MIRA INFORM REPORT

Report No. :	316270
Report Date :	18.04.2015

IDENTIFICATION DETAILS

Name :	M M PULSES PRIVATE LIMITED
Registered Office :	2258, 1^st Floor, Gali Raghunandan, Naya Bazar, Delhi – 110006
Tel. No.:	91-11-47333555
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.03.2012
Com. Reg. No.:	55-233415
Capital Investment / Paid-up Capital :	Rs. 5.000 Million
CIN No.: [Company Identification No.]	U15310DL2012PTC233415
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Mung Dal, Organic Mung Dal, Green Mung Dal, Urad Whole, Urad Dal, Urad Wash, mung Dal- Mung Whole, Mung Wash, Gram- Gram Whole, Gram Dal, Gram Flour, etc.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 16000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Though the company has witnessed decent increase in its turnover, profitability of the company is very low. Further, the company has low reserves during FY2014. However, trade relation are reported to be fair. Business is active. Payment 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. Manish Gupta
Designation :	Director
Contact No.:	91-11-47333555
Date :	14.04.2015

LOCATIONS

Registered Office :	2258, 1^st Floor, Gali Raghunandan, Naya Bazar, Delhi – 110006, India
Tel. No.:	91-11-47333555
Mobile No.:	91-9818583666 (Mr. Manish Gupta)
Fax No.:	91-11-47333557
Email:	mmpuises_mohit@yahoo.co.in
Website :	http://www.mmpulsespvtltd.com
Area :	Rented
Factory/ Warehouse:	Located at Delhi, India
Area :	Owned

DIRECTORS

As on: 30.09.2014

Name :

Manish Gupta

Designation :

Director

Address :

30, Tarun Enclave, Piampura, Saraswati Vihar, Opposite Sani Mandir, Delhi- 110034, Delhi, India

Date of Birth/Age :

23.06.1980

Date of Appointment :

26.03.2012

DIN No.:

02455339

PAN No.:

AETPG3639

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	U15310DL2012PTC233415	M M PULSES PRIVATE LIMITED	Director	26/03/2012	26/03/2012	-	Active	NO
2	U15400DL2013PTC251301	SNEH AGRIFOODS PRIVATE LIMITED	Director	01/05/2013	01/05/2013	30/08/2013	Active	NO
3	U15139DL2014PTC265528	ASPAM FOOD COLD STORAGE PRIVATE LIMITED	Director	27/02/2014	27/02/2014	18/03/2015	Active	NO

Name :

Mr. Mohit Mittal

Designation :

Director

Address :

30, Tarun Enclave, Piampura, Saraswati Vihar, Opposite Sani Mandir, Delhi- 110034, Delhi, India

Date of Birth/Age :

13.02.1985

Date of Appointment :

26.03.2012

DIN No.:

02455363

PAN No.:

AIWPM9299F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares	%age
Mohit Mittal	202850	40.57
Manish Gupta	174800	34.96
Mahinder Kumar	64450	12.89
Kusum Gupta	17050	3.41
Kavita Mittal	40850	8.17
Total	500000	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, Exporter and Supplier of Mung Dal, Organic Mung Dal, Green Mung Dal, Urad Whole, Urad Dal, Urad Wash, mung Dal- Mung Whole, Mung Wash, Gram- Gram Whole, Gram Dal, Gram Flour, etc.
Products :	Mung Dal, Organic Mung Dal, Green Mung Dal, Urad Whole, Urad Dal, Urad Wash, Mung Dal- Mung Whole, Mung Wash, Gram- Gram Whole, Gram Dal, Gram Flour, etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Suppliers :

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

Customers :

• Wholesaler and End User

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

No. of Employees :

25 (Approximately)

Bankers :

Bank Name	HDFC Bank Limited
Branch	HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, 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
Rupee term loans from banks	1.272	2.016
Rupee term loans from others	1.840	0.000
Short-term borrowings
Loans repayable on demand from banks	205.744	81.941
Total	208.856	83.957

Auditors :
Name :	Vishwas Gupta and Associates Chartered Accountant
Address :	284/13-A, Main Pandav Road, Opposite Sahdev Street , Vishwas Nagar , Shahdra, Delhi – 110032, India
PAN N Income-tax PAN of auditor or auditor's firm :	AKRPG7237N
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

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
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.000	5.000
(b) Reserves & Surplus	0.835	0.214
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	5.835	5.214
(3) Non-Current Liabilities
(a) long-term borrowings	3.112	2.016
(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)	3.112	2.016
(4) Current Liabilities
(a) Short term borrowings	235.722	102.826
(b) Trade payables	170.023	19.244
(c) Other current liabilities	22.587	1.512
(d) Short-term provisions	0.734	0.260
Total Current Liabilities (4)	429.066	123.842
TOTAL	438.013	131.072
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	31.638	26.802
(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)	0.512	0.393
(d) Long-term Loan and Advances	0.570	0.570
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	32.720	27.765
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	115.707	74.405
(c) Trade receivables	264.647	27.535
(d) Cash and cash equivalents	13.108	0.691
(e) Short-term loans and advances	11.831	0.676
(f) Other current assets	0.000	0.000
Total Current Assets	405.293	103.307
TOTAL	438.013	131.072

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income
	Other Income
	TOTAL	3109.081	1271.266
Less	TOTAL EXPENSES	3072.428	1249.153
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	36.653	22.113
Less	FINANCIAL EXPENSES	32.260	18.726
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	4.393	3.387
Less/ Add	DEPRECIATION/ AMORTISATION	3.068	3.307
	PROFIT BEFORE TAX	1.325	0.080
Less	TAX	0.703	(0.133)
	PROFIT AFTER TAX	0.622	0.214
	Earnings Per Share (Rs.)	1.24	0.43

Particulars	31.03.2015
Sales Turnover (Approximately)	1500.000

The above information has been parted by Mr. Manish Gupta (Director)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.02	0.02
Operating Profit Margin (PBDIT / Sales)	(%)	1.18	1.74
Return on Total Assets (PBT/Total Assets}	(%)	0.30	0.06
Return on Investment (ROI) (PBT/Networth)		0.23	0.02
Debt Equity Ratio (Total Debt /Networth)		40.93	20.11
Current Ratio (Current Asset/Current Liability)		0.94	0.83

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO:

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	5.000	5.000
Reserves & Surplus	0.214	0.835
Net worth	5.214	5.835
long-term borrowings	2.016	3.112
Short term borrowings	102.826	235.722
Total borrowings	104.842	238.834
Debt/Equity ratio	20.108	40.931

YEAR-ON-YEAR GROWTH:

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Total Income	1271.267	3109.081
	---	144.566

NET PROFIT MARGIN:

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Total Income	1271.267	3109.081
Profit	0.214	0.622
	0.02%	0.02%

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 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	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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and advances from directors	19.623	15.133
Loans and advances from others	10.355	5.752
Total	29.978	20.885

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10365578	27/11/2013 *	290,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, MAHARASHTRA - 400013, INDIA	B94365384

* Date of charge modification

FIXED ASSETS

Tangible assets

• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

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

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	SUM
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.