MIRA INFORM REPORT

Report No. :	315815
Report Date :	04.03.2015

IDENTIFICATION DETAILS

Name :	ANJALI CHEM INDIA PRIVATE LIMITED
Registered Office :	D – 84, City Apartment, Vasundhara - 110096, Delhi
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.05.1996
Com. Reg. No.:	55-078829
Capital Investment / Paid-up Capital :	Rs. 2.000 Million
CIN No.: [Company Identification No.]	U29248DL1996PTC078829
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELB04402G
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Quality Euipments of Diary, Food, Chemical, Beverages
No. of Employees :	30 (Approximately) (In factory)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 27000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company has shown a huge growth in its turnover during FY 2014. General financial position of the company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct. The company can be considered normal 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 – 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. Anil Bhan
Designation :	Director
Contact No.:	91-9811206790
Date :	03.04.2015

LOCATIONS

Registered Office :	D – 84, City Apartment, Vasundhara - 110096, Delhi India
Tel. No.:	91-120-2560783 / 4
Mobile No.:	91-9811206791 / 91-9826615868 (Mr. Anil Bhan)
Fax No.:	91-120-2569858
E-Mail :	baafengrs@yahoo.co.in
Website :	http://www.baaf-engineers.com
Area :	4000 Sq. Ft.
Location :	Owned
Locality :	Industrial
Factory :	E – 48, Site-B, UPSIDC, Surajpur Industrial Area, Dadri Road, District Gautam Budh Nagar, Greater Noida - 201306, Uttar Pradesh, India
Tel. No.:	91-120-2560783 / 4
Fax No.:	91-120-2569858
Location :	Owned

DIRECTORS

As on : 30.09.2014

Name :

Mr. Anil Bhan

Designation :

Director

Address :

D-84, City Appartment, Vasundhra Enclave, New Delhi – 110096, India

Date of Birth/Age :

04.05.1962

Qualification :

Graduate

Date of Appointment :

10.05.1996

DIN No.:

01650427

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	U29248DL1996PTC078829	BAAF ENGINEERS PRIVATE LIMITED	Director	10/05/1996	10/05/1996	-	Active	NO
2	AAA-7920	MARTIK PHARMA AND CHEMICAL INDUSTRIES LLP	Designated Partner	08/02/2012	08/02/2012	-	Active	NO

Name :

Ms. Sujata Bhan

Designation :

Director

Address :

D-84, City Appartment, Vasundhra Enclave, New Delhi – 110096, India

Date of Birth/Age :

20.12.1965

Qualification :

Graduate

Date of Appointment :

15.11.2000

DIN No.:

01654597

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares	%age
Anil Bhan	100000	50.00
Sujata Bhan	100000	50.00
Total	200000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Quality euipments of Diary, Food, Chemical, Beverages
Products :	· Quality euipments of Diary · Food · Chemical · Beverages
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Quality Equipment for Dairy; Food, Chemical, Beverages
Countries :	Nepal
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· ABS Bright Travels Services

· A.K. Purohit

· Anjani Insulation

· Bharat Fitting and Valves

· Chandha Sale Private Limited (CR)

· Chugh Brothers Private Limited

· Delta Flow Tech Engineers Private Limited (CR)

· Denfoss Industries

· Dhruva Associates

· Garg Steel

· Matheson K-Air India Private Limited

· M.D Sales Corporation

· Sanchi Infotech Private Limited

· Zeutech Engineers Private Limited

Customers :

· Abis Hatchery Private Limited

· Horizon Scales and Systems Private Limited

· Lakshya Food (i) Private Limited

· Maahi Milk Producers Company Limited

· Manish Food Industries

· Mother Dairy

· Purica Foods Private Limited

· Valsad Distt. Co-opeartive

· Haridwar Dugdh Utpadak Sahkari Sangh Limited

· Nanital Duss (UCDF)

· Tehari Garwal Duss Limited (UCDF)

· Gopaljee Dairy Food Private Limited

· Tam Constructions Chemical Private Limited

No. of Employees :

30 (Approximately) (In factory)

Bankers :

Banker Name	State Bank of India
Branch Address	23-24, Defence Colony Market, New Delhi – 110024, 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

