MIRA INFORM REPORT

Report Date :

24-11.2014

IDENTIFICATION DETAILS

Name :	EXCLUSIVE FIBERS LIMITED (w.e.f.20.04.2014)

Formerly Known As :	EXCLUSIVE FIBERS PRIVATE LIMITED

Registered Office :	31/3203, Beadon Pura, Karol Bagh, New Delhi – 110 005

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	16.04.2004

Com. Reg. No.:	55-125846

Capital Investment / Paid-up Capital :	Rs. 34.717 Millions

CIN No.: [Company Identification No.]	U74999DL2004PLC125846

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufactures, dealers and distributors of all kind of polyster and polyster products, stable fiber, yarns and fibers.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 350000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company moderate track record. Profitability of the company seems to be low. However, trade relation are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Rajeev Aggarwal
Designation :	Director
Contact No.:	91-9811035872
Date :	22.11.2014

LOCATIONS

Registered Office :	31/3203, Beadon Pura, Karol Bagh, New Delhi – 110 005, India
Tel. No.:	91-11-28725281
Fax No.:	91-11-26365812
E-Mail :	sudhir_10159@yahoo.com exclusive@vsnl.com
Website :	http://opencorporates.com

DIRECTORS

As on 25.09.2013

Name :	Mr. Rajeev Aggarwal
Designation :	Director
Address :	34, Block No.-3, 2^nd Floor, Charms Wood Village, Surajkund Road, Faridabad, Haryana – 121 009, India
Date of Birth/Age :	22.07.1967
Date of Appointment :	16.04.2004
DIN No.:	00442120

Name :	Mrs. Meenu Aggarwal
Designation :	Director
Address :	34, Block No.-3, 2^nd Floor, Charms Wood Village, Surajkund Road, Faridabad, Haryana – 121 009, India
Date of Birth/Age :	20.05.1970
Date of Appointment :	16.04.2004
DIN No.:	00442229

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2013

Names of Shareholders	No. of Shares
Mr. Rajeev Aggarwal	2221435
Mrs. Meenu Aggarwal	1885225
Exclusive Overseas Private Limited, India	300000
Ways Info Technologies Private Limited, India	190000
Shenzhen Properties Private Limited, India	300000
Total	4896660

As on 13.10.2014

Names of Allottees	No. of Shares
Al Ghaith Building Construction Company LLC, Emirates	100000
Total	100000

Equity Share Break up (Percentage of Total Equity)

As on 25.09.2013

Category	Percentage
Bodies corporate	16.14
Directors or relatives of Directors	83.86
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufactures, dealers and distributors of all kind of polyster and polyster products, stable fiber, yarns and fibers.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Corporation Bank
Branch	Karol Bagh branch, Karol Bagh, New Delhi - 110005, Delhi, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Gujarat Industrial Development Corporation	12.379	0.000
Term loan from corporation bank	0.622	0.000
Short-term borrowings
Gujarat Industrial Development Corporation	9.544	0.000
Total	22.545	0.000


Banking Relations :

Auditors :
Name :	PARM and SMRN Chartered Accountant
Address :	Office No.403, Block No-B, NDM-1, Mall Road, Netaji Subhash Place, Pitampura, New Delhi – 110 034, India
Tel. No.:	91-11-47050400/04
Fax No.:	91-11-47050405
Email ID :	Sudhir.agarwal@parmandsmrn.com
Website :	www.parmandsmrn.com
PAN No.:	AAJFP2311C

Memberships :	Not Available

Collaborators :	Not Available

Associates:	Exclusive Overseas Private Limited

CAPITAL STRUCTURE

AFTER 25.09.2013

Authorised Capital : Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 56.367 Millions

As on 25.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

4896660	Equity Shares	Rs.10/- each	Rs. 48.967 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

3471660	Equity Shares	Rs.10/- each	Rs. 34.717 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	34.717	23.144	11.572
(b) Reserves & Surplus	73.868	13.177	24.550
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	14.250	0.000	0.000
Total Shareholders’ Funds (1) + (2)	122.835	36.321	36.122

(3) Non-Current Liabilities
(a) long-term borrowings	13.001	0.000	0.000
(b) Deferred tax liabilities (Net)	0.046	0.041	0.000
(c) Other long term liabilities	0.000	0.000	6.700
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	13.047	0.041	6.700

(4) Current Liabilities
(a) Short term borrowings	9.630	0.629	8.884
(b) Trade payables	12.202	0.000	0.137
(c) Other current liabilities	9.817	4.572	0.225
(d) Short-term provisions	0.069	0.058	0.000
Total Current Liabilities (4)	31.718	5.259	9.246

TOTAL	167.600	41.621	52.068

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	164.985	34.441	0.000
(ii) Intangible Assets	0.012	0.000	0.000
(iii) Capital work-in-progress	0.430	0.430	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.836	0.531	9.208
Total Non-Current Assets	166.263	35.402	9.208

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.585	3.655	3.046
(c) Trade receivables	0.054	0.000	8.817
(d) Cash and cash equivalents	0.608	2.434	30.376
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.090	0.130	0.621
Total Current Assets	1.337	6.219	42.860

TOTAL	167.600	41.621	52.068

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	99.336	85.812	73.358
	Other Income
	TOTAL	99.336	85.812	73.358

Less	EXPENSES	98.973	85.514	72.682

	PROFIT/ (LOSS) BEFORE TAX	0.363	0.298	0.676

Less	TAX	0.044	0.099	0.007

	PROFIT/ (LOSS) AFTER TAX	0.319	0.199	0.669

	Earnings / (Loss) Per Share (Rs.)	0.09	0.11	0.58

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	0.22	0.72	1.30

Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.02

Debt Equity Ratio (Total Debt /Networth)		0.18	0.02	0.25

Current Ratio (Current Asset/Current Liability)		0.04	1.18	4.64

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	11.572	23.144	34.717
Reserves & Surplus	24.550	13.177	73.868
Net worth	36.122	36.321	108.585

long-term borrowings	0.000	0.000	13.001
Short term borrowings	8.884	0.629	9.630
Total borrowings	8.884	0.629	22.631
Debt/Equity ratio	0.246	0.017	0.208

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)
Total Income	73.358	85.812	99.336
		16.977	15.760

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	73.358	85.812	99.336
Profit	0.669	0.199	0.319
	0.91%	0.23%	0.32%

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Short-term borrowings
Loans from related party
Rajeev Agarwal	0.038	0.329
Meenu Agarwal	0.048	0.300
Total	0.086	0.629

CORPORATE INFORMATION

The company is a Private Limited Company incorporated in India on 16.04.2004 under the provision of the Companies Act 156. The company is engaged in business of the Manufactures, dealers and distributors of all kind of polyster and polyster products, stable fiber, yarns and fibers.

FIXED ASSETS

· Land

· Building

· Office Equipment

· Computer

Software

Air Conditioner

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.62.85
UK Pound	1	Rs.97.01
Euro	1	Rs.77.62

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	RAS

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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		28

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.

MIRA INFORM REPORT

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