MIRA INFORM REPORT

Report No. :	334133
Report Date :	31.07.2015

IDENTIFICATION DETAILS

Name :	K V AROMATICS PRIVATE LIMITED
Registered Office :	R-289C, Greater Kailash-I, New Delhi – 110048
Tel. No.:	91-11-26464793
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.05.2005
Com. Reg. No.:	55-135756
Capital Investment / Paid-up Capital :	Rs.139.400 Million
CIN No.: [Company Identification No.]	U72200DL2005PTC135756
IEC No.:	0506081028
TAN No.: [Tax Deduction & Collection Account No.]	DELJ06831G
PAN No.: [Permanent Account No.]	AABCJ5718J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of essential oil, corn mint oil, menthol oil etc.
No. of Employees :	Information declined by the management / (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 2000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 2005 having a satisfactory track record. Profit of the company has declined during FY 2014. However, networth position of the company is sound. General financial position of the company is good. Further the rating also takes into consideration favorable gap between trade payable and trade receivable. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. In view of sound financial base, 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	CRISIL
Rating	Long term bank facilities= BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	20.07.2015

Rating Agency Name	CRISIL
Rating	Bank Guarantee= A2
Rating Explanation	Strong degree of safety and low credit risk.
Date	20.07.2015

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Manoj Kumar
Designation :	Finance Manager
Contact No.:	91-9811398861
Date :	30.07.2015

LOCATIONS

Registered Office :	R-289C, Greater Kailash-I, New Delhi – 110048, India
Tel. No.:	91-11-26464793
Mobile No.:	91-9811398861 (Mr. Manoj)
Fax No.:	Not Available
E-Mail :	info@kvaromatics.com
Website :	www.kvaromatics.com
Head Office :	D-212 to 215, EPIP Site-V, Kansa, Greater Noida – 201306, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Himanshu Agarwal

Designation :

Director

Address :

Sunaro Gali, Moh-Ther, Sambhal – 244302, Uttar Pradesh, India

Date of Birth/Age :

15.07.1973

Date of Appointment :

11.01.2007

PAN No.:

ABYPA8603N

DIN No.:

01279331

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	U24293UP2006PTC032549	SIDDHANT AROMAS PRIVATE LIMITED	Director	22/11/2006	22/11/2006	-	Strike off	NO
2	U72200DL2005PTC135756	K V AROMATICS PRIVATE LIMITED	Director	11/01/2007	11/01/2007	-	Active	NO
3	U70102DL2012PTC241987	K V DEVELOPERS PRIVATE LIMITED	Director	11/09/2012	11/09/2012	-	Active	NO
4	U70100DL2012PTC243813	ARHAN INFRATECH PRIVATE LIMITED	Director	18/10/2012	18/10/2012	-	Active	NO
5	U24100DL2014PTC263567	K V GLOBAL PRIVATE LIMITED	Director	15/01/2014	15/01/2014	-	Active	NO
6	AAA-9198	K V BUILDESTATE LLP	Designated Partner	14/05/2012	14/05/2012	-	Active	NO

Name :

Mr. Sudhanshu Agarwal

Designation :

Director

Address :

Mohalla Ther, Sambhal – 244302, Uttar Pradesh, India

Date of Birth/Age :

06.01.1971

Date of Appointment :

11.01.2007

PAN No.:

ABYPA8604M

DIN No.:

00682794

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	U24293UP2006PTC032549	SIDDHANT AROMAS PRIVATE LIMITED	Director	22/11/2006	22/11/2006	-	Strike off	NO
2	U72200DL2005PTC135756	K V AROMATICS PRIVATE LIMITED	Director	11/01/2007	11/01/2007	-	Active	NO
3	U70102DL2012PTC241987	K V DEVELOPERS PRIVATE LIMITED	Director	11/09/2012	11/09/2012	-	Active	NO
4	U70100DL2012PTC243813	ARHAN INFRATECH PRIVATE LIMITED	Director	18/10/2012	18/10/2012	-	Active	NO
5	U24100DL2014PTC263567	K V GLOBAL PRIVATE LIMITED	Director	15/01/2014	15/01/2014	-	Active	NO
6	U74999DL2015PTC277734	KV FILMS AND MEDIA PRIVATE LIMITED	Director	10/03/2015	10/03/2015	-	Active	NO
7	U74140DL2015NPL279490	K V GROUP FOUNDATION	Director	24/04/2015	24/04/2015	-	Active	NO
8	AAA-9198	K V BUILDESTATE LLP	Designated Partner	14/05/2012	14/05/2012	-	Active	NO

Name :

Mr. Aman Agarwal

Designation :

Director

Address :

Ther Near Jain Mandir, Sambhal, Moradabad – 244302, Uttar Pradesh, India

Date of Birth/Age :

08.11.1984

Date of Appointment :

30.09.2011

PAN No.:

AGJPA7119D

DIN No.:

03470240

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	U72200DL2005PTC135756	K V AROMATICS PRIVATE LIMITED	Director	30/09/2011	15/03/2011	-	Active	NO
2	U70102DL2012PTC241987	K V DEVELOPERS PRIVATE LIMITED	Director	11/09/2012	11/09/2012	-	Active	NO
3	U70100DL2012PTC243813	ARHAN INFRATECH PRIVATE LIMITED	Director	18/10/2012	18/10/2012	-	Active	NO
4	U24100DL2014PTC263567	K V GLOBAL PRIVATE LIMITED	Additional director	31/01/2014	31/01/2014	-	Active	NO
5	AAA-9198	K V BUILDESTATE LLP	Designated Partner	14/05/2012	14/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj Kumar
Designation :	Finance Manager

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Himanshu Agarwal	4728750
Sudhanshu Agarwal	4728750
Aman Agarwal	4199250

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of essential oil, corn mint oil, menthol oil etc.
Products :	Essential Oil Corn Mint Oil Menthol Oil
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	China USA European Countries
Imports :	Not Divulged
Terms :
Selling :	L/C, Cash, Credit
Purchasing :	L/C, Cash, Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Farmer
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Dabur India Limited – Delhi
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

350 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch :	Connaught Place, New 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Rupee term loans from banks	0.692	0.000
Term loans from others	0.831	0.762
Short Term Borrowings
Term loans from banks	0.876	0.000
Term loans from others	0.828	1.659
Working capital loans from banks	1485.574	871.584
Total	1488.801	874.005

Auditors :
Name :	S R Kapur and Company Chartered Accountants
Address :	R-289C, Greater Kailash-I, New Delhi – 110048, India
PAN No.:	AAAFS9078E
Memberships :	Not Divulged
Collaborators :	Not Divulged
Enterprises which are owned, or have significant influence of or are partners with Key Management personnel and their relatives :	Balaji Fire Wood K V Developers Private Limited K V Global Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
13940000	Equity Shares	Rs.10/- each	Rs.139.400 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	139.400	139.400	39.400
(b) Reserves & Surplus	572.250	452.397	276.349
(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)	711.650	591.797	315.749
(3) Non-Current Liabilities
(a) long-term borrowings	1.523	0.762	0.000
(b) Deferred tax liabilities (Net)	5.525	5.403	4.283
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.404	0.000	0.000
Total Non-current Liabilities (3)	7.452	6.165	4.283
(4) Current Liabilities
(a) Short term borrowings	1489.124	904.117	584.227
(b) Trade payables	1.173	1.087	2.841
(c) Other current liabilities	14.994	20.701	3.670
(d) Short-term provisions	0.045	2.724	0.272
Total Current Liabilities (4)	1505.336	928.629	591.010
TOTAL	2224.438	1526.591	911.042
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	182.708	188.651	153.098
(ii) Intangible Assets	0.087	0.146	0.002
(iii) Capital work-in-progress	6.409	0.874	3.863
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	189.204	189.671	156.963
(2) Current assets
(a) Current investments	0.000	0.000	105.106
(b) Inventories	1150.555	608.188	232.703
(c) Trade receivables	745.247	510.496	335.049
(d) Cash and cash equivalents	27.140	118.969	35.337
(e) Short-term loans and advances	8.594	12.542	43.288
(f) Other current assets	103.698	86.725	2.596
Total Current Assets	2035.234	1336.920	754.079
TOTAL	2224.438	1526.591	911.042

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES	5005.600	4545.300	2733.911
EXPENSES	NA	NA	NA
NET PROFIT	181.100	267.200	107.689

Particulars	31.03.2015
Sales Turnover (Approximately)	5360.000

Expected Sales (2015-2016): Rs.5700.000 Million

The above information has been parted by Mr. Manoj

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	2.09	1.53	1.85
Current Ratio (Current Asset/Current Liability)	1.35	1.44	1.28

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	39.400	139.400	139.400
Reserves & Surplus	276.349	452.397	572.250
Net worth	315.749	591.797	711.650
long-term borrowings	0.000	0.762	1.523
Short term borrowings	584.227	904.117	1489.124
Total borrowings	584.227	904.879	1490.647
Debt/Equity ratio	1.850	1.529	2.095

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	2733.911	4545.300	5005.600
		66.256	10.127

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	2733.911	4545.300	5005.600
Profit	107.689	267.200	181.100
	3.94%	5.88%	3.62%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last four years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Short Term Borrowings
Term loans from others	1.846	30.874
Total	1.846	30.874

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10493777	01/05/2014	2,565,000,000.00	State Bank of India ( Lead Bank) CB Connaught Place	Commercial Branch M-47 Connaught Circus, New Delhi, New Delhi, Delhi - 110001, India	C04374112

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Computer

· 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.64.01
UK Pound	1	Rs.99.83
Euro	1	Rs.70.07

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	NKT

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.