	1.17	2.31
Return on Investment (ROI) (PBT/Networth)		0.07	0.11
Debt Equity Ratio (Total Debt /Networth)		1.13	0.29
Current Ratio (Current Asset/Current Liability)		1.45	1.28

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	5.172	5.121
Reserves & Surplus	0.000	0.000
Net worth	5.172	5.121
long-term borrowings	1.500	5.800
Short term borrowings	0.000	0.000
Total borrowings	1.500	5.800
Debt/Equity ratio	0.290	1.133

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	60.333	86.090
		42.691

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	60.333	86.090
Profit	0.595	0.375
	0.99%	0.44%

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	No
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

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] 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.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	RSM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.