MIRA INFORM REPORT

Report Date :

22.07.2014

IDENTIFICATION DETAILS

Name :	MAHARASHTRA ALDEHYDES AND CHEMICALS LIMITED
Registered Office :	Chandrermukhi Basement, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.05.1982
Com. Reg. No.:	11-027136
Capital Investment / Paid-up Capital :	Rs.20.256 Millions
CIN No.: [Company Identification No.]	U40104MH1982PLC027136
TAN No.: [Tax Deduction & Collection Account No.]	MUMM20605E
PAN No.: [Permanent Account No.]	AAACM3766
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of D.E.P. Products.
No. of Employees :	Not Divulged

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

Maximum Credit Limit :	USD 410000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating takes into consideration company’s improved financial risk profile and fair profitability levels of the company. Trade relations are fair. Business is active. Payment terms are reported to be 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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities=BB
Rating Explanation	Inadequate degree of safety and high credit risk.
Date	13.01.2014

Rating Agency Name	CARE
Rating	Short term bank facilities=A4
Rating Explanation	Minimal degree of safety and high credit risk.
Date	13.01.2014

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 DENIED

Management Non Co-operative (91-22-22851316)

LOCATIONS

Registered Office :	Chandrermukhi Basement, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22851316 / 22856089 / 22856090 / 49104444 / 49104421
Mobile No.:	91-98670 15940
Fax No.:	91-22-22850033 / 3752
E-Mail :	loil@laxmiorganic.co.in jayesh@laxmiorganic.co.in agl@dayalandlohia.com
Website :	http://www.laxmiorganic.co.in
Area :	1500 Sq. ft.
Location :	Owned
Factory :	A-17, M.I.D.C. , Mahada, Raigarh
Area :	27000 Sq. ft.
Location :	Leased

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Vasudeo Nathmal Goenka

Designation :

Director

Address :

242-C, Grand Paradi Apartments, A. K. Marg, Kemps Corner, Mumbai – 400036, Maharashtra, India.

Date of Birth/Age :

14.01.1940

Qualification :

B.com

Date of Appointment :

09.03.2002

DIN No.:

00059215

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	U27103MH1962PTC012335	THE QUALITY IRON AND STEEL WORKS PVT LTD	Director	29/04/1985	29/04/1985	21/06/2012	Active	NO
