MIRA INFORM REPORT

Report Date :

01.01.2015

IDENTIFICATION DETAILS

Name :	AROMATICS INDIA PRIVATE LIMITED
Registered Office :	F - 25, DSIDC INDL Complex, Rohtak Road, Nangloi, Delhi - 110041
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.05.1996
Com. Reg. No.:	55-078878
Capital Investment / Paid-up Capital :	Rs. 20.873 Millions
CIN No.: [Company Identification No.]	U24116DL1996PTC078878
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 :	Manufacturer of Detergent Powder and Detergent Cake, Bar, Liquid Detergent etc.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (32)

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 record. The rating is constrained on account of company’s moderate financial risk profile and low 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	ICRA
Rating	Term loans = B +
Rating Explanation	Risk prone credit quality and high credit risk
Date	February 2014

Rating Agency Name	ICRA
Rating	Non fund based short term limits = A4
Rating Explanation	Minimal degree of safety and very high credit risk
Date	February 2014

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 DECLINED

MANAGEMENT NON CO- OPERATIVE (91-11-25472321)

LOCATIONS

Registered Office :	F - 25, DSIDC INDL Complex, Rohtak Road, Nangloi, Delhi – 110041, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	admin@acearomatics.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Kailash Chander Kochhar

Designation :

Director

Address :

R/O: A-1/198, Paschim Vihar, New Delhi – 110063, Delhi, India

Date of Birth/Age :

20.08.1951

Date of Appointment :

14.05.1996

DIN No.:

00459423

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	U24116DL1996PTC078878	AROMATICS INDIA PRIVATE LIMITED	Director	14-05-96	14-05-96	-	Active	NO
2	U74899DL1985PTC019868	EKTA CHEMICALS PRIVATE LTD	Director	01-08-08	01-08-08	-	Active	NO

Name :

Mr. Saiyam Kochhar

Designation :

Director

Address :

R/O: A-1/198, Paschim Vihar, New Delhi – 110063, Delhi, India

Date of Birth/Age :

23.08.1981

Date of Appointment :

03.09.2009

DIN No.:

00468438

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	U74899DL1994PTC059736	ASTHA IMPEX PRIVATE LIMITED	Director	15-02-00	15-02-00	11-03-13	Active	NO
2	U74899DL1985PTC019868	EKTA CHEMICALS PRIVATE LTD	Director	10-12-07	10-12-07	01-08-08	Active	NO
3	U24116DL1996PTC078878	AROMATICS INDIA PRIVATE LIMITED	Additional director	03-09-09	03-09-09	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
K. C. Kochhar	800000
Joginder Kumar Guglani	3020
Rakesh Upadhyay	2000
Pushpa Rani Kochhar	81020
Bindu Guglani	3500
Surjan Singh	2000
R.C. Sharma	5000
I.K. Ahluwalia	1000
Ekta Chemicals Private Limited, India	8600
Astha Impex Private Limited, India	81000
K.C. Kochhar (Huf)	67000
Promila Kochhar	5000
Vidya Rani	20000
Saiyam Kochhar	482070
Sahil Kochhar	472500
Neha Guglani	5000
Mukti Gupta	500
Komal Gupta	500
Manju Gupta	1000
Nishtha Kochhar	2600
Rajneesh Vats	9000
Mohd Lltaf	35000
Total	2087310

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	4.00
Directors or relatives of Directors	92.00
Other top fifty shareholders	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Detergent Powder and Detergent Cake, Bar, Liquid Detergent etc.

Products :

Item Code No. (ITC Code)	Product Description
3402, 34021190	Chemical Product

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 :

Not Divulged

Bankers :

Banker Name	Union Bank of India
Branch Address	26/2, East Patel Nagar, New Delhi – 110008, Delhi, 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

