MIRA INFORM REPORT

Report No. :	320690
Report Date :	05.05.2015

IDENTIFICATION DETAILS

Name :	MITKALP EXIM
Registered Office :	1, Vora House, 50 Bajaj Road, Vile Parle (West), Mumbai – 400056, Maharashtra
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Year of Establishment :	1997
Capital Investment :	Rs.13.873 Million (Provisional)
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader and Importer of all type of Chemicals and Distributors of Coffee (With Amalgamated Bean Coffee Company private Limited)
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established proprietary concern having satisfactory track record. General financial position of the concern is sound. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. The concern can considered normal 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.

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 :	Ms. Rupal Bhatt
Designation :	Finance Manager
Contact No.:	91-22-26105777 / 26100031
Date :	02.05.2015

LOCATIONS

Registered Office :	1, Vora House, 50 Bajaj Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India
Tel. No.:	91-22-26105777 / 26100031
Fax No.:	Not Available
E-Mail :	mitkalp@gmail.com
Area :	126 Sq. ft.
Location :	Owned
Branch Office :	D-15, Phase – IV, Extension IDP Jedimetla, Hyderabad – 500055, Andhra Pradesh, India

SOLE PROPRIETOR

Name :	Mr. Mital Doshi
Designation :	Proprietor
Qualification :	B.Com
Experience :	36 Years

KEY EXECUTIVES

Name :	Ms. Rupal Bhatt
Designation :	Finance Manager

BUSINESS DETAILS

Line of Business :	Trader and Importer of all type of Chemicals and Distributors of Coffee (With Amalgamated Bean Coffee Company private Limited)
Products :	Coffee
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Chemical
Countries :	Thailand China Russia Korea
Terms :	Not Available

GENERAL INFORMATION

Suppliers :

v Gujarat Fluorochemicals Limited

v Aditya Birla Chemicals (Thailand) Limited

v Asian Paints Limited

v K. Uttamlal and Company

v Sonkamal Enterprises Private Limited.

Customers :

v PRG Life Creations

v Deccan Nuraceutsicals Limited

v Avra Laboratories Limited

v UPL Limited

v Viswaat Chemicals Limited

No. of Employees :

10 (Approximately)

Bankers :

Banker Name	Bank of India
Branch Address	S. V. Road, Vile Parle (West), Mumbai, 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)	CC + Non fund Rs. 50.000 Million
Account Operation	Not Divulged
Remarks (If any)	--

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Bhavesh R. Dalal and Company Chartered Accountants
Memberships :	--
Collaborators :	--
Sister Concerns:	v Kalpana Agencies Private Limited v Kuber Capital Services Private Limited

CAPITAL STRUCTURE

As on 31.03.2015

Capital Investment :
Owned :	Rs.13.873 Million (Provisional)
Borrowed :	--
Total :	Rs.13.873 Million (Provisional)

FINANCIAL DATA

[all figures are in Rupees Millions]

PROVISIONAL BALANCE SHEET

SOURCES OF FUNDS			31.03.2015
SHAREHOLDERS FUNDS
1] Proprietor’s Capital			13.873
2] Share Application Money			0.000
3] Reserves & Surplus			13.095
4] (Accumulated Losses)			0.000
NETWORTH			26.968
LOAN FUNDS
1] Secured Loans			2.533
2] Unsecured Loans			8.470
TOTAL BORROWING			11.003
DEFERRED TAX LIABILITIES			0.000
TOTAL			37.971
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			2.493
Capital work-in-progress			0.000
INVESTMENT			0.070
DEFERRED TAX ASSETS			0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		0.000
	Sundry Debtors		154.155
	Cash & Bank Balances		0.338
	Other Current Assets		15.306
	Loans & Advances		4.598
Total Current Assets			174.397
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		132.270
	Other Current Liabilities
	Provisions		6.719
Total Current Liabilities			138.989
Net Current Assets			35.408
MISCELLANEOUS EXPENSES			0.000
TOTAL			37.971

PROVISIONAL PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015
	SALES
		Income	350.318
		Other Income	4.738
		TOTAL	355.056
Less	EXPENSES
		Cost of goods sold	332.206
		Telephone expenses	0.065
		Office expenses	0.031
		Repairs & maintainecne expenses	0.022
		Electricity charges	0.048
		Godown rent	0.595
		Salary paid	1.863
		Maharashtra profession tax	0.002
		Bank commission	0.402
		Computer expenses	0.014
		Bank charges	0.097
		Central sales tax	0.036
		Bombay sales tax	1.412
		Postage & telegrams	0.137
		Maintainence charges	0.012
		Printing & stationery	0.056
		Sales tax paid	0.353
		Stamp duty & registration charges	0.003
		Dalali commission charges	5.415
		Staff welfare expense	0.010
		Books & periodicals	0.008
		Discount	0.002
		Profession tax	0.003
		Insurance charges	0.073
		Audit charges	0.055
		Advertisement	0.009
		Conveyance	0.093
		Professional charges	0.111
		Interest paid	1.214
		Sales promotion charges	0.303
		Travelling expense	0.035
		Bank interest	0.322
		Rent paid	0.012
		Installation charges	0.012
		Service tax on maintainence	(0.002)
		Service charges	(0.018)
		Loss on theft	0.033
		Transport charges	2.889
		Forwarding	0.363
		TOTAL	348.296
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		6.760
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	NET PROFIT		6.760

