MIRA INFORM REPORT

Report No. :	315246
Report Date :	30.03.2015

IDENTIFICATION DETAILS

Name :	CHANDRA KATTHA INDUSTRIES PRIVATE LIMITED (w.e.f.31.08.1990)
Formerly Known As :	SUBHASH CHAND DINESH CHAND KATTHA AND ALLIED INDUSTRIES PRIVATE LIMITED
Registered Office :	Kotwali Road, Najibabad, Bijnore – 246763, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.07.1970
Com. Reg. No.:	20-003349
Capital Investment / Paid-up Capital :	Rs. 6.550 Millions
CIN No.: [Company Identification No.]	U36109UP1970PTC003349
TAN No.: [Tax Deduction & Collection Account No.]	LKNC05131A
PAN No.: [Permanent Account No.]	AABCC4507E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Kattha.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred huge accumulated losses which has eroded net worth of the company. Liquidity position of the company in under pressure. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and secured 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.

LOCATIONS

Registered Office/ Factory :	Kotwali Road, Najibabad, Bijnore – 246763, Uttar Pradesh, India
Tel. No.:	91-1341-230200/ 230111
Mobile No.:	91-9412856317 (Mr. Pradeep Maheshwari)
Fax No.:	91-1341-230138
E-Mail :	rakeshkumar@chandrakattha.com singhal.ruchin@gmail.com ruchin.singhal@sancharnet.in chetn0006@gmail.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Rakesh Kumar Agarwal
Designation :	Managing director
Address :	Chandra House, Station Road, Najibabad, Bijnor – 246763, Uttar Pradesh, India
Date of Birth/Age :	19.06.1951
Date of Appointment :	01.11.1979
DIN No.:	00933044
Name :	Mr. Mithlesh Agarwal
Designation :	Director
Address :	Chandra House, Station Road, Najibabad, Bijnor – 246763, Uttar Pradesh, India
Date of Birth/Age :	01.06.1955
Date of Appointment :	07.10.2004
DIN No.:	00992905

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Rakesh Kumar	410
Rakesh Kumar HUF	6613
Mithlesh Agarwal	7671
Akshat Agarwal	50626
Pallavi Agarwal	50
Prachi Agarwal	50
S.G.E Services Private Limited, India	80
Total	65500

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Kattha
Products :	Kattha
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Bank of Baroda, Station Road, Najibabad - 246763, Uttar Pradesh, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
HDFC Car Loan Term Loan 6/1222	0.103	0.447
Short-term borrowings
Working capital loans and cash credit accounts with Bank of Baroda Cash Credit – Najibabad	43.006	43.222
Cash Credit – Delhi	2.473	2.439
Total	45.582	46.108
NOTE: LONG-TERM BORROWINGS Term Loan for purchase of Car from HDFC, Najibabad, outstanding Rs 0.550 Million (Previous year Rs.0.911 Million) carrying interest @ 11.50%, is repayment in 36 monthly instalments of Rs 0.037 Million each along with Interest and is secured by hypothecation of Car SHORT TERM BORROWINGS Working Capital loans are secured by first charge, ranking pari-passu, in favour of the Bank on all current assets Company, present and future and on the entire fixed assets of the company present and future, wherever situated. Unconditional and irrevocable personal guarantee of Rakesh Kumar Agarwal Managing Director, Mithlesh Agarwal, Director of the Company, Akshat Agarwal and Corporate Guarantee of Chandra Beverages Private Limited Najibabad. Equitable Mortgage of the Factory Land and Building at khasra no 210 & 211 situated at Village Daryiapur, Kotwali Road Najibabad measuring 0 217 Hectare standing in the name of Company. Equitable Mortgage of the Factory Land and Building at khasra no 77 & 157mt, 165mins situated Village Chhaper, Kotwali Road, Najibabad measuring 0.481 Hectare standing in the name of Company.

Banking Relations :	--
Auditors :
Name :	SSRA and Company Chartered Accountants
Address :	Bharat Complex, Kotwali Road, Najibabad – 246763, Uttar Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AACFS6403P
Memberships :	--
Collaborators :	--
Companies controlled by Directors/ Relatives and Firms controlled by Directors/Relatives :	· Ganesh Roadlines · Shiva Transport Company · Rakesh Kumar Agarwal and Sons

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
197500	Equity Shares	Rs. 100/- each	Rs. 19.750 Millions
2500	Preference Shares	Rs. 100/- each	Rs. 0.250 Million
	Total		Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
65500	Equity Shares	Rs. 100/- each	Rs. 6.550 Millions

