MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	ONWARD CHEMICALS PRIVATE LIMITED

Country :	India

Financials (as on) :	31.03.2013

TAN No.: [Tax Deduction & Collection Account No.]	MUMO01924G

PAN No.: [Permanent Account No.]	AAACO1770A

Legal Form :	Distributor and Importer of Specialty Chemicals.

No. of Employees :	Information declined by the management.

BUSINESS DETAILS

Line of Business :	Distributor and Importer of Specialty Chemicals.

Imports :
Products :	Finished Goods
Countries :	China

Terms :
Selling :	L/C and Credit

Purchasing :	L/C and Credit

PERFORMANCE:

During the year the Company has made a profit of Rs.2.604 Millions after providing for depreciation of Rs.1.476 Million and Taxation of Rs.1.414 Millions.

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

Bank of Baroda, Chandavarkar Road Branch, 309, Chandavarkar Road, Matunga (Central Railways), Mumbai – 400019, Maharashtra, India

Facilities :

SECURED LOAN

Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Long term borrowing
Car loan
From bank (the vehicle loans from the banks and others are secured by hypothecation of specified vehicles against which the finance is obtained)	1.976	4.584

Short term borrowing
The bank overdraft (the bank overdraft are secured by hypothecation of against stock and debtors of the company)	47.172	17.466
Buyer’s credit (the buyers credit from the banks are hypothecation of against stock and debtors of the company)	0.000	18.518

Total	49.148	40.568

UNSECURED LOAN


Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Long term borrowing
From related parties	1.539	0.500
Deposit	0.084	0.084
Short term borrowing
From related parties	0.00	4.679
Total	1.623	5.263


Banking Relations :	--

Auditors :
Name :	R. P. Ladho and Associates Chartered Accountants
Address :	408/410, Rewa Chember, Marine Lines, Mumbai – 400 020, Maharashtra, India
Tel. No.:	91-22-22005656
Fax No.:	91-22-22095656
E-Mail :	rpladdha@hotmail.com
PAN No.:	AAAPR7669E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2013

Name of Shareholders		No. of Shares
Amit Tibrewala		73000
Rajesh Tibrewala		1000
Panadevi Tibrewala		1000
Shyam Sunder Tibrewala		130000
Total		205,000

Equity Share Break up (Percentage of Total Equity)

AS ON: 30.09.2013

Category		Percentage

Directors or relatives of directors		100.00
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	2.050	2.050	2.050
(b) Reserves & Surplus	25.300	22.645	17.866
(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)	27.350	24.695	19.916

(3) Non-Current Liabilities
(a) long-term borrowings	3.599	5.169	0.500
(b) Deferred tax liabilities (Net)	0.274	0.221	0.133
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.202	0.158	0.100
Total Non-current Liabilities (3)	4.075	5.548	0.733

(4) Current Liabilities
(a) Short term borrowings	47.172	40.662	3.267
(b) Trade payables	11.762	7.559	12.248
(c) Other current liabilities	7.824	5.369	2.262
(d) Short-term provisions	1.705	0.091	0.000
Total Current Liabilities (4)	68.463	53.681	17.777

TOTAL	99.888	83.924	38.426

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.899	14.510	6.297
(ii) Intangible Assets	0.043	0.051	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	0.357	0.216	0.215
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.708	0.408	0.125
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	15.007	15.185	6.637

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	22.109	24.956	3.386
(c) Trade receivables	50.171	31.801	12.877
(d) Cash and cash equivalents	2.472	6.927	13.926
(e) Short-term loans and advances	7.486	4.040	0.400
(f) Other current assets	2.643	1.015	1.200
Total Current Assets	84.881	68.739	31.789

TOTAL	99.888	83.924	38.426

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	201.779	232.653	216.760
		Other Income	1.450	0.899	1.000
		TOTAL	203.229	233.552	217.760

Less	EXPENSES
		Purchases / purchase of stock in trade	124.026	174.879	149.470
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	2.846	(21.559)	0.000
		Employees benefits expense	8.208	5.721	0.000
		Other expenses	53.171	59.363	0.000
		Custom Duty and DEPB License	0.000	0.000	32.567
		Administrative Expenses	0.000	0.000	20.265
		Increase/Decrease in Stock	0.000	0.000	2.453
		TOTAL	188.251	218.404	204.755

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		14.978	15.148	13.005

Less	FINANCIAL EXPENSES		8.851	7.431	6.047

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		6.127	7.717	6.958

Less/ Add	DEPRECIATION/ AMORTISATION		1.476	0.748	0.321

	PROFIT BEFORE TAX, EXTRA ORDINARY ITEMS		4.651	6.969	6.637

Less/ Add	EXTRA ORDINARY ITEMS		0.569	0.000	0.000

	PROFIT BEFORE TAX		4.082	6.969	6.637

Less	TAX		1.478	2.190	2.067

	PROFIT AFTER TAX		2.604	4.779	4.570

Less	PRIOR PERIOD ADJUSTMENT		0.000	0.000	0.159

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		22.195	17.416	13.005

	BALANCE CARRIED TO THE B/S		24.799	22.195	17.416

	EARNINGS IN FOREIGN CURRENCY
		Commission Earnings	0.000	0.000	0.004
	TOTAL EARNINGS		0.000	0.000	0.004

	Earnings Per Share (Rs.)		12.70	23.31	21.52

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 109400

Status :	Satisfactory

Payment Behaviour :	Usually 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 :	No 11, Creative Industrial Estate, N. M. Joshi Marg, Lower Parel (East), Mumbai – 400 011, Maharashtra, India
Tel. No.:	91-22-23012929 / 40546474
Fax No.:	91-22-23003030 / 40546400
E-Mail :	info@onwardchem.com import@eximcorp.com info@eximcorp.com mariam@eximcorp.com healthguard@eximcorp.com accounts@eximcorp.com accounts2@eximcorp.com
Website :	www.eximcorp.com http://onwardchem.com
Area :	1550 sq ft
Location :	Owned


Branch Office 1:	2, 3, 4, A.S. Complex Pandur Village Pandur, Tiruvalluvar – 631203, Tamilnadu, India
Tel. No.:	91-44-27650399
Fax. No.:	91-44-27650400
E-Mail :	chennai@onwardchem.com

Branch Office 2:	18A/1, Ground Floor, DLF Industrial Area, Phase I, Delhi NCR – 121003, India
Tel. No.:	91-129-4113366/ 4113377
E-Mail :	delhi@onwardchem.comm

Branches :	Located at · Chennai · Haryana

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.