MIRA INFORM REPORT

Report No. :	326373
Report Date :	13.06.2015

IDENTIFICATION DETAILS

Name :	S R G PACKAGING PRIVATE LIMITED
Registered Office :	E-41, South Anarkali, Gali No. 27, Chander Nagar, New Delhi - 110051
Tel. No.:	91-11-47177077
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.04.2003
Com. Reg. No.:	55-119676
Capital Investment / Paid-up Capital :	Rs. 2.572 Million
CIN No.: [Company Identification No.]	U74950DL2003PTC119676
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 Flexible Packaging Films.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 10000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a private limited company established in the year 2003, having moderate track record. Company has recorded losses from its operations in financial year 2014 from its operations, which has hampered its networth. Company has recorded low cash balance in FY14, which may impact its liquid positions. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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. Sunil Gandhi
Designation :	Director
Contact No.:	91-9810166982
Date :	09.06.2015

LOCATIONS

Registered Office :	E-41, South Anarkali Gali No. 27, Chander Nagar, New Delhi - 110051, India
Tel. No.:	91-11-47177077
Mobile No.:	91-9810166982 [Mr. Sunil Gandhi]
Fax No.:	Not Available
E-Mail :	spgpackaging2008@yahoo.co.in srgpackaging2008@yahoo.co.in
Location :	Owned
Factory :	I-28, Site-C, UPSIDC, Industrial Area, Surajpur, Greater Noida - 201306, Uttar Pradesh, India
Tel. No.:	91-120-6549414

DIRECTORS

As on: 30.09.2014

Name :	Mr. Sunil Gandhi
Designation :	Director
Address :	E-41, South Anarkali Gali No. 27, Chander Nagar, New Delhi-110051, India
Date of Birth/Age :	20.01.1964
Date of Appointment :	01.04.2003
DIN No.:	01850743
Name :	Mr. Puran Chand Gandhi
Designation :	Additional Director
Address :	E-41, South Anarkali Gali No. 27, Chander Nagar, New Delhi-110051, India
Date of Birth/Age :	15.02.1933
Date of Appointment :	17.03.2012
DIN No.:	05257720
Name :	Mrs. Kamini Gandhi
Designation :	Director
Address :	E-41, South Anarkali Gali No. 27, Chander Nagar, New Delhi-110051, India
Date of Birth/Age :	11.02.1968
Date of Appointment :	01.04.2003
DIN No.:	02442867

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares
Sunil Gandhi	128240
Puran Chand Gandhi	2000
Kamini Gandhi	7000
B.P. Infotech Private Limited, India	20000
S.J. Hosiery Private Limited, India	30000
Ajay Sharma	20000
Jai Baba Traders Private Limited, India	20000
Mukesh Kumar	10000
Raju Rawat	20000
Total	257240

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Bodies corporate	27.21
Directors or relatives of directors	53.35
Other top fifty shareholders	19.44
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Flexible Packaging Films.
Products :	Packaging Products Window Metalized Pouches Retort Pouches Vacuum Retort Pouch Vacuum Retort Food Pouch Preformed Pouches Flexible Printed Rolls Flexible Laminated Rolls  Flexible Packaging Films Laminated Roll Stock Film Laminates, etc.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Flexible Packaging Films
Countries :	South Africa
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Jaswant Enterprises
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 :	Berger Paints
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 :

15 (Approximately)

Bankers :

Standard Chartered Bank

Bank Name	The Jammu and Kashmir Bank Limited
Branch	P-2, Jop Plaza, Sector-18, Noida - 201301, Uttar Pradesh, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Secured Term Loans From Banks
Jammu & Kashmir Bank Limited (Secured against D.G Set)	0.309	0.000
Short-term borrowings
Working Capital Loan From Jammu & Kashmir Bank Limited [(Secured against first charge on fixed asset and current Asset of the company]	2.499	2.349
Total	2.808	2.349