2	U45200MH1980PTC022503	M B LOHIA AND SONS PVT LTD	Director	29/04/1985	29/04/1985	-	Active	NO
3	U67120MH1981PLC119313	ANUGRAH INVESTMENTS LIMITED	Director	19/08/1986	19/08/1986	-	Active	NO
4	U24200MH1989PLC051736	LAXMI ORGANIC INDUSTRIES LIMITED	Director	15/05/1989	15/05/1989	-	Active	NO
5	U21012MH1990PTC055519	UNITY PAPERS PRIVATE LIMITED	Director	20/02/1990	20/02/1990	-	Active	NO
6	U65990MH1990PTC055631	BRADY INVESTMENTS PRIVATE LIMITED	Director	02/03/1990	02/03/1990	-	Active	NO
7	U67120MH1992PTC066415	SAMSUNG INVESTMENTS AND FINANCE PVT LTD	Director	25/04/1992	25/04/1992	-	Active	NO
8	U51900MH1986PTC038579	VENKATESH HOLDING AND MARKETING COMPANY PVT LTD	Director	25/04/1992	25/04/1992	-	Active	NO
9	U65990MH1994PTC079062	LAXMI CAPITAL SERVICES PRIVATE LIMITED	Director	17/06/1994	17/06/1994	-	Active	NO
10	U65920MH1993PTC071303	PEDESTAL FINANCE AND TRADING PRIVATE LIMITED	Director	28/09/1994	28/09/1994	-	Active	NO
11	U15400MH1999PLC118245	LAXMI BIOENERGIE LIMITED.	Director	09/02/1999	09/02/1999	-	Active	NO
12	U51103MH1988PTC047953	UPADRASTA AND SONS PRIVATE LIMITED	Director	01/12/1999	01/12/1999	-	Active	NO
13	U40104MH1982PLC027136	MAHARASHTRA ALDEHYDES AND CHEMICALS LTD	Director	09/03/2002	09/03/2002	-	Active	NO
14	U70100MH1995PTC094490	KRISHNA MEADOWS PRIVATE LIMITED	Director	24/04/2003	24/04/2003	-	Active	NO
15	U80220MH2003PTC142981	INTERNATIONAL KNOWLEDGE PARK PRIVATE LIMITED	Director	04/11/2003	04/11/2003	-	Active	NO
16	U45200MH1995PTC093492	AMRUTSAGAR CONSTRUCTIONS PRIVATE LIMITED	Director	01/12/2003	01/12/2003	-	Active	NO
17	U51900MH1991PTC060407	SHERRY EXPORTS PRIVATE LIMITED	Director	18/06/2004	18/06/2004	-	Active	NO
18	U51909MH2003PTC141211	STARSILVER MERCANTILE COMPANY PRIVATE LIMITED	Director	15/02/2006	15/02/2006	-	Active	NO
19	U65990MH1969PTC014328	R R INVESTMENTS AND ESTATES PRIVATE LIMITED	Director	03/03/2006	03/03/2006	-	Active	NO
20	U24114MH2004PTC021663	OJAS DYCEHEM (INDIA) PRIVATE LIMITED	Director	27/10/2006	27/10/2006	-	Active	NO
21	U15140MH1979PTC021371	CRESCENT OILS PRIVATE LIMITED	Director	27/10/2006	27/10/2006	-	Active	NO
22	U51900MH2000PTC124306	PILANI B.P.O. PRIVATE LIMITED	Additional director	29/03/2007	29/03/2007	-	Active	NO
23	U65990MH1995PTC090945	UNITY PORTFOLIO PRIVATE LIMITED	Director	08/01/2010	08/01/2010	-	Active	NO

