MIRA INFORM REPORT

Report No. :	317908
Report Date :	18.04.2015

IDENTIFICATION DETAILS

Name :	ALL TIME PLASTICS PRIVATE LIMITED

Registered Office :	B/30, Royal Industrial Estate, Naigoan Cross Road, Wadala, Mumbai – 400 031, Maharashtra
Tel. No.:	91-22-66208900

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	08.03.2001

Com. Reg. No.:	11-131139

Capital Investment / Paid-up Capital :	Rs.10.000 million

CIN No.: [Company Identification No.]	U25209MH2001PTC131139

TAN No.: [Tax Deduction & Collection Account No.]	MUMA14515E

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

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter and Importer of Articles from Plastic products.

No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 260000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	The subject is an established company having a satisfactory track record. The company has reported an increase in its profitability during the financial year 2013-2014. The company possesses acceptable capital structure and decent net worth, however, liquidity seems to be under pressure probably due to management’s inability to realize its receivables and inventories into cash in the requisite time. The overall financial position seems to be sound. Trade relations are fair. Business is active. Payments are reported to be slow but correct as company possess moderate liquidity. The company can be considered for business dealings on usual trade term 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

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 (GENERAL DETAILS)

Name :	Mr. Hussain
Designation :	Accountant
Contact No.:	91-22-66208900
Date :	16.04.2015

LOCATIONS

Registered Office :	B/30, Royal Industrial Estate, Naigoan Cross Road, Wadala, Mumbai – 400 031, Maharashtra, India
Tel. No.:	91-22-66208900
Fax No.:	91-22-66208999 / 66208900
E-Mail :	sales@alltimeplastics.com kailesh@alltimeplastics.com hussain@alltimeplastics.com
Website :	http://www.alltimeplastics.com
Area :	800 sq ft
Location :	Owned

Factory :	Survey No.190/1/2, 190/1/1/2, 190/1/3, Gandhigram, Dokmardi-Kilvani Road, Village: Amili, Silvassa – 396 230, Union Territory of Dadra and Nagar Haveli, India
Tel. No.:	91-260-2630901/ 2630902
E-Mail :	info@alltimeplastics.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Kailesh Punamchand Shah

Designation :

Director

Address :

1502, Spring Tower, GD Ambedkar Marg, Dadar (East), Mumbai – 400 014, Maharashtra, India

Date of Birth/Age :

04.06.1962

Date of Appointment :

08.03.2001

DIN No.:

00268442

Voter ID No.:

MT/06/033/016061

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	U25209MH1983PTC031535	HARPOON PLASTOCHEM INDUSTRIES PRIVATE LIMITED	Director	09-12-83	09-12-83	25-03-09	Active	NO
2	U25209MH2001PTC131139	ALL TIME PLASTICS PRIVATE LIMITED	Director	08-03-01	08-03-01	-	Active	NO

Name :

Mr. Bhupesh Punamchand Shah

Designation :

Director

Address :

Flat 502, Pranav Residency, Bhimani Street, Matunga (East), Mumbai – 400 019, Maharashtra, India

Date of Birth/Age :

04.04.1964

Date of Appointment :

08.03.2001

DIN No.:

00281295

Voter ID No.:

MT/06/033/016062

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	U25209MH1983PTC031535	HARPOON PLASTOCHEM INDUSTRIES PRIVATE LIMITED	Director	09-10-96	09-10-96	25-03-09	Active	NO
2	U25209MH2001PTC131139	ALL TIME PLASTICS PRIVATE LIMITED	Director	08-03-01	08-03-01	-	Active	NO

Name :

Mr. Nilesh Punamchand Shah

Designation :

Director

Address :

702, Rustom Villa, Parsi Colony, Dr. Ghani Road, Dadar, Mumbai – 400 014, Maharashtra, India

Date of Birth/Age :

29.09.1965

Date of Appointment :

08.03.2001

DIN No.:

00281407

Voter ID No.:

MT/06/033/093253

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	U25209MH1983PTC031535	HARPOON PLASTOCHEM INDUSTRIES PRIVATE LIMITED	Managing director	09-10-96	09-10-96	25-03-09	Active	NO
2	U25209MH2001PTC131139	ALL TIME PLASTICS PRIVATE LIMITED	Director	08-03-01	08-03-01	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Hussain
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Vasanti Punamchand Shah	252700	25.27
Kailesh Punamchand Shah	249000	24.90
Bhupesh Punamchand Shah	249000	24.90
Nilesh Punamchand Shah	249000	24.90
Rupal Kailesh Shah	100	0.01
Kajal Bhupesh Shah	100	0.01
Sangeeta Nilesh Shah	100	0.01
Total	1000000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Articles from Plastic products.

