MIRA INFORM REPORT

Report Date :

17.12.2014

IDENTIFICATION DETAILS

Name :	KKP PETCHEM PRIVATE LIMITED
Registered Office :	509, Acme Plaza, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.08.2012
Com. Reg. No.:	11-234114
Capital Investment / Paid-up Capital :	Rs.4.000 Millions
CIN No.: [Company Identification No.]	U74120MH2012PTC234114
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing, buying and selling, import, export of chemicals and solvents.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 11000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There are accumulated losses recorded by the company. However, trade relation are fair. Business is active. Payment terms are slow. The company can be considered for business dealing 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 DECLINED BY

Name :	Mr. Davesh
Designation :	Manager
Contact No.:	91-22-42226413
Date :	16.12.2014

LOCATIONS

Registered Office :	509, Acme Plaza, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-42226413
Fax No.:	Not Available
E-Mail :	kkk@hareshgroup.com
:	Plot No 582 to 584, New Area Kandla Special Economic Zone, Gandhidham – 30230, Gujarat, India

DIRECTORS

As on 30.09.2014

Name :

Kamla Kanayalal Kasat

Designation :

Director

Address :

4^th Floor, Plot No. 96, Road No. 3, Hindu Colony, Dadar, Mumbai - 400014, Maharashtra, India

Date of Birth/Age :

04.07.1953

Date of Appointment :

03.08.2012

DIN No.:

02941790

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	U24100MH2004PTC145264	HARESH PETROCHEM PRIVATE LIMITED	Director	20-04-10	20-04-10	-	Active	NO
2	U74120MH2012PTC234114	KKP Petchem Private Limited	Director	03-08-12	03-08-12	-	Active	NO

Name :

Poonam Kunal Kasat

Designation :

Director

Address :

4^th Floor, Plot No. 96, Road No. 3, Hindu Colony, Dadar, Mumbai - 400014, Maharashtra, India

Date of Birth/Age :

10.01.1980

Date of Appointment :

03.08.2012

DIN No.:

05312763

Name :

Kunal Kanayalal Kasat

Designation :

Director

Address :

4^th Floor, Plot No. 96, Road No. 3, Hindu Colony, Dadar, Mumbai - 400014, Maharashtra, India

Date of Birth/Age :

12.11.1981

Date of Appointment :

20.08.2012

DIN No.:

02943387

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	U24100MH2004PTC145264	HARESH PETROCHEM PRIVATE LIMITED	Director	20-04-10	20-04-10	-	Active	NO
2	U74120MH2012PTC234114	KKP Petchem Private Limited	Director	20-08-12	20-08-12	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Davesh
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Kamla Kanayalal Kasat	18000	45.00
Poonam Kunal Kasat	18000	45.00
Kunal Kanayalal Kasat	4000	10.00
Total	40000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, buying and selling, import, export of chemicals and solvents.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
--	--	--
--	--	--

Remark:

Not Divulged

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
--	--	--
--	--	--

Remark:

Not Divulged

No. of Employees :

Information declined by the management

Bankers :

DBS Bank Limited, 221, Fort House, 3rd Floor, D.N.Road, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Secured loans from DBS Bank (Secured by Charge on Present and Future Current Assets of Company )	2.880	0.000
Short-term borrowings
Secured loans from DBS Bank (Installments Due)	1.920	0.000
Total	4.800	0.000

Banking Relations :
Auditors :
Name :	D. M. Damle and Company Chartered Accountants
Address :	G2/106 Kalpita Enclave, Sahar Road, Andheri (East), Mumbai – 400069, Maharashtra, India
Mobile No.:	91-9930952570
E-Mail :	dmdamle@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AACPD5615L
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	NIL

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs. 4.0000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.000	0.100
(b) Reserves & Surplus	(0.056)	(0.059)
(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)	3.944	0.041
(3) Non-Current Liabilities
(a) long-term borrowings	7.530	1.390
(b) Deferred tax liabilities (Net)	0.016	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	7.546	1.390
(4) Current Liabilities
(a) Short term borrowings	1.920	0.700
(b) Trade payables	0.000	25.383
(c) Other current liabilities	2.672	1.309
(d) Short-term provisions	0.005	0.000
Total Current Liabilities (4)	4.597	27.392
TOTAL	16.087	28.823
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.958	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	3.864	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	2.594	2.501
Total Non-Current Assets	14.416	2.501
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.024	0.029
(c) Trade receivables	0.000	25.414
(d) Cash and cash equivalents	1.392	0.673
(e) Short-term loans and advances	0.255	0.206
(f) Other current assets	0.000	0.000
Total Current Assets	1.671	26.322
TOTAL	16.087	28.823

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Turnover	17.782	27.841
	Other Income	NA	NA
	TOTAL	NA	NA
Less	EXPENSES	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	0.024	(0.059)
Less	TAX	0.021	0.000
	PROFIT/ (LOSS) AFTER TAX	0.003	(0.059)
	Earnings / (Loss) Per Share (Rs.)	0.08	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	0.20	(0.20)
Return on Investment (ROI) (PBT/Networth)		0.01	(1.44)
Debt Equity Ratio (Total Debt /Networth)		2.40	50.98
Current Ratio (Current Asset/Current Liability)		0.36	0.96

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	0.100	4.000
Reserves & Surplus	(0.059)	(0.056)
Net worth	0.041	3.944
long-term borrowings	1.390	7.530
Short term borrowings	0.700	1.920
Total borrowings	2.090	9.450
Debt/Equity ratio	50.976	2.396

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Turnover	27.841	17.782
		(36.130)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Turnover	27.841	17.782
Profit	(0.059)	0.003
	(0.21%)	0.02%

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	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	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

BACKGROUND:

The company was incorporated on 23/08/2012 wide registration no: U74120MH2012PTC234114. The company has been registered at SEZ unit at Kandla and engaged in manufacturing, buying and selling, import, export of chemicals & solvents. The commercial operations commenced on 16/01/2013.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Unsecured loans from directors	4.650	1.390
Short-term borrowings
From Directors and their relatives	0.000	0.700
Total	4.650	0.700

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10453420	18/09/2013	10,000,000.00	DBS BANK LTD	221, FORT HOUSE, 3RD FLOOR, D.N.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B86796935

FIXED ASSETS

• Building
• Electrical Installations
• Capital WIP

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.63.41
UK Pound	1	Rs.99.30
Euro	1	Rs.79.00

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--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	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		26

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.