MIRA INFORM REPORT

Report No. :	353908
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	APCOTEX INDUSTRIES LIMITED
Registered Office :	Plot No.3/1, M I D C Industrial Area, Taloja, Raigad - 410208, Maharashtra
Tel. No.:	91-22-27403500
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	12.03.1986
Com. Reg. No.:	11-039199
Capital Investment / Paid-up Capital :	Rs. 52.235 Million
CIN No.: [Company Identification No.]	L99999MH1986PLC039199
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	PNEA11171G
PAN No.: [Permanent Account No.]	AAACA3427G
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Producers of Synthetic Lattices (VP Latex, Acrylic Latex, Nitrile) and Synthetic Rubber (HSR, SBR) (Registered Activities)
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Aa (72)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 2800000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was established in the year 1986 and it is engaged in manufacture and marketing of two main product segments viz. Synthetic rubber and synthetic latexes. Synthetic rubber finds application in footwear, automotive components, v-belts, conveyor belts and hoses, while the synthetic latexes are used in the industries like textiles, paper and paperboard coating and construction. For the financial year ended 2015, company has reported 19.63% sales turnover growth as compared to previous sales turnover and it has maintained satisfactory profitability margins at 6.98% during the year under a review. Rating take into account the strong promoter background with long standing experience of more than three decades in the industry, dominant market position of all in the Synthetic Rubber and Synthetic Rubber Latex segment in the domestic market, its reputed clientele and sizable market share in most of the industries to which it caters. The ratings also factor in the healthy financial profile of the company marked by low gearing, comfortable coverage indicators and adequate liquidity position. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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.

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	Cash Credit = AA-
Rating Explanation	High Degree of safety and very low credit risk
Date	January 2015

Rating Agency Name	ICRA
Rating	Letter Credit = A1+
Rating Explanation	Very Strong Degree of safety and carry lowest 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.

LOCATIONS

Registered Office/ Factory :	Plot No.3/1, M I D C Industrial Area, Taloja, Raigad - 410208, Maharashtra, India
Tel. No.:	91-22-27403500
Fax No.:	91-22-27412052
E-Mail :	redressal@apcotex.com avkumashi@apcotex.com
Website :	http://www.apcotex.com
Corporate Office :	NKM International House, 178 Backbay Reclamation, Babubhai M Chinnai Marg, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22838302 / 04
Fax No.:	91-22-22838291
E-Mail :	info@apcotex.com

DIRECTORS

As on 30.09.2015

Name :

Mr.Amit Champaklal Choksey

Designation :

Director

Address :

Geetanjali Co-Op Hsg.Soc.Ltd., 9,N Gamadia Road,Off Pedder Road, Mumbai- 400026, Maharashtra, India

Date of Birth/Age :

14.10.1954

Qualification :

Bachelor Of Commerce

Date of Appointment :

21.11.1997

DIN No.:

00001470

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	U65994MH1983PLC030231	SAMMELAN INVESTMENT AND TRADING LIMITED	Director	25-03-85	25-03-85	-	Active	NO
2	U99999MH1986PTC041343	JOSHIMATH TRADING & INVESTMENTS PRIVATE LIMITED	Director	27-07-87	27-07-87	-	Under liquidation	NO
3	U65990MH1979PTC021042	ABHIRAJ TRADING AND INVESTMENTS PRIVATE LIMITED	Director	27-07-87	27-07-87	-	Active	NO
4	U51900MH1982PTC026918	AQUAMARINE TRADING AND INVESTMENTS PVT LTD	Director	30-03-88	30-03-88	-	Active	NO
5	U51900MH1987PTC042459	LAXMANJHULA TRADING AND INVESTMENTS PVT LTD	Director	30-08-88	30-08-88	-	Dissolved	NO
6	U51900MH1986PTC041339	INLAND TRADING AND INVESTMENT PRIVATE LIMITED	Director	30-08-88	30-08-88	25-07-11	Active	NO
7	U67120MH1979PTC021878	BHUVANTRAY INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	30-08-88	30-08-88	-	Active	NO
8	U67120MH1986PLC040436	CONS HOLDING LTD	Director	28-07-89	28-07-89	-	Active	NO
9	U70102MH1991PTC059982	AMISHA BUILDCON PRIVATE LIMITED	Director	03-03-91	03-03-91	04-01-10	Active	NO
10	U65990MH1980PTC022197	GAURIPUTRA INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	30-03-91	30-03-91	06-03-08	Active	NO
11	L65990MH1981PLC024860	AEONIAN INVESTMENTS CO LTD	Director	17-06-92	17-06-92	-	Under liquidation	NO
12	U24114MH1972PLC015706	MAZDA COLOURS LIMITED	Managing director	01-04-13	01-04-93	-	Active	NO
13	U24100MH1943PTC019661	CHOKSEY CHEMICALS PRIVATE LIMITED	Director	28-09-94	28-09-94	-	Active	NO
14	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	21-11-97	21-11-97	-	Active	NO
15	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	21-04-05	21-04-05	27-12-12	Active	NO
16	U65990MH1986PTC041344	ARANAV TRADING AND INVESTMENTS PRIVATE LIMITED	Director	02-09-09	03-10-08	25-07-11	Active	NO

Name :

Mr. Manubhai Gokalbhai Patel

Designation :

Director

Address :

13, Sahyog, Sardar Patel Nagar, Behind Navrang-, Pura Telephone Exchange, Ellisbridge, Ahmedabad- 380006, Gujarat, India

