MIRA INFORM REPORT

Report No. :	313369
Report Date :	23.03.2015

IDENTIFICATION DETAILS

Name :	ADVANCE PETROCHEMICALS LIMITED
Registered Office :	36, Kothari Market, Kankaria Road, Ahmedabad – 380022, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.08.1985
Com. Reg. No.:	04-008013
Capital Investment / Paid-up Capital :	Rs. 9.000 Millions
CIN No.: [Company Identification No.]	L23200GJ1985PLC008013
TAN No.: [Tax Deduction & Collection Account No.]	AHMA00184C
PAN No.: [Permanent Account No.]	AACCA4991M
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturing of Petroleum Products.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile marked by low reserves and thin profitability margins of the company. 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.

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 DECLINED BY

Name :	Mr. Pulkit Goenka
Designation :	Finance Manager
Contact No.:	91-79-65418855
Date :	19.03.2015

LOCATIONS

Registered Office :	36, Kothari Market, Kankaria Road, Ahmedabad – 380022, Gujarat, India
Tel. No.:	91-79-25454795/ 25450609
Fax No.:	91-79-25454586
E-Mail :	info@advancepetro.com advance93@hotmail.com
Website :	http://www.advancepetro.com
Factory :	Plot No.167, Pirana Road, Piplej, Ahmedabad – 382405, Gujarat, India
Tel. No.:	91-79-25711218/ 25715196
Fax No.:	91-79-25710027

DIRECTORS

AS ON 31.03.2014

Name :	Mr. Ashok Goenka
Designation :	Chairman and Managing director
DIN No.:	00086925
Name :	Mr. Arvind Goenka
Designation :	Director
Date of Birth/Age :	01.07.1962
Qualification :	M. Sc
Expertise in specific functional area :	25 Years exp. In business as Director
Date of Appointment :	20.11.1997
DIN No.:	00093200
Name :	Mr. ShaileshSingh Rajput
Designation :	Director
DIN No.:	00176962
Name :	Mr. Omprakash Jalan
Designation :	Director
Date of Birth/Age :	14.04.1950
Qualification :	B. Com
Experience :	35 Years
Date of Appointment :	30.07.2002
DIN No.:	00176876
Name :	Mr. Nirish J. Parikh
Designation :	Director
Date of Birth/Age :	02.07.1955
Qualification :	B. Com
Experience :	35 years exp in petrol, oil and gas sector
Date of Appointment :	12.05.2011
DIN No.:	03506494

KEY EXECUTIVES

Name :	Mr. Pulkit Goenka
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2014

Category of Shareholder	Total No. of Shares	As a %
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	52280	5.81
Any Others (Specify)	368370	40.93
Directors/Promoters & their Relatives & Friends	32820	3.65
Group Companies	335550	37.28
Sub Total	420650	46.74
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	420650	46.74
(B) Public Shareholding
(1) Institutions
(2) Non-Institutions
Bodies Corporate	4600	0.51
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	444550	49.39
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	30200	3.36
Sub Total	479350	53.26
Total Public shareholding (B)	479350	53.26
Total (A)+(B)	900000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1)	0	0.00
(2)	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	900000	100.00

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

Sl. No.	Name of the Shareholders	Details of Shares held
		No. of Shares held	As a %
1	Advance Multitech Limited	1,74,900	19.43
2	Honest Synthetic Private Limited	1,57,500	17.50
3	Sheela A Goenka	23,430	2.60
4	Pulkit Ashok Kumar Goenka	10,600	1.18
5	Ashokkumar Vishwanath Goenka	10,010	1.11
6	Pulkit Ashok Goenka	10,000	1.11
7	Arvindkumar V Goenka	7,500	0.83
8	Ashokkumar V Goenka	7,000	0.78
9	Nandlal Vishwanath Goenka HUF	5,000	0.56
10	Ashokkumar Goenka	5,000	0.56
11	Arvind Goenka	3,300	0.37
12	Sidharth Agencies Limited	3,000	0.33
13	Uma Arvind Goenka	3,000	0.33
14	Vandana Goenka	200	0.02
15	Advance Multitech Limited	150	0.02
16	Keshav Virchand Nagar	10	0.00
17	Vishwanath Nandlal Goenka	10	0.00
18	Rajkumar Bajranglal Seksaria	10	0.00
19	Vandana Vishwanath Goenka	10	0.00
20	Arvind Kumar Vishwanath Goenka	10	0.00
21	Sheela Ashokkumar Goenka	10	0.00
	Total	4,20,650	46.74

