MIRA INFORM REPORT

Report Date :

18.03.2014

IDENTIFICATION DETAILS

Name :	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED (w.e.f. 25.08.2006)
Formerly Known As :	SRI DISTIKEMI PRIVATE LIMITED
Registered Office :	Shubham Navin Nagar Road, Sangamner – 422605, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	07.11.2003
Com. Reg. No.:	11-018532
Capital Investment / Paid-up Capital :	Rs.14.157 Millions
CIN No.: [Company Identification No.]	U24114PN2003PTC018532
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Chemical.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 420000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear (Mumbai case site not working)
Comments :	Subject is an established company having satisfactory track. Management of the company has filed its financials for the year 2013 but the same could not be made available with the government department. As per available financial 2012, financial position of the company seems to be decent. However, trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealing 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 – 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	17.02.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3+
Rating Explanation	Have moderate degree of safety and carry higher credit risk
Date	17.02.2014

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 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Shridhar
Designation :	Accounts Executive
Contact No.:	91-20-26899953

LOCATIONS

Registered Office :	Shubham Navin Nagar Road, Sangamner – 422605, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	accounts@cleanscience.co.in purchase@cleanscience.co.in finance@cleanscience.co.in
Website :	www.cleanscience.co.in
Location :	Owned
Corporate Office :	Office No. 503, 5th Floor, Pentagon Tower 4, Magarpatta Road, Hadapsar, Pune – 411028, Maharashtra, India
Tel. No.:	91-20-26899953
Fax No.:	91-20-26898894
E-Mail :	sales@cleanscience.co.in
Administrative Office :	Flat No.: 1, 46/8, above Pasty Corner, Law College Road, Nal Stop, Erandwane, Pune – 411004, Maharashtra, India
Tel. No.:	91-20-25450149
Fax No.:	91-20-25457600
E-Mail :	mailsales@cleanscience.co.in
Factory :	Plot No. D-28, MIDC, Kurkumbh, District Pune – 413802, Maharashtra, India

DIRECTORS

As on 30.09.2013

Name :

Mr. Pradeep Ramwilas Rathi

Designation :

Director

Address :

2, Boat Club Road, Pune – 411001, Maharashtra, India

Date of Birth/Age :

20.05.1953

Date of Appointment :

15.12.2006

DIN No.:

00018577

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	U70101WB1988PTC045839	GPSK CAPITAL PRIVATE LIMITED	Director	27/02/1995	27/02/1995	-	Active	NO
2	L74999MH1995PLC087643	LAHOTI OVERSEAS LIMITED	Director	02/06/1995	02/06/1995	07/02/2014	Active	NO
3	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Managing director	08/11/1995	08/11/1995	-	Active	NO
4	L24100MH1972PLC016149	THIRUMALAI CHEMICALS LIMITED	Director	27/07/1999	27/07/1999	17/09/2013	Active	NO
5	U51909PN1999PLC014039	RATHI BROTHERS POONA LIMITED	Director	01/10/1999	01/10/1999	-	Active	NO
6	U51909PN2000PLC015170	RATHI BROTHERS CALCUTTA LIMITED	Director	01/08/2000	01/08/2000	-	Active	NO
7	U51909PN2000PLC015169	RATHI BROTHERS MADRAS LIMITED	Director	01/08/2000	01/08/2000	-	Active	NO
8	U51909PN2002PLC016869	RATHI BROTHERS DELHI LIMITED	Director	01/04/2002	01/04/2002	-	Active	NO
9	U17119MH1940PTC003210	RATHI BROTHERS PRIVATE LIMITED	Director	22/03/2003	22/03/2003	-	Active	NO
10	U28939PN1996PTC098813	I.W.TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	29/09/2003	29/09/2003	31/05/2013	Active	NO
11	U24118MH1975PLC018631	RIECO INDUSTRIES LIMITED	Director	29/09/2003	29/09/2003	-	Active	NO
12	U24229PN2006PLC128651	PRESCIENT COLOR LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
13	U65910PN1982PTC026387	PRR FINANCE PVT LTD	Director	27/06/2006	27/06/2006	-	Active	NO
14	U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	Director	15/12/2006	15/12/2006	-	Active	NO
15	U13000PN1998PTC013000	RATHI MIXERS PRIVATE LIMITED	Director	12/03/2007	12/03/2007	-	Active	NO
16	L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	Director	27/07/2007	12/04/2007	-	Active	NO
17	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	10/05/2007	10/05/2007	-	Active	NO
18	U24100PN2008PTC132573	RATHI ENTERPRISES PRIVATE LIMITED	Director	06/08/2008	06/08/2008	-	Active	NO
19	U29299PN2008PTC132660	RATHI VESSELS AND SYSTEMS PRIVATE LIMITED	Director	21/08/2008	21/08/2008	-	Active	NO
20	U92100MH2002PLC137947	BHARAT BUSINESS CHANNEL LIMITED	Director	11/10/2012	11/10/2012	-	Active	NO