PROVISIONAL KEY RATIOS

PARTICULARS		31.03.2015
Net Profit Margin (PAT/Sales)	(%)	1.93
Return on Total Assets (PBT/Total Assets}	(%)	3.82
Return on Investment (ROI) (PBT/Networth)		0.25
Debt Equity Ratio (Total Debt/Networth)		0.41
Current Ratio (Current Asset/Current Liability)		1.25

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Proprietor’s Capital		25.864	14.957
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.149	7.204
4] (Accumulated Losses)		0.000	0.000
NETWORTH		26.013	22.161
LOAN FUNDS
1] Secured Loans		0.000	17.459
2] Unsecured Loans		0.000	4.590
TOTAL BORROWING		0.000	22.049
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		26.013	44.210
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	2.683
Capital work-in-progress		0.000	0.000
INVESTMENT		24.090	0.064
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.072	112.828
	Cash & Bank Balances	0.450	0.020
	Other Current Assets	0.001	17.287
	Loans & Advances	1.400	2.247
Total Current Assets		1.923	132.382
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	86.827
	Other Current Liabilities	0.000	4.092
	Provisions	0.000
Total Current Liabilities		0.000	90.919
Net Current Assets		1.923	41.463
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		26.013	44.210

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	242.377	243.031
		Other Income	4.161	5.187
		TOTAL	246.538	248.218
Less	EXPENSES
		Cost of goods sold	228.569	231.804
		Advertisement	0.006	0.005
		Audit Fees	0.025	0.028
		Bad Debts	0.254	0.000
		Bank Charges	0.109	0.107
		Bank commission	0.201	0.263
		Bank Interest	0.617	0.821
		Books and Periodicals	0.004	0.001
		Computer Expenses	0.035	0.011
		Conveyance	0.102	0.094
		Dalali Commission Charges	3.715	3.068
		Discount	0.094	0.010
		Electricity Charges	0.041	0.032
		Godown Rent	0.621	0.482
		Insurances Charges	0.113	0.185
		Interest loan on Car	0.011	0.078
		Interest Paid	0.974	0.649
		Loss on bank truncation	0.690	0.000
		Maharashtra Profession Tax	0.000	0.001
		Maintainence charges	0.012	0.005
		Membership and subscription	0.001	0.000
		Office Expenses	0.019	0.019
		Postage and telegram	0.103	0.106
		Printing and Stationery	0.055	0.053
		Profession Tax	0.025	0.010
		Professional Charges	0.124	0.102
		Rent paid	0.046	0.058
		Repairs and Maintainence Expenses	0.011	0.061
		Salary paid	1.539	1.505
		Sales promotion charges	0.156	0.128
		Sales tax paid	0.020	0.003
		Staff welfare expenses	0.022	0.030
		Stamp duty and registration	0.001	0.003
		Telephone expenses	0.054	0.051
		Transport charges	1.247	0.338
		Services Tax paid	0.000	0.002
		Travelling Expenses	0.063	0.138
		Forwarding	0.242	0.380
		Discount on sales	0.000	0.000
		Other Expenses	0.017	0.035
		TOTAL	239.904	240.666
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		6.634	7.552
Less/ Add	DEPRECIATION/ AMORTISATION		0.299	0.348
	NET PROFIT		6.335	7.204

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	2.61	2.96
Return on Total Assets (PBT/Total Assets}	(%)	329.43	5.33
Return on Investment (ROI) (PBT/Networth)		0.24	0.33
Debt Equity Ratio (Total Debt/Networth)		0.00	0.99
Current Ratio (Current Asset/Current Liability)		0.00	1.46

The above information has been parted by Ms. Rupal Bhatt

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015 (Provisional)
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Proprietor’s Capital	14.957	25.864	13.873
Reserves & Surplus	7.204	0.149	13.095
Net worth	22.161	26.013	26.968
Secured Loans	17.459	0.000	2.533
Unsecured Loans	4.590	0.000	8.470
Total borrowings	22.049	0.000	11.003
Debt/Equity ratio	0.995	0.000	0.408

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015 (Provisional)
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Income	243.031	242.377	350.318
		(0.269)	44.534

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015 (Provisional)
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Income	243.031	242.377	350.318
Profit	7.204	6.335	6.760
	0.030	0.026	0.019

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	Yes
18]	Major customers	Yes
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	No
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

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 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.63.58
UK Pound	1	Rs.97.99
Euro	1	Rs.70.53

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
-- PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.