MIRA INFORM REPORT

Report Date :

20.10.2014

IDENTIFICATION DETAILS

Name :	KRIPA TEXTILE PRIVATE LIMITED
Registered Office :	320 Daulat Bhavan 407, Kalbadevi Road, Mumbai – 400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	18.12.1998
Com. Reg. No.:	11-117533
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U17120MH1998PTC117533
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Grey Fabrics
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings 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 – 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 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.

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. Arjun Jadav
Designation :	Accountant
Contact No.:	91-22-22078197
Date :	17.10.2014

LOCATIONS

Registered Office :	320 Daulat Bhavan 407, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22078197
Fax No.:	91-22-22078197
E-Mail :	dadeepak99@gmail.com
Location :	Rented

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Deepak Shrigopal Agrawal

Designation :

Director

Address :

36/1302 Subhash Nagar, Chembur, Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

30.1059

Date of Appointment :

18.12.1998

DIN No. :

01621216

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	U18101MH1998PTC117192	BEAUTIFUL FABRIC FASHIONS PRIVATE LIMITED	Director	24/11/1998	24/11/1998	-	Active	NO
2	U17100MH1998PTC117478	BEE VEE CLOTHINGS PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Active	NO
3	U51311MH1998PTC117473	PARIKRAMA TEXTILE PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Active	NO
4	U51311MH1998PTC117475	RAIMALADITYA TEXTILE PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Active	NO
5	U17120MH1998PTC117533	KRIPA TEXTILE PRIVATE LIMITED	Director	18/12/1998	18/12/1998	-	Active	NO
6	U51900MH2000PTC125952	ESHA EXIM PRIVATE LIMITED	Director	19/04/2000	19/04/2000	-	Strike off	NO
7	U51311MH2000PTC125949	DEEPJYOTI TEXTILE TRADERS PRIVATE LIMITED	Director	19/04/2000	19/04/2000	-	Active	NO
8	U51900MH2000PTC125958	SUMIT EXIM PRIVATE LIMITED	Director	19/04/2000	19/04/2000	-	Active	NO
9	U51900MH2000PTC126323	AMRAPALI FASHION PRIVATE LIMITED	Director	04/05/2000	04/05/2000	-	Strike off	NO
10	U17200MH2007PLC173934	ALOK RETAIL (INDIA) LIMITED	Additional director	26/03/2010	26/03/2010	30/03/2010	Amalgamated	NO

Name :

Mr. Vishwanath Prasadrao Balijepalli

Designation :

Director

Address :

14/221 Adarsh Nagar, Worli, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

02.01.1959

Date of Appointment :

18.12.1998

DIN No. :

01621241

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	U18101MH1998PTC117192	BEAUTIFUL FABRIC FASHIONS PRIVATE LIMITED	Director	24/11/1998	24/11/1998	-	Active	NO
2	U17100MH1998PTC117478	BEE VEE CLOTHINGS PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Active	NO
3	U51311MH1998PTC117473	PARIKRAMA TEXTILE PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Active	NO
4	U51311MH1998PTC117475	RAIMALADITYA TEXTILE PRIVATE LIMITED	Director	15/12/1998	15/12/1998	-	Active	NO
5	U17120MH1998PTC117533	KRIPA TEXTILE PRIVATE LIMITED	Director	18/12/1998	18/12/1998	-	Active	NO
6	U51900MH2000PTC126323	AMRAPALI FASHION PRIVATE LIMITED	Director	04/05/2000	04/05/2000	-	Strike off	NO
7	U51900MH2000PTC125952	ESHA EXIM PRIVATE LIMITED	Director	20/09/2001	20/09/2001	-	Strike off	NO
8	U51311MH2000PTC125949	DEEPJYOTI TEXTILE TRADERS PRIVATE LIMITED	Director	20/09/2001	20/09/2001	-	Active	NO
9	U51900MH2000PTC125958	SUMIT EXIM PRIVATE LIMITED	Director	20/09/2001	20/09/2001	-	Active	NO
10	U70102MH2013PTC249585	Budugu Realtors and Shares Private Limited	Director	25/10/2013	25/10/2013	-	Active	NO
11	U70102MH2013PTC249593	Paridhi Realtors and Shares Private Limited	Director	25/10/2013	25/10/2013	-	Active	NO
12	U45201MH2006PLC164267	ALOK INFRASTRUCTURE LIMITED	Additional director	16/10/2014	16/10/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arjun Jadav
Designation :	Accountant