Name :

Mr. Ravi Vasudeo Goenka

Designation :

Director

Address :

242-C, Grand Paradi Apartments, A. K. Marg, Kemps Corner, Mumbai – 400036, Maharashtra, India.

Date of Birth/Age :

11.02.1962

Qualification :

Engineer

Date of Appointment :

09.03.2002

DIN No.:

00059267

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	U67120MH1981PLC119313	ANUGRAH INVESTMENTS LIMITED	Director	09/06/1988	09/06/1988	-	Active	NO
2	U24200MH1989PLC051736	LAXMI ORGANIC INDUSTRIES LIMITED	Managing director	01/04/2012	15/05/1989	-	Active	NO
3	U21012MH1990PTC055519	UNITY PAPERS PRIVATE LIMITED	Director	20/02/1990	20/02/1990	-	Active	NO
4	U51900MH1991PTC060407	SHERRY EXPORTS PRIVATE LIMITED	Director	21/02/1991	21/02/1991	-	Active	NO
5	U51900MH1991PTC062767	HARSHVARDHAN IMPEX PRIVATE LIMITED	Director	01/08/1991	01/08/1991	-	Active	NO
6	U63023MH1994PTC079518	LAXMI TANK TERMINAL PRIVATE LIMITED	Director	08/07/1994	08/07/1994	-	Active	NO
7	U65920MH1993PTC071303	PEDESTAL FINANCE AND TRADING PRIVATE LIMITED	Director	28/09/1994	28/09/1994	15/12/2011	Active	NO
8	U70100MH1995PTC094490	KRISHNA MEADOWS PRIVATE LIMITED	Director	15/11/1995	15/11/1995	-	Active	NO
9	U45200MH1995PTC094489	AQUA MISCHIEF PRIVATE LIMITED	Director	15/11/1995	15/11/1995	-	Active	NO
10	U01122MH1995PTC084643	GAST FARMS PRIVATE LIMITED	Director	30/03/1996	30/03/1996	-	Active	NO
11	U65990MH1995PTC090945	UNITY PORTFOLIO PRIVATE LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
12	U92132MH1997PTC112256	POPCORN ENTERTAINMENT PRIVATE LIMITED	Director	04/12/1997	04/12/1997	14/08/2006	Active	NO
13	U15130MH1998PTC115829	LAXMI NATURAL PRODUCTS PRIVATE LIMITED	Director	17/07/1998	17/07/1998	-	Active	NO
14	U15400MH1999PLC118245	LAXMI BIOENERGIE LIMITED.	Director	09/02/1999	09/02/1999	-	Active	NO
15	U40104MH1982PLC027136	MAHARASHTRA ALDEHYDES AND CHEMICALS LTD	Director	09/03/2002	09/03/2002	-	Active	NO
16	U92132MH2002PTC137846	POPCORN MOTION PICTURES PRIVATE LIMITED	Director	13/11/2002	13/11/2002	14/08/2006	Active	NO
17	U45200MH1995PTC093492	AMRUTSAGAR CONSTRUCTIONS PRIVATE LIMITED	Director	23/01/2003	23/01/2003	-	Active	NO
18	U40300MH2000PLC128785	SUVAS HOLDINGS LIMITED	Director	30/06/2003	30/06/2003	-	Active	NO
19	U80220MH2003PTC142981	INTERNATIONAL KNOWLEDGE PARK PRIVATE LIMITED	Director	27/10/2004	27/10/2004	-	Active	NO
20	U17120MH2005PTC151280	FASHION BOLLYWOOD ISHTYLE APPARELS PRIVATE LIMITED	Director	01/03/2005	01/03/2005	30/05/2005	Active	NO
21	U51909MH2003PTC141211	STARSILVER MERCANTILE COMPANY PRIVATE LIMITED	Director	15/02/2006	15/02/2006	-	Active	NO
22	U15140MH1979PTC021371	CRESCENT OILS PRIVATE LIMITED	Director	27/10/2006	27/10/2006	-	Active	NO
23	U70101MH2006PTC165324	ARCH SHELTERS PRIVATE LIMITED	Director	01/11/2006	01/11/2006	-	Active	NO
24	U40106MH2006PTC166601	Enersun Power Tech Private Limited	Director	29/12/2006	29/12/2006	-	Active	NO
25	U24110MH2007PTC168517	BIOCELL TECHNOLOGY PRIVATE LIMITED	Director	09/03/2007	09/03/2007	08/05/2008	Active	NO
26	U24233MH2007PTC170041	CELLBION LIFESCIENCES PRIVATE LIMITED	Director	17/04/2007	17/04/2007	-	Active	NO
27	U92419MH2000PTC127618	DRISHTI ADVENTURE SPORTS PRIVATE LIMITED	Director	02/05/2007	02/05/2007	11/12/2007	Active	NO
28	U51909MH2008PTC186154	VARADVINAYAK MULTI-IMPEX PRIVATE LIMITED	Director	30/09/2009	25/06/2009	-	Active	NO
29	U24100MH2013PTC245226	VIVA LIFESCIENCES PRIVATE LIMITED	Director	04/07/2013	04/07/2013	-	Active	NO
30	U24233MH2013PTC245224	LAXMI LIFESCIENCES PRIVATE LIMITED	Director	04/07/2013	04/07/2013	-	Active	NO

Name :

Mr. Rajeev Vasudeo Goenka

Designation :

Director

Address :

242-C, Grand Paradi Apartments, A. K. Marg, Kemps Corner, Mumbai – 400036, Maharashtra, India.

Date of Birth/Age :

04.08.1967

Qualification :

M.B.A.

Date of Appointment :

09.03.2002

DIN No.:

