MIRA INFORM REPORT

Report No. :	307097.2
Report Date :	11.02.2015

IDENTIFICATION DETAILS

Name :	SAN PRINTECH PRIVATE LIMITED
Registered Office :	119, Ravi Kiran Estate, Link Road, Near Monginis Factory, Andheri (West), Mumbai – 400053, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.03.2010
Com. Reg. No.:	11-201472
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U22219MH2010PTC201472
TAN No.: [Tax Deduction & Collection Account No.]	MUMS68360F
PAN No.: [Permanent Account No.]	AAOCS0750J
Legal Form :	Private Limited Liability Company
Line of Business :	Traders and Importers in Printing and Chemicals Items.
No. of Employees :	Information declined by the management

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
Litigation :	Clear
Comments :	Subject is a successor of San Printech, a proprietary concern started in the year 1998. It is a small business having moderate track. Management has reported huge external borrowings during FY14. However, trade relations seem to be fair. Business is active. Payment terms are reported as slow. In view of modest scale of operations, the company can be considered for business dealings with caution.

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

EXTERNAL AGENCY RATING

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Ashok Newaskar
Designation :	Director
Contact No.:	91-9821140327
Date :	07.02.2015

LOCATIONS

Registered Office :	119, Ravi Kiran Estate, Link Road, Near Monginis Factory, Andheri (West), Mumbai-400053, Maharashtra, India
Tel. No.:	91-22-40542400
Mobile No.:	91-9821140327 (Mr. Ashok Newaskar)
Fax No.:	91-22-26736617
E-Mail :	ashok@sanprintech.com sales@sanprintech.com
Website :	http://www.sanprintech.com
Area :	1400 sq. ft. (Owned)
Warehouse:	III, K T Industrial Estate, B 1, 2 Off Galani Naka, Waliv Vasai (East), Maharashtra, India
Area :	3000 sq. ft. (Owned)

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Ashok Dullabhdas Newaskar
Designation :	Director
Address :	401, Raj Vastu, Model Town Society, Gulmohar Cross Road No. 7, JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India
Date of Birth/Age :	30.06.1955
Date of Appointment :	30.03.2010
DIN No.:	00694774
Name :	Mrs. Sandhya Ashok Newaskar
Designation :	Director
Address :	401, Raj Vastu, Model Town Society, Gulmohar Cross Road No. 7, JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India
Date of Birth/Age :	22.08.1964
Date of Appointment :	30.03.2010
DIN No.:	00695040

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Ashok Dullabhdas Newaskar	5000	50.00
Sandhya Ashok Newaskar	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Traders and Importers in Printing and Chemicals Items.
Products :	Printing Chemicals Items
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	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 :

Company Name :	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 :

Corporation Bank, A-02-03,Dev Prestige,Veeradesai Road, Andheri-West, Mumbai - 400058, Maharashtra, India

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Sanjay B. Vora and Company Chartered Accountants
Address :	Office No. 10, Lower Ground Floor, Nirmal Galaxy, Lbs Road, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-67426675
Mobile No.:	91-93237 80138
Email :	sanjayvoraim@yahoo.com
PAN No.:	AABPV6216E
Membership :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

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	0.100	0.100	0.100
(b) Reserves & Surplus	3.230	2.223	1.240
(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)	3.330	2.323	1.340
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	21.427	22.026	16.092
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	18.519	14.130	11.327
(d) Short-term provisions	0.846	0.666	0.315
Total Current Liabilities (4)	40.792	36.822	27.734
TOTAL	44.122	39.145	29.074
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.474	0.476	0.167
(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)	0.008	0.000	0.000
(d) Long-term Loan and Advances	0.025	0.025	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.507	0.501	0.167
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	24.610	21.426	14.573
(c) Trade receivables	15.219	13.802	11.090
(d) Cash and cash equivalents	0.131	0.366	0.371
(e) Short-term loans and advances	3.646	3.030	2.843
(f) Other current assets	0.009	0.020	0.030
Total Current Assets	43.615	38.644	28.907
TOTAL	44.122	39.145	29.074

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	50.293	50.942	40.443
		Other Income	3.525	3.888	2.440
		TOTAL	53.818	54.830	42.883
Less	EXPENSES
		Cost of Traded Goods	42.844	44.689	35.530
		Operating & Administrative Expenses	9.347	8.719	6.291
		TOTAL	52.191	53.408	41.821
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.627	1.422	1.062
Less	DEPRECIATION/ AMORTISATION		0.133	0.088	0.043
	PROFIT/(LOSS) BEFORE TAX		1.494	1.334	1.019
Less	TAX		0.487	0.351	0.315
	PROFIT/(LOSS) AFTER TAX (G-H)		1.007	0.983	0.704
	Earnings Per Share (Rs.)		100.72	98.31	70.40

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.00	1.93	1.74
Return on Total Assets (PBT/Total Assets}	(%)	3.39	3.41	3.50
Return on Investment (ROI) (PBT/Networth)		0.45	0.57	0.76
Debt Equity Ratio (Total Debt /Networth)		6.43	9.48	12.01
Current Ratio (Current Asset/Current Liability)		1.07	1.05	1.04

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	0.100	0.100	0.100
Reserves & Surplus	1.240	2.223	3.230
Net worth	1.340	2.323	3.330
long-term borrowings	0.000	0.000	0.000
Short term borrowings	16.092	22.026	21.427
Total borrowings	16.092	22.026	21.427
Debt/Equity ratio	12.009	9.482	6.435

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	40.443	50.942	50.293
		25.960	(1.274)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	40.443	50.942	50.293
Profit	0.704	0.983	1.007
	1.74%	1.93%	2.00%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE.

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
Short Term Borrowings
Loans and advances from related parties
Ashok D. Newaskar ( Director )	18.183	18.313
Sandya Ashok Newaskar (Director)	0.544	0.120
San Fibres And Chemicals Private Limited	2.700	3.593
Total	21.427	22.026

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10354479	25/09/2014 *	6,000,000.00	Corporation Bank	A-02-03,Dev Prestige, Veeradesai Road, Andheri West, Mumbai, Maharashtra - 400058, India	C34972596

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Air Conditioner

· Fire Equipments

· Printer

· Mobile

· Computer

· Computer Software

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.14
UK Pound	1	Rs.94.79
Euro	1	Rs.70.38

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUB
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--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	NO
--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.