MIRA INFORM REPORT

Report No. :	304223
Report Date :	22.01.2015

IDENTIFICATION DETAILS

Name :	HINDUSTAN GUM AND CHEMICALS LIMITED
Registered Office :	Birla Colony, Bhiwani -127021, Haryana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.02.1962
Com. Reg. No.:	05-007739
Capital Investment / Paid-up Capital :	Rs. 9.000 Millions
CIN No.: [Company Identification No.]	U24299HR1962PLC007739
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RTKH01672G
PAN No.: [Permanent Account No.]	AAACH7214E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of "GUAR GUM".
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having a fine track record. As per Registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 are not available from any sources. As per available financial of 2013, Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are regular and as per commitment. The company can be considered normal for business dealings at usual trade terms and conditions. The company can be considered normal 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities: “A+”
Rating Explanation	Have adequate degree of safety and carry low credit risk.
Date	30.12.2014

Rating Agency Name	CARE
Rating	Short term bank facilities: “A1+”
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	30.12.2014

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 BY

Name :	Mr. J. K. Soni
Designation :	Account Manager
Contact No.:	91-9896554111
Date :	20.01.2015

LOCATIONS

Registered/ Head Office/ Factory 1 :	Birla Colony, Bhiwani -127021, Haryana, India
Tel. No.:	91-1664-243891/ 243892/ 243894/ 243811/ 243214
Fax No.:	91-1664-243813
E-Mail :	jksoni@hindustangum.com ashokdepura@hindustangum.com bhiwani@hindustangum.com hichem@vsnl.com
Website :	http://www.hindustangum.com
Factory 2:	E-282-283, Phase H, MIA, Basin, Jodhpur - 342005, Rajasthan, India
Tel. No.:	91-291-2740954/ 2740309/ 2745281
Fax No.:	91-291-245282
Factory 3 :	Plot No-780, Viramgam, Ahmedabad - 382150, Gujarat, India
Tel. No.:	91-2715-234218/ 234318/ 234289
Fax No.:	91-2715-233800
Delhi Office :	UCO Bank Building, 4th Floor, Parliament Street, New Delhi - 110001, India
Tel. No.:	91-11-23719953/ 23714851-56
Fax No.:	91-11-23711561

DIRECTORS

As on 01.09.2014

Name :

Mr. Dhanraj Bansal

Designation :

Director

Address :

Universal Cable Limited, Birla Vikas, Satna – 485005, Madhya Pradesh, India

Date of Birth/Age :

01.08.1939

Qualification :

M.SC

Date of Appointment :

21.11.2008

DIN No.:

00050612

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	L31300MP1983PLC002134	VINDHYA TELELINKS LIMITED	Director	06-11-1987	06-11-1987	-	Active	NO
2	L31300MP1992PLC007190	BIRLA ERICSSON OPTICAL LIMITED	Director	29-06-2012	24-10-1992	-	Active	NO
3	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	21-11-2008	30-09-2006	-	Active	NO
4	U24134DL2007PTC159596	HITEK DERIVATIVES & POLYMERS PRIVATE LIMITED	Director	22-02-2007	22-02-2007	03-03-2008	Active	NO
5	U31300UP1987PTC008657	UNIVERSAL TELELINKS PRIVATE LIMITED	Director	31-07-2007	16-06-2007	-	Active	NO
6	U33200GA2009PTC006140	BIRLA FURUKAWA FIBRE OPTICS Private Limited	Director	23-07-2009	23-07-2009	-	Active	NO
7	L31300MP1945PLC001114	UNIVERSAL CABLES LIMITED	Director	28-06-2012	05-05-2012	-	Active	NO
8	U31300MP1989PTC005550	UNIVERSAL ELECTRICALS PRIVATE LIMITED	Director	12-08-2014	19-05-2014	-	Active	NO

Name :

Mr. Kailash Chand Mittal

Designation :

Director

Address :

Challenger Tower-1, Flat No 1903-04, Thakur Village, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