Auditors :
Name :	PVSP and Company Chartered Accountants
Address :	5, Road No.34, Pusa Road, W E A Karol Bagh, New Delhi – 110005, India
PAN No. :	AAAFB4793K
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs.10/- each	Rs. 3.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
257,240	Equity Shares	Rs.10/- each	Rs. 2.572 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	2.572	2.572	2.572
(b) Reserves & Surplus	0.724	1.257	1.208
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.680	0.680	0.680
Total Shareholders’ Funds (1) + (2)	3.976	4.509	4.460
(3) Non-Current Liabilities
(a) long-term borrowings	1.746	1.491	0.939
(b) Deferred tax liabilities (Net)	0.512	0.517	0.529
(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)	2.258	2.008	1.468
(4) Current Liabilities
(a) Short term borrowings	2.558	2.348	2.399
(b) Trade payables	13.145	10.282	13.670
(c) Other current liabilities	0.820	0.801	0.234
(d) Short-term provisions	0.179	0.176	0.137
Total Current Liabilities (4)	16.702	13.607	16.440
TOTAL	22.936	20.125	22.368
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.362	3.795	3.679
(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	0.000	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	4.362	3.795	3.679
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.263	2.253	3.432
(c) Trade receivables	11.732	12.156	12.305
(d) Cash and cash equivalents	0.597	0.105	0.398
(e) Short-term loans and advances	0.748	0.530	1.502
(f) Other current assets	2.234	1.286	1.052
Total Current Assets	18.574	16.330	18.689
TOTAL	22.936	20.125	22.368

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Turnover	16.763	20.900	21.814
		Other Income	0.234	NA	NA
		TOTAL	16.997	NA	NA
Less	EXPENSES
		TOTAL	16.896	NA	NA
	PROFIT / (LOSS) BEFORE TAX		0.101	NA	NA
Less	TAX		0.634	NA	NA
	PROFIT / (LOSS) AFTER TAX		(0.533)	0.049	0.029
	Earnings / (Loss) Per Share (Rs.)		(2.07)	--	--

Particulars	31.03.2015
Sales Turnover (Approximately)	17.500

Expected turnover (2015-2016) : Rs.20.000 Million

The above information has been parted by Mr. Sunil Gandhi

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
PAT / Sales	(%)	(3.18)	0.23	0.13
Return on Total Assets (PBT/Total Assets}	(%)	0.44	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.03	NA	NA
Debt Equity Ratio (Total Debt/Networth)		1.08	0.85	0.75
Current Ratio (Current Asset/Current Liability)		1.11	1.20	1.14

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	2.572	2.572	2.572
Reserves & Surplus	1.208	1.257	0.724
Share Application money pending allotment	0.680	0.680	0.680
Net worth	4.460	4.509	3.976
long-term borrowings	0.939	1.491	1.746
Short term borrowings	2.399	2.348	2.558
Total borrowings	3.338	3.839	4.304
Debt/Equity ratio	0.748	0.851	1.082

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	21.814	20.900	16.763
		(4.190)	(19.794)

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	21.814	20.900	16.763
Profit/Loss	0.029	0.049	(0.533)
	0.13%	0.23%	(3.18%)

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	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	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)
Long-term Borrowings
Unsecured Long Term Borrowings:
Pooran Chand	0.300	0.300
Jaaju Holding Private Limited	0.200	0.000
Suraktit Finlease Private Limited	0.240	0.000
Shree Jagannath Securities Private Limited	0.100	0.100
Standard Chartered Bank	0.597	1.091
Short-term borrowings
Loan From Director Kamini Gandhi	0.059	0.000
Total	1.496	1.491

CORPORATE INFORMATION

Subject is engaged in providing services of consultancy for feasibility studies cost estimates design preparation of preliminary and working drawings etc. The company has been incorporated in the year 2009.The company’s registered office is in Delhi.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10464737	26/10/2013	340,000.00	THE JAMMU AND KASHMIR BANK LIMITED	P-2, JOP PLAZA, SECTOR-18, NOIDA, UTTAR PRADESH -  201301, INDIA	B91359828
2	90040170	30/12/2006 *	6,000,000.00	THE JAMMU & KASHMIR BANK LIMITED	P-2, J.O.P. OLAZA,, SECTOR-18,, NOIDA, UTTAR PRAD  ESH - 201301, INDIA	-
3	90038515	20/11/2003 *	1,700,000.00	JAMMU & KASHMIR BANK LTD.	H.O.M.O. ROAD, SRINAGAR, JAMMU AND KASHMIR, INDIA	-

Note: * Date of charge modification

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. 71.89

INFORMATION DETAILS

Information Gathered by :	RKH
Analysis Done by :	KIN
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.