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

Sl. No.	Name of the Shareholder	No. of Shares held	Shares as %
1	Pulkit Ashokkumar Goenka	30200	3.36
	Total	30200	3.36

BUSINESS DETAILS

Line of Business :	Manufacturing of Petroleum Products.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	--
Purchasing :	--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	--
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	--
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	-

No. of Employees :

Information declined by the management

Bankers :

Bank Name:	--
Branch:	--
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

· Oriental Bank of Commerce

C.G. Road Branch, Ahmedabad – 380006, Gujarat, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Car Loan From HDFC Bank Limited (Secured Against Car)	0.225	0.000
SHORT TERM BORROWINGS
Oriental Bank of Commerce	12.176	14.931
Oriental Bank of Commerce Packing Credit	1.098	10.000
Total	13.499	24.931

Banking Relations :	--
Auditors :
Name :	Pipara and Company Chartered Accountants
Address :	"Pipara Corporate House", Netaji Marg, Law Garden, Ahmedabad – 380006, Gujarat, India
Group Companies :	Advance Multitech Limited Advance Synthetic Mills Advance Impex

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
900,000	Equity Shares	Rs. 10/- each	Rs. 9.000 Millions

The authorised share capital of the company throughout 2012-13 & 2013-14 was Rs. 20.000 Millions representing 2,000,000 ordinary shares of Rs.10 each.

The allotted, called up and fully paid ordinary share capital of the company at 31st March, 2014 was Rs. 9.000 Millions (2014: Rs. 9.000 Millions) representing 900,000 (2014: 900,000) ordinary shares of Rs. 10 each.

Shareholders having more than 5% of Shares:

Name of Shareholders	March 31, 2014
	No. of Shares held	% of Holding
Pulkit Ashok Goenka	50,800	5.64%
Advance Multitech Limited	175,050	19.45%
Honest Synthetic Private Limited	157,500	17.50%

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	9.000	9.000	9.000
(b) Reserves & Surplus	6.287	5.151	4.440
(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)	15.287	14.151	13.440
(3) Non-Current Liabilities
(a) Long-term borrowings	16.603	10.635	14.052
(b) Deferred tax liabilities (Net)	1.322	1.010	0.739
(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)	17.925	11.645	14.791
(4) Current Liabilities
(a) Short term borrowings	13.274	25.307	13.350
(b) Trade payables	10.484	2.584	2.445
(c) Other current liabilities	12.611	11.135	7.832
(d) Short-term provisions	0.395	0.209	0.450
Total Current Liabilities (4)	36.764	39.235	24.077
TOTAL	69.976	65.031	52.308
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.672	15.363	16.294
(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	3.597	3.596	3.596
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.020	1.124	0.736
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	20.289	20.083	20.626
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	20.866	17.533	14.406
(c) Trade receivables	21.157	14.955	11.683
(d) Cash and cash equivalents	3.860	10.714	3.445
(e) Short-term loans and advances	0.950	0.209	0.211
(f) Other current assets	2.854	1.537	1.937
Total Current Assets	49.687	44.948	31.682
TOTAL	69.976	65.031	52.308

