MIRA INFORM REPORT

Report Date :

20.06.2014

IDENTIFICATION DETAILS

Name :	ECO POLYFIBRES PRIVATE LIMITED
Registered Office :	Plot No.-92, Gali No. -3, Gurukul Industrial Area, Sarai, Faridabad – 121002, Haryana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.09.2011
Com. Reg. No.:	05-043774
Capital Investment / Paid-up Capital :	Rs.0.200 Million
CIN No.: [Company Identification No.]	U17200HR2011PTC043774
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of trade, assemble, manufacture, sell, buy, import, export, trade, repair, maintenance, design, fabricate or otherwise deal in all any type and or description or otherwise dealing in all or any type of fibers.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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 was established in the year 2005 as a proprietary concern with the name Eco Polyfibers and during 2011 it got converted into private limited. It is an established company having moderate track record. The company has progressed well during financial year 2013. It has achieved a decent turnover. However, profit margin of the company is low. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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.

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 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Raman Sharma
Designation :	Director
Contact No.:	91-9711430100
Date :	18.06.2014

LOCATIONS

Registered Office :	Plot No.-92, Gali No. 3, Gurukul Industrial Area, Sarai, Faridabad – 121002, Haryana, India
Tel. No.:	Not Available
Mobile No.:	91-9711430100 (Mr. Raman Sharma)
Fax No.:	Not Available
E-Mail :	raman_sh2005@yahoo.co.in ecopolyfibers@gmail.com
Website :	www.ecopolyfibers.com
Corporate Office :	1301 – A, Devika Tower – 6, 13^th Floor, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-41631301 / 41612878
Warehouse :	Plot No. 92, 12/6, Gali No. 3, Gurukul Industrial Area, Sarai, Faridabad – 121002, Haryana, India
Tel. No.:	91-129-2000537

DIRECTORS

As on 28.09.2013

Name :

Mr. Raman Sharma

Designation :

Director

Address :

House No. 1853/D-2/10, Govindpuri Extn. Kalkaji, New Delhi – 11009, India

Date of Birth/Age :

27.09.1982

Date of Appointment :

01.09.2011

DIN No.:

02177064

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	U51109HR2008PTC038029	RISHABHNATH TRADEX PRIVATE LIMITED	Director	12/06/2008	12/06/2008	25/11/2009	Active	NO
2	U51909DL2009PTC188455	SHRI SHAYAM INTERTRADE PRIVATE LIMITED	Director	16/03/2009	16/03/2009	12/02/2010	Active	NO
3	U51909DL2007PTC164732	Soumya Tradecom Private Limited	Director	30/09/2009	06/07/2009	11/09/2013	Active	NO
4	U24233DL2007PTC165518	SWASTIK LIFESCIENCE PRIVATE LIMITED	Director	30/09/2013	20/07/2009	-	Active	NO
5	U51909HR2009PTC043502	Roopam Exim Private Limited	Director	24/11/2009	24/11/2009	28/03/2014	Active	NO
6	U51909HR2008PTC038038	DELHI TRADEX PRIVATE LIMITED	Director	29/09/2010	27/12/2009	15/02/2011	Active	NO
7	U51900HR2010PTC039953	Amber Tradevision Private Limited	Director	12/01/2010	12/01/2010	29/03/2010	Active	NO
8	U55101DL2008PTC182816	DIOS HOSPITALITY PRIVATE LIMITED	Director	30/09/2010	01/07/2010	18/03/2013	Active	NO
9	U17210DL2010PLC209533	RANGOLI TEXFAB LIMITED	Director	19/10/2010	19/10/2010	-	Strike off	NO
10	U17200HR2011PTC043774	ECO POLYFIBRES PRIVATE LIMITED	Director	01/09/2011	01/09/2011	-	Active	NO

Name :

Mr. Vinod Kumar

Designation :

Director

Address :

C-1596, S G M Nagar, 22 Feet Road, Near Ashanand Public School, Faridabad – 121001, Haryana, India

Date of Birth/Age :

23.03.1986

Date of Appointment :

30.11.2012

DIN No.:

03089338

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	U51909HR2010PTC040734	Canopus International Private Limited	Director	22/06/2010	22/06/2010	11/09/2013	Active	NO
2	U17200HR2011PTC043774	ECO POLYFIBRES PRIVATE LIMITED	Director	30/11/2012	15/06/2012	-	Active	NO
3	U24233DL2007PTC165518	SWASTIK LIFESCIENCE PRIVATE LIMITED	Director	30/09/2013	26/08/2013	-	Active	NO

Name :

Mr. Neeraj Kumar Gulati

Designation :

Director

Address :

L-2, Ground Floor, lajpat Nagar – II, Delhi - 110024, India

Date of Birth/Age :

28.01.1951

Date of Appointment :

01.09.2011

DIN No.:

03499998

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	U17200HR2011PTC043774	ECO POLYFIBRES PRIVATE LIMITED	Director	01/09/2011	01/09/2011	-	Active	NO
2	U51502DL2012PTC240359	INSTECH INDIA SYSTEMS PRIVATE LIMITED	Managing director	17/08/2012	17/08/2012	-	Active	NO
3	U24211DL2012PTC242705	HUNTIN ORGANICS PRIVATE LIMITED	Director	26/03/2013	26/03/2013	-	Active	NO

MAJOR SHAREHOLDERS

As on 28.09.2013

Names of Shareholders	No. of Shares
Raman Sharma	10000
Vinod Kumar	10000
Total	20000

As on 30.11.2013

Names of Allottees	No. of Shares
Roopam Exim Private Limited, India	748900
Total	748900

As on 28.11.2013

Names of Allottees	No. of Shares
Raman Sharma	1000000
Vinod Kumar	250000
Total	1250000

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	To carry on the business of trade, assemble, manufacture, sell, buy, import, export, trade, repair, maintenance, design, fabricate or otherwise deal in all any type and or description or otherwise dealing in all or any type of fibers.
Imports :
Products :	Raw Material Finished Goods
Countries :	UAE China Taiwan
Terms :
Selling :	Depend
Purchasing :	Depend

GENERAL INFORMATION

Suppliers :	Fibers Plus India Limited
Customers :	Ascenders General Trading LLC
No. of Employees :	25 (Approximately)
Bankers :	Central Bank of India, Faridabad, Haryana, India Union Bank of India, Delhi, India

Banking Relations :	--
Auditors :
Name :	Devendra Prakash and Associates Chartered Accountants
Address :	1065 A, H B Colony, Sector-18, Faridabad – 121002, Haryana, India
Tel. No.:	91-129-2297005
E-Mail :	cadgarg@gmail.com
PAN No.:	AGYPG9443K

CAPITAL STRUCTURE

After 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2018900	Equity Shares	Rs.10/- each	Rs.20.189 Million

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs.0.200 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.200	0.200
(b) Reserves & Surplus	0.491	0.002
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	22.467	22.467
Total Shareholders’ Funds (1) + (2)	23.158	22.669
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.006	0.001
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.006	0.001
(4) Current Liabilities
(a) Short term borrowings	1.042	0.000
(b) Trade payables	20.935	0.000
(c) Other current liabilities	0.595	0.030
(d) Short-term provisions	0.197	0.001
Total Current Liabilities (4)	22.769	0.031
TOTAL	45.933	22.701
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.505	0.009
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	20.306
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.008
Total Non-Current Assets	0.505	20.323
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.583	0.000
(c) Trade receivables	36.638	2.054
(d) Cash and cash equivalents	1.368	0.324
(e) Short-term loans and advances	5.838	0.000
(f) Other current assets	0.001	0.000
Total Current Assets	45.428	2.378
TOTAL	45.933	22.701

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	102.026	2.054
		Other Income	0.348	0.000
		TOTAL	102.374	2.054
Less	EXPENSES		101.684	2.050
	PROFIT/(LOSS) BEFORE TAX		0.690	0.004
Less	TAX		0.201	0.002
	PROFIT/(LOSS) AFTER TAX		0.489	0.002
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.002	0.000
	BALANCE CARRIED TO THE B/S		0.491	0.002
	Earnings Per Share (Rs.)		24.46	0.11

Particulars	31.03.2014
Sales Turnover (Approximately)	370.000

The above information has been parted by Mr. Raman Sharma

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
PAT / Total Income	(%)	0.48	0.10
Net Profit Margin (PBT/Sales)	(%)	0.68	0.19
Return on Total Assets (PBT/Total Assets}	(%)	1.50	0.17
Return on Investment (ROI) (PBT/Networth)		0.03	0.00
Debt Equity Ratio (Total Debt /Networth)		0.04	0.00
Current Ratio (Current Asset/Current Liability)		2.00	76.71

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Share Capital	0.200	0.200
Reserves & Surplus	0.002	0.491
Share Application money pending allotment	22.467	22.467
Net worth	22.669	23.158
long-term borrowings	0.000	0.000
Short term borrowings	0.000	1.042
Total borrowings	0.000	1.042
Debt/Equity ratio	0.000	0.045

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	2.054	102.026
		4,867.186

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	2.054	102.026
Profit	0.002	0.489
	0.10%	0.48%

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	Yes
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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Loans and advances from related parties	1.042	0.000
Total	1.042	0.000

CORPORATE INFORMATION

The company is incorporated on 1^st day of September 2011 under the provision of companies act to carry on the business of trade, assemble, manufacture, sell, buy, import, export, trade, repair, maintenance, design, fabricate or otherwise deal in all any type and or description or otherwise dealing in all or any type of fibers.

NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.60.00
UK Pound	1	Rs.102.05
Euro	1	Rs.81.71

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.