23.05.1938

Date of Appointment :

03.12.2013

DIN No.:

00049841

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	Company/ LLP Status	Defaulting status
1	U67200MH2003PTC143312	JLT INDEPENDENT INSURANCE BROKERS PRIVATE LIMITED	Director	11-12-2009	11-12-2009	Active	NO
2	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	03-12-2013	03-12-2013	Active	NO

Name :

Mr. Hans Ulrich Bohi

Designation :

Director

Address :

Sehlossshalds, Burglen 8575, Burglen, Switzerland

Date of Birth/Age :

28.11.1924

Date of Appointment :

01.06.1972

DIN No.:

00225333

Name :

Mr. Harbans Lal Chawla

Designation :

Alternative Director

Address :

B-1/318, Janakpuri, New Delhi - 110058, India

Date of Birth/Age :

31.08.1933

Qualification :

MA

Date of Appointment :

10.11.2011

DIN No.:

00251164

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	Company/ LLP Status	Defaulting status
1	U67120DL2004PTC128499	SAVVY SHARES TRADERS PRIVATE LIMITED	Director	20-08-2004	20-08-2004	Active	NO
2	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Alternate director	10-11-2011	30-09-2006	Active	NO

Name :

Michel Maurice Ybert

Designation :

Director

Address :

16, Ridley Park, Singapore, 248488, Singapore

Date of Birth/Age :

19.01.1951

Qualification :

HEC Graduate

Date of Appointment :

12.11.2003

DIN No. :

00319148

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	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	12-11-2003	12-11-2003	-	Active	NO
2	U24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Director	13-02-2004	13-02-2004	-	Active	NO
3	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	23-08-2013	27-12-2012	14-11-2014	Active	NO

Name :

Mr. Harsh Vardhan Lodha

Designation :

Director

Address :

8, National Tower, 13, Loudon Street, Kolkata - 700017, West Bengal, India

Date of Birth/Age :

13.02.1967

Qualification :

CA

Date of Appointment :

05.05.2004

DIN No.:

00394094

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	L74999WB1919PLC003516	ALFRED HERBERT (INDIA) LTD	Director	20-09-1990	20-09-1990	-	Active	NO
2	U21012DL1990PTC102759	SICPA INDIA PRIVATE LIMITED	Director	11-03-1994	11-03-1994	-	Active	NO
3	L26942OR1949PLC000185	OCL INDIA LIMITED	Director	26-02-1996	26-02-1996	12-05-2008	Active	NO
4	U25199TN1955PLC000740	FENNER (INDIA) LIMITED	Director	18-03-1996	18-03-1996	-	Amalgamated	NO
5	U65999WB1995PTC068123	SWISS INDIA FINANCIAL SERVICES COMPANY PRIVATE LIMITED	Director	21-03-1996	21-03-1996	-	Active	NO
6	L01132WB1919PLC003334	BIRLA CORPORATION LIMITED	Director	23-04-1996	23-04-1996	-	Active	NO
7	U68192WB1983PLC036273	MANORAJ INVESTMENT LIMITED	Alternate director	20-05-1996	20-05-1996	28-02-2012	Active	NO
8	L31300MP1945PLC001114	UNIVERSAL CABLES LIMITED	Director	24-04-1998	24-04-1998	-	Active	NO
9	U74140WB1981PLC033942	ELCO CONSULTANTS LIMITED	Alternate director	09-01-2001	09-01-2001	19-09-2014	Active	NO
10	U29261WB1982PLC034537	CITY CONSULTANTS LIMITED	Alternate director	09-02-2001	09-02-2001	19-09-2014	Active	NO
11	U74140WB1983PLC036275	ADVANCE BUSINESS SERVICES LIMITED	Alternate director	16-02-2001	16-02-2001	19-09-2014	Active	NO
12	U24114WB1982PLC034581	HARSH CHEMICALS LIMITED	Alternate director	16-02-2001	16-02-2001	06-10-2014	Active	NO
13	U74140WB1983PLC036276	CENTRAL BUSINESS SERVICES LIMITED	Alternate director	16-02-2001	16-02-2001	19-09-2014	Active	NO
14	U70109WB1995PLC074449	PUNJAB PRODUCE HOLDINGS LIMITED	Director	08-04-2004	08-04-2004	-	Active	NO
15	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	05-05-2004	05-05-2004	-	Active	NO
16	L31300MP1983PLC002134	VINDHYA TELELINKS LIMITED	Director	05-05-2004	05-05-2004	-	Active	NO
17	U70200WB1995PTC074504	MAZBAT PROPERTIES PRIVATE LIMITED	Director	14-06-2004	14-06-2004	-	Active	NO
18	U67120WB1995PTC074450	MAZBAT INVESTMENTS PRIVATE LIMITED	Director	14-06-2004	14-06-2004	-	Active	NO
19	U51109WB1942PTC075039	BARODA AGENTS AND TRADING CO. PRIVATE LIMITED	Director	15-06-2004	15-06-2004	-	Active	NO
20	U74999WB1937PTC025402	THE PUNJAB PRODUCE AND TRADING CO. PRIVATE LIMITED	Director	15-06-2004	15-06-2004	-	Active	NO
21	U28939WB1942PTC025403	GWALIOR WEBBING CO. PRIVATE LIMITED	Director	15-06-2004	15-06-2004	-	Active	NO
22	U65993WB1951PTC019688	EAST INDIA INVESTMENT CO PRIVATE LIMITED	Director	15-06-2004	15-06-2004	-	Active	NO
23	U24134DL2007PTC159596	HITEK DERIVATIVES AND POLYMERS PRIVATE LIMITED	Director	22-02-2007	22-02-2007	03-03-2008	Active	NO
24	U31300UP1987PTC008657	UNIVERSAL TELELINKS PRIVATE LIMITED	Director	31-07-2007	16-06-2007	25-09-2014	Active	NO
25	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Director	27-12-2007	18-10-2007	-	Active	NO
26	L31300MP1992PLC007190	BIRLA ERICSSON OPTICAL LIMITED	Director	29-10-2007	29-10-2007	-	Active	NO
27	U85300WB1926GAP005585	INDIAN CHAMBER OF COMMERCE CALCUTTA	Director	02-08-2014	30-06-2008	-	Active	NO
28	U74140WB2001PTC093908	ONEWORLD RESOURCES PRIVATE LIMITED	Director	29-09-2009	17-10-2008	-	Active	NO
29	U33200GA2009PTC006140	BIRLA FURUKAWA FIBRE OPTICS PRIVATE LIMITED	Director	23-07-2009	23-07-2009	-	Active	NO
30	AAC-2063	LA CREME DE LA CREME SERVICES LLP	Designated Partner	24-03-2014	24-03-2014	-	Active	NO

Name :

Mr. Mohammed Hossain Beyad

Designation :

Director

Address :

259, Prospect Plains Road, Cranbury NJ 08512, USA

Date of Birth/Age :

28.11.1950

Qualification :

PHD Chemical Technology

Date of Appointment :

13.06.2007

DIN No.:

00897567

Name :

Mr. Shashank Madan Mohan

Designation :

Director

Address :

C-14, IFS Apartments, Mayur Vihar, Phase 1, Delhi, India

Date of Birth/Age :

27.07.1944

Qualification :

MSC Physics

Date of Appointment :

13.06.2007

DIN No.:

01569514

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	Company/ LLP Status	Defaulting status
1	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	13-06-2007	13-06-2007	Active	NO
2	L74899DL1987PLC026607	BHARTIYA INTERNATIONAL LIMITED	Director	08-09-2014	30-07-2007	Active	NO
3	U74140DL2007PTC171354	UTOPIA MANAGEMENT SERVICES (INDIA) PRIVATE LIMITED	Director	30-09-2008	13-12-2007	Active	NO

