MIRA INFORM REPORT

Report Date :

13.03.2014

IDENTIFICATION DETAILS

Name :	SPERRY PLAST LIMITED
Registered Office :	BM House, H – 88, Kirti Nagar, New Delhi – 110015
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.04.1992
Com. Reg. No.:	55-048504
Capital Investment / Paid-up Capital :	Rs.85.857 Millions
CIN No.: [Company Identification No.]	U25209DL1992PLC048504
TAN No.: [Tax Deduction & Collection Account No.]	DELS09441F
PAN No.: [Permanent Account No.]	AAACS2623L
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	To carry on the business of manufacturing, trading, imports, exports, deal process and distribute all kinds of chemicals, plastic P.V.C. Rubber, polypropylene goods, design moulds and allied products.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 2180000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears continuous dip in company’s profitability over a year. External borrowing of the company has increased during financial year 2013. However, trade relations are fair. Business is active. Payment terms are 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

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 DENIED BY

Name :	Mr. Chintamani
Designation :	Not Divulged
Contact No.:	91-11-25454063
Date :	12.03.2014

LOCATIONS

Registered Office/ Corporate Office :	BM House, H – 88, Kirti Nagar, New Delhi – 110015, India
Tel. No.:	91-11-25454063/ 25442310/ 25412717/ 51424370
Fax No.:	91-11-25455113/ 25117362/ 51424375
E-Mail :	dhananjaymgr@gmail.com cs@sperryplastlimited.net sperry@del2.vsnl.in marketing@sperryplastlimited.com info@sperryplaslimited.net accountsbg@sperryplastlimited.net riteshmalhotra@sperryplastlimited.net imm@sperryplastlimited.net adhesive@sperryplastlimited.net
Website :	http://www.sperryplastlimited.com http://www.sperryplastlimited.net
Factory 1 :	1121, M. I. E. Bahadurgarh – 124507, Haryana, Uttar Pradesh, India
Tel. No.:	91-1276-367154, 367552, 367553, 368040, 368552
Factory 2 :	Unit II, Plot No. 16, Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India
Factory 3 :	Lane No. 5, EPIP, Bari Brahmana, Jammu, Jammu Kashmir, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Vikram Jain

Designation :

Managing Director

Address :

A – 41 and 42, Kirti Nagar, New Delhi – 110015, India

Date of Birth/Age :

03.10.1969

Qualification :

Graduate

Date of Appointment :

01.10.2006

PAN No.:

AAAPJ3846R

DIN No.:

00110704

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	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Managing director	01/10/2006	28/04/1992	-	Active	NO
2	U45201DL2004PTC131298	SPERRY INTERNATIONAL PRIVATE LIMITED	Director	16/12/2004	16/12/2004	-	Active	NO
3	U45200DL2008PTC179845	SPERRY BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	20/06/2008	20/06/2008	-	Active	NO
4	U74899DL1982PTC013091	UTTAR BHARAT NEEL MANUFACTURING CO PRIVATE LIMITED	Additional director	05/10/2009	05/10/2009	-	Active	NO
5	U74140DL2010PTC203183	AMAZON CORPORATE SERVICES PRIVATE LIMITED	Director	26/05/2010	26/05/2010	20/11/2012	Active	NO
6	U74950DL1999PTC101225	VINEET THERMOPACK PRIVATE LIMITED	Director	21/06/2010	21/06/2010	-	Active	NO
7	U29300DL2011PTC215780	SPERRY HOME APPLIANCES PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
8	U74996DL2006PTC149782	Sperry Techno Solutions Private Limited	Director	30/09/2011	01/06/2011	-	Active	NO
9	U25200DL2013PTC250645	S. V. Technocrats Private Limited	Director	11/04/2013	11/04/2013	06/05/2013	Active	NO
10	U70109DL2013PTC259635	Sperry Infrastructure & Developers Private Limited	Director	28/10/2013	28/10/2013	-	Active	NO
11	U70101DL2013PTC259804	Sperry Estate Developers Private Limited	Director	01/11/2013	01/11/2013	-	Active	NO