Name :

Mr. Sanjay Kothari

Designation :

Director

Address :

Flat No.1402, 14^th Floor, Gundecha Garden, D-wing, Bombay gas Compound, Lalbaug, Mumbai – 400012, Maharashtra, India

Date of Birth/Age :

04.11.1963

Date of Appointment :

29.09.2010

DIN No.:

00258316

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	L65910MH1991PLC062067	FORTUNE FINANCIAL SERVICES (INDIA) LIMITED	Director	28/08/2010	28/03/2003	05/02/2013	Active	NO
2	U67120MH1995PLC089509	SOUND CAPITAL MARKETS LIMITED	Director	13/10/2003	13/10/2003	-	Active	NO
3	U65999WB1994PLC065635	CHARTERED FINANCE & LEASING LTD.	Director	08/10/2004	08/10/2004	-	Active	NO
4	U72200MH1989PTC055436	SYSTEM INTERNATIONAL PRIVATE LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
5	U51909MH2005PTC155915	PUNDRIKAKSH TRADING PRIVATE LIMITED	Director	06/09/2005	06/09/2005	-	Amalgamated	NO
6	U51909MH2005PTC155970	ANANTROOP FINANCIAL ADVISORY SERVICES PRIVATE LIMITED	Director	09/09/2005	09/09/2005	-	Active	NO
7	U51909MH2005PTC156476	SAKSHINE TRADING PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Amalgamated	NO
8	U51909MH2005PTC156571	AKSHRAY TRADING PRIVATE LIMITED	Director	06/10/2005	06/10/2005	-	Amalgamated	NO
9	U51990MH2006PTC158991	BRIJKISHOR TRADING PRIVATE LIMITED	Director	18/01/2006	18/01/2006	28/09/2009	Active	NO
10	U67120MH2006PTC158972	DWARKADHISH TRADING PRIVATE LIMITED	Director	18/01/2006	18/01/2006	-	Active	NO
11	U51900MH2006PTC159140	KAIZEN ADVISORY SERVICES PRIVATE LIMITED	Director	20/01/2006	20/01/2006	07/05/2007	Active	Yes
12	U74140MH2006PLC164912	RADHA MADHAV ADVISORY SERVICES LIMITED	Whole-time director	26/10/2006	26/10/2006	-	Amalgamated	NO
13	U65990MH1980PLC023151	GACL FINANCE LIMITED	Director	04/12/2006	04/12/2006	16/07/2007	Active	NO
14	U85101MH1996PTC100446	HOSMAC INDIA PRIVATE LIMITED	Director	26/12/2006	26/12/2006	16/03/2012	Active	NO
15	U70102MH2007PTC171537	MADHAV REALTY HOLDINGS PRIVATE LIMITED	Director	11/06/2007	11/06/2007	29/12/2008	Active	NO
16	U67190MH2007PTC171659	DCA HOLDINGS PRIVATE LIMITED	Director	14/06/2007	14/06/2007	29/12/2008	Active	NO
17	U65993MH2007PTC173589	BRIJRAJ HOLDINGS PRIVATE LIMITED	Director	29/08/2007	29/08/2007	29/12/2008	Active	NO
18	U65993MH2007PTC173588	NILYAM HOLDINGS PRIVATE LIMITED	Director	29/08/2007	29/08/2007	29/12/2008	Active	NO
19	U74140KA2006PTC040410	iRunway India Private Limited	Alternate director	19/09/2007	19/09/2007	19/12/2007	Active	NO
20	U67120MH2007PTC174411	GOPI VALLABH HOLDINGS PRIVATE LIMITED	Director	24/09/2007	24/09/2007	29/12/2008	Active	NO
21	U80904MH2007PTC174410	Knowledge & Talent Hub Private Limited	Director	24/09/2007	24/09/2007	29/12/2008	Active	NO
22	U67120MH2007PTC174455	MADHURIMA INTERNATIONAL PRIVATE LIMITED	Director	25/09/2007	25/09/2007	29/12/2008	Active	NO