Name :

Mr. Ian Edward Brown

Designation :

Director

Address :

6, Green Lane Grove, Singapore

Date of Birth/Age :

19.05.1961

ACMA

Date of Appointment :

12.02.2014

DIN No.:

02427816

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	Company/ LLP Status	Defaulting status
1	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Alternate director	12-02-2014	21-11-2008	Active	NO
2	U24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Director	30-01-2009	30-01-2009	Active	NO
3	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	23-08-2013	27-12-2012	Active	NO

Name :

Mr. Prakash Raman

Designation :

Alternate Director

Address :

Sowdhagya 13/2 Old No 1094th Street, Karpagam Avenue, Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

19.07.1971

Qualification :

BE Chemicals and MBA

Date of Appointment :

20.02.2013

DIN No.:

02596690

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	Company/ LLP Status	Defaulting status
1	U74130GJ2005PTC062544	SOLVAY SPECIALITIES INDIA PRIVATE LIMITED	Managing director	01-04-2009	01-04-2009	Active	NO
2	U24120TG2001PTC036807	SOLVAY VISHNU BARIUM PRIVATE LIMITED	Director	14-09-2012	14-09-2012	Active	NO
3	U24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Director	23-08-2013	13-02-2013	Active	NO
4	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Alternate director	20-02-2013	20-02-2013	Active	NO

Name :

Mr. Oliver Stephen Hufer

Designation :

Alternate Director

Address :

Krumme Laenge, 15, Bizen, 79589, Germany

Date of Birth/Age :

17.05.1968

Qualification :

Bechlor Degree in Economics

Date of Appointment :

14.06.2010

DIN No.:

03100056

Name :

Mr. Pu Chen

Designation :

Director

Address :

51, Hillview Avenue, 07-02, 669565, Singapore

Date of Birth/Age :

10.06.1963

Qualification :

Post Graduate (Chemistry), MBA

Date of Appointment :

12.02.2014

DIN No.:

02427677

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	Company/ LLP Status	Defaulting status
1	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	12-02-2014	21-11-2008	Active	NO
2	U24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Alternate director	13-02-2013	26-03-2009	Active	NO
3	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Alternate director	13-02-2013	13-02-2013	Active	NO

Name :

Mr. Manoj Khullar

Designation :

Alternate Director

Address :

B-171, Ramprastha, Ghaziabad - 201011, Uttarpradesh, India

Date of Birth/Age :

21.11.1970

Qualification :

Master of Buss. Administration and Chemical Engg

Date of Appointment :

20.02.2013

DIN No.:

06415392

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	Company/ LLP Status	Defaulting status
1	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	23-08-2013	27-12-2012	Active	NO
2	U24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Managing director	01-01-2013	01-01-2013	Active	NO
3	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Alternate director	20-02-2013	20-02-2013	Active	NO

Name :

Mr. Pierre Franck Marie Yves Valentin

Designation :

Director

Address :

62 Trevose Crescent 02-01, Trevose Park, 298063, Singapore

Date of Birth/Age :

29.06.1965

Qualification :

M.S.

Date of Appointment :

23.08.2013

DIN No.:

06450747

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	Company/ LLP Status	Defaulting status
1	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	23-08-2013	27-12-2012	Active	NO
2	U24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Director	23-08-2013	13-02-2013	Active	NO
3	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	20-02-2013	20-02-2013	Active	NO

Name :

Mr. Oliver Touret

Designation :

Director

Address :

17, Gorden Way NJ Prinction, 08540, USA

Date of Birth/Age :

25.05.1961

Qualification :

PHD in Chemistry

Date of Appointment :

20.02.2013

DIN No.:

06478594

Name :

Mr. Brian Lewis Downward

Designation :

Director

Address :

Brtony, Chapel Close, Leigh Sint On, Malvern, WR 13, 52131, UK

Date of Birth/Age :

28.06.1959

Qualification :