Date of Appointment :

31.09.1992

DIN No.:

00001662

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	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	31-07-14	31-07-92	-	Active	NO
2	U65910GJ1992SGC018602	GUJARAT STATE FINANCIAL SERVICES LTD	Additional director	09-06-15	06-08-01	-	Active	NO
3	L65990MH1981PLC024860	AEONIAN INVESTMENTS CO LTD	Director	21-04-04	21-04-04	-	Under liquidation	NO
4	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	21-04-05	21-04-05	41270	Active	NO
5	U74140GJ2008PTC052604	M&CO. ADVISORS AND CONSULTANTS PRIVATE LIMITED	Director	08-01-08	08-01-08	-	Active	NO
6	L51100GJ1961PLC001039	BANCO PRODUCTS (INDIA) LIMITED	Director appointed in casual vacancy	07-11-09	07-11-09	26-03-14	Active	NO

Name :

Mr. Atul Champaklal Choksey

Designation :

Chairman

Address :

Geetanjali, 9 N Gamadia Road, Off Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Appointment :

23.01.1991

DIN No.:

00002102

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	U92411MH1933PLC002813	THE CRICKET CLUB OF INDIA LIMITED	Director	23-07-87	23-07-87	39443	Active	NO
2	U67120MH1982PLC028510	TRIVIKRAM INVESTMENTS AND TRADING COMPANY LIMITED	Director	30-09-87	30-09-87	-	Active	NO
3	U51900MH1981PLC023737	TITAN TRADING AND AGENCIES LIMITED	Director	30-09-87	30-09-87	-	Active	NO
4	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	23-01-91	23-01-91	-	Active	NO
5	U24114MH1972PLC015706	MAZDA COLOURS LIMITED	Director	30-11-92	30-11-92	-	Active	NO
6	U24100MH1943PTC019661	CHOKSEY CHEMICALS PRIVATE LIMITED	Director	25-03-94	25-03-94	-	Active	NO
7	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	09-09-14	11-11-97	-	Active	NO
8	U51900MH1997PLC109127	APCO ENTERPRISES LIMITED	Director	05-06-98	05-06-98	-	Active	NO
9	U65990MH1996PLC101004	SHYAMAL FIN-VEST (INDIA) LIMITED	Director	05-06-98	05-06-98	-	Active	NO
10	U72900MH1999PTC123170	APCOSOFT PRIVATE LIMITED	Director	20-12-99	20-12-99	-	Strike off	NO
11	U65993MH1999PLC123191	IDFC ASSET MANAGEMENT COMPANY LIMITED	Director	21-12-99	21-12-99	39590	Active	NO
12	L25100MH1958PLC011041	CEAT LIMITED	Director	26-09-14	28-01-00	-	Active	NO
13	L15140MH1988PLC049208	MARICO LIMITED	Director	01-04-14	18-07-02	-	Active	NO
14	U91990MH2010NPL211312	W P ORGANISATION (MUMBAI CHAPTER)	Director	23-12-10	23-12-10	40633	Active	NO
15	U65990MH1980PTC022146	DHUMRAKETU INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	09-08-11	27-06-11	-	Active	NO
16	U67120MH1979PTC021881	SALDHAR INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	08-08-11	27-06-11	-	Active	NO
17	U65990MH1979PTC021043	PROPYCON TRADING AND INVESTMENTS PRIVATE LIMITED	Director	18-08-11	27-06-11	-	Under liquidation	NO
18	U24233MH2012PLC229972	Marico Consumer Care Limited	Director	04-08-15	31-03-15	-	Active	NO

Name :

Mr. Abhiraj Atul Choksey

Designation :

Managing Director

Address :

Geetanjali, 9 N Gamadia Road, Off Pedder Road, Mumbai - 400026, Maharashtra, India

Date of Appointment :

26.11.2002

DIN No.:

00002120

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	U72900MH1999PTC123170	APCOSOFT PRIVATE LIMITED	Director	26-10-01	26-10-01	-	Strike off	NO
2	U51900MH1997PLC109127	APCO ENTERPRISES LIMITED	Director	26-11-02	26-11-02	-	Active	NO
3	U67120MH1982PLC028510	TRIVIKRAM INVESTMENTS AND TRADING COMPANY LIMITED	Director	26-11-02	26-11-02	-	Active	NO
4	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Managing director	01-05-13	26-11-02	-	Active	NO
5	U51900MH1981PLC023737	TITAN TRADING AND AGENCIES LIMITED	Director	29-01-03	29-01-03	-	Active	NO
6	U65990MH1980PTC022146	DHUMRAKETU INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	09-08-11	27-06-11	-	Active	NO
7	U51900MH1987PTC042459	LAXMANJHULA TRADING AND INVESTMENTS PVT LTD	Director	05-09-11	27-06-11	-	Dissolved	NO

Name :

Mr. Shailesh Shankarlal Vaidya

Designation :

Director

Address :

801, Sumer Heights,, K.M. Munshi Marg, Chowpatty, Mumbai - 400007, Maharashtra, India

Date of Appointment :

21.01.2012

DIN No.:

