MIRA INFORM REPORT

Report No. :	353280
Report Date :	08.12.2015

IDENTIFICATION DETAILS

Name :	PURECOTZ ECO LIFESTYLES PRIVATE LIMITED
Registered Office :	Nav- Vivek Industrial Premises Co-Operative Society Limited, 307, 3rd Floor, Plot No. B/424 of TPS III, Mogul Lane, Mahim (West), Mumbai- 400016, Maharashtra
Tel. No.:	91-22-24468597
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.09.2009
Com. Reg. No.:	11-195604
Capital Investment / Paid-up Capital :	Rs. 5.025 Million
CIN No.: [Company Identification No.]	U17121MH2009PTC195604
IEC No.:	0300035845
TAN No.: [Tax Deduction & Collection Account No.]	MUMP27356A
PAN No.: [Permanent Account No.]	AAFCP1986L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Readymade Garments. (Confirmed by management)
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 104000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was established in the year 2009 having satisfactory track record. For the financial year ended 2014, company has reported 8.72% sales turnover growth as compared to previous sales turnover and it has maintained satisfactory profitability margins at 7.11% during the year under a review. Rating takes into consideration company’s established track record of business operations marked by its satisfactory financial profile along with sound net worth base and fair debt coverage indicators. Trade relations are reported as fair. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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	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 31-03-2015.

INFORMATION PARTED BY (Partial Details)

Name :	Mr. Chetan Shah
Designation :	Accounts Manager
Contact No.:	91-9022647351
Date :	02.12.2015

LOCATIONS

Registered Office :	Nav- Vivek Industrial Premises Co-Operative Society Limited, 307, 3rd Floor, Plot No. B/424 of TPS III, Mogul Lane, Mahim (West), Mumbai- 400016, Maharashtra, India
Tel. No.:	91-22-24468597
Mobile No.:	91-9022647351 (Mr. Chetan)
Fax No.:	91-22-67521099
E-Mail :	postmaster@purecotz.com amit@purcoz.com
Website :	www.purecotz.com
Factory :	Plot No. 28, 30, 31, Gidc Expansion Area, 52 Hectors, Umbergaon, District Valsad-396171, State Gujarat, India
Tel. No.:	91-260-2561844/55

DIRECTORS

As on 26.09.2014

Name :

Mrs. Monisha Amit Narke

Designation :

Director

Address :

5, Citizen Co-Opeartive Housing Society, 206, Caddell Road, Mahim (West), Mumbai-400016, Maharashtra, India

Date of Birth/Age :

19.08.1974

Date of Appointment :

08.09.2009

DIN No.:

01502579

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	U33112MH2005PTC156994	SCICENTRIC DEVICES PRIVATE LIMITED	Director	24/10/2005	24/10/2005	-	Active	NO
2	U24230MH2007PTC171877	KLENZAIDS PHARMACEUTICS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	-	Active	YES
3	U74900MH2008PTC187454	RUR GREENLIFE PRIVATE LIMITED	Director	13/10/2008	13/10/2008	-	Active	NO
4	U17121MH2009PTC195604	PURECOTZ ECO LIFESTYLES PRIVATE LIMITED	Director	08/09/2009	08/09/2009	-	Active	NO

Name :

Mr. Amit Vijay Narke

Designation :

Director

Address :

201, Second Floor, Fortune Heights, 298/299, L. J. Road, Mahim, Mumbai-400016, Maharashtra, India

Date of Birth/Age :

24.11.1974

Date of Appointment :

08.09.2009

DIN No.:

02178025

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	U74900MH2008PTC187454	RUR GREENLIFE PRIVATE LIMITED	Director	13/10/2008	13/10/2008	-	Active	NO
2	U17121MH2009PTC195604	PURECOTZ ECO LIFESTYLES PRIVATE LIMITED	Director	08/09/2009	08/09/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Chetan Shah
Designation :	Account Manager
Name :	Mr. Rajesh Kapadia
Designation :	Fabric Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Shares
Monisha Amit Narke	250000
Amit Vijay Narke	250000
Diwakar Parshuram Sohoni	500
Hemalata Diwakar Sohoni	500
Vijay Ramchndra Narke	500
Jyoti Vijay Narke	500
Ramesh Govind Bhagwat	500
Total	502500

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Readymade Garments. (Confirmed by management)
Products :	Readymade Garments
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Countries :	France Germany United States of America Switzerland
Imports :
Product :	Raw Material
Countries :	Hong Kong China
Terms :	Not Divulged

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 :

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	Mahim Branch,Vijan Apartment, Opposite Paradise Cinema, L. J. Road, Mahim, Mumbai - 400016, 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
From Bank	0.000	2.319
Short-term borrowings
Bank Over draft	13.410	10.156
Total	13.410	12.475

