MIRA INFORM REPORT

Report No. :	315115
Report Date :	03.04.2015

IDENTIFICATION DETAILS

Name :	AMKAY PROUCTS PRIVATE LIMITED
Registered Office :	Bungalow No.68, Rashmi Park Corporate Housing Society Limited, Dhumal Nagar, Waliv Road, Vasai ,. Thane – 401208, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	25.10.2007
Com. Reg. No.:	11-175403
Capital Investment / Paid-up Capital :	Rs. 1.337 Million
CIN No.: [Company Identification No.]	U5139MH2007PTC175403
TAN No.: [Tax Deduction & Collection Account No.]	MUMA35092B
PAN No.: [Permanent Account No.]	AAGCA6560N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, trader and Exporter of Disposable Products.
No. of Employees :	100 (Approximately)

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 :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Borrowing of the company seems to be huge and increasing. However, trade relations are reported as fair. Business is active. Payments 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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. Hemanshu K Batavia
Designation :	Marketing Director
Contact No.:	91-9967774400
Date :	30.03.2015

LOCATIONS

Registered Office :	Bungalow No.68, Rashmi Park Corporate Housing Society Limited, Dhumal Nagar, Waliv Road, Tal-Vasai District – Thane, Vasai – 401208
Tel. No.:	91-250-6510870
Mobile No.:	91-9967774400 (Mr. Hemanshu)
Fax No.:	91-22-26845524
E-Mail :	info@amkay.products.com capareshrawal@yahoo.co.in
Website :	www.amkayproducts.com
Area :	3000 Sq. Ft
Location :	Owned
Factory :	27 Acchad Industries Estate, Village Acchad, Taluka Talasari-401606, District Thane, Maharashtra, India
Area :	20000 Sq. Ft
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Pravinchandra Vrajlal Mody

Designation :

Director

Address :

605, P.K. Niwas, 6^th Floor, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Date of Birth/Age :

30.05.1947

Qualification :

Under Graduate

Date of Appointment :

25.10.2007

DIN No.:

01185865

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	U65929MH2007PTC167294	GIRIRAJ STOCKS & SECURITIES PRIVATE LIMITED	Director	25/01/07	25/01/07	-	Active	NO
2	U51397MH2007PTC175403	AMKAY PRODUCTS PRIVATE LIMITED	Director	25/10/07	25/10/07	-	Active	NO

Name :

Mr. Kashyap Pravinchandra Mody

Designation :

Managing Director

Address :

605, P.K. Niwas, 6^th Floor, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Date of Birth/Age :

23.03.1972

Qualification :

Graduate

Date of Appointment :

25.10.2007

DIN No.:

01717036

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	U72300MH2007PTC168570	MIND SPACE VALUATION INFRA PRIVATE LIMITED	Director	11/03/07	11/03/07	-	Active	NO
2	U51397MH2007PTC175403	AMKAY PRODUCTS PRIVATE LIMITED	Managing director	25/10/07	25/10/07	-	Active	NO

Name :

Mr. Hemanshu Batavia Kantilal

Designation :

Director

Address :

C-31, Kailash Nagar, Shankar Lane, Kandivali (West), Mumbai – 400067, Maharashtra, India.

Date of Birth/Age :

28.10.1975

Date of Appointment :

30.09.2011

DIN No.:

05118012

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	U51397MH2007PTC175403	AMKAY PRODUCTS PRIVATE LIMITED	Director	30/09/11	12/01/11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Mr. Pravinchandra Vrajlal Mody	500
Mr. Kashyap Pravinchandra Mody	9500
Mr. Hemanshu Kantilal Batavia	3350
Mr. Anit B. Lodha	1
Mr. Bharat Sukanraj Jain-HUF	1
Mr. Gulabchand A Jain	1
Mr. Hastimal J Solanki-HUF	1
Mr. Hiren P Chedda	1
Mr. Lalji Sharma	1
Mr. Mukesh Solanki-HUF	1
Mr. Nandlal M Ghoil	1
Mr. Sanjay M. Jain	1
Total	13359

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	99.93
Other top fifty shareholders	00.07
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, trader and Exporter of Disposable Products.
Products :	· Alcohol Swabs · Surgical Gloves- Sterile · Examination Gloves · Disposable Plastic · Gloves paper/ Long Sleeves · Audit Diapers · Face Mask · Caps Non- Woven · Medical Aprons · Surgical Gowns · Bed Sheet Drapes etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	· Alcohol Swabs · Surgical Gloves- Sterile · Examination Gloves · Disposable Plastic · Gloves paper/ Long Sleeves · Audit Diapers · Face Mask · Caps Non- Woven · Medical Aprons · Surgical Gowns · Bed Sheet Drapes etc.
Countries :	· South Africa · UK
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers and Retailers