00002273

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	U24230MH1994PLC144146	PRABHUKRIPA OVERSEAS LIMITED	Director	28-11-02	28-11-02	-	Active	NO
2	L17116MH1978PLC020451	SIYARAM SILK MILLS LIMITED	Director	31-10-05	31-10-05	-	Active	NO
3	L74999MH1983PLC029408	Goldcrest Corporation Limited	Director	19-09-07	31-12-05	41122	Active	NO
4	L72900MH2000PLC124729	ORBIT CORPORATION LIMITED	Director	13-08-12	16-02-06	41345	Active	NO
5	U36900MH1988PLC049085	SUASHISH DIAMONDS LIMITED	Director	09-03-06	09-03-06	41116	Active	NO
6	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	10-05-06	10-05-06	19-07-12	Active	NO
7	U70102MH2006PLC165847	AVIGHNA INDIA LIMITED	Director	28-11-06	28-11-06	-	Active	NO
8	L15421UP1993PLC018642	DWARIKESH SUGAR INDUSTRIES LIMITED	Director	06-12-06	06-12-06	41130	Active	NO
9	L72200MH1995PLC085488	ALLIED DIGITAL SERVICES LIMITED	Director	02-01-07	02-01-07	26-07-12	Active	NO
10	U99999MH1895NPL000121	BOMBAY INCORPORATED LAW SOCIETY	Director	19-11-09	20-11-07	-	Active	NO
11	L27205MH2007PLC166717	C. MAHENDRA EXPORTS LIMITED	Director	09-01-08	09-01-08	41116	Active	NO
12	L52100GJ2008PLC055195	WELSPUN INVESTMENTS AND COMMERCIALS LIMITED	Director	28-09-10	16-12-09	41129	Active	NO
13	L45201GJ1994PLC023920	WELSPUN ENTERPRISES LIMITED	Director	30-11-10	30-05-10	41134	Active	NO
14	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	31-07-14	21-01-12	-	Active	NO
15	L34103PN1944PLC020842	PREMIER LIMITED	Director	12-09-14	14-06-13	-	Active	NO
16	L24200MH1960PLC011807	EXCEL INDUSTRIES LIMITED	Director	26-09-14	08-08-14	-	Active	NO
17	U74999MH2015NPL261044	IMC International ADR Centre	Director	17-01-15	17-01-15	-	Active	NO

Name :

Dr. Swaminathan Sivram

Designation :

Director

Address :

Apartment No. 10 , Gulmohar Glory-5, Gulmohar Park ITI Road Aundh, Pune- 411007, Maharashtra, India

Date of Appointment :

27.03.1996

DIN No.:

00009900

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	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	31-07-14	27-03-96	-	Active	NO
2	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	07-04-01	07-04-01	-	Active	NO
3	L29199GJ1962PLC001171	GMM PFAUDLER LIMITED	Director	26-06-03	26-06-03	-	Active	NO
4	U74899DL1987GOI002354	NATIONAL RESEARCH DEVELOPMENT CORPORATION	Director	08-02-05	08-02-05	39486	Active	NO
5	U73100PN2007NPL129455	ENTREPRENEURSHIP DEVELOPMENT CENTER	Director	10-01-07	10-01-07	-	Active	NO
6	U74900PN2011PTC139394	CSIR - Tech Private Limited	Director	02-05-11	02-05-11	-	Active	NO
7	L24110GJ1970PLC001735	DEEPAK NITRITE LIMITED	Director	08-08-14	09-05-13	-	Active	NO
8	L23200MH1989PLC054633	SUPREME PETROCHEM LIMITED	Director	23-09-15	23-09-14	-	Active	NO

Name :

Mr. Kamlesh Shivji Vikamsey

Designation :

Director

Address :

194, Kalpataru Habitat, Tower- A, Dr .S.S Rao Road ,Parel, Mumbai - 400012, Maharashtra, India

Date of Appointment :

25.01.2013

DIN No.:

00059620

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	L22200MH1984PLC034055	NAVNEET EDUCATION LIMITED	Director	01-06-13	30-05-92	-	Active	NO
2	U27100MH1997PTC109679	HLB OFFICES AND SERVICES PRIVATE LIMITED	Director	17-04-00	17-04-00	42123	Active	NO
3	U72900MH2002PTC134878	HLB TECHNOLOGIES (MUMBAI) PRIVATE LIMITED	Director	11-02-02	11-02-02	40026	Active	NO
4	L65191GA1994PLC001620	CENTURION BANK OF PUNJAB LIMITED	Director	28-03-02	28-03-02	-	Amalgamated	NO
5	U73200DL1999NPL097935	ICAI ACCOUNTING RESEARCH FOUNDATION	Director	29-03-04	29-03-04	39160	Active	NO
6	U65991MH2005PTC153638	RELIGARE INVESCO TRUSTEE COMPANY PRIVATE LIMITED	Director	19-10-06	19-07-06	04-12-08	Active	NO
7	L74210TG1994PLC017356	RAMKY INFRASTRUCTURE LIMITED	Director	25-02-14	16-03-07	41810	Active	NO
8	U67200MH1972GOI016133	GENERAL INSURANCE CORPORATION OF INDIA	Director	27-08-07	27-08-07	40417	Active	NO
9	U52520TG1990PTC011172	TRINETHRA SUPERRETAIL Private LIMITED	Director	29-09-08	22-04-08	-	Amalgamated	NO
10	U65990MH1988PLC048117	Aditya Birla Retail Limited	Director	29-09-08	22-04-08	-	Active	NO
11	U18101TG2002PTC073589	FABMALL (INDIA) PRIVATE LIMITED	Director	29-09-08	22-04-08	-	Amalgamated	NO
12	U64202TG1999PTC072731	H.A.S.TWO HOLDINGS PRIVATE LIMITED	Director	29-09-08	22-04-08	-	Amalgamated	NO
13	U15499TG2005PTC047082	TERRAFIRMA AGROPROCESSING (INDIA) PRIVATE LIMITED	Director	29-09-08	22-04-08	-	Amalgamated	NO
14	U45200MH2008PTC182035	VarAsh Properties Private Limited	Director	09-05-08	09-05-08	42123	Active	NO
15	U45200MH2008PTC182123	CheKam Properties Private Limited	Director	12-05-08	12-05-08	29-04-15	Active	NO
16	U66020MH2009PLC189325	Axis Mutual Fund Trustee Limited	Director	26-04-10	27-06-09	28-02-11	Active	NO
17	U70102MH2004PLC147510	NEPTUNE DEVELOPERS LIMITED	Director	26-09-09	26-09-09	19-06-14	Active	NO
18	L70200MH2002PLC136849	Man Infraconstruction Limited	Director	15-07-10	05-10-09	-	Active	NO
19	L27205MH2007PLC172598	TRIBHOVANDAS BHIMJI ZAVERI LIMITED	Director	30-09-10	26-08-10	-	Active	NO
20	U45202MH2009PTC189590	NEPTUNE VENTURES AND DEVELOPERS PRIVATE LIMITED.	Director	24-02-11	24-02-11	41809	Active	NO
21	U31900GJ2008PTC055471	ELECTROTHERM RENEWABLES Private Limited	Director	28-09-12	17-11-11	-	Active	NO
22	U40102MH2007PTC175289	PALACE SOLAR ENERGY PRIVATE LIMITED	Director	18-03-15	17-11-11	-	Active	NO
23	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	31-07-14	25-01-13	-	Active	NO
24	L65922MH1989PLC054583	GIC HOUSING FINANCE LIMITED	Director	11-09-14	17-09-13	-	Active	NO

