MIRA INFORM REPORT

Report No. :	307033
Report Date :	11.02.2015

IDENTIFICATION DETAILS

Name :	TRIMAC PRODUCTS PRIVATE LIMITED
Registered Office :	77/2, Lenin Sarani Ground Floor, Kolkata – 700013, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.10.2001
Com. Reg. No.:	21-093851
Capital Investment / Paid-up Capital :	Rs. 13.112 Millions
CIN No.: [Company Identification No.]	U26921WB2001PTC093851
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in manufacturing of metals and chemicals and their products.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 60000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established private limited liability company having moderate track record. As per available information the company has failed to file its financial for the year 2013-14 with government department. As per available financials of 2012-13 the firm has reported low profitability. Trade relations seems to be fair. Business is active. Payment are reported to be unknown. 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.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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. Sandeep Rawat
Designation :	Accounts Manager
Contact No.:	91-11-41320102
Date :	06.02.2015

LOCATIONS

Registered Office :	77/2, Lenin Sarani Ground Floor, Kolkata – 700013, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	anjaligk@vsnl.com
Head Office :	D 40, DSIIDC Packing Complex, Delhi – 110 015, India
Tel. No.:	91-11-41320102/ 41320106/ 07/ 08
Fax No.:	91-11-41320109

DIRECTORS

AS ON 28.09.2013

Name :

Arun Kumar Agarwal

Designation :

Director

Address :

16 Arya Kumar Road, Rajendra Nagar, Patna – 800016, Bihar, India

Date of Birth/Age :

16.08.1956

Date of Appointment :

15.10.2001

DIN No.:

00306783

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	U26921WB2001PTC093851	TRIMAC PRODUCTS PRIVATE LIMITED	Director	15/10/2001	15/10/2001	-	Active	NO
2	U74899DL1992PLC051038	VEEKAY POLYCOATS LIMITED	Director	10/08/2005	10/08/2005	01/07/2012	Active	NO
3	U91200BR1947NPL000317	BIHAR INDUSTRIES ASSOCIATION	Director	21/12/2009	21/12/2009	-	Active	NO

Name :

Ravi Ranjan Agarwal

Designation :

Director

Address :

E 29, Ground Floor, Near Government School, Prashant Vihar, Delhi – 110085, India

Date of Birth/Age :

13.04.1980

Date of Appointment :

16.03.2009

DIN No.:

00452849

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	U74899DL1992PLC051038	VEEKAY POLYCOATS LIMITED	Director	09/03/2005	09/03/2005	01/07/2012	Active	NO
2	U24233DL2007PLC171169	SSF POLYMERS LIMITED	Director	06/12/2007	06/12/2007	-	Active	NO
3	U26921WB2001PTC093851	TRIMAC PRODUCTS PRIVATE LIMITED	Director	16/03/2009	16/03/2009	-	Active	NO

Name :

Pankaj Kumar Agarwal

Designation :

Director

Address :

116, Arya Kumar Road, Rajendra Nagar, Patna – 800006, Bihar, India

Date of Birth/Age :

06.01.1973

Date of Appointment :

16.03.2009

PAN No.:

01246906

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	U51109BR2002PTC010017	SRI BALAJEE OVERSEAS PRIVATE LIMITED	Director	05/12/2002	05/12/2002	-	Active	NO
2	U33110DL2009PTC186317	KALPIS HEALTH CARE INDIA PRIVATE LIMITED	Director	02/01/2009	02/01/2009	25/04/2012	Active	NO
3	U26921WB2001PTC093851	TRIMAC PRODUCTS PRIVATE LIMITED	Director	16/03/2009	16/03/2009	-	Active	NO
4	U52330BR2012PTC018218	JYOTI HOUSEHOLD PRODUCT PRIVATE LIMITED	Director	22/02/2012	22/02/2012	01/11/2013	Active	NO
5	U50102BR2007PTC013142	Singhal Ventures Private Limited	Director	30/05/2013	30/05/2013	-	Active	NO
6	U25199BR2011PTC017825	MODERNA JYOTI PRODUCTS PRIVATE LIMITED	Director	01/02/2014	01/02/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sandeep Rawat
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

Names of Shareholders	No. of Shares
Arun Agarwal (HUF)	2500
Ms. Asha Agarwal	2500
Bansidhar Subhadra Devi (HUF)	2500
Mr. Pankaj Kumar Agrawal	52500
Mr. Ashok Kumar Agarwal	105000
Mr. Bansidhar Agarwal	105000
Mr. Dilip Kumar Agarwal	10000
Ms. Mrinal Agarwal	12500
Pawan Kumar Nirmala Devi Praveen HUF	95000
Mr. Praveen Agarwal	162500
Ms. Punita Agarwal	12500
Mr. Purushottam Kumar Agarwal	9500
Mr. Rajendra Prasad Agarwal	17150
Rajendra Prasad Agarwal HUF	12500
Ms. Ranjana Agarwal	12000
Ms. Rashmi Agarwal	12500
Mr. Ravi Ranjan Agarwal	80000
Ms. Rita Agarwal	12500
Ms. Saroj Devi	27500
Pawan Kumar Pankaj Kumar HUF	20000
Kedar Nath Nirmala Devi Praveen Kumar HUF	25000
Singhal Ventures Pvt. Ltd.	100000
Mr. Sudhir Kumar Mandal	150000
Ms. Puja Agarwal	100000
Mr. Pawan Kumar Agarwal	80000
Ms. Madhu Agarwal	90000
Total	1311150

