MIRA INFORM REPORT

Report No. :	317891
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	COSMOS NONWOVEN PRIVATE LIMITED
Registered Office :	6/7 Mahal Industrial Estimate. Unit 19 Mahakali Caves Road Andheri (East), Mumbai – 400093, Maharashtra
Tel No. :	91-22-32913732
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.11.2005
Com. Reg. No.:	11 - 157832
Capital Investment / Paid-up Capital :	Rs. 0.150 Million
CIN No.: [Company Identification No.]	U17219MH2005PTC157832
TAN No.: [Tax Deduction & Collection Account No.]	MUMC14492C
PAN No.: [Permanent Account No.]	AACCC8623N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of textile and nonwoven fabric.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	The subject is an established company having moderate track record. The company has accumulated losses which has eroded its net worth. However, management is in the process of wiping of its losses and has reported profit during the year 2013-14. Net worth, however, remains negative. Trade relations are fair. Business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on safe and secured 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.

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. Shah
Designation :	Director
Contact No.:	91-9833203867
Date :	16.04.2015

LOCATIONS

Registered Office :	6/7 Mahal Industrial Estimate. Unit 19 Mahakali Caves Road Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-32913732
Mobile No.:	91-9833203867 (Mr. Shah)
Fax No.:	Not Available
E-Mail :	Cosmos_nw@yahoo.co.in cabisoni@yahoo.co.in
Location :	Owned
Factory 1 :	Bhilad Taluka Umar Gaon, Vapi, Gujarat, India

DIRECTORS

As on 29.09.2014

Name :

Mr. Bharat Chandulal Shah

Designation :

Director

Address :

1009, Shanti Apartment, Mathuradas Road, Kandivali (West), Mumbai -400067, Maharashtra, India

Date of Birth/Age :

16.06.1953

Date of Appointment :

06.12.2005

DIN No.:

00735516

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	U18101MH2001PTC131087	ADITYA NON-WOVEN PRIVATE LIMITED	Director	19-04-2001	19-04-2001	-	Active	NO
2	U17219MH2005PTC157832	COSMOS NONWOVEN PRIVATE LIMITED	Director	06-12-2005	06-12-2005	-	Active	NO

Name :

Navinchandra Chandulal Parikh

Designation :

Director

Address :

4, HEM Niketan, N. S. Road, No. 5, Vile Parle, Mumbai -400056, Maharashtra, India

Date of Birth/Age :

08.11.1938

Date of Appointment :

17.01.2008

DIN No.:

00729504

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	U27300MH1967PTC013725	MAHAL DIE CAST AND ELECTRIC PRIVATE LIMITED	Director	13-04-1976	13-04-1976	-	Active	NO
2	U18101MH2001PTC131087	ADITYA NON-WOVEN PRIVATE LIMITED	Director	02-03-2001	02-03-2001	-	Active	NO
3	U17219MH2005PTC157832	COSMOS NONWOVEN PRIVATE LIMITED	Director	17-01-2008	17-01-2008	-	Active	NO

Name :

Mr. Sanay Parikh

Designation :

Director

Address :

4, Hemniketan, N. S. Road, No.5, Vile Parle, Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

02.10.1990

Date of Appointment :

12.09.2011

DIN No.:

03568337

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	U17219MH2005PTC157832	COSMOS NONWOVEN PRIVATE LIMITED	Director	12-09-2011	20-06-2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares	%age holding
Bharat Chandulal Shah	5000	33.33
Navinchandra Chandulal Parikh	5000	33.33
Sanay Parikh	5000	33.33
Total	15000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of textile and nonwoven fabric.
Products :	Textile Nonwoven Fabric
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Machinery
Countries :	China Germany
Terms :
Selling :	Advance and Payment
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 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 :

20 (Approximately)

Bankers :

Bank Name	ICICI Bank Limited
Branch	Nariman Point, Mumbai, 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
Loans and Advances from Related Parties	13.510	12.522
Other Loans and Advances	2.952	2.306
Short-term borrowings
Other Loans and Advances - Tata Capital Limited	0.248	0.222
Total	16.710	15.050

Auditors :
Name :	B. I. Soni and Associates Chartered Accountants
Address :	109, Sagar Shopping Centre,1^ST Floor, 76, J. P. Road, Andheri (West), Mumbai – 400058, Maharashtra, India
Tel. No.:	91-26773676/26775507/26794856
Fax No.:	91-26775965
E-Mail :	cabisoni@yahoo.co.in
PAN N Income-tax PAN of auditor or auditor's firm :	AAHPS2932G
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
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000	Equity Shares	Rs.10/- each	Rs.0.150 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	0.150	0.150	0.150
(b) Reserves & Surplus	(2.767)	(4.112)	(4.579)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.350	0.350
Total Shareholders’ Funds (1) + (2)	(2.617)	(3.612)	(4.079)
(3) Non-Current Liabilities
(a) long-term borrowings	16.462	14.828	15.617
(b) Deferred tax liabilities (Net)	0.000	0.000	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)	16.462	14.828	15.617
(4) Current Liabilities
(a) Short term borrowings	0.248	0.222	0.199
(b) Trade payables	11.821	9.907	8.221
(c) Other current liabilities	0.437	0.507	0.450
(d) Short-term provisions	0.071	0.115	0.000
Total Current Liabilities (4)	12.577	10.751	8.870
TOTAL	26.422	21.967	20.408
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.194	9.033	9.035
(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)	0.095	0.104	0.095
(d) Long-term Loan and Advances	0.276	0.276	0.281
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9.565	9.413	9.411
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.700	4.127	3.859
(c) Trade receivables	10.967	6.987	5.637
(d) Cash and cash equivalents	1.450	0.626	0.836
(e) Short-term loans and advances	0.642	0.659	0.249
(f) Other current assets	0.098	0.155	0.416
Total Current Assets	16.857	12.554	10.997
TOTAL	26.422	21.967	20.408

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income (Approximately)	42.000	34.000	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	1.345	0.632	3.306
	Earnings / (Loss) Per Share (Rs.)	NA	NA	NA

Expected Sales (2014-2015): Rs.53.000 Million

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

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	(6.39)	(4.17)	(3.88)
Current Ratio (Current Asset/Current Liability)	1.34	1.17	1.24

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	0.150	0.150	0.150
Reserves & Surplus	(4.579)	(4.112)	(2.767)
Net worth	(4.429)	(3.962)	(2.617)
long-term borrowings	15.617	14.828	16.462
Short term borrowings	0.199	0.222	0.248
Total borrowings	15.816	15.050	16.710
Debt/Equity ratio	(3.571)	(3.799)	(6.385)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	42.000	34.000
		(19.048)

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		42.000	34.000
Profit	3.306	0.632	1.345
		1.50%	3.96%

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 two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL HIGHLIGHTS

During the year, the company has incurred a profit of Rs. 1.344 Million against profit of Rs. 0.632 Million incurred during the previous year.

INDEX OF CHARGES

No Charges Exist For Company

FIXED ASSETS

Tangible Assets

• Factory Building and Cont.
• Plant and Machinery
• Factory Land
• Computer
• Electrical Installation
• Weighing Scale
• Air Conditioner
• Motar Vehicles
• Furniture and Fixture
• Factory Equipment’s
• Laboratory Equipment’s

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.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.49

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		13

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.