MIRA INFORM REPORT

Report No. :	308922
Report Date :	21.03.2015

IDENTIFICATION DETAILS

Name :	PROMINENT POWDER PRIVATE LIMITED
Registered Office :	Flat No. 05, First Floor, Building No. 59, Gautam Nagar, New Delhi – 110049
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.03.2012
Com. Reg. No.:	55-232857
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U24200DL2012PTC232857
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELP19770C
PAN No.: [Permanent Account No.]	AFGCP4865P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and exporting of powder coating powder.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 600
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms are reported to be slow. The company can be considered for business dealing with great 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 – 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

Name :	Mr. Aashutosh Gupta
Designation :	Plant Head
Contact No.:	91-8860076711
Date :	14.03.2015

LOCATIONS

Registered Office :	Flat No. 05, First Floor, Building No. 59, Gautam Nagar, New Delhi – 110049, India
Tel. No.:	91-129-2443008
Mobile No.:	91-8860076711 (Mr. Aashutosh Gupta)
Fax No.:	Not Available
E-Mail :	polycoatpowders@gmail.com
Website :	http://www.polycoatpowders.com
Area :	1 Acer
Location :	Owned
Factory :	Plot No 7 B and 8, Prem Estate Street No. 5 East, Saroorpur Industrial Area, Faridabad – 121004, India
Area :	10000 Sq. Ft.

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sher Singh Dagar

Designation :

Director

Address :

House No. 1241 Ward No. 1, Sector – 55, Gaunchhi, Tehsil Ballabhgarh, Faridabad – 121006, Haryana, India

Date of Birth/Age :

03.02.1977

Date of Appointment :

14.03.2012

DIN No. :

05114899

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	U24233DL2011PTC229045	UNIVERSAL CHEMSOL PRIVATE LIMITED	Director	20/12/2011	20/12/2011	-	Active	NO
2	U24200DL2012PTC232857	PROMINENT POWDER PRIVATE LIMITED	Director	14/03/2012	14/03/2012	-	Active	NO

Name :

Dhani Ram Dagar

Designation :

Director

Address :

House No. 558, Sector – 8, Faridabad – 121002, Haryana, India

Date of Birth/Age :

01.04.1960

Date of Appointment :

14.03.2012

DIN No. :

05179664

Name :

Mr. Sukhbir Singh Dagar

Designation :

Director

Address :

House No. 210, Nai Basti, Block-1, Village Gaunchhi, Tehsil Ballabhgarh, Faridabad – 121006, Haryana, India

Date of Birth/Age :

14.04.1969

Date of Appointment :

31.03.2014

DIN No. :

05196297

KEY EXECUTIVES

Name :	Mr. Aashutosh Gupta
Designation :	Plant Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Sher Singh Dagar	3400	34.00
Dhani Ram Dagar	3300	33.00
Sukhbir Singh Dagar	3300	33.00
Total	10000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and exporting of powder coating powder
Products :	Powder Coating Powder Glossy Finish Satin Matt Finish Pure Polyester  Structure Finish Texture Powder Textured Powder Novelty Powder
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Nepal
Imports :	Not Divulged
Terms :
Selling :	Credit (30, 60 and 90 Days)
Purchasing :	Credit (30, 60 and 90 Days)

PRODUCTION STATUS: Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Neo Karaft Globle Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

30 (Approximately)

Bankers :

Banker Name	Corporation Bank
Branch Address	Haryana (Branch)
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 LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
HDFC Bank Limited Vehicle Loan	0.268	0.000
SHORT TERM BORROWINGS
HDFC Bank Limited Swift Car	0.163	0.000
HDFC Bank Limited Vehicle Loan	0.082	0.000
Corporation Bank CC Limit	5.000	0.000
Total	5.513	0.000

Auditors :
Name :	Puneet Mishra and Company Chartered Accountants
Address :	118 B, G. F. Sector 30-33 Indraprastha Colony Faridabad – 121003, Haryana, India
PAN No.:	AAHFP9830G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- 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
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	0.140	(0.008)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.240	0.092
(3) Non-Current Liabilities
(a) long-term borrowings	13.166	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	13.166	0.000
(4) Current Liabilities
(a) Short term borrowings	5.245	0.000
(b) Trade payables	21.579	0.000
(c) Other current liabilities	0.977	0.008
(d) Short-term provisions	0.097	0.000
Total Current Liabilities (4)	27.898	0.008
TOTAL	41.304	0.100
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.274	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.017	0.000
(d) Long-term Loan and Advances	0.037	0.000
(e) Other Non-current assets	0.018	0.031
Total Non-Current Assets	3.346	0.031
(2) Current assets
(a) Current investments	24.512	0.000
(b) Inventories	11.839	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	1.304	0.069
(e) Short-term loans and advances	0.297	0.000
(f) Other current assets	0.006	0.000
Total Current Assets	37.958	0.069
TOTAL	41.304	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	100.000 (Approximately)	50.000 (Approximately)
	Other Income	NA	NA
	TOTAL	NA	NA
Less	TOTAL EXPENSES	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA
Less	TAX	NA	NA
	PROFIT/ (LOSS) AFTER TAX	0.140	(0.007)
	Earnings / (Loss) Per Share (Rs.)	14.00	(0.70)

Expected Sales (2014-2015) : Rs. 150.000 Million

The above information has been parted by Mr. Aashutosh Gupta

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.14	(0.01)
Debt Equity Ratio (Total Debt /Networth)		76.71	0.00
Current Ratio (Current Asset/Current Liability)		1.36	8.63

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100
Reserves & Surplus	(0.008)	0.140
Net worth	0.092	0.240
long-term borrowings	0.000	13.166
Short term borrowings	0.000	5.245
Total borrowings	0.000	18.411
Debt/Equity ratio	0.000	76.713

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
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

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loan from Director	12.898	0.000
Total	12.898	0.000

VIEW INDEX OF CHARGES: No Charges Exist for Company

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. 62.49
UK Pound	1	Rs. 92.26
Euro	1	Rs. 66.80

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KAR
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	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		26

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.