MIRA INFORM REPORT

Report No. :	312557
Report Date :	26.03.2015

IDENTIFICATION DETAILS

Name :	CAPTEL INTERNATIONAL PRIVATE LIMITED
Registered Office :	Central Building No 2, 1st Floor, Opposite Kalbadevi Post Office, New Silk Road, Mumbai – 400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.12.2009
Com. Reg. No.:	11-197908
Capital Investment / Paid-up Capital :	Rs.1.200 Million
CIN No.: [Company Identification No.]	U64201MH2009PTC197908
IEC No.:	Not Available
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 :	Trader and Exporter of packaging Liners, Closures, Containers and Ancillary Machinery.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 9300
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound. Profitability of the company is fair. 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

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Sanjay
Designation :	Logistic Manager
Contact No.:	91-22-22060654
Date :	19.03.2015

LOCATIONS

Registered Office :	Central Building No 2, 1st Floor, Opposite Kalbadevi Post Office, New Silk Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22060654 / 22061041
Fax No.:	91-22-66356097
E-Mail :	info@captelintl.com
Website :	www.captelintl.com sudhir@captelintl.com
Area :	500 Sq. Ft.
Location :	Owned

DIRECTORS

As on : 31.03.2014

Name :

Mr. Sudhir Bansilal Navalakha

Designation :

Director

Address :

1118/B, Lakaki Road, Shivaji Nagar, Pune – 411016, Maharashtra, India

Date of Birth/Age :

22.12.1963

Date of Appointment :

17.12.2009

DIN No.:

00395347

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	U52209PN1990PTC059608	SEAIR IMPEX P LTD	Director	31/12/1990	31/12/1990	-	Active	NO
2	U64201MH2009PTC197908	CAPTEL INTERNATIONAL PRIVATE LIMITED	Director	17/12/2009	17/12/2009	-	Active	NO
3	U40300MH2010PTC200489	VEETRAG POWER PRIVATE LIMITED	Director	26/02/2010	26/02/2010	-	Active	NO
4	U55101PN1999PLC014183	CONCEPT HOTEL BARONS LIMITED	Additional director	01/07/2010	01/07/2010	30/09/2010	Active	NO
5	U93000MH1996PLC103679	VITRAAG AQUA INFRA LIMITED	Director	29/12/2010	29/12/2010	-	Active	NO
6	U67120MH1976PTC018859	VEETRAG HOLDING COMPANY PRIVATE LIMITED	Director	06/08/2012	06/08/2012	-	Active	NO
7	U70100MH2012PTC235668	TRIVENI VAASTU INFRA PRIVATE LIMITED	Director	13/09/2012	13/09/2012	-	Active	NO
8	U70200MH2012PTC235662	TRIDEV VAASTU PRIVATE LIMITED	Director	13/09/2012	13/09/2012	-	Active	NO

Name :

Mrs. Hozefa Shiraz Rajkotwala

Designation :

Director

Address :

R/12, Dalal Estate, Lamington Road, Mumbai – 400008, Maharashtra, India

Date of Birth/Age :

25.03.1976

Date of Appointment :

17.12.2009

DIN No.:

02798182

KEY EXECUTIVES

Name :	Mr. Sanjay
Designation :	Logistic Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 31.03.2014

Names of Shareholders	No. of Shares	%age
Sudhir Bansilal Navalakha	47500	39.58
Vimala Sudhir Navalakha	12500	10.42
Hozefa Shiraz Rajkotwala	47500	39.58
Shiraz Fazlehussain Rajkotwala	12500	10.42
Total	120000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Exporter of packaging Liners, Closures, Containers and Ancillary Machinery.
Products :	Drum Cap Seals Drum Closures Crimping Tools Induction Seals EPE Liners Induction Machine
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Packaging Liners Closures Containers
Countries :	Far East Middle East Africa
Imports :	Not Divulged
Products :	Packaging Liners Closures Containers
Countries :	Europe China
Terms :
Selling :	Cash, Credit, Cheque and L/C
Purchasing :	Cash Credit, Cheque and L/C

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
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 :

25 (Approximately)

Bankers :

Banker Name	Oriental Bank of Commerce
Branch Address	Kalbadevi Branch, 17 / 19 Bomanji Master Road, New Silk Bazaar, Kalbadevi, Mumbai - 400002, Maharashtra, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Oriental Bank of Commerce (secured against Stock and Personal Guarantee)	0.000	1.210
Overdraft form Oriental Bank of Commerce (secured against Stock and Personnel Guarantee)	1.864	0.212
ICICI Bank (Against Motor Car)	0.705	0.000
Total	2.569	1.422