Name :

Mr. Nawal Mal Jain

Designation :

Director

Address :

A – 41 and 42, Kirti Nagar, New Delhi – 110015, India

Date of Birth/Age :

07.11.1941

Qualification :

Graduate

Date of Appointment :

28.04.1992

DIN No.:

00235990

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	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	28/04/1992	28/04/1992	-	Active	NO
2	U45201DL2004PTC131298	SPERRY INTERNATIONAL PRIVATE LIMITED	Director	16/12/2004	16/12/2004	-	Active	NO
3	U74996DL2006PTC149782	Sperry Techno Solutions Private Limited	Director	16/06/2006	16/06/2006	-	Active	NO
4	U70109DL2006PTC150026	SPERRY REAL ESTATES PRIVATE LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
5	U74899DL1982PTC013091	UTTAR BHARAT NEEL MANUFACTURING CO PRIVATE LIMITED	Additional director	05/10/2009	05/10/2009	-	Active	NO
6	U24139DL2013PTC258421	Sperry Business Ventures Private Limited	Director	25/09/2013	25/09/2013	-	Active	NO
7	U74140DL2013PTC259468	Sperry Foundation Private Limited	Director	23/10/2013	23/10/2013	-	Active	NO
8	U70109DL2013PTC259635	Sperry Infrastructure & Developers Private Limited	Director	28/10/2013	28/10/2013	-	Active	NO
9	U70101DL2013PTC259804	Sperry Estate Developers Private Limited	Director	01/11/2013	01/11/2013	-	Active	NO

Name :

Shitul Dhirajlal Patel

Designation :

Director

Address :

303, Pushpak, 10th Road, JVPD Scheme, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

11.11.1964

Qualification :

BE/ MBA

Date of Appointment :

29.09.2007

DIN No.:

00506534

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	U45201GJ1980PTC003715	ADVANCE CONSTRUCTION COMPANY PRIVATE LIMITED	Whole-time director	21/01/1989	21/01/1989	-	Active	NO
2	U29290MH1992PTC067306	ADVANCE EQUIPMENT FINANCE PRIVATE LIMITED	Director	19/06/1992	19/06/1992	-	Active	NO
3	U26954MH1992PLC068841	ADVANCE PRECAST PRODUCTS LIMITED	Director	30/09/1992	30/09/1992	-	Active	NO
4	U45202MH1993PTC070885	ADVANCE HOUSING DEVELOPMENT PRIVATE LIMITED	Director	22/02/1993	22/02/1993	-	Active	NO
5	U45201DL2005PTC136501	AMRAPALI GREEN BUILDCON PRIVATE LIMITED	Director	20/05/2005	20/05/2005	01/04/2008	Active	NO
6	U70101DL2005PTC141852	ERA ADVANCE DEVELOPERS PRIVATE LIMITED	Director	18/10/2005	18/10/2005	-	Active	NO
7	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	29/09/2007	01/05/2007	-	Active	NO
8	U45200MH2007PTC172404	AABHA LAND PROJECTS PRIVATE LIMITED	Director	01/01/2008	01/01/2008	-	Active	NO
9	U70101DL2009PTC193609	PAN REALTORS PRIVATE LIMITED	Managing director	01/04/2013	26/08/2009	-	Active	NO
10	U45400DL2011PTC228032	EUPHORIA SPORTS CITY PRIVATE LIMITED	Director	28/11/2011	28/11/2011	-	Active	NO
11	U70200DL2013PTC254824	SAI NAMO NAMAH CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
12	U70109DL2013PTC254993	DEVSAI CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
13	U45200DL2013PTC255875	MISTIQUE CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
14	U45200DL2013PTC255911	SEIKOM INFRACOM PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
15	U45400DL2013PTC255871	MICRA INFRATECH PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
16	U45204DL2013PTC256535	CLOVER PROBUILD PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
17	U45200DL2013PTC256534	IRISH INFRASTRUCTURE PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
18	U45300DL2013PTC256843	PALM DEVELOPERS PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
19	U45400DL2013PTC256891	GODAVARI DWELLING PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
20	U45208DL2013PTC256890	FLORAL REALCON PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
21	U45201DL2013PTC256877	PINE PROBUILD PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
22	U45400DL2013PTC256967	MAPLE REALCON PRIVATE LIMITED	Director	27/08/2013	27/08/2013	-	Active	NO

