MIRA INFORM REPORT

Report No. :	314656
Report Date :	30.03.2015

IDENTIFICATION DETAILS

Name :	SABARI PLASTIC PRIVATE LIMITED
Registered Office :	7/139, Jai Shashtri Nagar, Mulund Colony, Mulund (West), Mumbai – 400082, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.03.2002
Com. Reg. No.:	11-135195
Capital Investment / Paid-up Capital :	Rs.0.400 Million
CIN No.: [Company Identification No.]	U25206MH2002PTC135195
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMS34004F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Chemical Equipment and Solutions.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (43)

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

Maximum Credit Limit :	USD 24000
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 fair. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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

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. Narayanan Kavanapilli Nair
Designation :	Director
Contact No.:	91-9821033772
Date :	26.03.2015

LOCATIONS

Registered Office :	7/139, Jai Shashtri Nagar, Mulund Colony, Mulund (West), Mumbai – 400082, Maharashtra, India
Tel. No.:	91-22-27641847/ 48
Mobile No.:	91-9821033772/9821062669 (Mr. K. Narayanan)
Fax No.:	91-22-27641479
E-Mail :	narayanan_47@yahoo.com sabariplastic03@yahoo.com
Website :	www.sabariplastic.com
Area :	2000 Sq. Ft
Location :	Owned
Factory :	A-427/9, TTC Industrial Area, Thane - Belapur Road, MIDC Rabale, Navi Mumbai – 400701, Maharashtra, India.
Location :	Owned

DIRECTORS

As on: 29.09.2014

Name :

Mr. Narayanan Kavanapilli Nair

Designation :

Director

Address :

7 / 139, Jai Shastri Nagar, 4^th Floor, Mulund Colony, Mulund (West), Mumbai - 400082, Maharashtra, India

Date of Birth/Age :

10.11.1947

Qualification :

Post Graduate

Date of Appointment :

15.03.2002

DIN No.:

00400351

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	U25206MH2002PTC135195	SABARI PLASTIC PRIVATE LIMITED	Director	15-03-02	15-03-02	-	Active	NO
2	U85110KL2009PTC024995	PALACE HOSPITAL PRIVATE LIMITED	Director	19-10-11	19-10-11	-	Active	NO

Name :

Mr. Dayaram Hariram Verma

Designation :

Director

Address :

C – 701, Hill View Apartments, L B S Marg, Vikhroli (West), Mumbai - 400083, Maharashtra, India

Date of Birth/Age :

10.09.1964

Qualification :

Post Graduate

Date of Appointment :

15.03.2002

DIN No.:

00400290

Name :

Mr. Piyush Kantilal Gandhi

Designation :

Director

Address :

3/302, Amalfi, Raheja Gardens, LBS Marg, Thane (W), Mumbai – 400604, Maharashtra, India

Date of Birth/Age :

06.11.1969

Qualification :

Graduate

Date of Appointment :

15.03.2002

DIN No.:

00400389

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	U25206MH2002PTC135195	SABARI PLASTIC PRIVATE LIMITED	Director	15-03-02	15-03-02	-	Active	NO
2	U67120MH2005PTC153720	SHAH AND GANDHI CAPITAL SERVICES PRIVATE LIMITED	Director	03-06-05	03-06-05	-	Active	NO

Name :

Mrs. Anindita Harish Mondal

Designation :

Director

Address :

Plot No. 278/1/1, Sai Krupa Society – 1, Beside Priti Appartment, Daman – 396210, Daman and Diu, India

Date of Birth/Age :

02.01.1968

Date of Appointment :

15.03.2002

DIN No.:

02052911

MAJOR SHAREHOLDERS

As on: 29.09.2014

Names of Shareholders	No. of Shares	Percentage
Narayanan Kavanapilli Nair	10000	25.00
Dayaram Hariram Verma	10000	25.00
Piyush Kantilal Gandhi	10000	25.00
Anindita Harish Mondal	10000	25.00
Total	40000	100.00

As on: 29.09.2014

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 :	Manufacturer of Chemical Equipment and Solutions.
Products :	FRP Moulded Wind Mill Covers Sandwich Construction of Blade Parts for Wind Mills Storage Tanks and Reaction Vessels FRP Electric Junction Boxes Water Treatment Plants Fume Extraction System Electrical Panel Boards Scrubbing System Reaction Vessels with Agitator Assembly Tanks with Level Indicator Ladders and Railings Rectangular ETP Tanks FRP Grating and Cable Trays FRP Pipes and Fittings PP/FRP Pressure Vessels PP/FRP Blowers Epoxy Coating and Lining Products ETP Plants
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash, Advance Payment and Credit

