MIRA INFORM REPORT

Report No. :	321567
Report Date :	01.06.2015

IDENTIFICATION DETAILS

Name :	ANMOL CHEMICALS (GUJARAT) PRIVATE LIMITED
Registered Office :	A-2/4006, G I D C Industrial Area, Ankleshwar - 393002, Gujarat
Tel. No.:	91-22-28483558
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.03.1980
Com. Reg. No.:	04-003704
Capital Investment / Paid-up Capital :	Rs. 4.500 Million
CIN No.: [Company Identification No.]	U24299GJ1980PTC003704
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 Exporter of Dyes and Dyes Intermediates Like Coolant Dyes, Solvent Dyes, Coolant Liquids and Acid Dyes.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 32000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealing at usual business 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Ajit Nair
Designation :	Director
Contact No.:	91-9820543368
Date :	08.05.2015

LOCATIONS

Registered Office / Factory :	A-2/4006, G I D C Industrial Area, Ankleshwar - 393002, Gujarat,India
Tel. No.:	Not Available
Mobile No.:	91-98205443368 (Mr. Ajit Nair)
Fax No.:	Not Available
E-Mail :	mail@anmolchemicals.com ajitnair@anmolchemical.com
Corporate Office :	Unit No. 303, Raghuvir Tower, Chamunda Circle, S.V. Road, Borivali (West), Mumbai – 400092, Maharashtra, India
Tel. No.:	91-22-28913342
Fax No.:	91-22-28913342

DIRECTORS

As on : 30.09.2014

Name :

Mr. Hemant Sakharam Sunthankar

Designation :

Director

Address :

A-4/203, Oxford Village Wannawadi, Pune – 411040, Maharashtra, India

Date of Birth/Age :

06.04.1957

Date of Appointment :

21.08.1996

DIN No.:

00913156

Name :

Mr. Ajit Ramchandran Nair

Designation :

Director

Address :

Flat No. 101, Nirmals Nest CHS, Vayudevta, Mandir Comp, Devidas Lane, Borivali (West), Mumbai – 400103, Maharashtra, India

Date of Birth/Age :

25.04.1984

Date of Appointment :

16.03.2009

DIN No.:

02524562

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	U24299GJ1980PTC003704	ANMOL CHEMICALS (GUJARAT) PVT LTD	Director	16/03/2009	16/03/2009	-	Active	NO
2	U15400MH2011PTC224941	RNV FOODS PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO
3	U15400MH2012PTC227493	ANNAPOORNESHWARI FOODS PRIVATE LIMITED	Director	29/02/2012	29/02/2012	-	Active	NO

Name :

Mr. Anand Ramchandran Nair

Designation :

Director

Address :

Flat No. 101, Nirmals Nest CHS, Vayudevta, Mandir Comp, Devidas Lane, Borivali (West), Mumbai – 400103, Maharashtra, India

Date of Birth/Age :

16.01.1983

Date of Appointment :

16.03.2009

DIN No.:

02524564

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	U24299GJ1980PTC003704	ANMOL CHEMICALS (GUJARAT) PVT LTD	Director	16/03/2009	16/03/2009	-	Active	NO
2	U15400MH2011PTC224941	RNV FOODS PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO
3	U15400MH2012PTC227493	ANNAPOORNESHWARI FOODS PRIVATE LIMITED	Director	29/02/2012	29/02/2012	-	Active	NO

Name :

Mr. Sankarnarayanan Krishnan Nambiar

Designation :

Director

Address :

Aff 8, Jalkamal Society No – 02, Near Sardarpark Shopping Complex, GIDC Ankleshwar – 393002, Gujarat, India

Date of Birth/Age :

26.04.1951

Date of Appointment :

01.11.2010

DIN No.:

03126286

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Ajit Ramchandran Nair	144336	32.07
Anand Ramchandran Nair	132000	29.33
Hemant Sakharam Sunthankar	119394	26.53
Sankarnarayanan Krishnan Nambiar	54270	12.06
Total	450000	100.00

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Dyes and Dyes Intermediates Like Coolant Dyes, Solvent Dyes, Coolant Liquids and Acid Dyes.
Products :	· Solvent Green 3 · Solvent Orange 2 · Solvent Orange 7 · Solvent Red 1 · Solvent Red 23 · Solvent Red 24 · Solvent Red 27 · Solvent Red 43 · Solvent Yellow 14 · Acid Red 87 and etc.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	· Dyes · Coolant Dyes · Solvent Dyes · Coolant Liquids · Acid Dyes
Countries :	· US · UK · Europe
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
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 :

Reference :	Not Divulged
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 :

50 (Approximately)

Bankers :

Bank Name	Axis Bank Limited
Branch	Yoginagar, Borivali, Mumbai, Maharashtra, 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)	OD Rs. 10.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From South India Banks (Over Draft)
Secured Considered Good (Hypothecation of Stock and Book Debts)	6.146	3.937
Secured Considered Good (Hypothecation of Machinery and Factory Land)	0.929	0.000
Total	7.075	3.937