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	6.550	6.550	6.550
(b) Reserves & Surplus	(28.349)	(27.907)	8.208
(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)	(21.799)	(21.357)	14.758
(3) Non-Current Liabilities
(a) long-term borrowings	0.103	0.464	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	20.506	13.481	8.579
(d) long-term provisions	2.765	2.719	2.247
Total Non-current Liabilities (3)	23.374	16.664	10.826
(4) Current Liabilities
(a) Short term borrowings	45.479	45.661	43.851
(b) Trade payables	53.922	41.917	36.722
(c) Other current liabilities	2.954	2.948	3.766
(d) Short-term provisions	0.828	0.271	0.525
Total Current Liabilities (4)	103.183	90.797	84.864
TOTAL	104.758	86.104	110.448
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.022	14.195	7.856
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.557	6.017
(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)	0.058	0.043	0.011
(d) Long-term Loan and Advances	7.576	8.272	27.166
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	20.656	23.067	41.050
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	67.566	43.868	52.184
(c) Trade receivables	11.428	14.614	11.542
(d) Cash and cash equivalents	5.108	4.555	5.672
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	84.102	63.037	69.398
TOTAL	104.758	86.104	110.448

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES
Income	266.689	241.545	195.317
Other Income	0.518	0.431	0.314
TOTAL	267.207	241.976	195.631
EXPENSES
Cost of Materials Consumed		219.776	149.538
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		8.089	3.763
Employees benefits expense		13.622	12.232
Other expenses		28.78	22.353
TOTAL	257.987	270.267	187.886
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (	9.220	(28.291)	7.745
FINANCIAL EXPENSES	7.470	5.792	6.118
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.750	(34.083)	1.627
DEPRECIATION/ AMORTISATION	2.198	2.063	1.019
PROFIT/ (LOSS) BEFORE TAX	(0.448)	(36.146)	0.607
TAX	(0.006)	(0.031)	0.122
PROFIT/ (LOSS) AFTER TAX	(0.442)	(36.114)	0.486
EARNINGS IN FOREIGN CURRENCY
Export Earnings	NA	8.293	4.583
IMPORTS
Raw Materials	NA	219.776	149.538
Consumable Store	NA	0.989	0.908
TOTAL IMPORTS	NA	220.765	150.446
Earnings / (Loss) Per Share (Rs.)	6.75	(551.36)	7.42

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(0.17)	(14.95)	0.25
Operating Profit Margin (PBIDT/Sales)	(%)	3.46	(11.71)	3.97
Return on Total Assets (PBT/Total Assets}	(%)	(0.43)	(42.27	0.58
Return on Investment (ROI) (PBT/Networth)		0.02	1.69	0.04
Debt Equity Ratio (Total Debt /Networth)		(2.09)	(2.16)	2.97
Current Ratio (Current Asset/Current Liability)		0.82	0.69	0.82

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	6.550	6.550	6.550
Reserves & Surplus	8.208	((27.907)	(28.349)
Net worth	14.758	(21.357)	(21.799)
long-term borrowings	0.000	0.464	0.103
Short term borrowings	43.851	45.661	45.479
Total borrowings	43.851	46.125	45.582
Debt/Equity ratio	2.971	(2.160)	(2.091)

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	195.317	241.545	266.689
		23.668	10.410

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	195.317	241.545	266.689
Profit	0.486	(36.114)	(0.442)
	0.25%	(14.95%)	(0.17%)

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	--
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

OPERATIONS

During the year under reference, the Sales and Other Income of the company were Rs. 267.207 Million as compared with Rs. 241.976 Million in previous year. There is loss of Rs. 0.458 Million during year where as there is loss of Rs. 36.146 Million in previous year.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10444980	01/08/2013	10,000,000.00	BANK OF BARODA	STATION ROAD, NAJIBABAD, UTTAR PRADESH - 246763, I NDIA	B83037846
2	10332265	21/01/2012	10,000,000.00	BANK OF BARODA	STATION ROAD, NAJIBABAD, UTTAR PRADESH - 246763, I NDIA	B30710941
3	10302428	26/07/2011	26,583,000.00	BANK OF BARODA	STATION ROAD, NAJIBABAD, UTTAR PRADESH - 246763, I NDIA	B18889600
4	90275365	22/11/2012 *	45,000,000.00	BANK OR BARODA	STATION ROAD, NAJIBABAD, UTTAR PRADESH - 246763, I NDIA	B64083488

* Date of charge modification

FIXED ASSETS:

· Land

· Agricultural Land

· Building

· Plant and Machinery

· Office Equipment

· Air Conditioner

· Furniture and Fixture

· Laboratory

· Vehicles

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 :

o 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.62.61
UK Pound	1	Rs.92.95
Euro	1	Rs.68.15

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.