Name :

Mr. Hemanshu Shah

Designation :

Director

Address :

R N 36, 4^th Floor, New Mumbadevi, CHS 48, Khadilkar Road, Girgaum, Mumbai – 400004, Maharashtra, India

Date of Birth/Age :

16.02.1973

Qualification :

Graduate

Date of Appointment :

30.09.2008

DIN No.:

02092440

KEY EXECUTIVES

Name :	Mr. Dhananjay Kumar
Designation :	Secretary
Address :	A – 5, II ND Floor, Shakarpur, Main Market, New Delhi – 110092, India
Date of Birth/Age :	01.06.1983
Date of Appointment :	15.06.2010
PAN No.:	BCIPK0899N

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares
Chander Mohan Gandhi	10
Sharda Gandhi	10
Seema Gandhi	10
Chaya Jain	10
Vikram Jain	4818938
Naina Jain	1421900
Nawal Mal Jain	423500
Damyanti Jain	821820
Speery Builders and Developers Private Limited, India	409800
Total	7895998

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	5.18
Directors or relatives of Directors	66.39
Other top fifty shareholders	28.43
Total	100.00

BUSINESS DETAILS

Line of Business :

To carry on the business of manufacturing, trading, imports, exports, deal process and distribute all kinds of chemicals, plastic P.V.C. Rubber, polypropylene goods, design moulds and allied products.

Products :

Product Description	Item Code No.
Wholesale Trade Services	99611111

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· State Bank of India, Industrial Complex Branch, Bahadurgarh - 124507, Haryana, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	102.329	292.793
Foreign currency term loans from banks	182.711	0.000
Term loans from others	8.577	9.361
Short Term Borrowings
Working capital loans from banks	722.517	596.263
Total	1016.134	898.417

Banking Relations :	--
Auditors :
Name :	GSK and Associates Chartered Accountants
Address :	8, 1St Floor, RaniJhansi Road, Motia Khan Industrial Area, New Delhi-110055, India
PAN No.:	AADFG5824B
Subsidiary Company :	· Sperry International Private Limited CIN No.: U45201DL2004PTC131298 · Vineet Thermopack Private Limited CIN No.: U74950DL1999PTC101225
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· VIkram Jain (HUF) · Amazon Corporate Services Private Limited CIN No.: U74140DL2010PTC203183 · UTTAR BHARAT NEEL MANUFACTURING Company Private Limited CIN No.: U74899DL1982PTC013091

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7895998	Equity Shares	Rs.10/- each	Rs.78.960 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8585658	Equity Shares	Rs.10/- each	Rs.85.857 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	85.857	78.960	78.960
(b) Reserves & Surplus	418.732	381.602	369.302
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	40.102	36.543	0.000
Total Shareholders’ Funds (1) + (2)	544.691	497.105	448.262
(3) Non-Current Liabilities
(a) long-term borrowings	571.625	564.804	487.354
(b) Deferred tax liabilities (Net)	89.025	74.361	53.865
(c) Other long term liabilities	1.980	1.696	0.000
(d) long-term provisions	0.000	0.000	2.768
Total Non-current Liabilities (3)	662.630	640.861	543.987
(4) Current Liabilities
(a) Short term borrowings	722.517	596.263	456.070
(b) Trade payables	450.292	302.241	221.483
(c) Other current liabilities	174.983	208.996	174.574
(d) Short-term provisions	4.950	2.220	17.518
Total Current Liabilities (4)	1,352.742	1,109.720	869.645
TOTAL	2,560.063	2,247.686	1,861.894
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1,079.860	966.873	718.967
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	100.692
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	38.832	32.940	32.989
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.697	11.667	13.201
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1,129.389	1,011.480	865.849
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	571.786	539.491	335.502
(c) Trade receivables	518.689	419.276	364.459
(d) Cash and cash equivalents	52.395	37.580	56.895
(e) Short-term loans and advances	281.286	233.341	237.221
(f) Other current assets	6.518	6.518	1.968
Total Current Assets	1,430.674	1,236.206	996.045
TOTAL	2,560.063	2,247.686	1,861.894