AS ON 28.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	7.62
Directors or relatives of Directors	78.84
Other top fifty shareholders	13.54
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in manufacturing of metals and chemicals and their products.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

Axis Bank Limited, 1st Floor, Lok Nayak Jai Prakash Bhawan, Dak Bunglow Road Crossing, Patna, Bihar - 800001, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Car loan	0.291	0.000
SHORT TERM BORROWINGS
Bank O/D	27.884	31.121
HDFC Bank Limited (Car Loan)	--	0.221
Current maturity of long term debt	0.193	0.000
Total	28.368	31.342

Auditors :
Name :	Harvinder Arora and Associates Chartered Accountants
Address :	E-63, 1^st Floor, Guru Nanak Pura, Jail Road, New Delhi – 110058, India
PAN No.:	ADPPA0892A
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1311150	Equity Shares	Rs. 10/- each	Rs. 13.112 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13.112	13.112	6.612
(b) Reserves & Surplus	3.243	1.706	0.922
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	6.000	1.000	0.000
Total Shareholders’ Funds (1) + (2)	22.355	15.818	7.534
(3) Non-Current Liabilities
(a) long-term borrowings	12.565	9.160	7.774
(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)	12.565	9.160	7.774
(4) Current Liabilities
(a) Short term borrowings	28.076	31.341	19.150
(b) Trade payables	17.439	25.295	14.348
(c) Other current liabilities	6.798	1.294	0.566
(d) Short-term provisions	0.705	0.370	0.310
Total Current Liabilities (4)	53.018	58.300	34.374
TOTAL	87.938	83.278	49.682
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.941	3.065	0.885
(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)	0.024	0.040	0.029
(d) Long-term Loan and Advances	0.460	0.060	0.060
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4.425	3.165	0.974
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	24.145	23.623	12.514
(c) Trade receivables	44.662	32.752	28.228
(d) Cash and cash equivalents	6.335	2.319	1.694
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	8.371	21.419	6.272
Total Current Assets	83.513	80.113	48.708
TOTAL	87.938	83.278	49.682

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	181.595	153.335	124.433
		Other Income	0.974	0.009	0.059
		TOTAL	182.569	153.344	124.492
Less	EXPENSES
		TOTAL	180.012	151.943	123.307
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2.557	1.401	1.185
Less/ Add	DEPRECIATION/ AMORTISATION		0.298	0.259	0.303
	PROFIT/ (LOSS) BEFORE TAX		2.259	1.142	0.882
Less	TAX		0.722	0.358	0.276
	PROFIT/ (LOSS) AFTER TAX		1.537	0.784	0.606
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	6.382	NA	NA
	TOTAL EARNINGS		6.382	NA	NA
	Earnings / (Loss) Per Share (Rs.)		1.17	0.60	0.46

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	0.85	0.51	0.48
Operating Profit Margin (PBDIT/Sales)	(%)	1.41	0.91	0.95
Return on Total Assets (PBT/Total Assets}	(%)	2.57	1.37	1.78
Return on Investment (ROI) (PBT/Networth)		0.10	0.07	0.12
Debt Equity Ratio (Total Debt/Networth)		1.82	2.56	3.57
Current Ratio (Current Asset/Current Liability)		1.58	1.37	1.42

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	6.612	13.112	13.112
Reserves & Surplus	0.922	1.706	3.243
Net worth	7.534	14.818	16.355
long-term borrowings	7.774	9.160	12.565
Short term borrowings	19.150	31.341	28.076
Total borrowings	26.924	40.501	40.641
Debt/Equity ratio	3.574	2.733	2.485

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	124.433	153.335	181.595
		23.227	18.430

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	124.433	153.335	181.595
Profit	0.606	0.784	1.537
	0.49%	0.51%	0.85%

LOCAL AGENCY FURTHER INFORMATION

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	No
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10389971	16/10/2012	5,000,000.00	Axis Bank Limited	1st Floor, Lok Nayak Jai Prakash Bhawan, Dakbunglow Road Crossing, Patna, Bihar - 800001, INDIA	B63312896
2	10244285	22/08/2013 *	40,000,000.00	AXIS BANK LIMITED	LOK NAYAK JAY PRAKASH BHAWAN, DAK BUNGLOW ROAD, PATNA, Bihar - 800001, INDIA	B85436012

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Unsecured loan from directors and shareholders	12.273	9.160
Total	12.273	9.160

FIXED ASSETS

• Land
• Car
• Computer
• Scooter
• Laptop
• Air Conditioner

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. 62.14
UK Pound	1	Rs. 94.77
Euro	1	Rs. 70.38

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUC
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.