23	U65923MH1995PTC088811	SIDDHESH CAPITAL MARKET SERVICES PRIVATE LIMITED	Additional director	29/07/2008	29/07/2008	29/12/2008	Active	NO
24	U72200TN2000PTC044560	SHRIRAM PROPERTIES Private Limited	Additional director	18/12/2013	29/09/2009	-	Active	NO
25	U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	Director	29/09/2010	20/12/2009	-	Active	NO
26	L02101KA1955PLC001936	THE WEST COAST PAPER MILLS LIMITED	Director	31/07/2010	27/01/2010	-	Active	NO
27	U74210MH2002PTC136510	SINGHI ADVISORS Private LIMITED	Director	19/08/2010	08/07/2010	21/11/2011	Active	NO
28	U67190MH2010PTC207790	Golden Quadrilateral Financial Advisory Services Private Limited	Director	17/09/2010	17/09/2010	-	Active	NO
29	U67190MH2007PTC172555	PARTHASARATHI FINANCIAL ADVISORY SERVICES PRIVATE LIMITED	Director	30/09/2011	24/07/2011	-	Active	NO
30	U74120MH1994PLC077946	INTIME EQUITIES LIMITED	Director	25/08/2012	01/08/2011	10/05/2013	Active	NO
31	U67190MH2007PLC175180	Fortune Credit Capital Limited	Director	01/08/2011	01/08/2011	09/02/2012	Active	NO
32	L51109WB1934PLC088167	J L MORISON (INDIA) LIMITED	Director	13/09/2012	05/08/2011	-	Active	NO
33	U74900MH2011PTC221786	Kartavya Financial Advisory Services Private Limited	Director	10/09/2011	10/09/2011	-	Active	NO
34	U74900MH2013PTC241289	Parthasarathi Investment Advisors Private Limited	Director	25/03/2013	25/03/2013	-	Active	NO
35	U74900MH2013PTC241371	Tathastu Financial Advisory Services Private Limited	Director	26/03/2013	26/03/2013	-	Active	NO

Name :

Mr. Krishnakumar Ramnarayan Boob

Designation :

Director

Address :

Shubham, Behind Tulsi Market, New Nagar Road, Sangamner – 422605, Maharashtra, India

Date of Birth/Age :

31.05.1955

Date of Appointment :

07.11.2003

DIN No.:

00410672

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	U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	Director	07/11/2003	07/11/2003	-	Active	NO
2	U63020MH2008PTC188524	SHRI SAPTASHRINGI WAREHOUSING PRIVATE LIMITED	Director	25/05/2011	25/05/2011	-	Active	NO
3	U74900PN2013PTC149834	CLEAN SCIENCE PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO

Name :

Mr. Ashok Ramnarayan Boob

Designation :

Director

Address :

House No.1588, Ashok Chock, Sangamner, Ahmednagar – 422605, Maharashtra, India

Date of Birth/Age :

02.09.1953

Date of Appointment :

28.07.2007

DIN No.:

00410740

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	U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	Managing director	28/07/2007	07/11/2003	-	Active	NO
2	U74900PN2013PTC149834	CLEAN SCIENCE PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO

Name :

Mr. Ganpathi Dadasaheb Yadav

Designation :