Name :

Mr. Girish Champaklal Choksey

Designation :

Director

Address :

Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai - 400026, Maharashtra, India

Date of Appointment :

25.11.1992

DIN No.:

00246196

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	U24100MH1943PTC019661	CHOKSEY CHEMICALS PRIVATE LIMITED	Director	31-12-73	31-12-73	-	Active	NO
2	U01100MH1937PLC002657	HINDUSTAN MINERAL PRODUCTS COMPANY LIMITED	Managing director	01-01-13	01-07-74	-	Active	NO
3	U67120MH1979PTC021878	BHUVANTRAY INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	12-11-79	12-11-79	-	Active	NO
4	U51900MH1982PTC026918	AQUAMARINE TRADING AND INVESTMENTS PVT LTD	Director	14-04-82	14-04-82	-	Active	NO
5	U65994MH1983PLC030231	SAMMELAN INVESTMENT AND TRADING LIMITED	Director	25-03-85	25-03-85	-	Active	NO
6	U67120MH1985PTC037298	HMP MINERALS PRIVATE LIMITED	Director	29-08-85	29-08-85	-	Active	NO
7	U99999MH1986PTC041343	JOSHIMATH TRADING & INVESTMENTS PRIVATE LIMITED	Director	22-10-86	22-10-86	-	Under liquidation	NO
8	U51900MH1987PTC042478	HARIDWAR TRADING AND INVESTMENTS PVT LTD	Director	27-07-87	27-07-87	-	Active	NO
9	U51900MH1986PTC041339	INLAND TRADING AND INVESTMENT PRIVATE LIMITED	Director	27-07-87	27-07-87	06-03-08	Active	NO
10	U65990MH1980PTC022146	DHUMRAKETU INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	27-07-87	27-07-87	-	Active	NO
11	U67120MH1987PTC042475	FOREST HILLS TRADING AND INVESTMENTS PRIVATE LIMITED	Director	30-08-88	30-08-88	-	Active	NO
12	U65990MH1986PTC041344	ARANAV TRADING AND INVESTMENTS PRIVATE LIMITED	Director	30-08-88	30-08-88	39513	Active	NO
13	U67120MH1979PTC021881	SALDHAR INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	30-08-88	30-08-88	-	Active	NO
14	U65990MH1979PTC021043	PROPYCON TRADING AND INVESTMENTS PRIVATE LIMITED	Director	30-08-88	30-08-88	-	Under liquidation	NO
15	U67120MH1986PLC040436	CONS HOLDING LTD	Director	28-07-89	28-07-89	-	Active	NO
16	U70102MH1991PTC059982	AMISHA BUILDCON PRIVATE LIMITED	Director	30-03-91	30-03-91	03-09-11	Active	NO
17	U65990MH1980PTC022197	GAURIPUTRA INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	30-03-91	30-03-91	-	Active	NO
18	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	25-11-92	25-11-92	-	Active	NO
19	L51900MH1978PLC020725	DHOOT INDUSTRIAL FINANCE LIMITED	Director	30-10-01	30-10-01	-	Active	NO
20	U65990MH1979PTC021042	ABHIRAJ TRADING AND INVESTMENTS PRIVATE LIMITED	Director	09-03-07	09-03-07	-	Active	NO
21	U17117GJ1992PLC038686	COLORTEK (INDIA) LIMITED	Director	30-03-07	30-03-07	-	Active	NO
22	U92199MH2005PTC151707	CYBELE PARADISE PRIVATE LIMITED	Director	21-11-07	17-09-07	41362	Active	NO
23	U93090MH2007NPL171491	MUMBAI ANGEL VENTURE MENTORS	Director	22-01-10	22-01-10	-	Active	NO

Name :