00059346

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	U27200MH1989PTC050451	ALUMI PROFILES PRIVATE LIMITED	Director	24/01/1989	24/01/1989	-	Active	NO
2	U51900MH1991PTC062767	HARSHVARDHAN IMPEX PRIVATE LIMITED	Director	25/05/1993	25/05/1993	-	Active	NO
3	U67120MH1981PLC119313	ANUGRAH INVESTMENTS LIMITED	Director	23/07/1993	23/07/1993	-	Active	NO
4	U65990MH1994PTC079062	LAXMI CAPITAL SERVICES PRIVATE LIMITED	Director	17/06/1994	17/06/1994	-	Active	NO
5	U63023MH1994PTC079518	LAXMI TANK TERMINAL PRIVATE LIMITED	Director	08/07/1994	08/07/1994	-	Active	NO
6	U24200MH1989PLC051736	LAXMI ORGANIC INDUSTRIES LIMITED	Managing director	01/04/2012	12/08/1994	-	Active	NO
7	U65990MH1993PTC071307	MERTON FINANCE AND TRADING PRIVATE LIMITED	Director	28/09/1994	28/09/1994	-	Active	NO
8	U70100MH1995PTC094490	KRISHNA MEADOWS PRIVATE LIMITED	Director	15/11/1995	15/11/1995	-	Active	NO
9	U45200MH1995PTC094489	AQUA MISCHIEF PRIVATE LIMITED	Director	15/11/1995	15/11/1995	-	Active	NO
10	U24100MH1995PTC084561	HOSI CHEMICALS PRIVATE LIMITED	Director	30/03/1996	30/03/1996	-	Under Process of Striking off	NO
11	U65990MH1995PTC090945	UNITY PORTFOLIO PRIVATE LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
12	U65990MH1990PTC055631	BRADY INVESTMENTS PRIVATE LIMITED	Director	30/09/1997	30/09/1997	-	Active	NO
13	U15400MH1999PLC118245	LAXMI BIOENERGIE LIMITED.	Director	09/02/1999	09/02/1999	-	Active	NO
14	U40104MH1982PLC027136	MAHARASHTRA ALDEHYDES AND CHEMICALS LTD	Director	09/03/2002	09/03/2002	-	Active	NO
15	U40300MH2000PLC128785	SUVAS HOLDINGS LIMITED	Director	30/06/2003	30/06/2003	-	Active	NO
16	U80220MH2003PTC142981	INTERNATIONAL KNOWLEDGE PARK PRIVATE LIMITED	Director	04/11/2003	04/11/2003	-	Active	NO
17	U51900MH1991PTC060407	SHERRY EXPORTS PRIVATE LIMITED	Director	18/06/2004	18/06/2004	-	Active	NO
18	U24114MH2004PTC021663	OJAS DYCEHEM (INDIA) PRIVATE LIMITED	Director	27/10/2006	27/10/2006	-	Active	NO
19	U70101MH2006PTC165324	ARCH SHELTERS PRIVATE LIMITED	Director	01/11/2006	01/11/2006	-	Active	NO
20	U24233MH2007PTC170041	CELLBION LIFESCIENCES PRIVATE LIMITED	Director	18/08/2008	18/08/2008	-	Active	NO
21	U24100MH2013PTC245226	VIVA LIFESCIENCES PRIVATE LIMITED	Director	04/07/2013	04/07/2013	-	Active	NO
22	U24233MH2013PTC245224	LAXMI LIFESCIENCES PRIVATE LIMITED	Director	04/07/2013	04/07/2013	-	Active	NO

Name :

Mr. Aditi Rajeev Goenka

Designation :

Director

Address :

242-C, Grand Paradi Apartments, A. K. Marg, Kemps Corner, Mumbai – 400036, Maharashtra, India.

Date of Birth/Age :

26.08.1970

Date of Appointment :

20.06.2007

DIN No.:

00076916

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	U65990MH1993PTC071307	MERTON FINANCE AND TRADING PRIVATE LIMITED	Director	28/09/1994	28/09/1994	-	Active	NO
2	U24100MH1995PTC084561	HOSI CHEMICALS PRIVATE LIMITED	Director	30/03/1996	30/03/1996	-	Under Process of Striking off	NO
3	U40104MH1982PLC027136	MAHARASHTRA ALDEHYDES AND CHEMICALS LTD	Director	20/06/2007	20/06/2007	-	Active	NO

Name :

Mr. Sunil Kumar Gupta

Designation :

Director

Address :

242-C, Grand Paradi Apartments, A. K. Marg, Kemps Corner, Mumbai – 400036, Maharashtra, India.

Date of Birth/Age :

15.08.1964

Date of Appointment :

23.03.1993

DIN No.:

00059659

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	U40104MH1982PLC027136	MAHARASHTRA ALDEHYDES AND CHEMICALS LTD	Director	23/03/1993	23/03/1993	-	Active	NO
2	U67120MH1995PTC086738	OSRAM SECURITIES PRIVATE LIMITED	Director	11/04/1995	11/04/1995	-	Active	NO
3	U65990MH1995PTC090945	UNITY PORTFOLIO PRIVATE LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
4	U91120MH2003NPL143582	DHANVANTARI AROGYA SEVA SAMITI	Director	19/12/2003	19/12/2003	08/08/2011	Active	NO
5	U51909MH2003PTC141211	STARSILVER MERCANTILE COMPANY PRIVATE LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO
6	U70100MH1995PTC094490	KRISHNA MEADOWS PRIVATE LIMITED	Director	16/10/2010	16/10/2010	-	Active	NO
7	U51909MH2008PTC186154	VARADVINAYAK MULTI-IMPEX PRIVATE LIMITED	Director	30/09/2013	25/09/2012	-	Active	NO
8	U24233MH2007PTC170041	CELLBION LIFESCIENCES PRIVATE LIMITED	Director	30/09/2013	16/10/2012	-	Active	NO