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Deepak Shrigopal Agrawal	5000
Vishwanath Prasadrao Balijepalli	5000
Total	10000

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Grey Fabrics
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :	7 (Approximately)
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Prashant S. Mehta Chartered Accountants
Address :	201, Reddy’s Shree Shiv Datta, Station road, Goregaon, (W), Mumbai – 400062, Maharashtra, India
Mobile No.:	91-9820038268
PAN No.:	AAFPM0644M
Enterprises over which management personnel and their relatives are able to exercise significant influence:	Beautiful Fabric Fashions Private Limited Beevee Clothing Private Limited Raimaladitya Textile Private Limited. Parikrama Textile Private Limited Deep Jyoti Textile Traders Private Limited Sumit Exim Private Limited

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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	0.100	0.100	0.100
(b) Reserves & Surplus	4.714	2.931	1.997
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	4.814	3.031	2.097
(3) Non-Current Liabilities
(a) long-term borrowings	400.000	428.848	374.475
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	400.000	428.848	374.475
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	16.124	171.153	54.536
(c) Other current liabilities	81.447	110.254	42.952
(d) Short-term provisions	0.797	0.533	0.090
Total Current Liabilities (4)	98.368	281.940	97.578
TOTAL	503.182	713.819	474.150
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	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	392.895	425.875	375.875
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	392.895	425.875	375.875
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	20.293	172.063	54.788
(d) Cash and cash equivalents	0.543	0.246	0.302
(e) Short-term loans and advances	0.000	0.000	0.008
(f) Other current assets	89.451	115.635	43.177
Total Current Assets	110.287	287.944	98.275
TOTAL	503.182	713.819	474.150

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	436.502	344.491	112.602
	Other Income	82.739	72.563	43.177
	TOTAL	519.241	417.054	155.779
Less	EXPENSES
	Purchases of Stock-in-Trade	434.573	343.044	112.238
	Employees benefits expense	0.452	0.374	0.260
	Other expenses	0.215	0.285	0.064
	TOTAL	435.240	343.703	112.562
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	84.001	73.351	43.217
Less	FINANCIAL EXPENSES	81.422	71.884	42.926
	PROFIT/ (LOSS) BEFORE TAX	2.579	1.467	0.291
Less	TAX	0.797	0.533	0.090
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	1.782	0.934	0.201
	Earnings / (Loss) Per Share (Rs.)	178.29	93.42	20.11

Particulars	31.03.2014
Sales Turnover (Approximately)	512.040

The above information has been parted by Mr. Arjun Jadav (Accountant)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.34	0.22	0.13
Net Profit Margin (PBT/Sales)	(%)	0.59	0.43	0.26
Return on Total Assets (PBT/Total Assets}	(%)	0.51	0.21	0.06
Return on Investment (ROI) (PBT/Networth)		0.54	0.48	0.14
Debt Equity Ratio (Total Debt /Networth)		83.09	141.49	178.58
Current Ratio (Current Asset/Current Liability)		1.12	1.02	1.01

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	0.100	0.100	0.100
Reserves & Surplus	1.997	2.931	4.714
Net worth	2.097	3.031	4.814
long-term borrowings	374.475	428.848	400.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	374.475	428.848	400.000
Debt/Equity ratio	178.577	141.487	83.091

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	112.602	344.491	436.502
		205.937	26.709

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	112.602	344.491	436.502
Profit	0.201	0.934	1.782
	0.18%	0.27%	0.41%

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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	No
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

VIEW INDEX OF CHARGES No: Charges Exist for Company

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Intercorporate Deposited	400.000	428.848
Total	400.000	428.848

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. 61.61
UK Pound	1	Rs. 98.11
Euro	1	Rs. 78.89

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUB
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.