Auditors :
Name :	K L Parmar Chartered Accountant
Address :	301, Saideep Apartment, J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-28202606 / 28210999 /
Fax No.:	91-22-28202605
E-Mail :	klp@caklparmar.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAFPP7308D
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs.10/- each	Rs. 4.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs.10/- each	Rs. 4.500 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	4.500	4.500	3.957
(b) Reserves & Surplus	6.849	4.020	2.002
(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)	11.349	8.520	5.959
(3) Non-Current Liabilities
(a) long-term borrowings	8.070	4.844	3.849
(b) Deferred tax liabilities (Net)	0.144	0.131	0.134
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	8.214	4.975	3.983
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	9.938	5.118	4.832
(c) Other current liabilities	0.409	0.369	0.433
(d) Short-term provisions	4.114	2.466	1.401
Total Current Liabilities (4)	14.461	7.953	6.666
TOTAL	34.024	21.448	16.608
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.134	3.060	3.216
(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	0.003	0.003	0.003
(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	5.137	3.063	3.219
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.128	5.676	2.383
(c) Trade receivables	7.048	4.621	5.381
(d) Cash and cash equivalents	0.359	0.171	0.197
(e) Short-term loans and advances	11.211	7.808	5.340
(f) Other current assets	0.141	0.109	0.088
Total Current Assets	28.887	18.385	13.389
TOTAL	34.024	21.448	16.608

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	55.000 (Approximately)
		Other Income
		TOTAL	NA	38.827	33.471
Less	EXPENSES
		TOTAL	NA	35.528	30.823
	PROFIT BEFORE TAX		NA	2.927	2.648
Less	TAX		NA	0.939	0.789
	PROFIT AFTER TAX		2.828	1.988	1.859
	Earnings Per Share (Rs.)		6.28	4.12	4.13

Particulars	31.03.2015
Sales Turnover (Approximately)	70.000

The above information has been parted by Mr. Ajit Nair (Director).

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	NA	13.65	15.95
Return on Investment (ROI) (PBT/Networth)		NA	0.34	0.44
Debt Equity Ratio (Total Debt /Networth)		0.71	0.57	0.65
Current Ratio (Current Asset/Current Liability)		2.00	2.31	2.01

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	3.957	4.500	4.500
Reserves & Surplus	2.002	4.020	6.849
Share Application money pending allotment	0.000	0.000	0.000
Net worth	5.959	8.520	11.349
long-term borrowings	3.849	4.844	8.070
Short term borrowings	0.000	0.000	0.000
Total borrowings	3.849	4.844	8.070
Debt/Equity ratio	0.646	0.569	0.711

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	No
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	No
18	Major suppliers	No
19	Major customers	No
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 three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans from Directors	0.995	0.707
Other Loans and Advances (From Shareholders)	0.000	0.200
Total	0.995	0.907

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10569982	11/03/2015	10,804,000.00	AXIS BANK LIMITED	TRISUL, 3RD FLOOR,OPPOSITE SAMATHESHWARTEMPLE,, L AW GARDEN,ELLIS BRIDGEAHMEDABAD, AHMEDABAD, GUJARA T - 380006, INDIA	C53927281
2	10538833	20/10/2014	10,804,000.00	AXIS BANK LIMITED	TRIMURTI KRUPA CHS,GR.FLOOR, SHOP NO 4, 5,7 & 8, EKSAR ROAD, JUNCTION OF YOGINAGAR, BORIVALI (W), M UMBAI, MAHARASHTRA - 400092, INDIA	C38200010
3	10465033	23/11/2013	1,025,000.00	THE SOUTH INDIAN BANK LIMITED	BORIVALI (W) BRANCH, MEHTA APARTMENTS, TULSI BAUG, S V P ROAD, BORIVALI (WEST), MUMBAI, MAHARASHTR A - 400103, INDIA	B91482729
4	90110182	08/08/2000	198,900.00	THE SOUTH INDIAN BANK LTD	ULSI BAUGH; S. V. P. ROAD, BAROVALI (W), MUMBAI, GUJARAT - 400103, INDIA	-
5	90107804	30/03/2013 *	6,500,000.00	THE SOUTH INDIAN BANK LIMITED	BORIVALI (WEST) BRANCH, TULSI BAUG, S V P ROAD, BORIVALI (WEST), MUMBAI, MAHARASHTRA - 400103, IND IA	B72323314
6	90110120	31/03/2000	1,500,000.00	THE SOUTH INDIAN BANK LTD	ULSI BAUGH; S. V. P. ROAD, BAROVALI (W), MUMBAI, GUJARAT - 400103, INDIA	-

FIXED ASSETS

· C.N.G Kits

· Computer

· Electrical Installation

· Factory Shed

· Furniture and Fixtures

· Laboratory Equipment

· Lease Hold Land

· Motor Cycle

· Office Building

· Plant and Machinery

· Weighing Machinery

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. 63.76
UK Pound	1	Rs. 97.79
Euro	1	Rs. 69.90

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SAN
Report Prepared by :	KVT

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	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.