Mrs. Priyamvada Ashesh Bhumkar (w.e.f. 31.10.2014)

Designation :

Director

Address :

Vasant Vihar Complex, Row House, 33/34,, Pokhran Road No.2, Majiwade, Thane - West, Mumbai - 400601, Maharashtra, India

Date of Birth/Age :

02.07.1962

Qualification :

Graduation In Chemicals, MBA From Mumbai University,

Date of Appointment :

31.10.2014

DIN No.:

00726138

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	U01991MH1988PTC048901	SAUJESH CHEMICALS PRIVATE LIMITED	Director	21-09-88	21-09-88	-	Active	NO
2	U51900MH1991PTC062843	SOUJANYA ENTERPRISES PVT LTD	Director	26-12-92	26-12-92	-	Active	NO
3	U24100MH2008PTC183907	SOUJANYA COLOR PRIVATE LIMITED	Managing director	01-09-14	24-06-08	-	Active	NO
4	L99999MH1986PLC039199	APCOTEX INDUSTRIES LIMITED	Director	31-07-15	31-10-14	-	Active	NO
5	L31102MH1964PLC013011	EMCO LIMITED	Director	25-09-15	01-04-15	-	Active	NO

Name :

Mr. Bipin V. Jhaveri (upto 10.10.2014)

Designation :

Director

KEY EXECUTIVES

Name :	Mr. Anand Venkatesh Kumashi
Designation :	Secretary
Address :	C-01, Guruchintan Apartment, Near Adarsh Vidya Mandir, Kulgaon, Badlapur- 421503, Maharashtra, India
Date of Appointment :	01.09.1998
PAN No.:	AAGPK5070J
Audit Committee :	Manubhai G. Patel – Chairman Girish C. Choksey – Member Bipin V. Jhaveri – Member Kamlesh S. Vikamsey – Member Priyamvada Bhumkar - Member
Nomination and Remuneration Committee:	Manubhai G. Patel - Chairman Dr. S. Sivaram- Member Atul C. Choksey- Member Bipin V. Jhaveri (upto 10.10.2014)- Member Kamlesh S. Vikamsey (w.e.f. 20.03.2015)- Member
Stakeholder Relationship Committee:	Manubhai G. Patel - Member Girish C. Choksey - Member Bipin V. Jhaveri (upto 10.10.2014) - Member
Corporate Social Responsibility Committee:	Atul C. Choksey - Member Shailesh S. Vaidya - Member Abhiraj A. Choksey - Member

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2015

Category of shareholders	Total No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1511642	14.58
Bodies Corporate	4461391	43.03
Sub Total	5973033	57.60
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	5973033	57.60
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1348	0.01
Financial Institutions / Banks	2974	0.03
Any Others (Specify)	446	0.00
Foreign Bank	446	0.00
Sub Total	4768	0.05
(2) Non-Institutions
Bodies Corporate	441971	4.26
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Millions	3344892	32.26
Individual shareholders holding nominal share capital in excess of Rs.0.100 Millions	431592	4.16
Any Others (Specify)	174545
Non Resident Indians (Repat)	104352	1.01
Non Resident Indians (Non Repat)	42618	0.41
Clearing Member	23827	0.23
Directors/Relatives of Director	274	0.00
Trusts	3474	0.00
Sub Total	4393000	42.37
Total Public shareholding (B)	4397768	42.40
Total (A)+(B)	10368992	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	10368992	0.00

BUSINESS DETAILS

Line of Business :	Producers of Synthetic Lattices (VP Latex, Acrylic Latex, Nitrile) and Synthetic Rubber (HSR, SBR) (Registered Activities)
Products :	Synthetic Latexes Textiles Carpet Construction Tyre (VP Latex) Paint Automotive Components (Nitrile Latex) Synthetic Rubber Footwear (High Styrene Rubber)
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Information declined by the management

Bankers :

Bank Name	State Bank of India
Branch	Not Divulged
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

• Standard Chartered Bank

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Term Loan from Bank	83.628	166.999
Short-term borrowings
Loan repayable on demand from banks:
Packing Credit Foreign Currency Loan	58.579	0.000
Cash Credit/Working Capital Demand Loa	85.346	229.417
Total	227.53	396.416

Notes:

Long-term Borrowings

1a. Borrowing are in the form of Term Loan (ECB) carrying an Interest rate of LIBOR + 2.5% to LIBOR + 3.5% and secured by hypothecation of the Company’s entire Plant & Machinery by way of first charge;

1b. Repayment - During November 2013, Company has taken forward cover through ‘Call Option’ for repayment of remaining principal instalments of ECB

2.

Repayment schedule of Term Loan:
Financial Year	Amount
2015-16	83.343
2016-17	83.656

3.Default in terms of repayment of principal and interest – NIL;

4. Foreign currency loan due for Repayment during the next twelve months considered in Other Current Liabilities is Rs. 83.371 Million

Short-term borrowings

1. Loan from a bank secured by hypothecation of stock, book debts on parri passu basis and exclusive charge on land and building and second parri passu charge on plant & machinery. The CC / WCDL carry an interest rate in the range of 10.25% p.a. to 13.65% p.a. and Packing credit facility carry and interest rate in the range of 2.0 to 2.50% p.a.