Auditors :
Name :	Pramod Kumar and Company Chartered Account
Address :	49, New Rajender Nagar DDA Site, No.1 Shankar Road, New Delhi-110060, India
PAN No.:	AAAFP5502G
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
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2087310	Equity Shares	Rs.10/- each	Rs. 20.873 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	20.873	20.873	7.373
(b) Reserves & Surplus	39.832	28.255	18.298
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	12.000
Total Shareholders’ Funds (1) + (2)	60.705	49.128	37.671
(3) Non-Current Liabilities
(a) long-term borrowings	28.504	28.132	35.391
(b) Deferred tax liabilities (Net)	1.530	0.000	0.025
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.129	0.000	0.000
Total Non-current Liabilities (3)	30.163	28.132	35.416
(4) Current Liabilities
(a) Short term borrowings	89.492	137.085	94.444
(b) Trade payables	84.055	61.756	0.698
(c) Other current liabilities	11.664	-5.649	1.400
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	185.211	193.192	96.542
TOTAL	276.079	270.452	169.629
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	42.158	21.937	17.459
(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	16.783	3.669
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.014	0.000
(d) Long-term Loan and Advances	0.178	0.289	0.254
(e) Other Non-current assets	0.091	0.149	0.102
Total Non-Current Assets	42.427	39.172	21.484
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	61.865	20.673	39.460
(c) Trade receivables	154.926	160.527	69.302
(d) Cash and cash equivalents	1.534	0.904	0.300
(e) Short-term loans and advances	15.327	49.024	38.943
(f) Other current assets		0.152	0.140
Total Current Assets	233.652	231.280	148.145
TOTAL	276.079	270.452	169.629

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2090.993	1963.631	1090.240
		Other Income	4.781	NA	NA
		TOTAL	2095.774	NA	NA
Less	EXPENSES
		TOTAL	2078.393	NA	NA
	PROFIT BEFORE TAX		17.381	14.799	45.211
Less	TAX		5.676	4.842	40.602
	PROFIT AFTER TAX		11.705	9.957	4.609
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		16.788	6.831	2.222
	BALANCE CARRIED TO THE B/S		28.493	16.788	6.831
	Earnings Per Share (Rs.)		5.61	4.77	2.21

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.56	0.51	0.42
Return on Total Assets (PBT/Total Assets}	(%)	6.30	5.83	27.24
Return on Investment (ROI) (PBT/Networth)		0.29	0.30	1.20
Debt Equity Ratio (Total Debt /Networth)		1.94	3.36	3.45
Current Ratio (Current Asset/Current Liability)		1.26	1.20	1.53

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	7.373	20.873	20.873
Reserves & Surplus	18.298	28.255	39.832
Net worth	25.671	49.128	60.705
long-term borrowings	35.391	28.132	28.504
Short term borrowings	94.444	137.085	89.492
Total borrowings	129.835	165.217	117.996
Debt/Equity ratio	5.058	3.363	1.944

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	1090.240	1963.631	2090.993
		80.110	6.486

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	1090.240	1963.631	2090.993
Profit	4.609	9.957	11.705
	0.42%	0.51%	0.56%

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	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	Yes

Note: Registered office of the company has been shifted from B-3 DSIDC Industrial Complex, Rohtak Road, Nangloi, Delhi, Delhi – 110041, India to the present address w.e.f 18.12.2010

UNSECURED LOAN

(Rs. In Million)

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and advance from related parties	20.965	23.150
Total	20.965	23.150

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90034642	23/04/1998	500,000.00	UNION BANK OF INDIA	26/2, EAST PATEL NAGAR, NEW DELHI, Delhi - 110008, INDIA	-
2	90033781	16/06/2014 *	202,291,000.00	UNION BANK OF INDIA	26/2, EAST PATEL NAGAR, NEW DELHI, Delhi - 110008, INDIA	C09910936

* Date of charge modification

REVIEW OF OPERATION

During the, the Company has earned of Rs. 2090.993 Millions from manufacturing activity, Rs. 3.827 Millions from Providing Service and Rs. 0.954 Millions from other income. The net profit for the year has been R s. 11.705 Millions (One Crore Seventeen Lacs Five Thousand Two Hundred Fifty Eight only) as against Rs. 9.957 Millions (Ninety Nine Lacs Fifty seven thousand one hundred sixty four only) during the previous financial year.

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.63.65
UK Pound	1	Rs.99.14
Euro	1	Rs.77.60

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KRN
Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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		32

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.