MIRA INFORM REPORT

Report Date :

01.10.2014

IDENTIFICATION DETAILS

Name :	PREMIER ESSENTIALS PRIVATE LIMITED
Registered Office :	11/124, Ramkrishna Nagar, S. V. Road, Khar (West), Mumbai – 400052, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	23.09.2011
Com. Reg. No.:	11-222351
Capital Investment / Paid-up Capital :	Rs.0.102 Million
CIN No.: [Company Identification No.]	U51101MH2011PTC222351
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in chemicals, Dyes, Dyestuffs, Agents and Catalytics.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 10000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. The rating is constrained on account of company’s small scales of business operations and small net worth of the company. However, trade relations are reported to be fair. Business is active. Payment terms are slow but correct. The company can be considered for small 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	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

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly 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.

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 DENIED

Management Non Co-Operative (Tel No.: 91-22-26465721)

LOCATIONS

Registered Office :	11/124, Ramkrishna Nagar, S. V. Road, Khar (West), Mumbai – 400052, Maharashtra, India
Tel. No.:	91-22-26465721 / 22 / 25616029
Fax No.:	91-22-26460966
E-Mail :	info@premiergroup.co.in jj@premiergroup.co.in jsumaria@gmail.com
Website :	http://www.premiergroup.co.in

DIRECTORS

As on 30.09.2013

Name :

Mr. Manish Purushottam Sanghvi

Designation :

Director

Address :

12 A, Ratnadeep, S.V.Road, Santacruz (West), Mumbai - 400054, Maharashtra, India

Date of Birth/Age :

21.04.1967

Date of Appointment :

23.09.2011

DIN No.:

00491182

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	U24117GJ1994PTC023109	SANGHVI ORGANICS PRIVATE LIMITED	Director	23/09/1994	23/09/1994	-	Active	NO
2	U24100MH1989PTC053057	PREMIER INTERMEDIATES PRIVATE LIMITED	Director	29/11/2004	29/11/2004	-	Active	NO
3	U24100MH2009PTC190100	PREMIER HYDRO CARBONS PRIVATE LIMITED	Director	04/02/2009	04/02/2009	-	Active	NO
4	U51101MH2011PTC222351	PREMIER ESSENTIALS PRIVATE LIMITED	Director	23/09/2011	23/09/2011	-	Active	NO

Name :

Mr. Ashish Shashikant Sanghvi

Designation :

Director

Address :

TI-1, Amrit Apartment, Phirojsha Mehta Road, Santcruz, Mumbai - 400054, Maharashtra, India

Date of Birth/Age :

21.01.1983

Date of Appointment :

23.09.2011

DIN No.:

02331632

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	U24117GJ1994PTC023109	SANGHVI ORGANICS PRIVATE LIMITED	Director	24/09/2009	01/10/2008	-	Active	NO
2	U24100MH2009PTC190100	PREMIER HYDRO CARBONS PRIVATE LIMITED	Director	04/02/2009	04/02/2009	-	Active	NO
3	U51101MH2011PTC222351	PREMIER ESSENTIALS PRIVATE LIMITED	Director	23/09/2011	23/09/2011	-	Active	NO
4	U24100MH1989PTC053058	PREMIER ORGOCHEM INDUSTRIES PRIVATE LIMITED	Director	29/09/2012	01/08/2012	-	Active	NO

Name :

Mr. Jigen Harshad Jariwala

Designation :

Director

Address :

B-401, Vishnu Shivam Chsl, Gayatri Satsang,, Thakur Village, Opposite Viceroy Tower, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

23.07.1967

Date of Appointment :

23.09.2011

DIN No.:

03597270

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Ashish Shashikant Sanghvi	3400
Manish Purushottam Sanghvi	3400
Jigen Harshad Jariwala	3400
Total	10200

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in chemicals, Dyes, Dyestuffs, Agents and Catalytics.

