MIRA INFORM REPORT

Report No. :	352461
Report Date :	04.12.2015

IDENTIFICATION DETAILS

Name :	PERMALI WALLACE PRIVATE LIMITED (w.e.f. 30.05.2004)
Formerly Known As :	PERMALI WALLACE LIMITED
Registered Office :	Opposite Reserve Bank of India, Hoshangabad Road, Bhopal – 462011, Madhya Pradesh
Tel. No.:	91-755-2550085/2552192/4272657
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.08.1961
Com. Reg. No.:	10-000927
Capital Investment / Paid-up Capital :	Rs. 30.000 Million
CIN No.: [Company Identification No.]	U02001MP1961PTC000927
TIN No.:	23643602339
IEC No.:	1188003984
TAN No.: [Tax Deduction & Collection Account No.]	BPLP01367C
PAN No.: [Permanent Account No.]	AABCP7557R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of wood based densified impregnated laminates for Industrial and Engineering Applications. (Confirmed by management)
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1961 having moderate track record. As per Registrar of Companies, the date of balance sheet i.e. financial filed is shown as 31.03.2015 but the documents related to the financials for the year 2015 are not available from any sources. As per available financial of 2014, the company has incurred a loss from its operational activities. Further, the borrowings recorded by the company are huge and increasing over years, which further act as a threat to the liquidity position. Their 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

Rating Agency Name	ICRA
Rating	B+ (Term Loans)
Rating Explanation	Risk-prone-credit-quality and carries very high credit risk
Date	January, 2015

Rating Agency Name	ICRA
Rating	A4 (Non-Fund Based Facilities)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	January, 2015

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Mihir Merchant
Designation :	Chief Executive Officer
Contact No.:	91-9826050516
Date :	02.12.2015

LOCATIONS

Registered Office/ Factory :	Opposite Reserve Bank of India, Hoshangabad Road, Bhopal – 462011, Madhya Pradesh, India
Tel. No.:	91-755-2550085/ 2552192/ 4272657/ 2555633/ 4203333/ 2552195/ 4049161/ 2601894/ 4049155/ 2550508/ 550504/ 4049100
Mob No.;	91-9826050516 (Mr. Mihir Merchant)
Fax No.:	91-755-2550504
E-Mail :	permali@vsnl.com permali@sancharnet.in info@permaliwallace.com sales@permaliwallace.com purchase@permaliwallace.com contact@permaliwallace.com
Website :	http://www.permaliwallace.com
Area:	8 Acres
Location:	Owned
Locality:	Industrial
Factory 2 :	Mandideep, Bhopal, Madhya Pradesh, India
Branch Office:	# 43 Nariman Bhavan, 4^th Floor, 227 Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22045076/ 77/78

DIRECTORS

As on 30.08.2014

Name :

Mr. Subhash Vithaldas

Designation :

Whole-Time Director

Address :

Permali House, Hoshangabad Road, Bhopal - 462011, Madhya Pradesh, India

Date of Birth/Age :

07.01.1946

Date of Appointment :

01.04.2014

DIN No.

00012684

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	U15400MH1955PTC009539	VISSANJI KHIMJI AND COMPANY PRIVATE LIMITED	Director	01/12/1992	01/12/1992	-	Active	NO
2	U02001MP1961PTC000927	PERMALI WALLACE PRIVATE LIMITED	Whole-time director	01/04/2014	01/11/1996	-	Active	NO
3	U67120MP1997PTC012024	PUMIK ENGINEERING COMPONENTS PRIVATE LIMITED	Director	28/08/1999	28/08/1999	-	Active	NO

Name :

Mr. Mahesh Vithaldas

Designation :

Whole-Time Director

Address :

Permali House, Hoshangabad Road, Bhopal - 462011, Madhya Pradesh, India

Date of Birth/Age :

30.03.1942

Date of Appointment :

01.04.2014

DIN No.

00013014

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	U02001MP1961PTC000927	PERMALI WALLACE PRIVATE LIMITED	Whole-time director	01/04/2014	01/04/2011	-	Active	NO
2	U24224MP1980PTC005012	PERMACAST PRIVATE LIMITED.	Director	26/09/2011	20/08/2011	-	Active	NO

Name :

Mr. Bankim Hamir

Designation :

Director

Address :

Flat #92/93, Ashutosh Coop. Housing Society Limited, 38A, L. Jagmohandas Marg, Mumbai - 400036, Maharashtra, India

Date of Birth/Age :

08.09.1947

Date of Appointment :

18.08.2004

DIN No.

