MIRA INFORM REPORT

Report No. :	304303
Report Date :	16.02.2015

IDENTIFICATION DETAILS

Name :	PLENTY PLASTICS PRIVATE LIMITED
Registered Office :	B-212, Virvani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.11.2011
Com. Reg. No.:	11-224065
Capital Investment / Paid-up Capital :	Rs.5.800 Millions
CIN No.: [Company Identification No.]	U25209MH2011PTC224065
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMP30329F
PAN No.: [Permanent Account No.]	AAGCP2967C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of agro shade net, Green Shade net, and HDPE Warp. Knitted Fabsic ( Green House Supplies and Equipments and Shade net )
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 21000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile marked by low reserves and thin profitability margins of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

NOTES :

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

ECGC Country Risk Classification List – 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

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Anuj Deora
Designation :	Director
Contact No.:	91-9820029402 / 91-7878924399
Date :	02.02.2015

LOCATIONS

Registered Office :	B-212, Virvani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9820029402 / 91-7878924399
Fax No.:	Not Available
E-Mail :	anuj@plentyplastics.com
Website :	http://www.plentyplasticsprivatelimited.tradeindia.com
Location :	Owned
Locality :	Commercial
Location :	Owned
Factory :	Plot No. 4805/1, GIDC, Vapi Sarigam INA – 396155, Gujarat, India
Location :	Owned

DIRECTORS

As on: 30.09.2014

Name :

Mr. Deokinandan Deora V

Designation :

Managing Director

Address :

2/102, Anmol Society, A. K. Road, Andheri (East) Mumbai – 400059, Maharashtra, India

Date of Birth/Age :

15.02.1948

Qualification :

Graduate

Date of Appointment :

18.11.2011

DIN No.:

05107221

Name :

Mr. Anuj Deora D.

Designation :

Director

Address :

2/102, Anmol Society, A. K. Road, Andheri (East) Mumbai – 400059, Maharashtra, India

Date of Birth/Age :

27.06.1989

Qualification :

Post-Graduate

Date of Appointment :

18.11.2011

DIN No.:

05107227

Name :

Mr. Manju Deora D.

Designation :

Director

Address :

2/102, Anmol Society, A. K. Road, Andheri (East) Mumbai – 400059, Maharashtra, India

Date of Birth/Age :

07.11.1958

Qualification :

Graduate

Date of Appointment :

18.11.2011

DIN No.:

05110586

Name :

Mr. Ashok Pandya M.

Designation :

Director

Address :

2/102, Anmol Society, A. K. Road, Andheri (East) Mumbai – 400059, Maharashtra, India

Date of Birth/Age :

20.12.1973

Qualification :

Graduate

Date of Appointment :

18.11.2011

DIN No.:

02331074

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	U72200MH2008PTC187691	Riddhi Infosystem (India) Private Limited	Director	21/10/2008	21/10/2008	-	Active	NO
2	U25209MH2011PTC224065	Plenty Plastics Private Limited	Director	18/11/2011	18/11/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares	%age
Deokinandan Deora V.	457400	78.86
Manju Deora D.	37600	6.48
Anju Deora D.	84100	14.50
Ashok Pandya M.	900	0.16
Total	580000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of agro shade net, Green Shade net, and HDPE Warp. Knitted Fabsic ( Green House Supplies and Equipments and Shade net )
Products :	Agro Shade net Green Shade net HDPE Warp Knitted Fabsic
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Green House Supplies, Equipments and Shade net
Countries :	Worldwide
Imports :	Not Available
Terms :
Selling :	Cash, L/C, Chaque and Credit
Purchasing :	Cash, L/C, Chaque and Credit

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 :

End Users

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 :

10 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Goregaon (East) Branch, ASPM Bldg, Jayprakash Road, No.2,12 Jayprakash Nagar, Mumbai – 400063, 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 :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Loan and Advance from Stalo Bank of India (Term Loan)	16.298	10.807
Short Term Borrowing
Working Capital Loans from Bank	3.838	0.591
Total	20.136	11.399

