MIRA INFORM REPORT

Report No. :	302622
Report Date :	15.01.2015

IDENTIFICATION DETAILS

Name :	NEO PETCON (INDIA) PRIVATE LIMITED
Registered Office :	Door No. D-10, Phase – IV, Extension IDA, Jeedimetla, Ranga Reddy, Telangana – 500055, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.01.1995
Com. Reg. No.:	36-019104
Capital Investment / Paid-up Capital :	Rs. 8.834 Millions
CIN No.: [Company Identification No.]	U24299TG1995PTC019104
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	HYDN00443C
PAN No.: [Permanent Account No.]	AAACN4660N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the manufacturer of fuel additives and Trading of Fuel Additives, Liquified Petroleum Gas, Chemicals.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company has processed above average financial performance which has resulted into profit achieved from its operational activities during 2014. Further rating also takes into consideration company’s sound financial base and fair liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company 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	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.

LOCATIONS

Registered Office :	Door No. D-10, Phase – IV, Extension IDA, Jeedimetla, Ranga Reddy, Telangana – 500055, Andhra Pradesh, India
Tel. No.:	91-40-23096433/ 23196433
Fax No.:	91-40-23098939
E-Mail :	neopetcon@gmail.com hyd2_npiplh@sancharnet.in
Branch Office :	A-36, Basement, Shanker Garden, Vikas Puri, New Delhi – 110018, India
Tel. No.:	91-11-25612452/ 25597861/ 25548405
Fax No.:	91-11-25528782
E-Mail :	petcon@vsnl.com petconindia@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :

Vinay Kumar

Designation :

Whole Time Director

Address :

C-194, New Friends Colony, New Delhi – 10095, India

Date of Birth/Age :

16.04.1946

Date of Appointment :

02.01.1995

DIN No.:

00039729

Name :

Pawan Mohan Lal Shah

Designation :

Managing Director

Address :

7-1-29/4/22, Ameerpet, Hyderabad – 500016, India

Date of Birth/Age :

03.08.1945

Date of Appointment :

02.01.1995

DIN No.:

00039741

Name :

Ekkadu Srikant

Designation :

Director

Address :

409, Metro Palmgrove Apartments, Somajiguda, Hyderabad – 500016, India

Date of Birth/Age :

04.06.1947

Date of Appointment :

26.11.1997

DIN No.:

00039739

Name :

Suresh Shenoi

Designation :

Director

Address :

K 11/25, DLF Qutab Enclave, Phase II, Gurgaon, Haryana, India

Date of Birth/Age :

18.04.1945

Date of Appointment :

28.07.2004

DIN No.:

00039749

Name :

Muthachen John Kuriyan

Designation :

Director

Address :

4B, 4C, Shaaswath Apartment, 268/2, Race Course, Coimbatore – 641018, Tamilnadu, India

Date of Birth/Age :

07.09.1946

Date of Appointment :

09.11.2008

DIN No.:

02030992

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	U72200TZ2008PTC014225	JAGUAR SOFTWARE PRIVATE LIMITED	Director	13/02/2008	13/02/2008	-	Active	NO
2	U24299TG1995PTC019104	NEO PETCON (INDIA) PRIVATE LIMITED	Director	19/08/2009	09/11/2008	-	Active	NO
3	U74910TZ2009PTC015473	JAGUAR STAFFING SOLUTIONS PRIVATE LIMITED	Director	09/09/2009	09/09/2009	-	Active	NO
4	U00113TZ1996PTC007240	KPJ MANAGEMENT CONSULTING PRIVATE LIMITED	Additional director	10/05/2010	10/05/2010	-	Active	NO
5	L01132KA1936PLC002642	DEVON PLANTATIONS AND INDUSTRIES LIMITED	Director	29/09/2010	29/07/2010	-	Active	NO

Name :

Seshadri Giridhar

Designation :

Director

Address :

5, Ganapathy Apartments, Lakshmi Road, Shanto Nagar, Bangalore – 560027, Karnataka, India

Date of Birth/Age :

22.07.1947

Date of Appointment :

01.03.2009

DIN No.:

02551558

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the manufacturer of fuel additives and Trading of Fuel Additives, Liquified Petroleum Gas, Chemicals.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
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 :

Information declined by the management.

