MIRA INFORM REPORT

Report No. :	307100
Report Date :	02.03.2015

IDENTIFICATION DETAILS

Name :	D P WIRES PRIVATE LIMITED
Registered Office :	16-18A, Industrial Estate, Ratlam – 457001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.02.1998
Com. Reg. No.:	10-029523
Capital Investment / Paid-up Capital :	Rs. 24.960 Millions
CIN No.: [Company Identification No.]	U27100MP1998PTC029523
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 Wires and Plastic Films.
No. of Employees :	80 (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 550000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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

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 (GENERAL DETAILS)

Name :	Mr. Praveen Kataria
Designation :	Director
Contact No.:	91-9893821105
Date :	02.03.2015

LOCATIONS

Registered/ Head Office :	16-18A, Industrial Estate, Ratlam – 457001, Madhya Pradesh, India
Tel. No.:	91-7412-261130/ 260646
Mobile No.:	91-9893821105 (Mr. Praveen Kataria)
Fax No.:	91-7412-261174
E-Mail :	katariaplastics@rediffmail.com pkipl@rediffmail.com
Website :	http://www.katariaworld.com
Branch Offices :	Located at: · Mumbai · Kolkata · Delhi

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Praveen Kataria

Designation :

Whole-time director

Address :

63, Chowmukhi Pool, Ratlam – 457001, Madhya Pradesh, India

Qualification :

B.E. Mech. Eng.

Date of Appointment :

01.01.2015

DIN No.:

00088633

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	U24248MP1993PTC007692	SAN INDUSTRIES PRIVATE LIMITED	Director	01/12/2000	01/12/2000	-	Active	NO
2	U65921MP1994PTC008433	SONIC FISCAL SERVICES PRIVATE LIMITED	Director	01/12/2000	01/12/2000	09/10/2014	Active	NO
3	U27300MP2004PTC029530	KATARIA INDUSTRIES PRIVATE LIMITED	Whole-time director	01/04/2012	01/01/2005	10/01/2015	Active	NO
4	U45201MP1996PLC033544	UTKARSH LAND DEVELOPERS LIMITED	Director	02/02/2009	02/02/2009	10/02/2015	Active	NO
5	U25199MH2010PTC205372	D.P. POLYPLAST INDUSTRIES PRIVATE LIMITED	Director	09/07/2010	09/07/2010	01/12/2014	Active	NO
6	U74140GJ2007PTC050785	NIRMAL ADVISORY PRIVATE LIMITED	Additional director	15/09/2010	15/09/2010	30/03/2011	Active	NO
7	U24100MH2010PTC206526	TROPHIC WELLNESS PRIVATE LIMITED	Director	30/09/2011	21/10/2010	-	Active	NO
8	U13200MP1950PTC031617	SHREE HANUMAN MINING CORPORATION Private Limited	Director	31/12/2014	31/12/2014	-	Active	NO
9	U27100MP1998PTC029523	D P WIRES PRIVATE LIMITED	Whole-time director	01/01/2015	01/01/2015	-	Active	NO

Name :

Mr. Hemant Kataria

Designation :

Whole-time director

Address :

63, Chowmukhi Pool, Ratlam – 457001, Madhya Pradesh, India

Date of Birth/Age :

01.12.1977

Date of Appointment :

01.04.2012

DIN No.:

00088833

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	U27100MP1998PTC029523	D P WIRES PRIVATE LIMITED	Whole-time director	01/04/2012	16/11/2000	-	Active	NO
2	U13200MP1950PTC031617	SHREE HANUMAN MINING CORPORATION PRIVATE LIMITED	Director	20/01/2004	20/01/2004	-	Active	NO
3	U14200MP2008PTC033527	PANNA RESOURCES PRIVATE LIMITED	Director	18/12/2008	18/12/2008	31/01/2015	Active	NO
4	U27300MP2004PTC029530	KATARIA INDUSTRIES PRIVATE LIMITED	Director	01/04/2011	01/04/2011	02/04/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Sanjay Kataria	74810
Ravi Kataria	1500
Nagina Devi Kataria	183992
Pankaj Kataria	68640
Suman Devi Kataria	105282
Sapna Kataria	82200
Asha Devi Kataria	84647
Chanda Devi Kataria	188171
San Industries Private Limited	434000
Kantilalji Kataria	195460
Nishtha Kataria	128545
Anoop Kataria	108835
Rani Kataria	146147
Praveena Kataria	37647
Renu Kataria	25882
Anokhilalji Kataria	110080
Manoharlalji Kataria	23320
Arvind Kataria	66990
Ashok Kataria	193225
Pankaj Madanlal Kataria HUF	147620
Rakhi Kataria	76780
Samta Kataria	7630
Sushila Devi Kataria	4537
Kantilal Pannalal Kataria HUF	10
Praveen Kataria	10
Pravin Kantilal Kataria HUF	10
Arvind Katatilal Kataria HUF	10
Hemant Kataria	10
Hemant Kantiala Kataria HUF	10
Total	2496000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	17.00
Directors or relatives of directors	83.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Wires and Plastic Films.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	· Sri Lanka · Dubai
Imports :
Products :	Raw Material
Countries :	· China · Europe
Terms :
Selling :	Advance Payment
Purchasing :	Advance Payment

PRODUCTION STATUS (AS ON 31.03.2014)