Auditors :
Name :	Shirish D Sohoni and Company Chartered Accountants
Address :	E/82, Mayflower, 490, Gabriel Street, Mahim (West), Mumbai-400016, Maharashtra, India
Tel. No.:	91-22-24452348
E-Mail :	sds_186@yahoo.com
Website :	www.casds.in
PAN N Income-tax PAN of auditor or auditor's firm :	AAOPS4051P
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
502,500	Equity Shares	Rs.10/- each	Rs. 5.025 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	5.025	5.025	5.025
(b) Reserves & Surplus	31.460	20.171	18.066
(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)	36.485	25.196	23.091
(3) Non-Current Liabilities
(a) long-term borrowings	22.000	41.380	43.575
(b) Deferred tax liabilities (Net)	4.529	4.298	4.417
(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)	26.529	45.678	47.992
(4) Current Liabilities
(a) Short term borrowings	13.410	10.156	22.284
(b) Trade payables	11.060	11.942	7.384
(c) Other current liabilities	9.443	7.175	6.661
(d) Short-term provisions	3.758	4.274	2.833
Total Current Liabilities (4)	37.671	33.547	39.162
TOTAL	100.685	104.421	110.245
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	60.785	57.421	59.440
(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	0.000
Total Non-Current Assets	60.785	57.421	59.440
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.979	25.813	29.313
(c) Trade receivables	4.605	11.427	5.886
(d) Cash and cash equivalents	6.481	4.600	6.431
(e) Short-term loans and advances	1.479	0.664	0.386
(f) Other current assets	3.356	4.496	8.789
Total Current Assets	39.900	47.000	50.805
TOTAL	100.685	104.421	110.245

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	158.712	145.978	135.216
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	(3.963)
Less	TAX		NA	NA	0.176
	PROFIT/ (LOSS) AFTER TAX		11.290	2.104	(4.139)
	EARNINGS IN FOREIGN CURRENCY		138.061	105.173	115.306
	Earnings / (Loss) Per Share (Rs.)		22.46	4.18	(8.23)

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 flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	7.11	1.44	(3.06)
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	(3.59)
Return on Investment (ROI) (PBT/Networth)		NA	NA	(0.17)
Debt Equity Ratio (Total Debt /Networth)		0.97	2.05	2.85
Current Ratio (Current Asset/Current Liability)		1.06	1.40	1.30

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	5.025	5.025	5.025
Reserves & Surplus	18.066	20.171	31.460
Net worth	23.091	25.196	36.485
long-term borrowings	43.575	41.380	22.000
Short term borrowings	22.284	10.156	13.410
Total borrowings	65.859	51.536	35.410
Debt/Equity ratio	2.852	2.045	0.971

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)
Revenue from operations	135.216	145.978	158.712
		7.959	8.723

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	135.216	145.978	158.712
Profit/ (Loss)	(4.139)	2.104	11.290
	(3.06%)	1.44%	7.11%

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	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 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	No
32]	Litigations that the firm/promoter involved in	--
33]	Market information	--
34]	Payments terms	No
35]	Negative Reporting by Auditors in the Annual Report	No

PERFORMANCE FOR THE YEAR

The revenue from operations increased by about 8%, the net profit after tax has gone up by 80% over previous year. The Management has taken measures to control the risk of currency fluctuations and bad debts from customers. Taking into consideration the orders from the customers, the management has decided to increase production capacity by installation of automatic flat knit machines. Accordingly, the first lot of four machines has arrived. Another four machines are expected to be delivered in the next few days.

During the year, the company could add three new customers from Europe. The market conditions in Europe are showing trends of improvement and the products of the company are well received in the market. The plans of establishment of one more production facility at Tirupur in Tamilnadu is under active consideration.

The Companies Act has been substantially amended wef 1.4.2014 and has cast new compliance responsibilities. The directors have taken effective steps in that direction.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties
Loan from Directors	22.000	39.061
Total	22.000	39.061

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10240305	20/12/2011 *	47,000,000.00	STATE BANK OF INDIA	MAHIM BRANCH,VIJAN APARTMENT, OPP PARADISE CINEMA ,L.J.ROAD, MAHIM, MUMBAI, Maharashtra - 400016, INDIA	B32319634
2	10240303	20/12/2011 *	47,000,000.00	STATE BANK OF INDIA	MAHIM BRANCH,VIJAN APARTMENT, OPP PARADISE CINEMA ,L.J.ROAD, MAHIM, MUMBAI, Maharashtra - 400016, INDIA	B32322174

* Date of charge modification

FIXED ASSETS

• Land
• Factory Buildings
• Office Premises
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office equipment
• Computer
• Electrical Fitting
• Capital WIP

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.66.74
UK Pound	1	Rs.99.61
Euro	1	Rs.70.66

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	KAR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.