MIRA INFORM REPORT

Report No. :	309653
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	BASIL RESOURCES PRIVATE LIMITED
Registered Office :	A - 205, Mahakali Caves Road, MIDC, Andheri East - 400093, Mumbai, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.11.2012
Com. Reg. No.:	11-238214
Capital Investment / Paid-up Capital :	Rs. 5.000 Million
CIN No.: [Company Identification No.]	U74120MH2012PTC238214
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMB22656E
PAN No.: [Permanent Account No.]	AAFCB2715D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Agri products and Mineral.
No. of Employees :	14 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has taken huge external borrowing which may acts as a threat to its liquidity position. However, trade relations are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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. Sheshav jeet
Designation :	Marketing Executive
Contact No.:	91-22-67263000
Date :	24.02.2015

LOCATIONS

Registered Office :	A - 205, Mahakali Caves Road, MIDC, Andheri East - 400093, Mumbai, Maharashtra, India
Tel. No.:	91-22-67263000
Fax No.:	91-22-67263030
E-Mail :	mumbai@piscesexim.com
Website :	www.basilresources.com
Location :	Rented
Warehouse 1 :	Bhiwandi
Location :	Rented
Warehouse 2 :	Gandhidham, Gujarat, India
Location :	Rented

DIRECTORS

As on 27.09.2013

Name :

Mrs. Preeti Jena

Designation :

Director

Address :

BG – I Rose Woods Apaertments, Mayur Vihar – 1, New Delhi – 110091, India

Date of Birth/Age :

22.04.1975

Date of Appointment :

23.11.2012

DIN No.:

02789501

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	U74900GA2009PTC006231	PISCES EXIM (INDIA) PRIVATE LIMITED	Director	27/11/2009	27/11/2009	11/06/2013	Active	NO
2	U27205MH2011PTC225590	PISCES STEEL PRIVATE LIMITED	Director	30/12/2011	30/12/2011	-	Active	NO
3	U70109DL2000PLC108652	GULMOHUR GRAN LIMITED	Additional director	07/02/2012	07/02/2012	28/09/2012	Active	NO
4	U74120MH2012PTC238214	BASIL RESOURCES PRIVATE LIMITED	Director	23/11/2012	23/11/2012	-	Active	NO
5	U74900MH2013PTC245794	SIDDHI TRADEMATRIX PRIVATE LIMITED	Additional director	02/12/2013	02/12/2013	08/05/2014	Active	NO

Name :

Mr. Sandip Jena

Designation :

Director

Note: As claimed by Ms. Mittal (Company Secretary) director’s names are as above

KEY EXECUTIVES

Name :	Mr. Sheshav jeet
Designation :	Marketing Executive

MAJOR SHAREHOLDERS

As on 27.09.2013

Names of Shareholders	No. of Shares
Preeti Jena	499500
Prakash Chandra Shandri	500
Total	500000

As on 27.09.2013

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 :	Trader and Importer of Agri products and Mineral.
Products :	Minerals Food Products
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	China Middle East
Imports :
Products :	Raw Material
Countries :	China Middle East Russia
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Bharti Associates
• Emkay Traders
• R. B. International
• Shree Siddhivinayak Enterprises
• S.S. Enterprises

Reference :	Sabic, UAE
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 :

Wholesalers, Retailers, Manufacturers and End Users

• Abhijeet Projects Limited
• Balaji Minerals

Reference :	R. B. International, Raipur
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 :

14 (Approximately)

Bankers :

• Punjab National Bank, MCB Branch, Brady House, V.N. Road, fort, Mumbai – 400023, Maharashtra, India

Banker Name	Axis Bank
Branch Address	MIDC, Andheri (East)
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
Term Loan	NA	25.289
SHORT TERM BORROWING
Cash Credit - PNB	NA	68.612
Total	NA	93.901

Auditors :
Name :	Dargar and Company Chartered Accountants
Address :	58, Maharashtra Bhava, 4^th Floor, Near Handloom House, bora Masjid Street, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-66335498
PAN No.:	AAAHPD244G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 27.09.2013

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.000	5.000
(b) Reserves & Surplus	18.165	8.583
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	20.000	20.000
Total Shareholders’ Funds (1) + (2)	43.165	33.583
(3) Non-Current Liabilities
(a) long-term borrowings	153.069	100.289
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	153.069	100.289
(4) Current Liabilities
(a) Short term borrowings	89.934	68.612
(b) Trade payables	99.084	51.563
(c) Other current liabilities	10.408	7.018
(d) Short-term provisions	4.500	4.500
Total Current Liabilities (4)	203.926	131.693
TOTAL	400.160	265.565
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	50.204	39.972
(ii) Intangible Assets	0.010	0.015
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	50.214	39.987
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	141.064	175.120
(c) Trade receivables	174.172	29.130
(d) Cash and cash equivalents	4.275	10.033
(e) Short-term loans and advances	30.430	11.290
(f) Other current assets	0.005	0.005
Total Current Assets	349.946	225.578
TOTAL	400.160	265.565

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	983.995	956.914
	Other Income	0.301	0.036
	TOTAL (A)	984.296	956.950
Less	EXPENSES
	Purchases of Stock-in-Trade	884.176	1107.827
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	34.033	(175.120)
	Employees benefits expense	5.665	0.130
	Other expenses	4.823	1.711
		20.172	8.323
	TOTAL (B)	948.869	942.871
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	35.428	14.079
Less	FINANCIAL EXPENSES (D)	16.777	0.967
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	18.651	13.112
Less/ Add	DEPRECIATION/ AMORTISATION (F)	4.569	0.029
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	14.082	13.083
Less	TAX (I)	4.500	4.500
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	9.582	8.583
	Earnings / (Loss) Per Share (Rs.)	19.16	17.17

Expected Sales (2014-2015) : Rs. 1300.000 Millions

The above information has been parted by Mr. Sheshav Jeet

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.97	0.90
Operating Profit Margin (PBDIT / Sales)	(%)	3.60	1.47
Return on Total Assets (PBT/Total Assets}	(%)	3.52	4.93
Return on Investment (ROI) (PBT/Networth)		0.33	0.39
Debt Equity Ratio (Total Debt /Networth)		5.63	5.03
Current Ratio (Current Asset/Current Liability)		1.72	1.71

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	5.000	5.000
Reserves & Surplus	8.583	18.165
Share application money pending allotment fund	20.000	20.000
Net worth	33.583	43.165
long-term borrowings	100.289	153.069
Short term borrowings	68.612	89.934
Total borrowings	168.901	243.003
Debt/Equity ratio	5.029	5.630

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	956.914	983.995
		2.830

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	956.914	983.995
Profit	8.583	9.582
	0.90%	0.97%

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 two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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 advances from related parties	NA	75.000
Total	NA	75.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10419630	30/03/2013	32,000,000.00	PUNJAB NATIONAL BANK	MCB Branch, Brady House,, V. N. Road, Fort,, Mumbai, Maharashtra - 400023, INDIA	B73162679
2	10412482	13/02/2013	90,000,000.00	PUNJAB NATIONAL BANK	MCB Branch, Brady House,, V. N. Road, Fort,, Mumbai, Maharashtra - 400023, INDIA	B71013916

* Date of charge modification

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.62.04
UK Pound	1	Rs.96.02
Euro	1	Rs.70.43

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	ART

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	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	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.