Particulars	Unit	Actual Production
M.S./ CHQ/ HTGS/ HC/ PC Wire [Including Scrap]	M.T.	14265.7
Film/ Sheet, Lay Flat Tubing [Including Scrap]	M.T.	1978.085
Traded Goods	M.T.	112.360
Power generation by Wind Mills	M.T.	2674733

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers, End users and Manufacturer

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

80 (Approximately)

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Axis Bank Limited

Anklesaria Complex, Ground Floor, Opposite DRM Office, DO Batti, Ratlam - 457001, Madhya Pradesh, India

· State Bank of India

Commercial Branch, Mitra Niwas Road, Ratlam - 457001, Madhya Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Loans repayable on demand From Axis Bank Limited [Cash Credit Limit]	39.789	0.000
From State Bank of India [Cash Credit Limit]	0.000	135.102
From State Bank of India [Buyers Credit]	0.000	15.767
Total	39.789	150.869

Banking Relations :	--
Auditors :
Name :	P D Nagar and Company Chartered Accountants
Address :	403, City Plaza, 403, City Plaza, Indore – 452001, Madhya Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AASPN6728J
Related Parties :	· D.P. Plastic · D. P. Industries · Kataria Industries Private Limited · Ratlam Wires Private Limited · Kataria Wires Private Limited

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital : Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 35.000 Millions

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,500,000	Equity Shares	Rs. 10/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,496,000	Equity Shares	Rs. 10/- each	Rs. 24.960 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	24.960	24.960	24.960
(b) Reserves & Surplus	167.503	154.002	137.831
(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)	192.463	178.962	162.791
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	5.267	5.963	7.784
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.379	1.348	0.998
Total Non-current Liabilities (3)	5.646	7.311	8.782
(4) Current Liabilities
(a) Short term borrowings	49.434	201.239	128.217
(b) Trade payables	41.906	48.088	26.750
(c) Other current liabilities	22.161	15.399	73.669
(d) Short-term provisions	0.010	1.960	0.000
Total Current Liabilities (4)	113.511	266.686	228.636
TOTAL	311.620	452.959	400.209
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	51.567	48.714	62.820
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	12.362	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	51.567	61.076	62.820
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	65.781	38.642	71.584
(c) Trade receivables	122.878	216.015	130.196
(d) Cash and cash equivalents	9.945	5.693	18.731
(e) Short-term loans and advances	57.277	125.675	116.016
(f) Other current assets	4.172	5.858	0.862
Total Current Assets	260.053	391.883	337.389
TOTAL	311.620	452.959	400.209

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations		961.760	762.452
		Other Income		16.534	15.753
		TOTAL (A)	NA	978.294	778.205
Less	EXPENSES
		Cost of Materials Consumed		696.757	621.771
		Cost of Traded Goods sold		99.408	10.249
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		11.754	3.692
		Employees benefits expense		12.668	23.973
		Other expenses		100.946	84.681
		Exceptional Items		9.183	0.658
		TOTAL (B)	NA	930.716	745.024
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[Including Financial and Depreciation Expenses]	47.578	33.181
Less	FINANCIAL EXPENSES (D)			17.600	21.289
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			29.978	11.892
Less/ Add	DEPRECIATION/ AMORTISATION (F)			10.927	13.112
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		NA	19.051	(1.220)
Less	TAX (H)		NA	2.880	(0.113)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		15.380	16.171	(1.107)
	Earnings Per Share (Rs.)		6.16	10.17	(0.28)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	NA	1.68	(0.15)
Operating Profit Margin (PBDIT/Sales)	(%)	NA	4.95	4.35
Return on Total Assets (PBT/Total Assets}	(%)	NA	4.32	(0.30)
Return on Investment (ROI) (PBT/Networth)		NA	0.11	(0.01)
Debt Equity Ratio (Total Debt/Networth)		0.26	1.12	0.79
Current Ratio (Current Asset/Current Liability)		2.29	1.47	1.48

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	24.960	24.960	24.960
Reserves & Surplus	137.831	154.002	167.503
Net worth	162.791	178.962	192.463
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	128.217	201.239	49.434
Total borrowings	128.217	201.239	49.434
Debt/Equity ratio	0.788	1.124	0.257

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two 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	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
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	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10482347	07/10/2014 *	240,000,000.00	AXIS BANK LIMITED	ANKLESARIA COMPLEX, GROUND FLOOR, OPP. DRM OFFICE, DO BATTI, RATLAM, MADHYA PRADESH - 457001, INDIA	C31016991

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
From Related Parties	9.645	44.693
From Intercorporate Deposits	0.000	5.677
Total	9.645	50.370

OVERVIEW

Subject is engaged in the business of manufacturing and sale of Steel wires, Plastic Film Sheets besides trading in Furnace Oil. It also acted as consignment acgent of Wire Rod and Zinc. In addition, the Company has Wind Mills located in India for generation and supply of electricity.

FIXED ASSETS:

· Land

· Land Development

· Factory Building

· Plant and Machinery

· Electric Installation

· Office Equipment

· Vehicles

· Computer

· Wind Energy Generator Plant

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. 61.79
UK Pound	1	Rs. 95.42
Euro	1	Rs. 69.29

INFORMATION DETAILS

Information Gathered by :	JML
Analysis Done by :	RAS
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	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.