Director

Address :

Flat No.7, University Staff Quarters, UDCT Campus, R A Kidwai Road, Matunga, Mumbai – 400019, Maharashtra, India

Date of Birth/Age :

14.09.1952

Date of Appointment :

15.12.2006

DIN No.:

02235661

Name :

Mr. Siddhartha Ashokkumar Sikchi

Designation :

Director

Address :

12, Shilp Nagar, Railway Station Road, Behind Dr. Dumir Hospital, Aurangabad – 431005, Maharashtra, India

Date of Birth/Age :

06.11.1981

Date of Appointment :

15.12.2006

DIN No.:

02351154

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	U24114PN2003PTC018532	CLEAN SCIENCE AND TECHNOLOGY PRIVATE LIMITED	Director	15/12/2006	15/12/2006	-	Active	NO
2	U24233MH2013PTC243185	MATRIX FINE SCIENCES PRIVATE LIMITED	Director	10/05/2013	10/05/2013	-	Active	NO
3	U74900PN2013PTC149834	CLEAN SCIENCE PRIVATE LIMITED	Director	17/12/2013	17/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shridhar
Designation :	Accounts Executive

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Krishnakumar Ramnarayan Boob	213065
Ashok Ramnarayan Boob	307480
Asha Ashok Boob	270890
Nidhi Ashok Boob	20
Parth Ashok Boob	20
Neelima Krishna Boob	61020
Shraddha Krishna Boob	20
Pooja Krishna Boob	20
Prasad Krishna Boob	20
Siddhartha Ashok Boob	45006
Asha Ashok Sikchi	35104
Ashok Sikchi	31382
Ashok R Sikchi (HUF)	172876
Nandita Sikchi	30400
Kunal Sikchi	34504
Anantroop Financial Advisory Services Private Limited, India	69678
Ganapati Dadasaheb Yadav	3000
Dilip Digambar Ravetkar	3000
Krishna Boob (HUF)	54600
Ashok R. Boob (HUF)	83622
Total	1415727

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	4.92
Directors or relatives of Directors	94.87
Other top fifty shareholders	0.21
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Chemical.
Exports :
Products :	Finished Goods
Countries :	European Countries
Imports :
Products :	Finished Goods
Countries :	Bahrain
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Installed Capacity	Actual Production
MEHO	MT	540	300.46
Guaiacol	MT	160	107.88
4- Map	MT	180	111.81

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

250 (Approximately)

Bankers :

• State Bank of Hyderabad, Pune Main Branch, Laxmi Road, Sadashiv Peth, Pune – 411030, Maharashtra, India
• Citi Bank N.A., Ground Floor, 37/3, Onyx Tower, Near Western Hotel, North Main Road, Koregaon Park, Pune – 411001, Maharashtra, India
• State Bank of India, Commercial Branch, 1548/A Off Tilak Road, Sadashiv Peth, Pune - 411030, Maharashtra, India

Tel No.: 91-20-24442123

Facilities :

SECURED LOANS	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Term Loans from Banks
SBH-Term Loan 20.000 Millions	3.024	9.012
SBH-Term Loan 5.000 Millions	0.930	2.640
SBH-Term Loan 1 ($ 11,10,000)	44.724	0.000
SBH-Term Loan 2 ($ 7,40,000)	29.816	0.000
SBH-Term Loan 3 ($ 1,20,000)	4.835	0.000
SBH-Term Loan in USD (Takeover From SIDBI)	27.399	0.000
SBH ALTIS H-2 Loan	0.000	0.616
SBH Lenia Loan	0.000	0.470
SBH Term Loan – 31660923197	0.000	5.235
SIDBI FC Term Loan	0.000	30.545
Short Term Borrowings
Loans repayable on demand	69.061	37.866
Total	179.789	86.384

Notes:

Long Term Borrowings

State Bank of Hyderabad

Term Loan Security

1. 1^st pari passu charge with SBI by way of equitable mortgage of immovable properties (Land and Building) of the company including le3se hold right of land admeasuring 30000 sq. ft.