Products :	Containers Material Handling Bathware Tea and Juice Strainers Tableware and Serve ware Kitchen aids and Home Utility Hangers Cutting Boards Bulk Storage

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :
Products :	Plastic Products
Countries :	Gulf Countries Europe US Middle East

Imports :
Products :	Raw Materials
Countries :	Gulf Countries Singapore Malaysia

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 :

End Users

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 :

200 (Approximately)

Bankers :

Bank Name	DBS Bank Limited
Branch	221, Fort House , 3^rd Floor, D.N. Road, Fort, Mumbai – 400 001, Maharashtra, 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	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loans
From DBS Bank Limited, Singapore (Secured with against movable and immovable property of the company personal guarantee of all the Directors)	57.500	87.500
Short-term borrowings
Working Capital Facilities From DBS Bank Limited, Singapore (Secured with against movable and immovable property of the company personal guarantee of all the Directors)	50.326	43.217
Total	107.826	130.717

Auditors :
Name :	Mihir Shah and Associates Chartered Accountants
Address :	B-11, 1^st Floor, Royal Industrial Estate, Sewree Wadala Roda No.26, Wadala, Mumbai – 400031, Maharashtra, India
Tel. No.:	91-22-24166068 / 72
PAN N Income-tax PAN of auditor or auditor's firm :	AAKPS3076Q

Memberships :	--

Collaborators :	--

Associates:	--

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 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	10.000	10.000	10.000
(b) Reserves & Surplus	81.528	51.566	44.490
(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)	91.528	61.566	54.490

(3) Non-Current Liabilities
(a) long-term borrowings	179.575	177.585	192.390
(b) Deferred tax liabilities (Net)	10.383	4.321	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)	189.958	181.906	192.390

(4) Current Liabilities
(a) Short term borrowings	50.325	43.217	2.418
(b) Trade payables	90.485	54.252	48.261
(c) Other current liabilities	34.505	35.652	33.796
(d) Short-term provisions	1.081	3.139	0.014
Total Current Liabilities (4)	176.396	136.260	84.489

TOTAL	457.882	379.732	331.369

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	270.903	248.333	242.278
(ii) Intangible Assets	0.361	0.000	0.000
(iii) Capital work-in-progress	9.194	1.122	2.007
(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	4.214
(d) Long-term Loan and Advances	16.057	5.625	2.786
(e) Other Non-current assets	0.015	0.143	0.075
Total Non-Current Assets	296.530	255.223	251.360

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	116.945	78.198	62.835
(c) Trade receivables	32.599	38.257	13.489
(d) Cash and cash equivalents	1.339	2.944	0.959
(e) Short-term loans and advances	10.469	5.110	2.726
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	161.352	124.509	80.009

TOTAL	457.882	379.732	331.369

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	NA	NA	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA

Less	TOTAL EXPENSES		NA	NA	NA

	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA

Less	TAX		NA	NA	NA

	PROFIT/ (LOSS) AFTER TAX		29.962	7.076	4.294

	EARNINGS IN FOREIGN CURRENCY
		Export Sales	NA	515.846	394.241
	TOTAL EARNINGS		NA	515.846	394.241

	Earnings/ (Loss) Per Share (Rs.)		29.96	4.29	(5.24)

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	2.51	3.59	3.58

Current Ratio (Current Asset/Current Liability)	0.91	0.91	0.95

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	10.000	10.000	10.000
Reserves & Surplus	44.490	51.566	81.528
Net worth	54.490	61.566	91.528

long-term borrowings	192.390	177.585	179.575
Short term borrowings	2.418	43.217	50.325
Total borrowings	194.808	220.802	229.900
Debt/Equity ratio	3.575	3.586	2.512

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	No
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	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

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and Advances from related parties	122.075	90.085
Total	122.075	90.085

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10553003	30/09/2014	110,000,000.00	CITI BANK N.A.	FIRST INTERNATION FINANCIAL CENTRE,, PLOT NO. C-5 4 & 55, G-BLOCK, BKC, BANDRA (E), MUMBAI, MAHARASH TRA - 400051, INDIA	C45579513
2	10279188	04/03/2011	302,500,000.00	DBS BANK LIMITED	221, FORT HOUSE, 3RD FLOOR, D.N.ROAD, FORT, MUMBA I, MAHARASHTRA - 400001, INDIA	B10275410
3	10225248	18/06/2010	132,500,000.00	DBS BANK LIMITED	221, FORT HOUSE, 3RD FLOOR, D.N.ROAD, FORT, MUMBA I, MAHARASHTRA - 400001, INDIA	A87800744
4	10225245	18/06/2010	170,000,000.00	DBS BANK LIMITED	221, FORT HOUSE, 3RD FLOOR, D.N.ROAD, FORT, MUMBA I, MAHARASHTRA - 400001, INDIA	A87800413

FIXED ASSETS:

Tangible Assets (Owned)

v Land

v Building

v Plant and Machinery

v Computer Hardware

v Furniture and Fixtures

v Office Equipment

v Vehicles

Intangible Assets (Acquired)

v Computer Software

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.62.35
UK Pound	1	Rs.93.10
Euro	1	Rs.67.13

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	SUC

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	3
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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		45

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

INDEX OF CHARGES

Unit