· Bank of India

· HDFC Bank

· Indusind Bank Limited

· ICICI Bank Limited

State Bank of Patiala – SMECC, 59, Community Centre, Naraina Industrial Area, Phase – 1, New Delhi – 110028, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Term loan from Bank	0.045	0.090
Short Term Borrowing
Loan repayable on Demand	8.983	5.208
(Detail of Loans Secured by…e.g. Cash Credit Facility from State Bank of Patiala, Defence Colony Market, New Delhi is Secured against hypothecation of stock and Book Debts)
Total	9.028	5.298

Auditors :
Name :	Rajesh Anirudh and Associates Chartered Accountant
Address :	M-3, Basement, Lajpat Nagar – II, New Delhi – 110024, India
PAN No.:	AACPA3528M
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 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	2.000	1.150	1.150
(b) Reserves & Surplus	7.447	5.508	4.494
(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)	9.447	6.658	5.644
(3) Non-Current Liabilities
(a) long-term borrowings	0.045	0.090	0.130
(b) Deferred tax liabilities (Net)	0.052	0.026	0.038
(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)	0.097	0.116	0.168
(4) Current Liabilities
(a) Short term borrowings	9.528	6.353	4.039
(b) Trade payables	23.882	21.506	19.748
(c) Other current liabilities	13.369	19.846	11.331
(d) Short-term provisions	0.862	0.468	0.436
Total Current Liabilities (4)	47.641	48.173	35.554
TOTAL	57.185	54.947	41.366
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.752	2.091	2.294
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4.752	2.091	2.294
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	22.786	17.553	11.894
(c) Trade receivables	17.452	14.443	14.454
(d) Cash and cash equivalents	7.966	6.049	5.920
(e) Short-term loans and advances	4.229	14.811	6.804
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	52.433	52.856	39.072
TOTAL	57.185	54.947	41.366

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	115.662	59.902	64.524
		TOTAL	115.662	59.902	64.524
Less	EXPENSES
		TOTAL	112.790	58.433	63.150
	PROFIT BEFORE TAX		2.872	1.469	1.374
Less	TAX		0.933	1.455	0.428
	PROFIT AFTER TAX		1.939	0.014	0.946
	Earnings Per Share (Rs.)		96.95	0.70	47.30

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.68	0.02	1.47
Operating Profit Margin (PBITD/Sales)	(%)	2.48	2.45	2.13
Return on Total Assets (PBT/Total Assets}	(%)	5.02	2.67	3.32
Return on Investment (ROI) (PBT/Networth)		0.30	0.22	0.24
Debt Equity Ratio (Total Debt /Networth)		1.01	0.97	0.74
Current Ratio (Current Asset/Current Liability)		1.10	1.10	1.10

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	1.150	1.150	2.000
Reserves & Surplus	4.493	5.508	7.447
Net worth	5.643	6.658	9.447
long-term borrowings	0.130	0.090	0.045
Short term borrowings	4.039	6.353	9.528
Total borrowings	4.169	6.443	9.573
Debt/Equity ratio	0.739	0.968	1.013

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	64.524	59.902	115.662
		(7.163)	93.085

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	64.524	59.902	115.662
Profit	0.946	0.014	1.939
	1.47%	0.02%	1.68%

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 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	Yes
18]	Major customers	Yes
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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Loan from related parties Sujata Bhan	0.545	1.145
Total	0.545	1.145

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10360799	05/03/2015 *	29,000,000.00	STATE BANK OF PATIALA	SMECC, 59, COMMUNITY CENTRE, NARAINA INDUSTRY ARE  A, NARAINA, DELHI, Delhi - 110028, INDIA	C46975751
2	10080563	21/08/2008 *	15,000,000.00	STATE BANK OF PATIALA	23-24 DEFENCE COLONY MARKET, NEW DELHI, Delhi - 11  0024, INDIA	A47153960

* Date of charge modification

FIXED ASSETS

· Land

· Building

· Factory

· Font and Euipments

· Furniture and Fixture

· Vehicles

· Office Euipment

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.92.45
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	SNJ
Analysis Done by :	DIV
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	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		48

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.