Bankers :

• Axis Bank Limited, 6-3-879/B, Greenlands Road, Begumpet, Hyderabad – 500016, Andhra Pradesh, India
• UTI Bank Limited, 6-3-879/B, Greenlands Road, Begumpet, Hyderabad – 500016, Andhra Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
Axis Bank Limited	2.876	2.114
Total	2.876	2.114

Auditors :
Name :	V S Rao and Company Chartered Accountant
Address :	6-3-609/136, Anand Nagar Colony, Hyderabad – 500004, India
PAN No.:	AABFV3657R
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
1,800,000	Equity Shares	Rs. 10/- each	Rs. 18.000 Millions
20,000	Equity Shares	Rs. 100/- each	Rs. 2.000 Millions
	Total		Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
883,425	Equity Shares	Rs. 10/- each	Rs. 8.834 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	8.834	8.834	8.834
(b) Reserves & Surplus	99.625	95.708	113.439
(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)	108.459	104.542	122.273
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	1.281	1.413	1.705
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.523	1.195	0.797
Total Non-current Liabilities (3)	2.804	2.608	2.502
(4) Current Liabilities
(a) Short term borrowings	2.876	2.114	4.778
(b) Trade payables	11.869	0.886	1.238
(c) Other current liabilities	6.108	3.852	4.964
(d) Short-term provisions	3.260	0.092	0.097
Total Current Liabilities (4)	24.113	6.944	11.077
TOTAL	135.376	114.094	135.852
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	62.093	64.853	69.299
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	2.164	2.164	2.164
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.011	0.011	0.011
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.321	10.350	10.130
(e) Other Non-current assets	1.397	2.191	0.984
Total Non-Current Assets	75.986	79.569	82.588
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.028	23.219	41.412
(c) Trade receivables	22.804	5.424	4.350
(d) Cash and cash equivalents	8.999	3.358	5.343
(e) Short-term loans and advances	4.559	2.524	2.159
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	59.390	34.525	53.264
TOTAL	135.376	114.094	135.852

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operation	325.558	193.316	122.826
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		8.628	(18.236)	(16.715)
Less	TAX		1.610	(0.505)	0.000
	PROFIT/ (LOSS) AFTER TAX		7.018	(17.731)	(16.715)
	Earnings / (Loss) Per Share (Rs.)		7.94	(20.07)	(18.92)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.15	(9.17)	(13.60)
Return on Total Assets (PBT/Total Assets}	(%)	6.48	(16.29)	(12.50)
Return on Investment (ROI) (PBT/Networth)		0.08	(0.17)	(0.14)
Debt Equity Ratio (Total Liability/Networth)		0.03	0.02	0.04
Current Ratio (Current Asset/Current Liability)		2.46	4.97	4.81

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	8.834	8.834	8.834
Reserves & Surplus	113.439	95.708	99.625
Net worth	122.273	104.542	108.459
long-term borrowings	0.000	0.000	0.000
Short term borrowings	4.778	2.114	2.876
Total borrowings	4.778	2.114	2.876
Debt/Equity ratio	0.039	0.020	0.027

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	122.826	193.316	325.558
		57.390	68.407

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	122.826	193.316	325.558
Profit	(16.715)	(17.731)	7.018
	(13.61%)	(9.17%)	2.16%

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	No
10]	Designation of contact person	No
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	No

Note: Registered office of the company has been shifted from Plot No.20, IDA, Balanagar, Hyderabad – 500037, Andhra Pradesh, India to the present address w.e.f.01.07.2010

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90136326	06/09/2011 *	10,000,000.00	AXIS BANK LIMITED	6-3-879/B, GREENLANDS, BEGUMPET, HYDERABAD, Andhra Pradesh - 500016, INDIA	B23340300
2	90260112	14/09/2005 *	7,500,000.00	UTI BANK LTD.	GREENLANDS ROAD, BEGUMPET, HYDERABAD, Andhra Pradesh, INDIA	-
3	90135431	07/02/2000 *	1,500,000.00	STATE BANK OF HYDERABAD	RASHTRA PATHI ROAD, SECUNDERABAD, Andhra Pradesh,  INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Machinery
• Office Equipment
• Air Conditioners
• Furniture and Fixture
• Vehicles

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. 62.15
UK Pound	1	Rs. 94.24
Euro	1	Rs. 73.29

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--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	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		43

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.