BSc (H) combined Science

Date of Appointment :

20.02.2013

DIN No.:

06499525

KEY EXECUTIVES

Name :	Mr. J. K. Soni
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 01.09.2014

Names of Shareholders	No. of Shares
Solvay India Holding Inc., U.S.A	450000
Gwalior Webbing Company Private Limited, India	90000
The Punjab Produce and Trading Company Private Limited, India	90000
Baroda Agents and Trading Company Private Limited, India	90000
Eastern India Educational Institution, India	179396
Eastern India Educational Institution, India Having Jt. A/C. Shivnath Prasad	300
Eastern India Educational Institution, India Having Jt. A/C. Dau Lal Rathi	300
Eastern India Educational Institution, India Having Jt. A/C. Sushil Kumar Daga	1
Eastern India Educational Institution, India Having Jt. A/C H. V. Lodha	1
Eastern India Educational Institution, India Having Jt. A/C V. K. Sharda	1
Eastern India Educational Institution, India Having Jt. A/C Ashok Devpura	1
Total	900000

As on 01.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	30.00
Other top fifty shareholders	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of "GUAR GUM".

Products :

Item Code No. (ITC Code)	Product Description
13023230	Guar Gum Powder

Brand Names :

"HIGUM"

Agencies Held :

--

Exports :

--

Imports :

--

Terms :

--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

· Citibank N.A, DLF Square, M Block, Jacaranda Marg, DLF City Phase - II, Gurgaon - 122002, Haryana, India

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

· BNP Paribas, 1^st Floor, East Towers (Sood Towers), 25, Barakhamba Road, New Delhi - 110001, Delhi, India

· State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, Delhi, India

· UCO Bank

· Punjab National Bank

· AXIS Bank Limited

· IDBI Bank Limited

· Bank of Baroda

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Loans repayable on demand from banks (Loans from Banks are secured by hypothecation of Inventories and Book Debts.)	844.354	2260.160
Total	844.354	2260.160

Banking Relations :	--
Auditors :
Name :	Singhi and Company Chartered Accountants
Address :	401-408, Pragati House 47-48, Nehru Place, New Delhi – 110019, India
Income-tax PAN of auditor or auditor's firm :	AAQFS6429R
Memberships :	--
Collaborators :	--
Associates :	· Rhodia India Holding Inc. · Rhodia Feixing Speciality Chemicals Co. Limited · Rhodia Operations · Utexam Logestics Limited On Behalf of Rhodia Inc.

CAPITAL STRUCTURE

As on 01.09.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
900,000	Equity Shares	Rs.10/- each	Rs. 9.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	9.000	9.000	9.000
(b) Reserves & Surplus	17882.393	6539.017	1955.501
(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)	17891.393	6548.017	1964.501
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	75.962	54.302	36.334
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	29.026	27.729	23.047
Total Non-current Liabilities (3)	104.988	82.031	59.381
(4) Current Liabilities
(a) Short term borrowings	903.006	3570.501	1362.273
(b) Trade payables	310.284	262.136	225.693
(c) Other current liabilities	189.416	282.649	126.825
(d) Short-term provisions	5188.990	2511.771	198.436
Total Current Liabilities (4)	6591.696	6627.057	1913.227
TOTAL	24588.077	13257.105	3937.109
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	866.067	706.374	441.650
(ii) Intangible Assets	0.000	0.000	2.640
(iii) Capital work-in-progress	223.197	42.325	26.130
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1864.378	4.378	4.378
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	92.309	61.840	54.464
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3045.951	814.917	529.262
(2) Current assets
(a) Current investments	13387.195	0.000	0.003
(b) Inventories	2187.669	9932.399	1724.378
(c) Trade receivables	2749.840	1271.343	1408.137
(d) Cash and cash equivalents	2403.291	9.225	8.330
(e) Short-term loans and advances	452.318	563.434	30.968
(f) Other current assets	361.813	665.787	236.031
Total Current Assets	21542.126	12442.188	3407.847
TOTAL	24588.077	13257.105	3937.109

