MIRA INFORM REPORT

Report Date :

01.01.2015

IDENTIFICATION DETAILS

Name :	K. K. POONJA AND SONS
Registered Office :	1422, IIIrd Phase, GIDC Estate, Vapi – 396195, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	1971
Capital Investment :	Rs. 98.195 Millions
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAAFK3847R
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Manufacturer, Exporter and Importer of Fertilizers, Chemicals, Paints, etc.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 280000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established partnership concern having a satisfactory track record. The rating takes into consideration concerns sound financial risk profile and fair profitability margins of the concern. Trade relations are fair. Business is active. Payemtn terms are reported to be usually correct. The concern can be considered for business dealings at usual trade terms and conditions.

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	B21
Very High	C1
Restricted	C2
Off-credit	D

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 PARTED BY

Name :	Mr. Sanjay Khatau
Designation :	Partner
Contact No.:	91-9820078716
Date :	30.12.2014

LOCATIONS

Registered Office/ Factory :	1422, IIIrd Phase, GIDC Estate, Vapi – 396195, Gujarat, India
Tel. No.:	91-260-2432276
Mobile No.:	91-9820078716 (Mr. Sanjay)
Fax No.:	Not Available
E-Mail :	sanjay@kkpoonja.com
Website :	www.kkpoonja.com
Head Office :	B-48, 1^st Floor, Cotton Exchange Building, Opp. Cotton Green Railway Station, Cotton Green (East), Mumbai - 400033, Maharashtra, India

PARTNERS

Name :	Mr. Hardik Sampat
Designation :	Partner
Name :	Mr. Sanjay Khatau
Designation :	Partner
PAN No.:	AACPK2441D
Name :	Mr. Jaymal Khatau
Designation :	Partner
Name :	Sagar Speciality Chemicals Private Limited
Designation :	Partner

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Fertilizers, Chemicals, Paints, etc.

Products :

Item Code No. (ITC Code)	Product Description
0108	Manufacturing Industry – Fertilizers, Chemicals, Paints.

Brand Names :

--

Agencies Held :

--

Exports :

Products :

Chemical

Countries :

· Korea

· USA

· Saudi Arabia

Imports :

Products :

Raw Material

Countries :

· Italy

· Japan

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and Credit

GENERAL INFORMATION

Suppliers :

Reference:	Taiyo Bussan, Japan
Name of the Person (with Designation):	NOT DIVULGED
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	Reliance
Name of the Person (with Designation):	NOT DIVULGED
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Wholesalers, Retailers and Manufacturer

No. of Employees :

25 (Approximately)

Bankers :

Bank Name:	The Shamrao Vithal Co-operative Bank Limited
Branch:	Madvi, Mumbai, Maharashtra, India
Name of the Person (with Designation):	NOT DIVULGED
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks:

· Bank of Baroda, Mumbai, Maharashtra, India

· Bank of Baroda, Vapi, Gujarat, India

· Shreeji Bhatia Co-operative Bank Limited

· HDFC Bank Limited, Mumbai, Maharashtra, India

· HDFC Bank Limited, Vapi, Gujarat, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
From Banks
The Shamrao Vithal Co-operative Bank Limited CC	3.332	1.117
Term Loan No. 1028	8.482	6.840
Asset Finance	2.102	3.000
The Shamrao Vithal Co-operatibe Bank Limited PC	6.542	0.000
Other Loans and Advances
Kotak Mahindra Prime	1.074	0.634
HDFC Bank (Two Wheeler Loan)	0.009	0.029
Total	21.541	11.620

Auditors :
Name :	S.H. Dalal and Company Chartered Accountants
Sister Concerns:	--

CAPITAL STRUCTURE

As on 31.03.2014

Capital Investment :
Owned :	Rs. 98.195 Millions
Borrowed :	--
Total :	Rs. 98.195 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Expected Sales (2014-2015): Rs. 180.000 Millions

The above information has been parted by Mr. Sanjay Khatau (Partner).

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Partners Capital		98.195	95.795
2] Share Application Money		0.000	0.000
3] Profit and Loss Account		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		98.195	95.795
LOAN FUNDS
1] Secured Loans		21.541	11.620
2] Unsecured Loans		2.001	2.174
TOTAL BORROWING		23.542	13.794
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		121.737	109.589
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		93.863	91.078
Capital work-in-progress		0.000	0.000
INVESTMENT		0.059	3.062
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	52.870	26.547
	Sundry Debtors	13.303	13.948
	Cash & Bank Balances	0.997	4.043
	Other Current Assets	9.828	7.606
	Loans & Advances	3.794	2.118
Total Current Assets		80.792	54.262
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	50.718	36.541
	Other Current Liabilities	0.075	0.069
	Provisions	2.193	2.203
Total Current Liabilities		52.986	38.813
Net Current Assets		27.806	15.449
MISCELLANEOUS EXPENSES		0.009	0.000
TOTAL		121.737	109.589

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	188.794	142.192
		Other Income	1.005	1.049
		TOTAL (A)	189.799	143.241
Less	EXPENSES
		Raw Materials	145.573	94.273
		Manufacturing Expenses	19.222	15.265
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(5.458)	(0.396)
		Selling and Administrative Expenses	14.764	13.724
		Remuneration to Partners	6.916	10.226
		TOTAL (B)	181.017	133.092
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8.782	10.149
Less	FINANCIAL EXPENSES (D)		0.724	0.656
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.058	9.493
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.078	5.876
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.980	3.617
Less	TAX (H)		0.000	2.106
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.980	1.511

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.52	1.06
Operating Profit Margin (PBDIT/Sales)	(%)	4.65	7.14
Return on Total Assets (PBT/Total Assets}	(%)	0.56	2.49
Return on Investment (ROI) (PBT/Networth)		0.01	0.04
Debt Equity Ratio (Total Debt/Networth)		0.24	0.14
Current Ratio (Current Asset/Current Liability)		1.52	1.40

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Partners Capital	95.795	98.195
Reserves & Surplus	0.000	0.000
Net worth	95.795	98.195
Secured Loans	11.620	21.541
Unsecured Loans	2.174	2.001
Total borrowings	13.794	23.542
Debt/Equity ratio	0.144	0.240

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	142.192	188.794
		32.774

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	142.192	188.794
Profit	1.511	0.980
	1.06%	0.52%

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	No
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	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
Loans and Advance - Others
Deepak D. Doshi	0.401	0.000
Karthikeya Khatau	1.500	2.021
Poonja Finechem Private Limited	0.100	0.100
From Friends and Relatives	0.000	0.053
Total	2.001	2.174

FIXED ASSETS

· Air Conditioner

· Building and Shed

· Calculator

· Computer and Accessories

· Diesel Generator Set

· Fax Machine

· Furniture

· Land and Shed

· Laboratory Equipment

· Machinery

· Motor Car

· Office Equipment

· Refrigerator

· Television

· Water Filter

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.63.75
UK Pound	1	Rs.98.88
Euro	1	Rs.77.32

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		48

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.