MIRA INFORM REPORT

Report No. :	301163
Report Date :	06.01.2015

IDENTIFICATION DETAILS

Name :	KALI PIGMENTS PRIVATE LIMITED

Registered Office :	1/4C, Khagendra Chatterjee Road, Near Chiriamore, Kolkata – 700002, West Bengal

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	06.12.1982

Com. Reg. No.:	21-035522

Capital Investment / Paid-up Capital :	Rs. 16.000 Millions

CIN No.: [Company Identification No.]	U24224WB1982PTC035522

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 and Importer of Lead Oxide.

No. of Employees :	50 (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 34000

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 loss that company has incurred from its operational activities. However, trade relation 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

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Pradeep Kejriwal
Designation :	Director
Contact No.:	91-9836798663
Date :	29.12.2014

LOCATIONS

Registered Office/ Factory :	1/4C, Khagendra Chatterjee Road, Near Chiriamore, Kolkata – 700002, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9836798663 (Mr. Pradeep)
Fax No.:	Not Available
E-Mail :	pvpkejriwal@gmail.com ganeshbajaj@in.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Pradeep Kejriwal

Designation :

Director

Address :

B G – 31 Salt Lake City Sector -2, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

22.08.1977

Date of Appointment :

01.03.1999

DIN No.:

00587440

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	U65923WB1996PTC080430	KANHAIYA SECURITIES PVT LTD	Director	11-07-96	11-07-96	-	Amalgamated	NO
2	U65999WB1997PTC083412	KALI VINIYOG PRIVATE LIMITED	Director	17-03-97	17-03-97	21-09-10	Strike off	NO
3	U99999WB1997PTC837412	KALI VINIYOG PRIVATE LIMITED	Director	17-03-97	17-03-97	-	Not Available for eFiling	NO
4	U24224WB1982PTC035522	KALI PIGMENTS PVT LTD	Director	01-03-99	01-03-99	-	Active	NO
5	U31104WB2002PLC095048	RAHUL VYAPAAR LIMITED	Director	26-08-02	26-08-02	-	Active	NO
6	U65999WB1992PTC056450	EKDANT CAPITAL MARKETS PVT LTD	Additional director	23-12-09	23-12-09	21-09-10	Strike off	NO
7	U27100WB2010PTC152366	PREMLATA SMELTING PRIVATE LIMITED	Director	17-08-10	17-08-10	-	Active	NO
8	U24299WB1993PTC058494	KAMALA PIGMENTS PVT LTD	Director	29-09-12	06-01-11	-	Active	NO
9	U70109WB2011PTC164479	PARMESHWARI DEVI INFRASTRUCTURE PRIVATE LIMITED	Director	02-07-11	02-07-11	-	Active	NO

Name :

Ms. Kamal Kishore Kejriwa

Designation :

Director

Address :

B G – 31 Salt Lake City Sector -2, Kolkata – 700091, West Bengal, India

Date of Appointment :

30.09.2011

DIN No.:

00587333

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	U24299WB1993PTC058494	KAMALA PIGMENTS PVT LTD	Director	12-12-13	17-05-93	-	Active	NO
2	U65910WB1996PTC080429	KAILASH PARWAT SECURITIES PVT LTD	Director	11-07-96	11-07-96	-	Amalgamated	NO
3	U65999WB1997PTC083412	KALI VINIYOG PRIVATE LIMITED	Director	17-03-97	17-03-97	21-09-10	Strike off	NO
4	U99999WB1997PTC837412	KALI VINIYOG PRIVATE LIMITED	Director	17-03-97	17-03-97	-	Not Available for eFiling	NO
5	U65999WB1992PTC056450	EKDANT CAPITAL MARKETS PVT LTD	Director	18-08-99	18-08-99	21-09-10	Strike off	NO
6	U31104WB2002PLC095048	RAHUL VYAPAAR LIMITED	Director	26-08-02	26-08-02	-	Active	NO
7	U24224WB1982PTC035522	KALI PIGMENTS PVT LTD	Director	30-09-11	30-03-07	-	Active	NO
8	U70109WB2011PTC164479	PARMESHWARI DEVI INFRASTRUCTURE PRIVATE LIMITED	Director	02-07-11	02-07-11	-	Active	NO
9	U27100WB2010PTC152366	PREMLATA SMELTING PRIVATE LIMITED	Director	12-12-13	12-12-13	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders		No. of Shares
Kamal Kishore Kejriwa		100
Pradeep Kejriwal		200
Vasshika Kejriwal		7715
Sharaddha Kejriwal		148540
Kamal Kishore Kejriwa (HUF)		18300
Pradeep Kejriwal (HUF)		17600

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.000
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Importer of Lead Oxide.