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		2,503.395	2,177.655	1632.240
		Other Income		12.151	20.917	13.924
		TOTAL (A)		2,515.546	2,198.572	1,646.164
Less	EXPENSES
		Cost of Materials Consumed		1,974.922	1,789.537	1229.540
		Purchase of Stock-in-trade		41.916	82.152	78.023
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(2.996)	(174.407)	(100.983)
		Employee Benefits Expenses		53.865	50.823	35.132
		Other Expenses		256.780	234.299	195.129
		TOTAL (B)		2,324.487	1,982.404	1,436.841
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			191.059	216.168	209.323
Less	FINANCIAL EXPENSES (D)			124.361	129.708	89.212
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			66.698	86.460	120.111
Less	DEPRECIATION/ AMORTISATION (F)			41.086	42.072	36.077
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			25.612	44.388	84.034
Less	TAX (H)			14.685	15.620	14.253
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			10.927	28.768	69.781
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	89.335	122.097	117.398
	TOTAL EARNINGS			89.335	122.097	117.398
	IMPORTS
			Raw Materials	700.451	549.552	NA
			Capital Goods	8.504	5.891	NA
	TOTAL IMPORTS			708.955	555.443	NA
	Earnings Per Share (Rs.)			1.38	3.64	8.84

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.43	1.31	4.24
Net Profit Margin (PBT/Sales)	(%)	1.02	2.04	5.15
Return on Total Assets (PBT/Total Assets}	(%)	1.02	2.00	4.86
Return on Investment (ROI) (PBT/Networth)		0.05	0.09	0.19
Debt Equity Ratio (Total Debt /Networth)		2.38	2.34	2.10
Current Ratio (Current Asset/Current Liability)		1.06	1.11	1.15

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	78.960	78.960	85.857
Reserves & Surplus	369.302	381.602	418.732
Share Application money pending allotment	0.000	36.543	40.102
Net worth	448.262	497.105	544.691
long-term borrowings	487.354	564.804	571.625
Short term borrowings	456.070	596.263	722.517
Total borrowings	943.424	1161.067	1294.142
Debt/Equity ratio	2.105	2.336	2.376

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	1,632.240	2,177.655	2,503.395
		33.415	14.958

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	1,632.240	2,177.655	2,503.395
Profit	69.781	28.768	10.927
	4.28%	1.32%	0.44%

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	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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	0.000	2.382
Rupee term loans from others	278.008	260.268
Total	278.008	262.650

OPERATION

During the year, the Company has performed below the targeted results in terms of turnover and profitability despite of its best effort. However the management is assure in itself that the better result will come in future keeping in view that Sperry Plast Limited is one of the Largest Thermo Plastic Rubber Compounds Company in India.

FUTURE PROSPECTS

The Companies vision to enter in the adhesives and diversified pipes business is in full swing its Greater Noida unit is performing well. Moreover, the unit at Jammu and Chennai are also performing well. The Bahadurgarh Plant is also performing upto mark. Being masters of Compounds & molding, now we have entered into manufacturing the complete range of pipes and fittings and adhesives for industrial uses.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10376502	22/05/2013 *	197,500,000.00	State Bank of India	Industrial Complex Branch, Bahadurgarh, Haryana - 124507, India	B79789939
2	10249505	26/05/2012 *	114,250,000.00	Kotak Mahindra Bank Limited	36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India	B40118879
3	90043507	05/07/2013 *	1,583,400,000.00	State Bank of India	Industrial Complex Branch, Bahadurgarh, Haryana - 124507, India	B79484614

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

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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.61.09
UK Pound	1	Rs.101.59
Euro	1	Rs.84.65

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.