2. Default in terms of repayment of principal and interest – NIL.

Auditors :
Name :	Kalyaniwalla and Mistry Chartered Accountants
Collaborators :	Not Available
Related Parties:	Abhiraj Trading and Investments Private Limited Aeonian Investments Company Limited Amisha Buildcon Private Limited Apco Enterprises Limited Aquamarine Trading and Investments Private Limited Aquamarine Investment Managers LLP Balasesh Leafin Limited Bhuvantray Investments and Trading Company Private Limited Choksey Structural Engineering Private Limited Choksey Chemical Private Limited Cons Holdings Limited Cybele Paradise Private Limited Dhumraketu Investments and Trading Company Private Limited. Forest Hills Trading and Investments Private Limited Annual Report 2014-15 75 Notes To Accounts For The Year Ended 31st March 2015 Gauriputra Investments and Trading Company Private Limited Haridwar Trading and Investments Private Limited HMP Mineral Private Limited Joshimath Trading and Investments Private Limited Laxmanjhula Trading and Investments Private Limited Mazda Colours Limited Propycon Trading and Investments Private Limited Saldhar Investments and Trading Company Private Limited Sammelan Investments and Trading Limited Shyamal Finvest (India) Limited Hindustan Mineral Products Company Limited Titan Trading and Agencies Limited Trivikram Investments and Trading Company Limited

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
29940000	Equity Shares	Rs.5/- each	Rs.149.700 Million
500	Preference Shares	Rs.100/- each	Rs. 0.050 Million
50000	Unclassified Shares	Rs.5/- each	Rs. 0.250 Million
	Total		Rs. 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10368992	Equity Shares	Rs.5/- each	Rs.51.845 Million
78051	Forfeited Share	Rs.5/- each	Rs.0.390 Million
	Total		Rs.52.235 Million

Reconciliation of the number of shares outstanding at the beginning and at the end of the year

Equity Shares	As at 31st March 2015
	No. of Shares	Rs. In Million
At the beginning of the year	10368992	52.235
Add : Increase in the no. of shares on subdivision of each share of ` 10 each into 2 equity share of ` 5 each during the year	--	--
Outstanding at the end of the year	10368992	52.235

Details of Shareholders holding more than 5% equity shares in the company

Equity Shares of Rs. 10/- Each	As at 31st March 2015
	No. of Equity Shares	% Holding
Trivikram Investment and Trading Company Limited	1973336	19.03
Dhumraketu Investment and Trading Company Private Limited	1,658,952	16.00
Atul Champaklal Choksey	667,700	6.44
Saldhar Investment and Trading Company Private Limited	566,544	5.46

d) Rights, Preferences & Restrictions attached to Equity Shares:

The Company has one class of share having a par value of `5 per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

NOTES TO ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2015

e) Aggregate number of shares & class of shares bought back during the last 5 years:

Financial Year 2009-10	As at 31st March 2015	As at 31st March 2014
No of Equity Shares	342.856	342.856
Face Value per Share bought	10	10
Total Face Value (`in Million)	3.429	3.429
Premium per Share	7.889	7.889
Total Premium (`in Million)	27.049	27.049
Grand Total (`in Million)	30.478	30.478

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	52.235	52.235	52.235
(b) Reserves & Surplus	945.295	800.519	729.744
(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)	997.530	852.754	781.979
(3) Non-Current Liabilities
(a) long-term borrowings	83.628	166.999	217.56
(b) Deferred tax liabilities (Net)	55.850	63.775	65.797
(c) Other long term liabilities	13.260	10.210	10.223
(d) long-term provisions	17.795	16.413	10.854
Total Non-current Liabilities (3)	170.533	257.397	304.434
(4) Current Liabilities
(a) Short term borrowings	143.924	229.417	206.427
(b) Trade payables	202.620	250.125	193.679
(c) Other current liabilities	198.618	171.758	168.847
(d) Short-term provisions	93.382	72.322	62.473
Total Current Liabilities (4)	638.544	723.622	631.426
TOTAL	1806.607	1833.773	1717.839
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	629.874	676.854	649.428
(ii) Intangible Assets	2.652	1.062	0.463
(iii) Capital work-in-progress	18.760	11.275	13.662
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	307.615	244.495	225.155
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	62.982	69.054	56.387
(e) Other Non-current assets	2.735	7.573	8.479
Total Non-Current Assets	1024.618	1010.313	953.574
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	152.220	171.004	107.928
(c) Trade receivables	487.038	517.054	471.843
(d) Cash and cash equivalents	44.283	61.215	153.956
(e) Short-term loans and advances	54.700	37.196	26.647
(f) Other current assets	43.748	36.991	3.891
Total Current Assets	781.989	823.460	764.265
TOTAL	1806.607	1833.773	1717.839

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	3550.809	2970.328	2734.014
	Other Income	55.754	24.341	(0.171)
	TOTAL (A)	3606.563	2994.669	2733.843
Less	EXPENSES
	Cost of Materials Consumed	2488.094	2301.921	2044.175
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	13.945	(35.554)	18.638
	Employees benefits expense	141.026	115.882	107.811
	Other expenses	493.016	336.777	328.192
	TOTAL (B)	3136.081	2719.026	2498.816
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	470.482	275.643	235.027
Less	FINANCIAL EXPENSES (D)	32.426	41.449	23.481
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	438.056	234.194	211.546
Less/ Add	DEPRECIATION/ AMORTISATION (F)	89.771	67.681	31.130
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	348.285	166.513	180.416
Less	TAX (H)	101.479	35.080	52.363
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	246.806	131.433	128.053
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	313.636	256.010	195.353
Less	APPROPRIATIONS
	Transfer to General Reserve	80.000	13.150	12.805
	Dividend	72.583	51.846	46.660
	Tax on Dividend	14.777	8.811	7.930
	Balance Carried to the B/S	393.082	313.636	256.011
	EARNINGS IN FOREIGN CURRENCY	656.637	338.909	246.917
	IMPORTS
	Raw Materials	469.067	491.990	177.371
	Components and Stores parts	0.693	3.175	0.613
	Capital Goods	0.000	0.000	26.056
	TOTAL IMPORTS	469.760	495.165	204.040
	Earnings / (Loss) Per Share (Rs.)	23.8	12.68	12.35