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	125.445	84.376	79.467
		Other Income	1.751	1.399	1.244
		TOTAL (A)	127.196	85.775	80.711
Less	EXPENSES
		Cost of Materials Consumed	102.490	63.559	67.932
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3.902)	(0.337)	(6.304)
		Employees benefits expense	4.107	3.009	2.225
		Other expenses	17.218	13.804	11.500
		TOTAL (B)	119.913	80.035	75.353
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.283	5.740	5.358
Less	FINANCIAL EXPENSES (D)		4.033	3.340	2.799
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.250	2.400	2.559
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.328	1.303	1.270
	PROFIT BEFORE TAX (E-F) (G)		1.922	1.097	1.289
Less	TAX (H)		0.708	0.300	0.333
	PROFIT AFTER TAX (G-H) (I)		1.214	0.797	0.956
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	19.394	7.063	11.821
	C.I.F. VALUE OF IMPORTS		2.195	0.000	0.000
	Earnings Per Share (Rs.)		1.35	0.89	1.06

QUARTERLY RESULTS

PARTICULARS	30.06.2014	30.09.2014	31.12.2014
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	26.400	33.700	35.600
Total Expenditure	25.000	32.200	34.000
PBIDT (Excl OI)	1.400	1.500	1.600
Other Income	0.000	0.100	0.000
Operating Profit	1.400	1.600	1.600
Interest	0.900	1.000	1.000
Exceptional Items	0.000	0.000	0.000
PBDT	0.500	0.600	0.600
Depreciation	0.300	0.300	0.300
Profit Before Tax	0.200	0.300	0.300
Tax	0.000	0.000	0.000
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	0.200	0.300	0.300
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	0.200	0.300	0.300

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.97	0.94	1.20
Operating Profit Margin (PBDIT/Sales)	(%)	5.81	6.80	6.74
Return on Total Assets (PBT/Total Assets}	(%)	2.90	1.79	2.65
Return on Investment (ROI) (PBT/Networth)		0.13	0.08	0.10
Debt Equity Ratio (Total Debt/Networth)		1.95	2.54	2.04
Current Ratio (Current Asset/Current Liability)		1.35	1.15	1.32

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	9.000	9.000	9.000
Reserves & Surplus	4.440	5.151	6.287
Net worth	13.440	14.151	15.287
Long-term borrowings	14.052	10.635	16.603
Short term borrowings	13.350	25.307	13.274
Total borrowings	27.402	35.942	29.877
Debt/Equity ratio	2.039	2.540	1.954

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	79.467	84.376	125.445
		6.177	48.674

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	79.467	84.376	125.445
Profit	0.956	0.797	1.214
	1.20%	0.94%	0.97%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBT

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Current maturities of long-term debt
From Body Corporate: Reliagare Finvest Limited	0.590	0.886	0.748
Megma Fincorp Limited	1.210	0.898	0.758
Kotak Mahindra Bank Limited	0.342	0.722	0.603
Bajaj Finance Limited	0.851	0.433	0.910
Tata Capital Finance Ser Limited	1.039	0.000	0.000
HDFC Bank Car Loan	0.095	0.000	0.000
Total	4.127	2.939	3.019

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three 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	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
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

LITIGATION DETAILS

HIGH COURT OF GUJARAT

WRIPT PETITION (PIL) No. 115 of 2014

Status: PENDING ( Converted from : C/PILST/104/2014 ) CCIN No: 001026201400115

Last Listing Date: 25/07/2014

Coram:

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

S.NO.

Name of the Petitioner

Advocate On Record

1

KHWAJA GARIB NAWAZ JEEV BACHAO FOUNDATION

MR K R MISHRA for: Applicant(s)  1

S.NO.