00045864

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	U21016MH1994PTC078614	SUPERIOR BOARD PRODUCTS PVT LTD	Director	26/05/1994	26/05/1994	-	Active	NO
2	U02001MP1961PTC000927	PERMALI WALLACE PRIVATE LIMITED	Director	18/08/2004	18/08/2004	-	Active	NO
3	U51393MH2005PTC154720	ANCHOR PLYWOOD AND PANEL PRODUCTS PRIVATE LIMITED	Director	12/07/2005	12/07/2005	01/11/2011	Active	NO
4	U20100MH1944PTC004192	INDIAN PLYWOOD MANUFACTURING COMPANY PRIVATE LIMITED	Director	29/06/2007	29/06/2007	-	Active	NO
5	U51109MH1938PTC002788	B M D CHEMICALS PRIVATE LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
6	U20210MH1998PTC115195	WOODCHEM TRADE LINKS (INDIA) PRIVATE LIMITED	Director	25/09/2014	11/03/2014	-	Active	NO
7	U99999MH1947PTC005773	B TRIKAMLAL AND COMPANY PRIVATE LIMITED	Director	25/09/2014	11/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay Sharma
Designation :	Secretary
Address :	64, Annpurna Nagar, Indore - 452009, Madhya Pradesh, India
Date of Appointment :	24.06.2006
PAN No:	BDPPS0654F
Name :	Mr. Mihir Merchant
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

LIST OF ALLOTTEE

As on 03.07.2015

Names of Shareholders	No. of Shares
Shri Bankim Hamir and Smt. Panna Bankim	19950
Shri Bankim Hamir	20533
Shri Bankim Hamir, Smt. Panna Bankim, Gauranji Manon Porecha	1170
Smt. Panna Bankim and Shri Bankim Hamir	41653
Smt. Uma Virendra Ashar and Shri Bankim Hamir	83305
Smt. Sushila Virendra and Smt. Panna Bankim	3156
Shri Hemen Chandrahas and Smt.Jyoti Hemen	50200
Shri Hemen Chandrahas and Smt.Jyoti Hemen	2000
Smt.Jyoti Hemen and Shri Hemen Chandrahas	5923
Shri Ashok Chandrahas and Smt.Jhanvi Ashok	1800
Shri Haresh Vijaysinh and Smt. Sonal Haresh	1587
Smt. Kumud Pratapsinh and Shri Mahesh Vithaldas	50
Shri Yashveersingh Lauly	50
Shri kunal S. Merchant	16686
Shri Shantanu Vithaldas and Shri Vinay Narendra Vithaldas	1500
Shri Vinay Narendra and Smt. Divya Vinay	1814
Shri Aditya Vinay Vithaldas and Smt. Dhara Merchant	1500
Shri Subhash Vithaldas and Smt. Harshika Subhash	21000
Shri Mihir Subhash and Smt. Ravisha Mihir	22761
Smt. Harshika Subhash and Shri Subhash Vithaldas	924
Smt. Ravisha Mihir and Shri Mihir Subhash	1688
Smt. Meenal Rajesh Kapadia & Shri Rajesh Gordhandas Kapadia	750
Total	300000

LIST OF ALLOTTEE

As on: 01.01.2015

Names of Shareholders	No. of Shares
Mr. Manish Vijay Sampat	2000
Shri Yashveersingh Lauly	1000
Smt. Uma Virendra Ashar and Shri Bankim Hamir	300000
Smt. Bhavika Manish Sampat	4000
Smt. Kusum Kapoor	5000
Smt. Sushila Virendra	50000
Smt. Panna Bankim	166000
	528000