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	83.371	83.343	54.390
Cash generated from operations	416.758	129.624	326.581
Net cash flow from operating activity	318.943	99.016	279.141

QUARTERLY RESULTS

Particulars	30.06.2015	30.09.2015
Audited / Unaudited	1^St Quarter	2^nd Quarter
Net Sales	668.68	678.42
Total Expenditure	573.49	583.19
PBIDT (Excl OI)	95.19	95.23
Other Income	6.30	12.53
Operating Profit	101.53	107.72
Interest	4.23	5.37
Exceptional Items	NA	NA
PBDT	103.49	96.16
Depreciation	20.50	24.71
Profit Before Tax	82.99	71.45
Tax	21.95	18.17
Provisions and contingencies	NA	NA
Profit After Tax	61.05	53.28
Extraordinary Items	NA	NA
Prior Period Expenses	NA	NA
Other Adjustments	NA	NA
Net Profit	61.05	53.28

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	6.95	4.42	4.68
Operating Profit Margin (PBIDT/Sales)	(%)	13.25	9.28	8.60
Return on Total Assets (PBT/Total Assets}	(%)	23.53	10.55	12.20
Return on Investment (ROI) (PBT/Networth)		0.35	0.20	0.23
Debt Equity Ratio (Total Debt /Networth)		0.31	0.56	0.61
Current Ratio (Current Asset/Current Liability)		1.22	1.14	1.21

STOCK PRICES

Face Value	Rs.5.00
Market Value	Rs. 242.80

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	52.235	52.235	52.235
Reserves & Surplus	729.744	800.519	945.295
Net worth	781.979	852.754	997.530
Long-term borrowings	217.560	166.999	83.628
Short term borrowings	206.427	229.417	143.924
Current Maturities Of Long-Term Debts	54.390	83.343	83.371
Total borrowings	478.377	479.759	310.923
Debt/Equity ratio	0.612	0.563	0.312

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2734.014	2970.328	3550.809
		8.643	19.543

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2734.014	2970.328	3550.809
Profit	128.053	131.433	246.806
	4.68%	4.42%	6.95%

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	No
17	Details of sister concerns	Yes
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

CORPORATE INFORMATION NOTE ON BUSINESS ACTIVITY:

Subject is one of the leading producers of Synthetic Lattices (VP Latex, Acrylic Latex, Nitrile Latex) and Synthetic Rubber (HSR, SBR) in India. The Company has one of the broadest ranges of products based on Styrene – Butadiene Chemistry available in the market today. Company’s product range is used, among other applications, for Tyre Cord Dipping, Paper/Paper Board Coating, Concrete Modification/Water Proofing, Paint Emulsions, Textile Finishing etc. The various grades of Synthetic Rubber find application in products such as Footwear, Automotive components, V-belts, Conveyor belts and hoses.

OPERATIONS DURING THE FINANCIAL YEAR 2014-15.

During the year, the Company achieved Gross Value Sales of Rs.3911.446 Million, registering a growth of 18.40%, compared to that of the preceding year. The company exported its products worth Rs.689.946 Million compared to exports of Rs. 347.088 Million during the previous year, a growth of 98.78%.

The Synthetic Rubber Latex business has registered volume sales growth of 27.32%, and Synthetic Rubber business has registered volume growth of about 23%, as compared to the volume sale during the previous financial year.

There was a continuous thrust from the management to develop a strong research and development and technical service team to develop new products for export markets, explore new applications and understand better the changing customer needs.

Profits before tax registered a growth of 109% to Rs. 348.285 Million as compared to Rs. 166.513 Million during the previous year due to better realizations, lower raw material costs, product/customer mix and exports with good margins. EBITDA increased by about 71% from Rs.275.643 Million in the previous year to Rs.470.483 Million in FY 2014-15.

The profit after tax stood at Rs. 246.806 Million as compared to Rs. 131.433 Million in the previous year.

The Balance Sheet of the Company is also quite healthy with Debt/Equity ratio of 0.21, reasonable Working Capital cycle and Cash/Liquid Investments valued at Rs.491.100 Million based on NAV as on March 31, 2015.

Your Directors consider Company’s performance as satisfactory

THE OUTLOOK

The Company expects FY 2015-16 to be more challenging since we already have a fairly high market share across all segments in India and overall growth of the economy has been slow. Introduction of new products and exports are short term future growth drivers for the Company. In the medium to long term the Company is exploring adding new capacities for current products, new adjacent businesses as well as opportunities for inorganic growth.

With company’s continuous endeavor to enhance efficiencies at all levels and functions, your Directors view the prospects for the financial year 2015-16 with cautious optimism.