Name of the Respondant

Advocate On Record

1

2

3

4

5
6
7

8

9
10
11

PRINCIPAL SECRETARY

CHAIRMAN - GUJARAT POLLUTION CONTROL BOARD

DIRECTORATE OF INDUSTRIAL SAFETY AND HEALTH

PRESIDENT- VATVA INDUSTRIAL ASSOCIATION
M.G. TEXTILES MILL PVT LTD

CHAMARIA TEXTILES MILLS PVT LTD

MAYANK PROCESSORS- TEXTILES MILLS PVT LTD

VISHWAKARMA TEXTILES MILLS PVT LTD
RINKU TEXTILES MILLS PVT LTD

AKASH FASHION PVT LTD

TAMELINE TEXTILE EXPORT PVT LTD

more

GOVERNMENT PLEADER for :Opponent(s)  1
SERVED BY AFFIX.-(R) for :Opponent(s)  17 , 59 , 68 , 81

MR VAIBHAV A VYAS for :Opponent(s)  2

RULE UNSERVED for :Opponent(s)  21 , 28 - 29 , 31 , 71 , 76

MR MITUL K SHELAT for :Opponent(s)  4

RULE SERVED for :Opponent(s)  5 , 54 , 56 - 57 , 77 , 83

NANAVATI ASSOCIATES for :Opponent(s)  6 - 16 , 18 - 20 , 22 - 27 , 30 , 32 - 53 , 55 , 58 , 60 - 67 , 69 - 70 , 72 - 75 , 78 - 80 , 82 , 84

MR RD DAVE for :Opponent(s)  85

Presented On	: 25/03/2014	Registered On	: 28/03/2014
Bench Category	: -	District	: AHMEDABAD
Case Originated From	: THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 6 times
Stage Name	: ADMISSION (FRESH MATTERS)

Classification	DB - PIL - PIL - ANY OTHER / MISC. MATTERS
Act	CONSTITUTION OF INDIA

Office Details

S. No

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

25/03/2014

VAKALATNAMA

MR K R MISHRA ADVOCATE
for PETITIONER(s)  1

5

MR K R MISHRA(6312) for P:1

2

25/03/2014

MEMO OF APPEAL/PETITION/SUIT

MR K R MISHRA ADVOCATE
for PETITIONER(s)  1

100

MR K R MISHRA(6312), for P:1

3

26/03/2014

ADVANCE COPY OF PETITION

GOVERNMENT PLEADER 
for RESPONDENT(s)  1

0

GOVERNMENT PLEADER(1) for R:1

4

17/04/2014

VAKALATNAMA

MR VAIBHAV A VYAS ADVOCATE
for RESPONDENT(s)  2

5

MR VAIBHAV A VYAS(2896) for R:2

5

22/04/2014

VAKALATNAMA

MR MITUL K SHELAT ADVOCATE
for RESPONDENT(s)  4

5

MR MITUL K SHELAT(2419) for R:4

6

03/05/2014

VAKALATNAMA FOR ADDITIONAL PARTIES

NANAVATI ASSOCIATES ADVOCATE
for RESPONDENT(s)  6

0

NANAVATI ASSOCIATES(1375) for R:6 , 84

7

31/07/2014

VP FILED IN MAIN MATTER

MR RD DAVE ADVOCATE
for RESPONDENT(s)  85

0

MR RD DAVE(264) for R:85

Applications

S. No.	Case Detail	Status Name	Disposal Date	Action/Coram
1	CIVIL APPLICATION/8257/2014	DISPOSED	25/07/2014	CA DISPOSED OF · HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA

Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	03/04/2014	1	9	ADMISSION (FRESH MATTERS)	FIXED RULE / ADMIT	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA
2	24/04/2014	1	210	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA
3	26/06/2014	1	139	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA
4	10/07/2014	1	127	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA
5	11/07/2014	1	138	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA
6	25/07/2014	1	14	URGENT ADMISSION (FRESH MATTERS)		· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA

Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Transferred	Download
1	WRIPT PETITION (PIL)/115/2014	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA	03/04/2014	N	ORDER	Y	Download
2	WRIPT PETITION (PIL)/115/2014	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA	11/07/2014	N	ORDER	Y	Download