As on 30.08.2014

Names of Shareholders	No. of Shares
M/s Vissanji Khimji & Company Private Limited	16225
M/s BMD Chemicals P. Ltd	10500
Shri Bankim Hamir and Smt. Panna Bankim	19950
Smt. Panna Bankim and Shri Bankim Hamir	6106
Shri Bankim Hamir, Smt. Panna Bankim, Gauranji Manon Porecha	1170
Shri Bankim Hamir	139377
Shri Bankim Hamir and Smt. Uma Virendra Ashar	8
Smt. Hina Chandrahas and Shri Hemen Chandrahas	18282
Shri Chandrakant Vijaysinh Merchant and Smt. Nirupama Chandrakant	144
Smt. Nirupama Chandrakant and Shri Chandrakant Vijaysinh	588
Shri Chandrakant Vijaysinh Merchant and Shri Pankaj VijaySingh Merchant	1024
Smt. Tara Ranjit and Shri Haren Vithaldas	3811
Smt. Punam Vithaldas and Shri Haren Vithaldas	288
Shri Haren Vithaldas and Smt. Punam Vithaldas	192
Shri Vasant Vithaldas, Shri Prashant Vasant Vithaldas and Smt. Namita Prashant Vithaldas	580
Shri Mahesh Vithaldas and Smt. Purnima Mahesh	3331
Smt. Purnima Mahesh and Shri Mahesh Vithaldas	2663
Shri Subhash Vithaldas and Smt. Harshika Subhash	10000
Smt. Harshika Subhash and Shri Subhash Vithaldas	336
Shri Vinay Narendra and Smt. Divya Vinay	4814
Smt. Lata Randhir and Smt. Meena Jasbir Bhandari	1606
Smt. Meena Jasbir Bhandari and Smt. Lata Randhir	693
Smt. Kumud Pratapsinh and Shri Mahesh Vithaldas	50
Shri Prashant Vasant Vithaldas and Smt. Namita Prashant Vithaldas	3283
Shri Pankaj Vijaysingh Merchant and Smt. Usha Pankaj	1587
Smt. Sushila Virendra and Smt. Panna Bankim	3156
Shri Haresh Vijaysinh and Smt. Sonal Haresh	1587
Smt. Vijya Vijaysinh, Shri Haresh Vijaysinh and Shri Pankaj Vijaysingh Merchant	156
Shri Ashok Chandrahas and Smt.Jhanvi Ashok	1800
Shri Hemen Chandrahas and Smt.Jyoti Hemen	5800
Shri Hemen Chandrahas and Smt.Jyoti Hemen	2000
Shri kunal S. Merchant	16686
Smt. Rekha Bharat and Shri Ratansey Karsondas	11
Smt. Rekha Bharat, Shri Bharat Ratansey and Shri Brijesh Bharat	430
Shri Bharat Ratansey, Shri Brijesh Bharat and Smt. Rekha Bharat	370
Shri Brijesh Bharat, Smt Rekha Bharat and Shri Bharat Ratansey	431
Smt. Rekha Bharat and Shri Bharat Ratansey	2
Shri Bharat Ratansey and Smt. Rekha Bharat	9501
Shri Bharat Ratansey and Smt. Rekha Bharat	855
Shri Bharat Ratansey and Smt. Rekha Bharat	884
Shri Mihir Subhash and Smt. Ravisha Mihir	7235
Smt. Ravisha Mihir and Shri Mihir Subhash	1688
Shri Yashveersingh Lauly	50
Smt. Meenal Rajesh Kapadia & Shri Rajesh Gordhandas Kapadia	750
Total	300000

Equity Share Break up (Percentage of Total Equity)

As on 30.08.2014

Category	Percentage
Bodies corporate	8.91
Directors or relatives of Directors	71.83
Other top fifty shareholders	19.26
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of wood based densified impregnated laminates for Industrial and Engineering Applications. (Confirmed by management)
Products :	-----
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Swifter Fibre glass industrial Fans
Countries :	USA
Imports :
Products :	Raw Material
Countries :	Germany France
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 OEMs

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 :

300 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Udayachal Branch, Bhopal, Madhya Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-22185272 (Number not Responding)
Name of Account Holder	01600/010001/02
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. 95.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Union Bank of India, 84, Zone-II, M. P. Nagar, Bhopal - 462011, Madhya Pradesh, India

• Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India
• Bank of India, Sachivalaya Branch, M.P. Nagar Zone-I, Bhopal - 462011, Madhya Pradesh, India
• Axis Bank Limited, SRAC - Star Arcade First, Plot No 165A & 166, ZoneI, M. P. Nagar, Bhopal - 462011, Madhya Pradesh, India
• The Bank of India, Arera Colony, Bhopal, Madhya Pradesh, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Debentures	23.507	37.081
Term Loan from Bank	260.196	177.533
Short-term borrowings
Cash Credit from Bank	110.686	118.308
Total	394.389	332.922

Banking Relations :	Madhya Pradesh Financial Corporation, Finance House, Bombay-Agra Road, Indore - 452001, Madhya Pradesh, India Permali Wallace Private Limited, 43 Nariman Bhavan 4th Floor, 227, Nariman Point , Mumbai - 400021, Maharashtra, India
Auditors :
Name :	Vidya and Company Chartered Accountants
Address :	Room No. 316, 3rd Floor, Centre Point, 21 Hemant Basu Sarani, Kolkata - 700001, West Bengal, India
Tel. No.:	91-755-22133232/33
Fax No.:	91-755-22133231
E-Mail :	info@vidyaca.com
PAN No.:	AABFV8857D
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates :	Western India Chemicals (Prop. BMD Chemicals Private Limited)

CAPITAL STRUCTURE

After As on 31.08.2015

Authorised Capital: Rs. 150.000 Million

Issued, Subscribed & Paid-up Capital: Rs. 110.000 Million

As on 30.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
400,000	Equity Shares	Rs. 100/- Each	Rs. 40.000 Million
100,000	Preference Shares	Rs. 100/- Each	Rs. 10.000 Million
	Total		Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- Each	Rs. 30.000 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	30.000	30.000	30.000
(b) Reserves & Surplus	99.079	125.929	147.780
(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)	129.079	155.929	177.780
(3) Non-Current Liabilities
(a) long-term borrowings	357.568	306.929	168.534
(b) Deferred tax liabilities (Net)	0.000	19.061	15.622
(c) Other long term liabilities	15.816	89.166	41.989
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	373.384	415.156	226.145
(4) Current Liabilities
(a) Short term borrowings	156.653	128.469	117.370
(b) Trade payables	95.558	76.489	35.780
(c) Other current liabilities	120.713	83.118	85.132
(d) Short-term provisions	14.934	36.328	43.142
Total Current Liabilities (4)	387.858	324.404	281.424
TOTAL	890.321	895.489	685.349
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	498.848	430.824	272.188
(ii) Intangible Assets	2.762	0.000	0.000
(iii) Capital work-in-progress	24.109	52.599	25.971
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.095	0.095	0.095
(c) Deferred tax assets (net)	7.084	0.000	0.000
(d) Long-term Loan and Advances	10.955	14.033	25.705
(e) Other Non-current assets	3.696	6.117	12.904
Total Non-Current Assets	547.549	503.668	336.863
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	152.457	179.372	173.572
(c) Trade receivables	146.680	142.728	104.365
(d) Cash and cash equivalents	9.886	20.418	23.503
(e) Short-term loans and advances	33.163	48.718	46.778
(f) Other current assets	0.586	0.585	0.268
Total Current Assets	342.772	391.821	348.486
TOTAL	890.321	895.489	685.349

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL REVENUE FROM OPERATIONS	554.213	535.467	562.902
Less	EXPENSES	NA	NA	NA
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	56.189	58.619	118.907
Less	FINANCIAL EXPENSES	67.055	44.825	37.522
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(10.866)	13.794	81.385
Less/ Add	DEPRECIATION/ AMORTISATION	42.129	30.475	22.098
	PROFIT/ (LOSS) BEFORE TAX	(52.995)	(16.681)	59.287
Less	TAX	(26.145)	3.439	18.362
	PROFIT/ (LOSS) AFTER TAX	(26.850)	(20.120)	40.925
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	25.009	46.861	40.909
Less	APPROPRIATIONS
	Transfer to Redemption Debenture Reserve	0.000	0.00	3.000
	Transfer to General Reserve	0.000	0.00	25.000
	Dividend	0.000	1.500	6.000
	Tax on Dividend	0.000	0.232	0.973
	Balance Carried to the B/S	(1.841)	25.009	46.861
	EARNINGS IN FOREIGN CURRENCY	129.602	110.608	123.706
	Earnings / (Loss) Per Share (Rs.)	(89.50)	(67.07)	136.42