GENERAL INFORMATION

Suppliers :	· Chirag Orgochem · Digitech Print Solutions · Hasenosa La Treinta · JKW Chemicals Private Limited · Karan Enterprises · Lok Chemicals Private Limited · Mak Industries · Momai Agencies · Paari Chem Resources · Pestornatic Controls · Prash Enterprises · Ravji Salt Suppliers · The Peninsular Export Company
Customers :	· ABAD Fisheries Private Limited · Aftab Marine Exports · Alf Farms Private Limited · Amar Universal Private Limited · Avla Nettos Exports · Bhavani sea foods · Blue-Fin Frozen Foods Private Limited · Britto Seafoods Exports Private Limited · Charley Fisheries · Coastal Corporation Limited · Goodwill Enterprise · Grand Marine Foods · Mangala Marine Exim India Private Limited · Naik Ice & Cold Storage · Naik Oceanic Exports · Naik Oceanic Exports Private Limited. · Naik Sea Foods Private Limited · Naik Sea Foods Private Limited Ratnagiri · Premier Intermediates Private Limited · Ram's Assorted Cold Storage Limited · Raunaq Ice and Cold Storage
No. of Employees :	Information denied by management
Bankers :	· Union Bank of India · Deutsche Bank · ICICI Bank Limited

Banking Relations :	--
Auditors :
Name :	Sumaria and Sumaria Chartered Accountants
Address :	1, Mulund Vaibhav, Zaver Cross Road, Adjacent To Railway Station, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-65540872 / 25616029
Fax No.:	91-22-25616029
E-Mail :	jsumaria@gmail.com
PAN No.:	AAZFS7438M

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10200	Equity Shares	Rs.10/- each	Rs.0.102 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	0.102	0.102
(b) Reserves & Surplus	2.001	(0.385)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.318	0.318
Total Shareholders’ Funds (1) + (2)	2.421	0.035
(3) Non-Current Liabilities
(a) long-term borrowings	2.505	2.615
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	2.505	2.615
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	4.019	3.420
(c) Other current liabilities	0.547	0.631
(d) Short-term provisions	0.954	0.005
Total Current Liabilities (4)	5.520	4.056
TOTAL	10.446	6.706
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.003	0.006
(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	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.936	0.028
Total Non-Current Assets	0.939	0.034
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	3.644	3.850
(c) Trade receivables	4.625	2.540
(d) Cash and cash equivalents	0.188	0.242
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	1.050	0.040
Total Current Assets	9.507	6.672
TOTAL	10.446	6.706

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2013	31.03.2012
TURNOVER		22.683	3.856
PROFIT/(LOSS) FOR THE YEAR		3.337	(0.385)
IMPORTS
	Raw Materials and stock in trade	8.848	2.448
TOTAL IMPORTS		8.848	2.448
Earnings / (Loss) Per Share (Rs.)		327.16	NA

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	1.03	74.71
Current Ratio (Current Asset/Current Liability)	1.72	1.64

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	0.102	0.102
Reserves & Surplus	(0.385)	2.001
Share Application money pending allotment	0.318	0.318
Net worth	0.035	2.421
long-term borrowings	2.615	2.505
Short term borrowings	0.000	0.000
Total borrowings	2.615	2.505
Debt/Equity ratio	74.714	1.035

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	3.856	22.683
		488.252

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	3.856	22.683
Profit	(0.385)	3.337
	(9.98%)	14.71%

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 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	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	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
LONG TERM BORROWINGS
Loans from Members, Directors and Relatives	2.505	2.615
Total	2.505	2.615

OVERVIEW OF THE COMPANY:

The company was incorporated on 23^rd September, 2011 under the Companies Act 1956. The company is primarily engaged in trading in chemicals, Dyes, Dyestuffs, Agents and Catalytics.

PROFITABILITY:

The company is in its second year of operation. The company has established itself in market to a substantial extent and has achieved a turnover of Rs.22.683 Millions and a net profit of Rs.3.337 Millions.

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.61.61
UK Pound	1	Rs.100.28
Euro	1	Rs.78.21

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
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	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		30

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.