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10363508	16/02/2015 *	36,000,000.00	ORIENTAL BANK OF COMMERCE	G-2, SAMEDH, NR. ASSOCIATED PETROL PUMP, C.G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA	C44350338

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans repayable on demand
From Body corporates Religare Finvest Limited	0.000	0.590
Megma Fincorp Limited	0.000	0.510
Kotak Mahindra Bank Limited	0.000	0.342
Bajaj Finance Limited (13-14)	1.189	0.000
Tata Capital Limited	1.461	0.000
Magma Fincorp Limited (13-14)	1.799	0.000
From Related parties Advance Stainless Private Limited	0.950	0.950
Advance Synthetic Mills	6.519	6.519
Aditi Pulkit Goenka	0.500	0.000
From Others Seema Sanjay Goenka	0.062	0.577
Sanjay R. Goenka HUF	1.210	0.566
Sanjay R Goenka	0.606	0.000
Hansa Dineshbhai Bansal	0.000	0.027
Dropadidevi Dhanuka	0.233	0.222
Pawan Dhanuka	0.349	0.332
Sheela Ashok Goenka	1.000	0.000
Riddhi Steel Tube Private Limited	0.500	0.000
SHORT TERM BORROWINGS
Loans and advances from related parties
Advance Multitech Limited	0.000	0.376
Total	16.378	11.011

OPERATIONS

During the year the company has registered a sales turnover of Rs.125.445 Millions in comparison to the figure of Rs.84.376 Millions of the previous year. Despite slowdown of economy and increasing competition, the company has registered increase in sales turnover of the Company. As a result of increase in sale turn over on one hand and at the same curbing expenses on the other hand, net profit after tax has increased to Rs.1.214 Millions as compared to Rs.0.797 Million of the previous year. The Management is hopeful of achieving better results in years to come.

UNAUDITED FINANCIAL RESULT [PROVISIONAL] FOR THE 3RD QUARTER ENDED 31.12.2014

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	CORRESPONDING [PROV.]
		For the Quarter Ended 31.12.2014	Cumulative for 9 Month ended 31.12.2014
		[Unaudited]	[Unaudited]
1	Gross Sales	35.548	95.714
2	Other Income from Operations	0.001	0.048
3	Cost of Sales
	(a) Material Cost	22.709	59.355
	(b) Salary and Wages	1.375	4.343
4	Other Expenses	9.887	27.487
5	Interest	0.979	2.862
6	Depreciation	0.332	0.996
7	Profit/ Loss before tax	0.268	0.718
8	Provision for Taxation	0.000	0.000
9	Profit/ Loss after Tax	0.268	0.718
10	Prior period adjustment	0.000	0.000
11	Deferred Tax Assets	0.000	0.000
12	Net Profit/ Loss	0.268	0.718
13	Paid-up Equity Share Capital (Face value of the share – Rs. 10)	9.000	9.000
14	Reserves and Surplus [Excluding Revaluation Reserve]	--	--
15	Basic and Diluted EPS for the year to date and for the previous year	0.03	0.08
16	Aggregate of the non-promoting Share holding
	No. of Shares	449150	449150
	% of Shareholding	49.91	49.91
17	Promoters and Promoter group shareholding
	a) Pledged/Encumbered
	- Number of Shares	0	0
	- (As a % of the Total Shareholding of promoter and promoter group)	0	0
	- (As a % of the Total Share Capital of the Company)	0	0
	Non - encumbered
	- Number of Shares	450850	450850
	- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)	100%	100%
	- Percentage of Shares (as a % of the Total Share Capital of the company)	50.09%	50.09%

NOTE:

There is no compliant outstanding at the end of the quarter.

FIXED ASSETS:

· Factory Building

· Plant and Machinery

· Machinery Scrap

· Furniture and Fixture

· Computer

· Vehicle

· Office Equipment

· Factory Land

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 records 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 records 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 :	SVA
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.