Name :

Mr. Anilkumar Govindprasad Lohia

Designation :

Director

Address :

404 A, Meghdoot, New D.P. Road, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India.

Date of Birth/Age :

07.04.1956

Date of Appointment :

05.01.1994

DIN No.:

00358837

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	U51900MH1979PTC021175	NERA TRADERS PRIVATE LIMITED	Director	05/04/1979	05/04/1979	24/11/2008	Active	NO
2	U22219MH1976PTC019268	JANCO COMMERCIAL SERVICES PRIVATE LIMITED	Director	18/11/1979	18/11/1979	24/11/2008	Active	NO
3	U74140MH1984PTC033364	DAYAL AND LOHIA FINANCE CONSULTANTS PRIVATE LIMITED	Director	06/07/1984	06/07/1984	26/02/2008	Active	NO
4	U27103MH1962PTC012335	THE QUALITY IRON AND STEEL WORKS PVT LTD	Director	29/04/1985	29/04/1985	16/08/2013	Active	NO
5	U40104MH1982PLC027136	MAHARASHTRA ALDEHYDES AND CHEMICALS LTD	Director	05/01/1994	05/01/1994	-	Active	NO
6	U67190MH1994PTC079806	SYNCHROFIN SERVICES PRIVATE LIMITED	Director	22/07/1994	22/07/1994	-	Active	NO
7	U45200MH1995PTC087348	ARCH REALTORS PRIVATE LIMITED	Director	10/04/1995	10/04/1995	-	Active	NO
8	U74999MH2001PTC130980	EASYLINK AGENCIES AND SERVICES PRIVATE LIMITED	Director	23/02/2001	23/02/2001	-	Active	NO
9	U70101MH2006PTC165324	ARCH SHELTERS PRIVATE LIMITED	Director	01/11/2006	01/11/2006	-	Active	NO
10	U45200MH2005PTC156409	SAI PREM DEVELOPERS PRIVATE LIMITED	Director	10/09/2007	10/09/2007	-	Active	NO
11	L51900MH1983PLC029783	MODISON METALS LIMITED	Director	26/08/2008	28/04/2008	14/06/2013	Active	NO
12	U51109MH2009PTC190130	RADHARAMAN FIBRES PRIVATE LIMITED	Director	05/02/2009	05/02/2009	25/11/2013	Active	NO

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Equity Shareholders	No. of Shares
Rajjev Goenka	93525
Niharika Goenka	9000
Ravi Goenka HUF	105950
Brady Investment Private Limited	89250
Laxmi Capital Services Private Limited	166500
Ravi Goenka	13500
Avantika Goenka	42780
Rajendra Khemka	19500
Aditi Goenka	3545
Aryavrat Goenka	700
Harshwardhan Goenka	12175
Vasudeo Goenka Jointly with Rajeev Goenka	25
Anil Lohia Jointly with Rajeev Goenka	25
Sunil Gupta Jointly with Rajeev Goenka	25
Total	556500

Names of Preference Shareholders	No. of Shares
Rajeev Goenka	94610
Aditi Goenka	52300
Total	146910

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2013

Category	Percentage
Bodies corporate	45.96
Directors or relatives of Directors	50.54
Other top fifty shareholders	3.50
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of D.E.P. Products.
Products :	· Organic Acids · their anhydrides and acid halides · Esters and Salts of Organic acids. · Raw Materials for Pharmaceuticals · Chemicals for Cosmetics · Perfumery · Detergent and Soaps · Aroma Compounds · Essential Oils · Tri Methyl Hydro Quinone · Di Ethyl Oxalate · Laboratory Rea Gents

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· State Bank of India, Industrial Finance Branch, Cuffe Parade, World Trade Centre, Mumbai – 400005, Maharashtra, India

· Axis Bank Limited, Maker Chambers IV, Ground Floor, Nariman Point, Mumbai – 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Axis Bank Term Loan	0.000	3.025
Kotak Mahindra Private Limited – Car Loan	0.036	0.235
Short Term Borrowings
Cash Credit from Axis Bank Limited	83.410	77.233
Axis Bank Limited	4.530	3.056
Axis Bank Limited, Corporate Loan	0.000	10.198
Kotak Mahindra Private Limited – Car Loan	0.199	0.180
Total	88.175	93.927