Products :	v Lead Oxide

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :
Products :	Raw Material

Terms :
Selling :	Cash, L\C and Credit

Purchasing :	Cash, L\C 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 :

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 :

50 (Approximately)

Bankers :

Banker Name	UCO Bank
Branch Address	Kolkata Main Branch(Retail), 10, B.T.M. Sarani (Brabourne Road, Kolkata – 700001, West Bengal, 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
Long term Maturities of finance leases obligation	0.064	0.391
Working Capital Loans	23.869	22.798
Buyers Credit	33.291	18.337
Total	57.224	41.525

Auditors :
Name :	S.K. Agrawal and Company Chartered Accountant
Address :	4A, Council House Street, Kolkata – 700001, West Bengal, India
PAN No.:	AATFS9977P


Enterprises Owned / Significantly influenced by key management personnel:	v Kamala Pigments Private Limited, India v Kejriwal Auto – Electric And Engineering Works. v Premlata Smelting Private Limited, India v Rahul Vyspaar Limited, India

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

500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

410000	Equity Shares	Rs.10/- each	Rs. 4.100 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	4.100	4.100	4.100
(b) Reserves & Surplus	7.927	8.174	7.561
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	12.027	12.274	11.661

(3) Non-Current Liabilities
(a) long-term borrowings	0.064	0.391	0.237
(b) Deferred tax liabilities (Net)	1.477	1.420	1.451
(c) Other long term liabilities	0.000	0.842	1.860
(d) long-term provisions	0.210	0.277	0.233
Total Non-current Liabilities (3)	1.751	2.930	3.781

(4) Current Liabilities
(a) Short term borrowings	72.618	52.714	39.590
(b) Trade payables	16.375	21.458	22.792
(c) Other current liabilities	21.270	9.197	9.542
(d) Short-term provisions	0.182	0.486	0.414
Total Current Liabilities (4)	110.445	83.855	72.338

TOTAL	124.223	99.059	87.780

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11.551	10.513	9.166
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.041	5.741	8.812
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.592	16.254	17.978

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	16.016	21.682	17.319
(c) Trade receivables	36.998	29.899	35.059
(d) Cash and cash equivalents	15.677	12.883	10.666
(e) Short-term loans and advances	42.940	18.341	6.758
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	111.631	82.805	69.802

TOTAL	124.223	99.059	87.780

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	222.575	218.229	188.381
		Other Income	1.645	1.074	0.733
		TOTAL	224.220	219.303	189.114

Less	EXPENSES
		Cost of Materials Consumed	205.034	191.302	160.381
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(7.211)	(0.702)	3.911
		Employees benefits expense	2.737	3.370	3.477
		Other expenses	16.870	15.769	12.913
		TOTAL (B)	217.430	209.739	180.682

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		6.790	9.564	8.432

Less	FINANCIAL EXPENSES		5.945	7.468	6.842

	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.845	2.096	1.590

Less/ Add	DEPRECIATION/ AMORTISATION		0.996	1.133	0.979

	PROFIT/ (LOSS) BEFORE TAX		(0.151)	0.963	0.611

Less	TAX		0.102	0.307	0.396

	PROFIT/ (LOSS) AFTER TAX		(0.253)	0.656	0.215

	Earnings Per Share (Rs.)		(0.62)	1.60	0.53

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PARTICULARS
Net Profit Margin (PAT/Sales)	(%)	(0.11)	0.30	0.11

Operating Profit Margin (PBITD/Sales)	(%)	(3.05)	4.38	4.48

Return on Total Assets (PBT/Total Assets}	(%)	(0.12)	0.97	0.70

Return on Investment (ROI) (PBT/Networth)		(0.01	0.08	0.05

Debt Equity Ratio (Total Debt /Networth)		6.04	4.33	3.42

Current Ratio (Current Asset/Current Liability)		1.01	0.99	0.96

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	4.100	4.100	4.100
Reserves & Surplus	7.561	8.174	7.927
Net worth	11.661	12.274	12.027

long-term borrowings	0.237	0.391	0.064
Short term borrowings	39.590	52.714	72.618
Total borrowings	39.827	53.105	72.682
Debt/Equity ratio	3.415	4.327	6.043

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	188.381	218.229	222.575
		15.844	1.991

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	188.381	218.229	222.575
Profit	0.215	0.656	-0.253
	0.11%	0.30%	(0.11%)

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
Short Term Borrowing
From banks	1.414	0.000
From Non - Banking Financial Institutions	0.846	0.000
From related parties	12.766	9.251
From others	0.432	2.327
Total	15.456	11.578

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90250748	20/07/2004	2,000,000.00	UCO BANK	KOLKATA MAIN BRANCH, 10; B.T.M. SARANI, KOLKATA, West Bengal - 700001, INDIA	-
2	90249633	18/10/2011 *	63,095,000.00	UCO BANK	KOLKATA MAIN BRANCH (RETAIL), 10, B. T. M. SARANI ,(BRABOURNE ROAD), KOLKATA, West Bengal - 700001, INDIA	B24995979

* Date of charge modification

FIXED ASSETS

v Plant And Machinery

v Electric Equipments

v Office Equipments

v Furniture and Fixture

v Air Conditioner

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

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	KAR

Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

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

MIRA INFORM REPORT

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