2. 1^st pari passu charge with SBI by way of Hypothecation Plant and Machinery, Equipments, Spares, Tools, Accessories, Furniture’s and Fittings Office Equipments nd Other Movable.

3. Collateral 1^st pari passu charge with SBI by way of equitable mortgage of immovable owned by Mr. Ashok Boob at Plot No.6, Sr. No. 71 and 72, Sneh Park Cooperative Housing Society, Next to Pan Card Club Baner 5587 Sq. ft. Owned by Mr. Ashok Boob.

4. Personal Guarantee of Mr. Ashok Boob and Mr. Krishna Boob.

State Bank of India

Term Loan Security

1. 1^st pari passu charge on Machinery / Furniture, Gensets and electrification equipments purchased out of Bank Finnce.

2. 1^st pari passu hypothecation charge with SBH on plant and Machinery and other movable assets.

3. 1^st pari passu chrge by way of equitable mortgage of immovable properties (Land and Building) of the company including lease hold right lnd admeasuring 30000 sq. ft.

4. Collateral – 1^st pari passu charge on free hold land adm 550sq mtrs owned by Mr. Ashol Boob at Plot No.6, Sr. No.71 and 72, Sneh Park Cooperative Housing Society, Next to Pan Card Club Baner 5587 Sq. ft. Owned by Mr. Ashok Boob.

5. Personal Guarantee of Mr. Ashok Boob and Mr. Krishna Boob.

Short Term Borrowings

State Bank of Hyderabad

Hypothecation of all current assets of the company, present and future

Second charge on fixed assets of the company.

Second charge on equitable mortgage of immovable properties at plot No.6, Sr. No.71 and 72, Sneh Park Cooperative Housing Society, Next to Pan Card Club Baner 5587 Sq. ft. Owned by Mr. Ashok Boob and Mr. Krishna Boob

State Bank of India

Hypothecation Charge on Stock, Stores and Spare, Consumables nd Book Debts.

Collateral – 1^st pari passu charge on free hold land adm 550sq mtrs owned by Mr. Ashol Boob at Plot No.6, Sr. No.71 and 72, Sneh Park Cooperative Housing Society, Next to Pan Card Club Baner.

1^st pari passu charge with SBH on lease hold land adm 30000sq. mtrs held in the name of the company and situated at MIDC Kurkumbh, Pune with Existing Industrial shed/office building adm 3163 sq mtrs and proposed industries shed adm 2295 sq mtrs.

Banking Relations :	--
Auditors :
Name :	Sanjay S Rathi and Company Chartered Accountants
Address :	1^st Cross Lane, New Nagar Road, Sangamner - 422605, Maharashtra, India
PAN No.:	AATFM8591M

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1415727	Equity Shares	Rs.10/- each	Rs.14.157 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	14.157	14.157
(b) Reserves & Surplus	92.616	68.265
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	106.773	82.422
(3) Non-Current Liabilities
(a) long-term borrowings	120.327	57.483
(b) Deferred tax liabilities (Net)	16.946	5.162
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	137.273	62.645
(4) Current Liabilities
(a) Short term borrowings	69.061	37.865
(b) Trade payables	43.867	28.948
(c) Other current liabilities	51.162	26.927
(d) Short-term provisions	1.147	1.006
Total Current Liabilities (4)	165.237	94.746
TOTAL	409.283	239.813
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	202.233	110.728
(ii) Intangible Assets	4.072	6.288
(iii) Capital work-in-progress	0.000	9.571
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	1.591	6.031
(e) Other Non-current assets	0.000	0.154
Total Non-Current Assets	207.896	132.772
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	97.221	66.860
(c) Trade receivables	74.335	31.652
(d) Cash and cash equivalents	6.600	2.224
(e) Short-term loans and advances	23.181	6.305
(f) Other current assets	0.050	0.000
Total Current Assets	201.387	107.041
TOTAL	409.283	239.813