Particulars	31.03.2015
Sales Turnover	580.000

The above information has been parted by Mr. Mihir Merchant (Chief Executive Officer)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	81.658	44.652	50.366
Cash generated from operations	53.487	109.791	13.991
Net Cash flows from operating activities	53.487	109.791	29.573

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(4.84)	(3.75)	7.27
Operating Profit Margin (PBIDT/Sales)	(%)	10.14	10.95	21.12
Return on Total Assets (PBT/Total Assets}	(%)	(6.17)	(1.98)	8.99
Return on Investment (ROI) (PBT/Networth)		(0.41)	(0.11)	0.33
Debt Equity Ratio (Total Debt /Networth)		4.62	3.08	1.89
Current Ratio (Current Asset/Current Liability)		0.88	1.21	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	30.000	30.000	30.000
Reserves & Surplus	147.780	125.929	99.079
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	177.780	155.929	129.079
long-term borrowings	168.534	306.929	357.568
Short term borrowings	117.370	128.469	156.653
Current maturities of long-term debts	50.366	44.652	81.658
Total borrowings	336.270	480.050	595.879
Debt/Equity ratio	1.891	3.079	4.616

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 Revenue	562.902	535.467	554.213
		(4.874)	3.501

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 Revenue	562.902	535.467	554.213
Profit (Loss)	40.925	(20.120)	(26.850)
	7.27%	(3.76%)	(4.84%)

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
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	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three 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	Yes
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

Financial performance:

During the current financial year, the company has registered a net revenue from operations of Rs. 554.213 Million as against net revenue from operations of Rs. 535.467 million in the year 2012-13 and loss of Rs. 26.850 million as against loss of Rs. 20.120 Million in the year 2012-13. Earning before finance cost, depreciation and tax is Rs. 56.189 million in current financial year as against Rs. 58.619 million in the year 2012-13.

OUTLOOK:

During the company’s plan to relocate its present unit from Bhopal to mandideep, the company has shifted its machine shop and starts the production at village mandidehari, mandideep in completion of first phase of shifting. As per previous plan of the company, all divisions were to be shifted by April-2015, but due to negative market scenario, company could not invest the fund for relocation. Now, the company plans to relocate its press shop in second and third phase by April 2015 and April 2016 respectively.

Company is also planning to increase the domestic as well as export sales in the next year.

UNSECURED LOAN

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans from related parties	73.865	92.315
Short-term borrowings
Loans and advances	45.967	10.162
Total	119.832	102.477

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10570638	09/12/2014	150,000,000.00	Kamlesh G. Pandya	43 Nariman Bhavan, 4th Floor, 227 Nariman Point,  Mumbai - 400021, Maharashtra, India	C39008172
2	10420207	26/03/2013	76,000,000.00	Madhya Pradesh Financial Corporation	Finance House, Bombay-Agra Road, Indore - 452001, Madhya Pradesh, India	B73325201
3	10244211	09/12/2014 *	30,894,800.00	Shri Kamlesh G. Pandya	43 Nariman Bhavan, 4th Floor, 227 Nariman Point,  Mumbai - 400021, Maharashtra, India	C37620358
4	10241027	10/09/2010	252,500,000.00	Union Bank of India Consortium	84, Zone-Ii, M. P. Nagar, Bhopal - 462011, Madhya Pradesh, India	A95196382
5	10219613	07/12/2013 *	366,300,000.00	Union Bank of India Consortium	84, Zone-Ii, M. P. Nagar, Bhopal - 462011, Madhya Pradesh, India	B95103354
6	90210595	09/12/2014 *	1,499,000.00	Shri Kamlesh G. Pandya	43 Nariman Bhavan, 4th Floor, 227 Nariman Point,  Mumbai 400021, Maharashtra, India	C37621315

Fixed Assets

Tangible Assets

· Freehold Land

· Building

· Plant and Machinery

· Lab Equipments

· Office Equipments

· Furniture and Fixtures

· Vehicles

Intangible Assets

· Computer Software

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.66.75
UK Pound	1	Rs.99.61
Euro	1	Rs.70.67

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.