MIRA INFORM REPORT

Report No. :	334696
Report Date :	07.08.2015

IDENTIFICATION DETAILS

Name :	RANEE POLYMERS PRIVATE LIMITED
Registered Office :	C-1/47 Safdarjng Development Area, New Delhi – 110016
Tel. No.:	91-11-23262656
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.03.1990
Com. Reg. No.:	55-039611
Capital Investment / Paid-up Capital :	Rs. 45.000 Million
CIN No.: [Company Identification No.]	U74899DL1990PTC039611
IEC No.:	0592055353
TAN No.: [Tax Deduction & Collection Account No.]	DELR08580F
PAN No.: [Permanent Account No.]	AAACR3031K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Injection moulding and blow moulded autoparts and assemblies, air cleaners, handle covers, oil tanks and tail covers among other products.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 500000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 1990 having a moderate track record. The rating is constrained on account of continuous declined in the profits of the company. However, trade relations are reported as fair. Business is active. Payments 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Rajeev Bansal
Designation :	Chartered Accountant
Contact No.:	91-9810572385
Date :	04.08.2015

LOCATIONS

Registered Office :	C-1/47 Safdarjng Development Area, New Delhi – 110016, India
Tel. No.:	91-11- 23262656
Mobile No.:	91-9810572385 (Mr. Rajeev Bansal)
Fax No.:	Not Available
E-Mail :	4skjain@gmail.com
Website :	http://www.raneepolymers.bizdir.co.in
Location :	Owned
Locality :	Commercial
Factory 1 :	Plot No. 87, Sector-8 IMT, Manesar, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-2290663/ 2291102
Mobile No.:	91-9810592006 (Mr. Rahul)
Area :	7875 Sq. Ft
Factory 2 :	157, Sector – 3, IMT. Manesaryagra, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-2291103/ 2290663/ 2290150/ 2290664
Fax No.:	91-124-2290664
Area :	4050 Sq. Ft

DIRECTORS

AS ON: 30.09.2014

Name :

Mr. Abhishek Jain

Designation :

Director

Address :

C-1/47, Safdarjung Development Area, New Delhi – 110016, India

Date of Birth/Age :

14.06.1984

Date of Appointment :

17.06.2002

DIN No.:

00792620

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	U74899DL1990PTC039611	RANEE POLYMERS PRIVATE LIMITED	Director	17/06/2002	17/06/2002	-	Active	NO
2	U74200DL2005PTC143864	Ranee Holdings Private Limited	Director	28/12/2005	28/12/2005	-	Active	NO

Name :

Mrs. Neelam Jain

Designation :

Director

Address :

C-1/47, Safdarjung Development Area, New Delhi – 110016, India

Date of Birth/Age :

13.02.1962

Date of Appointment :

01.07.1990

DIN No.:

00792626

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	U74899DL1990PTC039611	RANEE POLYMERS PRIVATE LIMITED	Director	01/07/1990	01/07/1990	-	Active	NO
2	U74200DL2005PTC143864	Ranee Holdings Private Limited	Director	28/12/2005	28/12/2005	-	Active	NO

Name :

Mr. Rajiv Jain

Designation :

Director

Address :

C-1/47, Safdarjung Development Area, New Delhi – 110016, India

Date of Birth/Age :

14.12.1959

Date of Appointment :

01.05.1997

DIN No.:

00792616

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	U74899DL1990PTC039611	RANEE POLYMERS PRIVATE LIMITED	Director	01/05/1997	01/05/1997	-	Active	NO
2	U74200DL2005PTC143864	Ranee Holdings Private Limited	Director	28/12/2005	28/12/2005	-	Active	NO

Name :

Mrs. Shreya Jain

Designation :

Additional director

Address :

B-17, Sector 14, Gautam Budh Nagar, Noida - 201301, Uttar Pradesh, India

Date of Birth/Age :

17.07.1986

Date of Appointment :

11.05.2011

DIN No.:

03511982

Name :

Mr. Subhash Chand Jain

Designation :

Director

Address :

C-1/47, Safdarjung Development Area, New Delhi – 110016, India

Date of Birth/Age :

05.01.1940

Date of Appointment :

01.04.1993

DIN No.:

00792608

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	U74899DL1990PTC039611	RANEE POLYMERS PRIVATE LIMITED	Director	01/04/1993	01/04/1993	-	Active	NO
2	U74200DL2005PTC143864	Ranee Holdings Private Limited	Director	28/12/2005	28/12/2005	-	Active	NO

Name :

Mrs. Saubhagyavati Jain

Designation :

Director

Address :

C-1/47, Safdarjung Development Area, New Delhi – 110016, India

Date of Appointment :

31.10.2014

DIN No.:

07007185

KEY EXECUTIVES

Name :	Valakati Laxman
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2014

Names of Shareholders	No. of Shares
Saubhagyavati Jain	26932
Rajiv Jain	134750
Rajiv Jain and Sons HUF	24225
Abhishek Jain	91695
Namrata Jain	150
Prerna Jain	1000
Asha Jain	15
Mony Jain	15
Vinay Chand Jain	15
Vinay Chand Jain HUF	15
Raj Khanna	15
Naveen Chand Khanna	15
Neelam Jain	84750
Subhash Chand Jain	70870
Subhash Chand Jain HUF	15538
Total	450000