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		9.344
2] Share Application Money		0.000
3] Reserves & Surplus		36.980
4] (Accumulated Losses)		(6.434)
NETWORTH		39.890
LOAN FUNDS
1] Secured Loans		109.887
2] Unsecured Loans		18.911
TOTAL BORROWING		128.798
DEFERRED TAX LIABILITIES		4.174
TOTAL		172.862
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		121.520
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	46.261
	Sundry Debtors	14.196
	Cash & Bank Balances	0.138
	Other Current Assets	0.000
	Loans & Advances	14.939
Total Current Assets		75.534
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	22.397
	Other Current Liabilities	1.722
	Provisions	0.253
Total Current Liabilities		24.372
Net Current Assets		51.162
MISCELLANEOUS EXPENSES		0.180
TOTAL		172.862

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL		336.255	194.174	98.457
Less	EXPENSES
		Cost of Materials Consumed
		Employee Benefits Expenses
		Other Expenses
		TOTAL		290.509	179.529	94.873
	PROFIT BEFORE TAX			45.746	14.646	3.584
Less	TAX			18.928	0.988	0.515
	PROFIT AFTER TAX			26.817	13.658	3.069
	EARNINGS IN FOREIGN CURRENCY
			Export of Goods calculated on FOB basis	218.076	132.403	69.941
	TOTAL EARNINGS			218.076	132.403	69.941
	IMPORTS
			Raw Materials	45.816	23.029	0.000
			Capital Goods	0.000	0.303	0.000
	TOTAL IMPORTS			45.816	23.332	0.000
	Earnings Per Share (Rs.)			18.94	0.43	3.95

Particulars	31.03.2013
Sales Turnover (Approximately)	700.000

The above information has been parted by Mr. Shridhar (Accounts Executive)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	7.98	7.03	3.12
Return on Total Assets (PBT/Total Assets}	(%)	11.18	6.36	1.82
Return on Investment (ROI) (PBT/Networth)		0.43	0.18	0.09
Debt Equity Ratio (Total Debt /Networth)		1.77	1.16	3.23
Current Ratio (Current Asset/Current Liability)		1.22	1.13	3.10

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions
Share Capital	14.157	14.157
Reserves & Surplus	68.265	92.616
Net worth	82.422	106.773
long-term borrowings	57.483	120.327
Short term borrowings	37.865	69.061
Total borrowings	95.348	189.388
Debt/Equity ratio	1.157	1.774

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	98.457	194.174	336.255
		97.217	73.172

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	98.457	194.174	336.255
Profit	3.069	13.658	26.817
	3.12%	7.03%	7.98%

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 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	No
17]	Major suppliers	No
18]	Major customers	No
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	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	No
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

Note: Registered office of the company has been shifted from 1^st Floor, A- Wing, Farena Corporate Park, Above SBH, Sr. No. 136/1A/2, Magarpatta Road, Hadapsar, Pune – 411028, Maharashtra, India to the present address.

UNSECURED LOANS:

Particulars	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Loans and advances from related parties
Ashok R. Boob (HUF)	1.586	1.642
Ashok R. Boob (U/L)	5.867	5.500
Asha A Boob (U/L)	1.346	1.822
Siddharth A Sikchi (U/L)	0.500	0.000
Nandita Sikchi (U/L)	0.300	0.000
Total	9.599	8.964

FINANCIAL RESULTS AND OPERATIONS:

The company has successfully completed expansion of the plant and has reported profits of Rs.26.818 Millions due to increase in turnover.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10447994	30/08/2013	352,700,000.00	State Bank of India Commercial Branch	1548/A Off Tilak Road, Sadashiv Peth, Pune, Maharashtra - 411030, India	B84539808
2	10431926	13/06/2013 *	52,000,000.00	CITIBANK N. A.	Ground Floor, 37/3, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon Park, Pune, Maharashtra - 411001, India	B81001885
3	10277449	12/06/2013 *	404,700,000.00	State Bank of India Commercial Branch	1548, Off Tilak Road, Sadashiv Peth, Pune, Maharashtra - 411030, India	B78049616

*Date of modification Charges

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 records 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.61.52
UK Pound	1	Rs.102.22
Euro	1	Rs.85.23

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	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.