MIRA INFORM REPORT

Report No. :	317331
Report Date :	20.04.2015

IDENTIFICATION DETAILS

Name :	ALFA POLYMERS PRIVATE LIMITED (w.e.f. 23.11.2012)
Formerly Known As :	NEELGIRI MOULD PLAST PRIVATE LIMITED
Registered Office :	Pocket-G-29, H. No.33, Sector-3, Rohini, Delhi – 110 085
Tel. No.:	91-11-27762727
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.12.2011
Com. Reg. No.:	55-228708
Capital Investment / Paid-up Capital :	Rs.6.000 million
CIN No.: [Company Identification No.]	U25209DL2011PTC228708
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 :	Subject is engaged in the business of manufacturing and trading of plastic moulds and dies.
No. of Employees :	Approximately 50 (In Office: 20 and In Factory: 30)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 17500
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Reserves of the company seems to be low during 2014. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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

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. Bhardwaj
Designation :	Accounts Department
Contact No.:	91-9717358000
Date :	16.04.2015

LOCATIONS

Registered Office :	Pocket-G-29, H. No.33, Sector-3, Rohini, Delhi – 110 085, India
Tel. No. :	91-11-27762727
Mobile No. :	91-9717358000 (Mr. Bhardwaj)
Fax No. :	91-11-27762727
E-Mail :	pcb@neelgirigroup.com
Website :	http://www.neelgirimachinery.com
Location :	Owned
Factory :	154/597, Village Pooth Khurad, Next To Tulip Public School, Near Bawana Industrial Area, Delhi – 110 039, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Anil Kumar

Designation :

Director

Address :

Flat No.21, 1^st Floor Akash Ganga Apartments, Pocket-4, Sector-24, Rohini, New Delhi – 110 085, India

Date of Birth/Age :

07.08.1979

Date of Appointment :

13.12.2011

DIN No. :

05135258

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	U25209DL2011PTC228708	ALFA POLYMERS PRIVATE LIMITED	Director	13/12/2011	13/12/2011	-	Active	NO
2	U25209DL2013PTC257242	A.M. POLYPLAST PRIVATE LIMITED	Director	05/09/2013	05/09/2013	-	Active	NO
3	U74999DL2015PTC276938	NEELGIRI MACHINERY PRIVATE LIMITED	Director	19/02/2015	19/02/2015	-	Active	NO

Name :

Mr. Subhash Chand Garg

Designation :

Director

Address :

BC-28A, East Shalimar Bagh, Delhi – 110 088, India

Date of Birth/Age :

05.05.1979

Date of Appointment :

01.05.2012

DIN No. :

05284411

Name :

Mr. Mukesh Kumar Goel

Designation :

Additional Director

Address :

J-1/24-A, PH-1, Budh Vihar, Delhi – 110 004, India

Date of Birth/Age :

12.09.1982

Date of Appointment :

01.04.2014

DIN No. :

05135302

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	U25209DL2011PTC228708	ALFA POLYMERS PRIVATE LIMITED	Additional director	01/04/2014	13/12/2011	-	Active	NO
2	U25209DL2013PTC257242	A.M. POLYPLAST PRIVATE LIMITED	Director	05/09/2013	05/09/2013	-	Active	NO
3	U74999DL2015PTC276938	NEELGIRI MACHINERY PRIVATE LIMITED	Director	19/02/2015	19/02/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Bhardwaj
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of holding
Anil Kumar	506000	84.33
Subhash Chand Garg	64000	10.67
Mukesh Kumar Goel	30000	5.00
Total	600000	100.00

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacturing and trading of plastic moulds and dies.
Products :	· Plastic Corrugated Sheets · PP Hollow Sheet
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Raw Materials
Countries :	China Japan
Terms :
Selling :	Cash, Cheque and Credit (60 days)
Purchasing :	Cash, Cheque and Credit (60 days)

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

No. of Employees :

Approximately 50 (In Office: 20 and In Factory: 30)

Bankers :

Banker Name	State Bank of India
Branch Address	SMECCC Branch, Nehru Place, New Delhi – 110 019, 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)	Cash Credit: Rs.5.000 million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Loans from Banks	0.594	0.797
SHORT TERM BORROWINGS
Term Loans from Banks	0.633	0.427
Working Capital - Loans repayable on demand	7.071	0.533
Total	8.298	1.757

Banking Relations :	--
Auditors :
Name :	S.S.R. and Company Chartered Accountants
Address :	301, Amba Tower, Sector-9, Rohini, Delhi – 110 085, India
Tel. No. :	91-11-27554991-93
Fax No. :	91-11-27554993
E-Mail :	help@ssr.net.in
Website :	www.ssr.net.in
PAN No.:	AAFFG4905R
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
600000	Equity Shares	Rs.10/- each	Rs.6.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.10/- each	Rs.6.000 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	6.000	0.600	0.600
(b) Reserves & Surplus	0.133	0.101	(0.037)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	5.357	0.000
Total Shareholders’ Funds (1) + (2)	6.133	6.058	0.563
(3) Non-Current Liabilities
(a) Long-term borrowings	5.769	1.670	0.050
(b) Deferred tax liabilities (Net)	0.754	0.183	0.055
(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)	6.523	1.853	0.105
(4) Current Liabilities
(a) Short term borrowings	7.704	1.693	0.000
(b) Trade payables	10.957	13.516	8.134
(c) Other current liabilities	2.996	1.050	0.049
(d) Short-term provisions	0.154	0.063	0.004
Total Current Liabilities (4)	21.811	16.322	8.187
TOTAL	34.467	24.233	8.855
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.953	4.480	2.614
(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	0.043
Total Non-Current Assets	4.953	4.480	2.657
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.268	9.209	0.132
(c) Trade receivables	12.407	9.040	5.560
(d) Cash and cash equivalents	0.026	0.158	0.422
(e) Short-term loans and advances	0.080	0.010	0.000
(f) Other current assets	3.733	1.336	0.084
Total Current Assets	29.514	19.753	6.198
TOTAL	34.467	24.233	8.855

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	NA	NA	6.683
		Other Income	NA	NA	0.000
		TOTAL	NA	NA	6.683
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX		0.033	0.138	(0.037)
	Earnings / (Loss) Per Share (Rs.)		0.06	2.30	(0.62)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	NA	NA	(0.55)
Debt Equity Ratio (Total Debt/Networth)		2.20	0.56	0.09
Current Ratio (Current Asset/Current Liability)		1.35	1.21	0.76

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	0.600	0.600	6.000
Reserves & Surplus	(0.037)	0.101	0.133
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	5.357	0.000
Net worth	0.563	6.058	6.133
Long Term borrowings	0.050	1.670	5.769
Short Term borrowings	0.000	1.693	7.704
Total borrowings	0.050	3.363	13.473
Debt/Equity ratio	0.089	0.555	2.197

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 about 3 months	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	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 LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
From Directors	3.760	0.000
From Others	1.415	0.873
SHORT TERM BORROWINGS
From Directors or their relatives	0.000	0.733
Total	5.175	1.606

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10450745	29/08/2013	7,000,000.00	STATE BANK OF INDIA	SMECCC BRANCH, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B85610897

FIXED ASSETS

· Computer Equipment

· Plant and Machinery

· Office Equipment

· Vehicles

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.93.09
Euro	1	Rs.67.13

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
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	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	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.