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

No. of Employees :

100 (Approximately)

Bankers :

· Union Bank Of India - Andheri (East) Branch, Mayani Manor, Sir M.V.Road, Andheri (East), Mumbai - 400069,Maharashtra, India

· HDFC Bank Limited – Mumbai, Maharashtra, India

· Standard Chartered Bank

· Kotak Mahindra Prime Limited

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and Advances from others
HDFC Bank- Vehicle Loan (Secured By Tempo)	0.070	0.173
Bajaj Finance Limited	2.233	-
Standard Chartered Bank (Secured By Unsecured)	2.907	4.000
Kotak Mahindra prime Limited- Car Loan (H)	0.342	-
Kotak Mahindra Prime Limited- Car Loan (K)	0.695	-
Magma Fin corporation Limited	2.536	-
Tata Capital Limited	2.799	-
Union Bank of India- OD Account	5.826	5.139
Total	17.408	9.312

Financial Institute :

Tata Capital Financial Services Limited

Auditors :
Name :	Paresh Rawal And Associates Chartered Accountants
Address :	Satya Niwas,1/16, B S Road, Near Gajanan Book Depot, Dadar (West), Mumbai – 400028, Maharashtra-MH, India
Tel/ Fax No.:	91-2421 1180
Mobile No.:	91-9892290102
Email:	capareshrawal@yahoo.co.in
Website:	www.pareshrawalassociates.com
PAN N Income-tax PAN of auditor or auditor's firm :	AEJPR1818J
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000	Equity Shares	Rs.100/- each	Rs.2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13361	Equity Shares	Rs.100/- each	Rs.1.336 Million
5	Equity Shares	Rs.100/- each	Rs. 0.001 Million
	Total		Rs. 1.337 Million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000	Equity Shares	Rs.100/- each	Rs.2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13359	Equity Shares	Rs.100/- each	Rs. 1.336 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.337	1.336	1.336
(b) Reserves & Surplus	3.315	2.622	1.839
(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)	4.652	3.958	3.175
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.081	0.066
(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)	0.000	0.081	0.066
(4) Current Liabilities
(a) Short term borrowings	20.657	12.999	6.577
(b) Trade payables	20.868	13.825	9.667
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.976	1.067	1.214
Total Current Liabilities (4)	42.501	27.891	17.458
TOTAL	47.153	31.930	20.699
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.911	7.308	2.327
(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	0.717	1.518	0.850
(c) Deferred tax assets (net)	0.020	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.005
Total Non-Current Assets	17.648	8.826	3.182
(2) Current assets
(a) Current investments
(b) Inventories	3.176	2.001	1.481
(c) Trade receivables	21.729	18.378	12.067
(d) Cash and cash equivalents	2.395	2.220	3.174
(e) Short-term loans and advances	2.205	0.505	0.795
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	29.505	23.104	17.517
TOTAL	47.153	31.930	20.699

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	NA	90.000	79.611
Less	EXPENSES TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	0.693	0.783	0.725
	Earnings / (Loss) Per Share (Rs.)	51.88	58.61	54.27

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	0.87	0.91
Debt Equity Ratio (Total Debt /Networth)		4.44	3.28	2.07
Current Ratio (Current Asset/Current Liability)		0.69	0.83	1.00

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	Yes
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 two 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)	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	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

NOTE: Registered office of the company has been shifted from 605, P.K. Niwas, S.V. Road, Mumbai – 400056, Maharashtra, India to the present address w.e.f. 02.11.2013

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and Advances from Shareholder’s	3.248	3.687
Total	3.248	3.687

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10551043	02/02/2015	28,000,000.00	Axis Bank Limited	Axis House, Ground Floor,, Pandurang Budhkar Marg, Worli, Mumbai- 400025, Maharashtra INDIA	C44564912
2	10368926	29/06/2012	2,500,000.00	UNION BANK OF INDIA	Andheri (East) Branch,, Mayani Manor, Sir M.V.Road, Andheri (East), Mumbai, Maharashtra - 400069, INDIA	B45053774

FIXED ASSETS

· Plant and Equipment

· Computer

· Furniture and Fixtures

· Unit Purchase

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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	RKA
Analysis Done by :	DIV
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--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	YES
--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.