Particulars	Quarter ended		Half Year Ended
	30.09.2015 (Audited)	30.06.2015	30.09.2015
		(Audited)	(Audited)
1) Income from operations
a)Gross Sales	758.985	741.444	1500.429
b) Net sales/income from operations (Net of excise duty)	675.295	666.744	1342.039
c) Other operating income	3.123	1.941	5.064
Total Income from operations (net)	678.418	668.685	1347.103
2) Expenses
a) Cost of material consumed	457.653	434.437	892.09
b) Purchases of stock-in-trade	0.000	0.000	0.000
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(0.576)	6.630	6.054
d) Employee benefits expense	37.586	37.616	75.202
e) Other Expenditure	88.538	94.806	183.344
Total expenses	583.201	573.489	1156.69
3) Profit from operations before other income, finance costs and exceptional items (1-2)	95.217	95.196	190.413
4) Other income	6.300	12.532	18.832
5) Profit from ordinary activities before finance costs and exceptional items (3+4)	101.517	82.664	171.581
6) Finance costs	5.365	4.230	9.595
7) Cash Profit (5-6)	96.152	78.434	161.986
8) Depreciation and amortisation expense	24.706	20.499	45.205
9) Profit / (Loss) from ordinary activities after finance costs but before exceptional items (7-8)	71.446	57.935	116.781
10) Exceptional items	0.000	0.000	0.000
11) Profit / (Loss) from ordinary activities before tax (9+/-10)	71.446	57.935	116.781
12) Tax expense	18.17	21.954	40.124
13) Net Profit from ordinary activities after tax (11+/-12)	53.276	35.981	76.657
14) Extraordinary items (net of tax expense)	0.000	0.000	0.000
15) Net Profit for the period (13+/-14)	53.276	35.981	76.657
16) Share of profit / (loss) of associates	0.000	0.000	0.000
17) Minority interest	0.000	0.000	0.000
18) Net Profit / (Loss) after taxes, minority interest and share of profit / (loss) of associates (15 + 16 + 17)	53.276	35.981	76.657
19) Paid up equity share capital(Face value Rs. 5/- each)	104.08	52.235	52.235
20) Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year	0.000	0.000	0.000
21.i. Earnings per share (before extraordinary items) (of Rs 5/- each) (not annualised):
Basic	6.85	5.55	12.4
Diluted	6.85	5.55	12.4
21.ii. Earnings per share (after extraordinary items) (of Rs 5- each) (not annualised):
Basic	2.57	2.94	5.51
Diluted	2.57	2.94	5.51
A PARTICULARS OF SHAREHOLDINGS
1. Public Shareholding
No. of shares	8791918	4395959	8791918
Percentage of shareholding	42.4	42.4	42.4
2. Promoter and Promoter group Shareholding
a. Pledged/Encumbered
-Number of Shares
Percentage of Shares(as a % of total shareholding of promoter group)
b Non-Encumbered
-Number of Shares	11946066	5972428	11946066
-Percentage of Shares(as a % of total shareholding of promoter group)	100	100	100
-Percentage of Shares(as a % of the total Share Capital of Company	57.60	57.6	57.6

Particulars
B. Investor Complaints
Pending at the beginning of the quarter	0
Received during the quarter	18
Disposed of during the quarter	18
Remaining unresolved at the end of the quarter	0

STATEMENT OF ASSETS AND LIABILITIES

SOURCES OF FUNDS	30.09.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.001
(b) Reserves & Surplus	0.010
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.011
(3) Non-Current Liabilities
(a) long-term borrowings	0.001
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.001
(4) Current Liabilities
(a) Short term borrowings	0.002
(b) Trade payables	0.002
(c) Other current liabilities	0.002
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.006
TOTAL	0.018
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.006
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.003
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.001
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.010
(2) Current assets
(a) Current investments
(b) Inventories	0.002
(c) Trade receivables	0.005
(d) Cash and cash equivalents	0.000
(e) Short-term loans and advances	0.001
(f) Other current assets	0.000
Total Current Assets	0.008
TOTAL	0.018

NOTE:

1. The Company is engaged in the business of Synthetic Emulsion Polymers.

2. The above financial results were reviewed by the Audit Committee & approved by the Board of Directors at their meeting held on 6^th November 2015.

3. The company has allotted 10368992 fully paid – up shares of face value of Rc.5/- each during the quarter ended 30^th September 2015, pursuant to bonus issue approved by the shareholders through postal ballot on 12^th September 2015. Bonus share of one equity share for every equity share held, has been allotted to the shareholders on record date. i.e. 24^th September 2015. The shares were allotted in the board meeting held on 25^th September 2015. The earnings per share have been adjusted for previous periods, in accordance with AS20 (Earnings per Share)

4. The above figures have been regrouped wherever necessary

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10474614	23-12-13	310,000,000.00	Standard Chartered Bank	Narain Manzil, 23, Barakhamba Road, Delhi, Delhi - 110001, INDIA	B95088167
2	10355785	24-04-12	150,000,000.00	STANDARD CHARTERED BANK	Crescenzo, Bandra Kurla complex, Mumbai, Maharashtra - 400051, INDIA	B39635743
3	90147088	04/04/2014 *	435,400,000.00	State Bank of India	State Bank of India, Horniman Circle, Fort, Mumbai, Maharashtra - 400001, INDIA	C02759868

FIXED ASSETS

Tangible Assets

• Leasehold Land
• Buildings
• Plant and Equipment
• Equipment’s
• Furniture and Office equipment’s
• Office Equipment’s
• Vehicles
• Electric and Pipe Fittings
• Wind Turbine Generator
• Scientific Research

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. 66.62
UK Pound	1	Rs.100.65
Euro	1	Rs.72.40

INFORMATION DETAILS

Analysis Done by :	KRN
Report Prepared by :	VLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		72

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.