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	47436.742	28880.387	7747.332
		Other Income	1045.915	61.903	20.261
		TOTAL (A)	48482.657	28942.290	7767.593
Less	EXPENSES
		Cost of Materials Consumed	20794.407	19765.912	5563.774
		Purchases of Stock-in-Trade	15.937	18.479	363.395
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	2166.271	(3290.899)	(319.665)
		Employees benefits expense	210.170	185.648	126.126
		Other expenses	1282.905	2073.896	1233.744
		Prior Period Items	0.000	0.163	0.000
		TOTAL (B)	24469.690	18753.199	6967.374
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		24012.967	10189.091	800.219
Less	FINANCIAL EXPENSES (D)		169.344	167.724	47.161
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		23843.623	10021.367	753.058
Less/ Add	DEPRECIATION/ AMORTISATION (F)		112.754	81.230	55.270
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		23730.869	9940.137	697.788
Less	TAX (H)		7521.660	3212.065	144.660
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		16209.209	6728.072	553.128
	EARNINGS IN FOREIGN CURRENCY		44680.529	25959.924	6260.430
	IMPORTS
		Raw Materials	0.969	12.763	20.561
		Components and Spare Parts	0.130	8.439	4.897
		Capital Goods	6.117	1.580	4.520
	TOTAL IMPORTS		7.216	22.782	29.978
	Earnings / (Loss) Per Share (Rs.)		18010.00	7476.00	615.00

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	34.17	23.30	7.14
Operating Profit Margin (PBDIT/Sales)	(%)	50.62	35.28	10.33
Return on Total Assets (PBT/Total Assets}	(%)	105.47	75.24	17.86
Return on Investment (ROI) (PBT/Networth)		1.33	1.52	0.36
Debt Equity Ratio (Total Debt/Networth)		0.05	0.55	0.69
Current Ratio (Current Asset/Current Liability)		3.27	1.88	1.78

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	9.000	9.000	9.000
Reserves & Surplus	1955.501	6539.017	17882.393
Net worth	1964.501	6548.017	17891.393
long-term borrowings	0.000	0.000	0.000
Short term borrowings	1362.273	3570.501	903.006
Total borrowings	1362.273	3570.501	903.006
Debt/Equity ratio	0.693	0.545	0.050

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	7747.332	28880.387	47436.742
		272.778	64.252

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	7747.332	28880.387	47436.742
Profit	553.128	6728.072	16209.209
	7.14%	23.30%	34.17%

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	Yes
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	No
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10453361	18/09/2013	350,000,000.00	CITIBANK N.A	DLF SQUARE, M BLOCK, JACARANDA MARG, DLF CITY PHASE - II, GURGAON, HARYANA - 122002, INDIA	B86794120
2	10314819	09/09/2011	850,000,000.00	AXIS BANK LTD.	4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA	B24171514
3	10285776	06/03/2012 *	650,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B36416600
4	10126450	23/09/2008	45,000,000.00	PUNJAB NATIONAL BANK	IBB BRANCH, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A48527535
5	10115120	12/12/2011 *	685,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	B31486269
6	80062315	27/12/2011 *	600,000,000.00	BNP PARIBAS	1ST FLOOR, EAST TOWERS (SOOD TOWERS), 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B29382942
7	80027070	10/09/2011 *	765,000,000.00	UCO BANK	CIRCULAR ROAD, OPP. NEHRU PARK, BHIWANI, HARYANA - 127021, INDIA	B24087157
8	80027155	19/04/1979	28,500,000.00	UCO BANK	GHANTA GHAR, BHIWANI, HARYANA - 127021, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Loans repayable on demand from banks	58.652	995.341
Total	58.652	995.341

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Livestock

· Railway Sidings

Intangible Assets

· Computer Software

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.61.61
UK Pound	1	Rs.93.49
Euro	1	Rs.71.38

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		66

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.