Auditors :
Name :	P.C. Deora and Company Chartered Accountant
Address :	3, V. K. Building, 2^nd Floor, 173/175, Princess Street, Mumbai – 400002, Maharashtra, India
E-Mail :	pcdeora@gmail.com
PAN No.:	ADAPD7208G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on: 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
580000	Equity Shares	Rs.10/- each	Rs.5.800 Millions

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	5.800	4.800	0.100
(b) Reserves & Surplus	1.543	(0.645)	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	4.700
Total Shareholders’ Funds (1) + (2)	7.343	4.155	4.800
(3) Non-Current Liabilities
(a) long-term borrowings	16.523	12.932	0.025
(b) Deferred tax liabilities (Net)	0.000	0.087	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.016	0.000	0.000
Total Non-current Liabilities (3)	16.539	13.019	0.025
(4) Current Liabilities
(a) Short term borrowings	3.838	0.591	0.000
(b) Trade payables	1.198	0.757	0.000
(c) Other current liabilities	0.000	0.000	0.010
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	5.036	1.348	0.010
TOTAL	28.918	18.522	4.835
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.615	15.696	3.368
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.067
(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)	0.023	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.700
(e) Other Non-current assets	0.107	0.142	0.194
Total Non-Current Assets	21.745	15.838	4.329
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.855	1.827	0.000
(c) Trade receivables	2.176	0.468	0.000
(d) Cash and cash equivalents	0.184	0.085	0.506
(e) Short-term loans and advances	0.211	0.296	0.000
(f) Other current assets	0.747	0.008	0.000
Total Current Assets	7.173	2.684	0.506
TOTAL	28.918	18.522	4.835

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	20.470	3.254
		Other Income	0.110	0.009
		TOTAL	20.580	3.263
Less	EXPENSES
		Purchases of Stock-in-Trade	14.444	3.943
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.027)	(1.827)
		Employees benefits expense	0.989	0.186
		Other expenses	3.213	0.598
		TOTAL	16.619	2.900
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		3.961	0.363
Less	FINANCIAL EXPENSES		1.356	0.355
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		2.605	0.008
Less/ Add	DEPRECIATION/ AMORTISATION		2.508	0.566
	PROFIT BEFORE TAX		0.097	(0.558)
Less	TAX		(0.091)	0.087
	PROFIT AFTER TAX		0.188	(0.645)
	Earnings Per Share (Rs.)		0.32	(1.41)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.92	(19.77)	NA
Operating Profit Margin (PBDIT / Sales)	(%)	19.35	(11.16)	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.34	(3.01)	NA
Return on Investment (ROI) (PBT/Networth)		0.01	(0.13)	NA
Debt Equity Ratio (Total Debt /Networth)		2.77	3.25	0.01
Current Ratio (Current Asset/Current Liability)		1.42	1.99	50.60

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	4.800	5.800
Reserves & Surplus	0.000	(0.645)	1.543
Net worth	0.100	4.155	7.343
long-term borrowings	0.025	12.932	16.523
Short term borrowings	0.000	0.591	3.838
Total borrowings	0.025	13.523	20.361
Debt/Equity ratio	0.250	3.255	2.773

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	3.254	20.470
		529.072

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	3.254	20.470
Profit	(0.645)	0.188
	(19.82%)	0.92%

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	Yes
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	Yes
20]	Export / Import details (if applicable)	Yes
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 LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Loans and Advance from related Parties (Other Directors )	0.225	2.125
Total	0.225	2.125

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10376557	22/04/2014 *	24,308,000.00	State Bank of India	State Bank of India, Goregaon East, Mumbai, Mahar  ashtra - 400063, INDIA	C02499986

FIXED ASSETS

• Land
• Leasehold
• Shed and Building
• Plant and Machinery
• Furniture and Fixture
• Computer

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.62.13
UK Pound	1	Rs.95.77
Euro	1	Rs.71.05

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		26

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.