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 of Injection moulding and blow moulded autoparts and assemblies, air cleaners, handle covers, oil tanks and tail covers among other products.
Products :	Injection moulding and blow moulded autoparts and assemblies Air cleaners Handle covers Oil tanks and tail covers
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30/60/90 Days)
Purchasing :	Cash and Credit (30/60/90 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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

End Users and OEM’s

Reference :	Denso Limited
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
Honda Motorcycles and Scooters Yamaha Motors Honda Siel Cars India

No. of Employees :

100 (Approximately)

Bankers :

Banker Name	HDFC Bank
Branch Address	Lower Parel (West, Mumbai), Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-665210000
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. 98.500 Million
Account Operation	Not Divulged
Remarks (If any)	Ringing
State Bank of India, Commercial Branch, Palam Court, Gurgaon - 122101, Haryana, India State Bank of India, SME Branch, Vatika First India Place, M.G. Road, Gurgaon – 122002, Haryana, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loan from Banks	22.875	32.244
SHORT TERM BORROWING
Loans Repayable on Demand	78.646	78.854
Total	101.521	111.098

Auditors :
Name :	Sunil Jain and Company Chartered Accountants
Address :	43, Darya Ganj, New Delhi – 110002, India
Tel. No.:	91-11-23262656
Fax No.:	91-11-23280327
E-Mail :	mail@skjca.in
PAN No.:	AAQFM1491B
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
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs.100/- each	Rs. 45.000 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	45.000	45.000	45.000
(b) Reserves & Surplus	136.242	135.094	128.020
(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)	181.242	180.094	173.020
(3) Non-Current Liabilities
(a) long-term borrowings	102.428	108.835	111.669
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	5.725	11.181	5.847
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	108.153	120.016	117.516
(4) Current Liabilities
(a) Short term borrowings	78.646	78.854	60.371
(b) Trade payables	23.355	32.092	33.261
(c) Other current liabilities	27.658	9.307	3.531
(d) Short-term provisions	0.000	0.000	3.109
Total Current Liabilities (4)	129.659	120.253	100.272
TOTAL	419.054	420.363	390.808
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	275.871	285.624	289.250
(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	1.384	1.384	1.384
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	14.829	10.456	10.170
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	292.084	297.464	300.804
(2) Current assets
(a) Current investments	0.000	0.000	5.159
(b) Inventories	47.078	55.096	26.453
(c) Trade receivables	73.266	64.167	53.988
(d) Cash and cash equivalents	0.585	0.907	2.007
(e) Short-term loans and advances	6.041	2.729	2.397
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	126.970	122.899	90.004
TOTAL	419.054	420.363	390.808

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income
	Other Income
	TOTAL	371.436	359.568	357.321
Less:	EXPENSES	350.088	330.766	328.577
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	21.348	28.802	28.744
Less:	DEPRECIATION/ AMORTISATION	20.477	19.160	17.067
	PROFIT/ (LOSS) BEFORE TAX	0.871	9.642	11.677
Less:	TAX	(0.277)	2.568	2.317
	PROFIT/ (LOSS) AFTER TAX	1.148	7.074	9.360
Add:	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.354	37.994
Less:	APPROPRIATIONS
	Transfer to General Reserve		9.334	40.000
	Total		9.334	40.000
	Balance Carried to the B/S	NA	5.094	7.354
	Earnings / (Loss) Per Share (Rs.)	2.55	15.72	20.80

Particulars	31.03.2015
Sales Turnover (Approximately)	400.000

The above information has been parted by Mr. Rajeev Bansal (Chartered Accountant)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net Cash flow from (used in) Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.31	1.97	2.62
Return on Total Assets (PBT/Total Assets}	(%)	0.21	2.30	3.00
Return on Investment (ROI) (PBT/Networth)		0.00	0.05	0.07
Debt Equity Ratio (Total Debt /Networth)		1.00	1.04	0.99
Current Ratio (Current Asset/Current Liability)		0.98	1.02	0.90

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	45.000	45.000	45.000
Reserves & Surplus	128.020	135.094	136.242
Net worth	173.020	180.094	181.242
long-term borrowings	111.669	108.835	102.428
Short term borrowings	60.371	78.854	78.646
Total borrowings	172.040	187.689	181.074
Debt/Equity ratio	0.994	1.042	0.999

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)
Total Income	357.321	359.568	371.436
		0.629	3.301

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	357.321	359.568	371.436
Profit	9.360	7.074	1.148
	2.62%	1.97%	0.31%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last four years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS:
Loans and advances from related parties	60.853	59.634
Other Loans and Advances	18.700	16.957
Total	79.553	76.591

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10461008	23/12/2014 *	104,500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	C44252716
2	10237116	11/08/2010	12,900,000.00	INTEC CAPITAL LIMITED	701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI -110019, INDIA	A93699809

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. 63.76
UK Pound	1	Rs. 99.60
Euro	1	Rs. 69.71

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	THR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	5
--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		31

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.