Auditors :
Name :	A.D. Jain and Company Chartered Accountants
Address :	380/82, Nana Sunkerseth Smriti Building, Office No. 33, 3rd Floor, J.S.S. Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22073410
E-mail :	info@adjain.com
PAN No.:	AACPJ4949B
Memberships :	Not Available
Collaborators :	Not Available
Related Parties :	Seair Impex Private Limited

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
120000	Equity Shares	Rs.10/- each	Rs. 1.200 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	1.200	1.200	1.200
(b) Reserves & Surplus	2.053	0.268	0.132
(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)	3.253	1.468	1.332
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	2.619	3.433	2.842
(b) Trade payables	4.129	0.452	0.724
(c) Other current liabilities	1.740	0.247	0.435
(d) Short-term provisions	1.031	0.226	0.118
Total Current Liabilities (4)	9.519	4.358	4.119
TOTAL	12.772	5.826	5.451
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.978	1.097
(ii) Intangible Assets	1.883	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)	0.047	0.039	0.009
(d) Long-term Loan and Advances	1.025	0.275	2.551
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2.955	1.292	3.657
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.364	0.534	0.819
(c) Trade receivables	6.056	0.940	0.271
(d) Cash and cash equivalents	0.391	0.427	0.150
(e) Short-term loans and advances	2.981	2.586	0.485
(f) Other current assets	0.025	0.047	0.069
Total Current Assets	9.817	4.534	1.794
TOTAL	12.772	5.826	5.451

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	96.674	27.505	28.200
		Other Income	0.182	0.345	0.136
		TOTAL	96.856	27.850	28.336
Less	EXPENSES
		Cost of Materials Consumed	0.000	0.000	24.614
		Purchases of Stock-in-Trade	84.461	22.044	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.171	0.284	(0.819)
		Employees benefits expense	3.105	2.227	1.589
		Other expenses	5.894	2.472	2.122
		TOTAL	93.631	27.027	27.506
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		3.225	0.823	0.830
Less	FINANCIAL EXPENSES		0.181	0.358	0.345
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		3.044	0.465	0.485
Less/ Add	DEPRECIATION/ AMORTISATION		0.423	0.285	0.345
	PROFIT BEFORE TAX		2.621	0.180	0.140
Less	TAX		0.837	0.061	(0.002)
	PROFIT AFTER TAX		1.784	0.119	0.142
	EARNINGS IN FOREIGN CURRENCY
		Foreign Exchange Earned	95.967	26.862	0.000
		Commission Earnings	0.000	0.000	0.000
		Other Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		95.967	26.862	0.000
	Earnings Per Share (Rs.)		14.87	1.00	1.18

Expected Sales (2014-15) : Rs. 120.000 Million

The above information has been parted by Mr. Sanjay.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.85	0.43	0.50
Operating Profit Margin (PBDIT / Sales)	(%)	3.34	2.99	2.94
Return on Total Assets (PBT/Total Assets}	(%)	20.60	3.11	2.57
Return on Investment (ROI) (PBT/Networth)		0.81	0.12	0.11
Debt Equity Ratio (Total Debt /Networth)		0.81	2.34	2.13
Current Ratio (Current Asset/Current Liability)		1.03	1.04	0.44

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	1.200	1.200	1.200
Reserves & Surplus	0.132	0.268	2.053
Net worth	1.332	1.468	3.253
long-term borrowings	0.000	0.000	0.000
Short term borrowings	2.842	3.433	2.619
Total borrowings	2.842	3.433	2.619
Debt/Equity ratio	2.134	2.339	0.805

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	28.200	27.505	96.674
		-2.465	251.478

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	28.200	27.505	96.674
Profit	0.142	0.119	1.784
	0.50%	0.43%	1.85%

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 three 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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Hozefa Rajkotwala	0.033	1.738
Sudhir Navalakha	0.017	0.273
Total	0.050	2.011

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10325188	03/12/2011	3,000,000.00	Oriental Bank of Commerce	Kalbadevi Branch, 17 / 19 Bomanji Master Road,, N  ew Silk Bazaar, Kalbadevi, Mumbai, Maharashtra - 4  00002, INDIA	B28566701

* Date of charge modification

FIXED ASSETS

• Cooling Systems
• Computer
• Motor Car
• Scooter-Honda Activa
• Scooter-Suzuki

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.62.34
UK Pound	1	Rs.92.64
Euro	1	Rs.68.12

INFORMATION DETAILS

Information Gathered by :	SNJ
Analysis Done by :	KRN
Report Prepared by :	RNK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		43

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.