MIRA INFORM REPORT

Report No. :	336090
Report Date :	08.08.2015

IDENTIFICATION DETAILS

Name :	PHARM AROMATIC CHEMICALS
Registered Office :	507, Nain Krupa Building, 118/122 Kazi Sayed Station, Masjid Bunder, Mumbai – 400003, Maharashtra
Tel. No.:	91-22-23432526
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment:	1974
Capital Investment / Paid-up Capital :	Rs. Million
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Partnership Concern with an unlimited liability of the Partners
Line of Business :	Trader, Distributor and Supplier of aromatic chemicals, natural essential oil, resinoids absolute and perfumery compound.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established partnership concern having satisfactory track record. The concern’s overall performance is progressing. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The concerns can be considered for business dealings at usual 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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Mahesh K. Thakkar
Designation :	Partner
Contact No.:	91-9821334436
Date :	07.08.2015

LOCATIONS

Registered Office :	507, Nain Krupa Building, 118/122, Kazi Sayad Station, Masjid Bunder, Mumbai – 400 003, Maharashtra, India
Tel. No.:	91-22-23432526/ 23448032
Mobile No.:	91-9821334436 (Mr. Mahesh Thakkar)
Fax No.:	91-22-23401805
E-Mail :	thakker_group@outlook.com
Area :	400 sq. ft.
Location :	Rented
Warehouse :	Bhiwandi, Mumbai, Maharashtra, India

PARTNERS

Name :	Mr. Madhu L. Thakkar
Designation :	Partner
Qualification :	Graduate
Name :	Mr. Kantilal K. Thakkar
Designation :	Partner
Qualification :	Graduate
Name :	Mr. Mahesh K. Thakkar
Designation :	Partner
Qualification :	Graduate

KEY EXECUTIVES

Name :	Mr. Prakash Sarvade
Designation :	Accounts Manager

BUSINESS DETAILS

Line of Business :	Trader, Distributor and Supplier of aromatic chemicals, natural essential oil, resinoids absolute and perfumery compound.
Products :	Aromatic Chemicals Natural Essential Oil Resinoids Absolute and Perfumery Compound
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	Germany France Japan UK Spain Dubai
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

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, Retailers, 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 :

5 (Approximately)

Bankers :

Banker Name	Punjab and Sind Bank
Branch Address	Mumbai, Maharashtra, India
Person Name (With Designation)	Mr. Rawal
Contact Number	91-22-23439426
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

Banking Relations :	--
Auditors :
Name :	Minesh Mehta and Associates Chartered Accountants
Memberships :	Not Available
Collaborators :	Not Available
Sister Concerns :	· Balaji Trading Company · Embee Corporation · Tirupati Traders

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars	31.03.2015	31.03.2014
Sales Turnover (Approximately)	70.000	75.900

The above information has been parted by Mr. Mahesh K. Thakkar

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Partner’s Capital		22.116	20.447
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		22.116	20.447
LOAN FUNDS
1] Secured Loans		4.825	7.674
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		4.825	7.674
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		26.941	28.121
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.386	0.449
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.358	22.183
	Sundry Debtors	8.928	12.649
	Cash & Bank Balances	5.844	3.619
	Other Current Assets	0.057	0.024
	Loans & Advances	2.757	1.643
Total Current Assets		40.944	40.118
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.298	11.977
	Other Current Liabilities	0.008	0.093
	Provisions	0.083	0.376
Total Current Liabilities		14.389	12.446
Net Current Assets		26.555	27.672
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		26.941	28.121

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	54.138	47.166
		Other Income	0.399	1.480
		TOTAL	54.537	48.646
Less	EXPENSES
		Cost of Goods Sold	44.830	39.635
		Clearing & Forwarding Exp.	0.430	0.471
		Octroi paid	0.027	0.000
		Exchange Rate Fluctuation	0.266	0.358
		Advertisement	0.008	0.004
		Audit Fees (IT)	0.020	0.020
		Audit Fees (ST)	0.012	0.011
		Bank Charges	0.006	0.014
		Bombay Sales Tax (MVAT)	0.022	0.000
		Central Sales Tax	0.053	0.000
		Commission	0.030	0.017
		Conveyance	0.014	0.018
		Coolie & Cartage	0.044	0.035
		Donation (80 G)	0.007	0.001
		Donation (us 35(i) & (ii))	0.150	0.200
		Electricity Expenses	0.007	0.004
		Freight Charges	0.000	0.027
		Godwon Rent	0.020	0.010
		Insurance Charges	0.101	0.113
		Interest on Car Loan	0.008	0.025
		Interest on Loan	0.924	0.840
		Interest to Partners	2.453	2.157
		Legal & Professional Fees	0.018	0.015
		License Fees	0.003	0.004
		Membership Fees	0.008	0.005
		Misc. Expenses	0.075	0.070
		Motor Car Expenses	0.073	0.061
		Office Compensation	0.036	0.036
		Packing Charges	0.017	0.014
		Postage & Telegram	0.054	0.083
		Printing & Stationery	0.025	0.023
		Rent	0.031	0.036
		Repair & Maintenance	0.032	0.001
		Salaries & Bonus	0.154	0.142
		Salary to Partners	2.554	2.355
		Sales Promotion	0.033	0.000
		Telephone Expenses	0.029	0.028
		Transportation	0.113	0.093
		Traveling Expenses	0.027	0.015
		Warehousing Charges	0.037	0.036
		Sundry Balance W/O	0.020	0.000
		TOTAL	52.771	46.977
	PROFIT/ (LOSS) BEFORE DEPRECIATION		1.766	1.669
Less	DEPRECIATION		0.063	0.075
	NET PROFIT/ (LOSS)		1.703	1.594

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	3.15	3.38
Return on Total Assets (PBT/Total Assets}	(%)	4.12	3.93
Return on Investment (ROI) (PBT/Networth)		0.08	0.08
Debt Equity Ratio (Total Debt /Networth)		0.22	0.38
Current Ratio (Current Asset/Current Liability)		2.85	3.22

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	Yes
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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming four year	No
29	Profitability for last two 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

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.63.81
UK Pound	1	Rs.98.93
Euro	1	Rs.69.66

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	HNA
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.