MIRA INFORM REPORT

Report No. :	327191
Report Date :	13.06.2015

IDENTIFICATION DETAILS

Name :	AWARD OFFSET PRINTERS AND PACKAGING PRIVATE LIMITED
Registered Office :	109, Adhyaru Industial Estate, Sun Mill Compound, Lower Parel, Mumbai – 400013, Maharashtra
Tel. No.:	91-22-43566653
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.10.1995
Com. Reg. No.:	11-093907
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U74900MH1995PTC093907
IEC No.:	0397073259
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACA5672M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of Printers and Packaging Material.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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	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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. D. R. Bhatt
Designation :	Accountant
Contact No.:	91-22-43566653
Date :	12.06.2015

LOCATIONS

Registered Office :	109, Adhyaru Industial Estate, Sun Mill Compound, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-43566653
Fax No.:	91-22-43566665
E-Mail :	award@awardoffset.com
Factory :	A-186 TTC Industrial Area MIDC Khairane, Navi Mumbai -400705, Maharashtra, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Rajesh Navnitlal Shah 

Designation :

Managing Director

Address :

61, Gurukrupa, 2nd Floor, 6th N. S. Road, JVPD Scheme, Vile Parle (West), Mumbai -400056, Maharashtra, India

Date of Birth/Age :

30.01.1959

Date of Appointment :

01.04.2014

DIN No.:

00032989

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	U74900MH1995PTC093907	AWARD OFFSET PRINTERS AND PACKAGING PRIVATE LIMITED	Managing director	01/04/2014	24/10/1995	-	Active	NO
2	U22200MH1971NPL015200	BOMBAY MASTER PRINTERS ASSOCIATION	Director	05/08/2006	05/08/2006	27/09/2012	Active	NO

Name :

Mr. Nitin Navnitlal Shah

Designation :

Managing Director

Address :

31, Devkrupa, Ground Floor, Flat No.2, N S Road No.2, JVPD Scheme, Vile Parle(W), Mumbai-400056, Maharashtra, India

Date of Birth/Age :

17.08.1964

Date of Appointment :

01.04.2014

DIN No.:

00033049

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	U74900MH1995PTC093907	AWARD OFFSET PRINTERS AND PACKAGING PRIVATE LIMITED	Managing director	01/04/2014	18/12/2000	-	Active	NO
2	U22200MH1971NPL015200	BOMBAY MASTER PRINTERS ASSOCIATION	Director	27/09/2012	27/09/2012	-	Active	NO

Name :

Mr. Krunal Rajesh Shah

Designation :

Whole-Time Director

Address :

J V P D Scheme .61 Gurukrupa ,2nd Floor, Flat No 5/6 6th N S Road, Vileparle (West), Mumbai-400056, Maharashtra, India

Date of Appointment :

01.12.2014

DIN No.:

07031783

KEY EXECUTIVES

Name :	Mr. D. R. Bhatt
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Rajesh Navnitlal Shah	350
Naina Navnitlal Shah	100
Nitin Navnitlal Shah	300
Bhavna Rajesh Shah	50
Nirali Nitin Shah	100
Krunal Rajesh Shah	50
Snehal Rajesh Shah	50
Total	1000

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, Importer and Exporter of Printers and Packaging Material.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Printer Packaging Materials
Countries :	Australia
Imports :	Not Divulged
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

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 :

70 (Approximately)

Bankers :

Bank Name	Kotak Mahindra Bank
Branch	Nepeam Sea Road Branch, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	B S Shah and Company Chartered Accountants
Address :	206, T V Industrial Estate, 248, S K Ahire Marg, Worli, Mumbai – 400030, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAITS0576M
Memberships :	--
Collaborators :	--
Significant Influence by KMP :	Taxfroms
Sister Concern :	Award Packaging, Lower Parel, Mumbai, Maharashtra, India

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000	Equity Shares	Rs.100/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,000	Equity Shares	Rs.100/- each	Rs. 0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	399.969	315.758	228.422
(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)	400.069	315.858	228.522
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	5.125	5.612	6.422
(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)	5.125	5.612	6.422
(4) Current Liabilities
(a) Short term borrowings	22.912	13.157	27.824
(b) Trade payables	36.521	39.106	36.988
(c) Other current liabilities	14.185	11.881	8.298
(d) Short-term provisions	0.363	0.267	3.127
Total Current Liabilities (4)	73.981	64.411	76.237
TOTAL	479.175	385.881	311.181
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	93.036	94.860	106.093
(ii) Intangible Assets	0.095	0.000	0.000
(iii) Capital work-in-progress	44.145	16.025	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	182.081	136.296	57.796
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.852	2.800	1.796
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	320.209	249.981	165.685
(2) Current assets
(a) Current investments	25.000	10.000	0.000
(b) Inventories	23.523	24.258	18.815
(c) Trade receivables	101.360	88.261	81.804
(d) Cash and cash equivalents	7.774	11.548	41.970
(e) Short-term loans and advances	0.521	1.113	1.609
(f) Other current assets	0.788	0.720	1.298
Total Current Assets	158.966	135.900	145.496
TOTAL	479.175	385.881	311.181

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operation	471.578	432.056	391.977
		Other Income	10.506	8.760	5.562
		TOTAL (A)	482.084	440.816	397.539
Less	EXPENSES
		TOTAL (B)	340.983	295.808	267.518
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		141.101	145.008	130.021
Less	FINANCIAL EXPENSES (D)		3.013	2.799	4.564
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		138.088	142.209	125.457
Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.584	12.799	14.302
	PROFIT BEFORE TAX (E-F) (G)		126.504	129.410	111.155
Less	TAX (H)		42.292	42.074	36.352
	PROFIT AFTER TAX (G-H) (I)		84.212	87.336	74.803
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	5.212	4.611	NA
	IMPORTS
		Raw Materials	240.551	215.229	NA
		Stores & Spares	12.082	9.547	NA
	TOTAL IMPORTS		252.633	224.776	NA
	Earnings Per Share (Rs.)		84212.00	87336.00	74803.00

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
Net Profit Margin (PAT / Sales)	(%)	17.86	20.21	19.08
Operating Profit Margin (PBIDT/Sales)	(%)	29.92	33.56	33.17
Return on Total Assets (PBT/Total Assets}	(%)	50.01	55.41	43.87
Return on Investment (ROI) (PBT/Networth)		0.32	0.41	0.49
Debt Equity Ratio (Total Debt /Networth)		0.06	0.04	0.12
Current Ratio (Current Asset/Current Liability)		2.15	2.11	1.91

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	0.100	0.100	0.100
Reserves & Surplus	228.422	315.758	399.969
Net worth	228.522	315.858	400.069
long-term borrowings	0.000	0.000	0.000
Short term borrowings	27.824	13.157	22.912
Total borrowings	27.824	13.157	22.912
Debt/Equity ratio	0.122	0.042	0.057

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)
Revenue from Operation	391.977	432.056	471.578
		10.225	9.147

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operation	391.977	432.056	471.578
Profit	74.803	87.336	84.212
	19.08%	20.21%	17.86%

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	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans from director and their Relatives	22.912	13.157
Total	22.912	13.157

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Land
• Building
• Plant and machinery
• Electrical installation
• Furniture and fixture
• Office equipment
• Computers
• Vehicle

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.64.03
UK Pound	1	Rs.99.27
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	RKH
Analysis Done by :	KAR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		54

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.