MIRA INFORM REPORT

Report Date :

29.12.2014

IDENTIFICATION DETAILS

Name :	JUPITER ORGANICS PRIVATE LIMITED
Registered Office :	202, International Trade Centre, Majura Gate Char Rasta, Surat – 395 002, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.05.2006
Com. Reg. No.:	04-048277
Capital Investment / Paid-up Capital :	Rs.4.140 millions
CIN No.: [Company Identification No.]	U24112GJ2006PTC048277
IEC No.:	Not Available
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 :	Subject is engaged in trading of Chemicals.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile and low profitability margins of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. 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

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. Manish Shankarlal Sarda
Designation :	Director
Contact No.:	91-9374717720
Date :	27.12.2014

LOCATIONS

Registered Office :	202, International Trade Centre, Majura Gate Char Rasta, Surat – 395 002, Gujarat, India
Tel. No. :	Not Available
Mobile No. :	91-9374717720 (Mr. Manish Shankarlal Sarda)
Fax No. :	Not Available
E-Mail :	manishkumarsarda@gmail.com

DIRECTORS

AS ON 20.08.2014

Name :

Mr. Manish Shankarlal Sarda

Designation :

Director

Address :

206-B, Ajanta Park, Atop Nagar, Bhatar Road, Surat – 395 007, Gujarat, India

Date of Birth/Age :

15.01.1972

Date of Appointment :

17.05.2006

DIN No. :

00077524

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	U24112GJ2006PTC048277	JUPITER ORGANICS PRIVATE LIMITED	Director	17-05-2006	17-05-2006	-	Active	NO
2	U51909GJ2008PTC052538	RIDDHI SIDDHI ORGANICS PRIVATE LIMITED	Director	20-04-2010	20-04-2010	-	Active	NO

Name :

Mr. Pannechand Fatehchand Sarda

Designation :

Director

Address :

206-B, Ajanta Park, Atop Nagar, Bhatar Road, Surat – 395 007, Gujarat, India

Date of Birth/Age :

04.01.1956

Date of Appointment :

17.05.2006

DIN No. :

00087463

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	U24112GJ2006PTC048277	JUPITER ORGANICS PRIVATE LIMITED	Director	17-05-2006	17-05-2006	-	Active	NO
2	U51909GJ2008PTC052538	RIDDHI SIDDHI ORGANICS PRIVATE LIMITED	Director	20-04-2010	20-04-2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.08.2014

Names of Shareholders	No. of Shares
Pannechand Sarda	25000
Manish Sarda	25000
Manish Sarda RE: Manish Sarda - HUF	47000
Pannechand Sarda RE: Pannechand Sarda - HUF	47000
Suman Sarda	30000
Riddhi Siddhi Organics Private Limited, India	240000
Total	414000

AS ON 20.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	57.97
Directors or relatives of Directors	42.03
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in trading of Chemicals.
Products :	Chemicals
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS – NOT APPLICABLE

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 :

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 :

Information declined by the Management.

Bankers :

Banker Name	The Jammu and Kashmir Bank Limited
Branch Address	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	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

Banking Relations :	--
Auditors :
Name :	JPT and Associates Chartered Accountants
Address :	3049, Trade House, Ring Road, Surat – 395 002, Gujarat, India
Tel. No. :	91-261-2350007
E-Mail :	jaitaparia@yahoo.com
PAN No.:	ADLPT4552C
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Riddhi Siddhi Organics Private Limited, India (CIN No.: U51909GJ2008PTC052538)
Associates :	· Jupiter Chemicals · Sarda Chemical Corporation

CAPITAL STRUCTURE

AS ON 20.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
414000	Equity Shares	Rs.10/- each	Rs.4.140 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	4.140	4.140	4.140
(b) Reserves & Surplus	7.760	7.657	7.577
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	11.900	11.797	11.717
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.450
(b) Deferred tax liabilities (Net)	0.046	0.026	0.012
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.046	0.026	0.462
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	11.604	4.703	6.237
(c) Other current liabilities	0.000	0.000	0.236
(d) Short-term provisions	0.431	0.083	0.000
Total Current Liabilities (4)	12.035	4.786	6.473
TOTAL	23.981	16.609	18.652
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.006	5.067	5.130
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.950
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5.006	5.067	6.080
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.316	0.915	1.546
(c) Trade receivables	12.596	6.763	7.863
(d) Cash and cash equivalents	2.544	1.851	3.135
(e) Short-term loans and advances	2.519	2.013	0.028
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	18.975	11.542	12.572
TOTAL	23.981	16.609	18.652

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operation	41.234	32.243	28.751
		Other Income	0.155	0.085	0.298
		TOTAL	41.389	32.328	29.049
Less	EXPENSES
		Increase/ Decrease in Stock	41.172	32.147	(0.728)
		Purchases			26.598
		Administrative Expenses			2.191
		Selling Expenses			0.862
		TOTAL	41.172	32.147	28.923
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.217	0.181	0.126
Less	FINANCIAL EXPENSES		0.000	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.217	0.181	0.126
Less/ Add	DEPRECIATION/ AMORTISATION		0.060	0.063	0.025
	PROFIT/ (LOSS) BEFORE TAX		0.157	0.118	0.101
Less	TAX		0.054	0.037	0.038
	PROFIT/ (LOSS) AFTER TAX		0.103	0.081	0.063
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.337	0.257	0.194
	BALANCE CARRIED TO THE B/S		0.440	0.337	0.257
	Earnings / (Loss) Per Share (Rs.)		0.25	0.19	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.25	0.25	0.22
Operating Profit Margin (PBDIT/ Sales)	(%)	0.53	0.56	0.44
Return on Total Assets (PBT/Total Assets}	(%)	0.65	0.71	0.54
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.01
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.04
Current Ratio (Current Asset/Current Liability)		1.58	2.41	1.94

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	4.140	4.140	4.140
Reserves & Surplus	7.577	7.657	7.760
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	11.717	11.797	11.900
Long Term borrowings	0.450	0.000	0.000
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.450	0.000	0.000
Debt/Equity ratio	0.038	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from operation	28.751	32.243	41.234
		12.146	27.885

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from operation	28.751	32.243	41.234
Profit	0.063	0.081	0.103
	0.22%	0.25%	0.25%

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 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	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	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

THE YEAR IN RETROSPECT AND FUTURE OUTLOOK:

During the year, the turnover of the company has increased by approximately 28% as compared to previous year. The company has achieved turnover of Rs.41.234 millions as against Rs.32.243 millions of previous year. The Company has earned net profit after tax of Rs.0.103 million during the year. The directors are taking all necessary initiatives and are adapting sustainable marketing strategy to combat the current challenges and to further improve the performance of the Company

INDEX OF CHARGES

No Charges Exist for Company.

FIXED ASSETS:

· Shop

· Godown

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 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.63.64
UK Pound	1	Rs.98.98
Euro	1	Rs.77.74

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	NO
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.