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 :

End Users and OME’s

• Enercon India Limited
• EBG India Private Limited
• Thermax Limited
• Tata Chemicals
• Bio Tech Limited

No. of Employees :

30 (Approximately)

Bankers :

Banker Name :	Canara Bank
Branch Address :	Branch Mulund (West), Mumbai – 400082, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	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

• IDBI Bank Limited, Nariman Point, Mumbai, Maharashtra, India
• Janata Bank

Auditors :
Name :	Kiran Nandu and Company Chartered Accountants
Address :	8, Mid Town Plaza, Shivaji Nagar, Wagle Estate, Thane - 400604, Maharashtra, India
Tel. No.:	91-22-25824282
Mobile No.:	91-9821471603
E-Mail :	kiran.nandu@Intassociate.com fcakiran@gmail.com
PAN No.:	AAHPN7514M
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Fiber Plastic Product, Rabale, Navi Mumbai, Maharashtra, India

CAPITAL STRUCTURE

As on: 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.10/- each	Rs.0.400 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.400	0.400	0.400
(b) Reserves & Surplus	8.173	5.267	3.404
(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)	8.573	5.667	3.804
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	1.756
(b) Deferred tax liabilities (Net)	0.000	0.000	0.001
(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	1.757
(4) Current Liabilities
(a) Short term borrowings	1.945	3.445	0.000
(b) Trade payables	61.356	62.773	76.316
(c) Other current liabilities	6.121	2.056	2.202
(d) Short-term provisions	0.705	0.420	0.520
Total Current Liabilities (4)	70.127	68.694	79.038
TOTAL	78.700	74.361	84.599
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.688	5.209	5.662
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.010	0.001	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.009	0.008	0.008
Total Non-Current Assets	4.707	5.218	5.670
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.573	6.022	3.812
(c) Trade receivables	61.944	49.213	62.922
(d) Cash and cash equivalents	0.000	4.528	4.201
(e) Short-term loans and advances	1.701	0.702	0.725
(f) Other current assets	8.775	8.678	7.269
Total Current Assets	73.993	69.143	78.929
TOTAL	78.700	74.361	84.599

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	151.931	84.726
	Other Income	0.311	0.296
	TOTAL (A)	152.242	85.022	194.983
Less	EXPENSES
	Cost of Materials Consumed	103.600	50.423
	Purchases of Stock-in-Trade	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000
	Employees benefits expense	13.246	4.868
	Other expenses	27.814	25.088
	TOTAL (B)	144.660	80.379	189.986
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	7.582	4.643	4.997
Less	FINANCIAL EXPENSES (D)	2.768	1.313	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	4.814	3.330	4.997
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.529	0.635	0.669
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	4.285	2.695	4.328
Less	TAX (I)	1.379	0.833	1.207
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	2.906	1.862	3.121
	Earnings / (Loss) Per Share (Rs.)	73.00	47.00	78.03

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.91	2.20	1.60
Operating Profit Margin (PBDIT/Sales)		4.99	5.48	2.56
Return on Total Assets (PBT/Total Assets}	(%)	5.45	3.62	5.12
Return on Investment (ROI) (PBT/Networth)		0.50	0.48	1.14
Debt Equity Ratio (Total Debt /Networth)		0.23	0.61	0.46
Current Ratio (Current Asset/Current Liability)		1.06	1.01	1.00

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	0.400	0.400	0.400
Reserves & Surplus	3.404	5.267	8.173
Net worth	3.804	5.667	8.573
long-term borrowings	1.756	0.000	0.000
Short term borrowings	0.000	3.445	1.945
Total borrowings	1.756	3.445	1.945
Debt/Equity ratio	0.462	0.608	0.227

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)
Total Income	194.983	85.022	152.242
		(56.395)	79.062

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	194.983	85.022	152.242
Profit	3.121	1.862	2.906
	1.60%	2.19%	1.91%

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	Yes
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

UNSECURED LOAN

(Rs. In Million)

UNSECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Loans and advances from related parties
Anindita Mondal Loan	1.945	1.945
K. Narayanan Loan A/c	0.000	1.500
Total	1.945	3.445

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Plot
• Building
• Furniture and fixtures
• Electric Fittings
• Plant and Machinery
• Air Conditioner
• EPABX System
• Fax Machine
• Bajaj Chetak
• Computer and Systems
• Motor Car

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. 62.60
UK Pound	1	Rs. 92.95
Euro	1	Rs. 68.14

INFORMATION DETAILS

Information Gathered by :	PRP
Analysis Done by :	KAR
Report Prepared by :	JYTK

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
--PROFITABILIRY	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	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		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.