Banking Relations :	--
Auditors :
Name :	Parekh Shah and Lodha Chartered Accountants
Address :	31-E, BKC Centre, Laxmi Industrial Estate, New Link Road, Andheri (East), Mumbai – 400053, Maharashtra, India
PAN No.:	AAHFP3202E
Associates :	· Laxmi Irganics Industries Limited · Brady Investment Private Limited · Alumi Profiles Private Limited · Varadvinayak Multi-Impex Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions
150000	Preference Shares	Rs.100/- each	Rs.15.000 Millions
	Total		Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
556500	Equity Shares	Rs.10/- each	Rs.5.565 Millions
146910	Preference Shares	Rs.100/- each	Rs.14.691 Millions
	Total		Rs.20.256 Millions

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	20.256	20.256	20.156
(b) Reserves & Surplus	82.807	73.460	61.712
(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)	103.063	93.716	81.868
(3) Non-Current Liabilities
(a) long-term borrowings	60.267	17.285	31.505
(b) Deferred tax liabilities (Net)	12.646	10.823	8.614
(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)	72.913	28.108	40.119
(4) Current Liabilities
(a) Short term borrowings	88.139	90.667	73.511
(b) Trade payables	68.672	82.363	48.192
(c) Other current liabilities	1.797	0.971	1.320
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	158.608	174.001	123.023
TOTAL	334.584	295.825	245.010
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	131.978	128.532	119.285
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	1.728	1.113	3.383
(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	1.362	1.395	1.250
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	135.068	131.040	123.918
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	45.006	52.898	39.630
(c) Trade receivables	103.852	73.005	52.379
(d) Cash and cash equivalents	3.443	6.002	1.310
(e) Short-term loans and advances	47.215	32.880	27.773
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	199.516	164.785	121.092
TOTAL	334.584	295.825	245.010

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	713.533	476.892	374.578
		Other Income	3.825	1.299	1.257
		TOTAL (A)	717.358	478.191	375.835
Less	EXPENSES
		Cost of Materials Consumed	597.360	407.095	297.512
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	15.250	(13.982)	(3.906)
		Employee Benefits Expenses	12.566	9.828	11.270
		Other Expenses	54.534	40.386	41.974
		TOTAL (B)	679.710	443.327	346.850
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		37.648	34.864	28.985
Less	FINANCIAL EXPENSES (D)		14.727	15.785	14.397
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.921	19.079	14.588
Less	DEPRECIATION/ AMORTISATION (F)		8.840	7.892	7.628
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		14.081	11.187	6.960
Less	TAX (H)		4.733	4.891	2.749
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		9.348	6.296	4.211
	Earnings Per Share (Rs.)		4.61	3.11	2.09

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.30	1.32	1.12
Net Profit Margin (PBT/Sales)	(%)	1.97	2.35	1.86
Return on Total Assets (PBT/Total Assets}	(%)	4.23	3.80	2.88
Return on Investment (ROI) (PBT/Networth)		0.14	0.12	0.09
Debt Equity Ratio (Total Debt /Networth)		1.44	1.15	1.28
Current Ratio (Current Asset/Current Liability)		1.26	0.95	0.98

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	20.156	20.256	20.256
Reserves & Surplus	61.712	73.460	82.807
Net worth	81.868	93.716	103.063
long-term borrowings	31.505	17.285	60.267
Short term borrowings	73.511	90.667	88.139
Total borrowings	105.016	107.952	148.406
Debt/Equity ratio	1.283	1.152	1.440

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	374.578	476.892	713.533
		27.314	49.622

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	374.578	476.892	713.533
Profit	4.211	6.296	9.348
	1.12%	1.32%	1.31%

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	Yes
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 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	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	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loans and Advances from Related Parties	15.231	14.025
Credit from Supplier	45.000	0.000
Total	60.231	14.025

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10340905	21/02/2014 *	195,100,000.00	AXIS BANK LIMITED	MAKER CHAMBERS IV, GROUND FLOOR,, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA,INDIA	B97490155

*Date of modification Charges

FIXED ASSETS:

· Leasehold Land

· Building

· Plant and Machinery

· Electrical Installation

· Motor Car

· Computer

· Office Equipment

· Lab Equipments

· Furniture

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.60.19
UK Pound	1	Rs.102.87
Euro	1	Rs.81.48

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KRN
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.