MIRA INFORM REPORT

Report No. :	321049
Report Date :	09.05.2015

IDENTIFICATION DETAILS

Name :	COATINGS SPECIALITIES (INDIA) LIMITED
Registered Office :	Unit No. 202, 2^nd Floor, Welspun House, Kamala City, Senapati Bapat Marg, Lower Parel (west), Mumbai – 400013, Maharashtra
Tel No :	91-22-24938687 / 91-22-40016500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.11.1976
Com. Reg. No.:	11-020745
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U65990MH1978PLC020745
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMR14817F
PAN No.: [Permanent Account No.]	AACCC2732N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Trader of Specialty Chemicals.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 550000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. 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 DENIED

Management non co-operative (91-22-40016500)

LOCATIONS

Registered Office :	Unit No. 202, 2^nd Floor, Welspun House, Kamala City, Senapati Bapat Marg, Lower Parel (west), Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-24938687 / 91-22-40016500
Fax No.:	91-22-2494886 / 91-22-24955657
E-Mail :	admin@coatlingspl.co.in admin@danienterprises.co.in

DIRECTORS

As on : 12.09.2014

Name :

Mr. Jalaj Ashwin Dani

Designation :

Director

Address :

Home Villa CHS 48, K Sanghi Path Gamdevi, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

20.10.1969

Date of Appointment :

01.06.1993

DIN No.:

00019080

Voter ID No.:

MT /04/024/204120

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	U73100MH1983PTC031318	S C DANI RESEARCH FOUNDATION PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
2	U65990MH1981PTC025949	DANI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Amalgamated	NO
3	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
4	U65990MH1980PTC023336	DANI TRADING AND INVESTMENTS Private LIMITED	Director	01/06/1993	01/06/1993	-	Amalgamated	NO
5	L99999MH1984PLC085950	DANI FINLEASE LIMITED	Director	25/01/1994	25/01/1994	-	Active	NO
6	U65921DL1984PLC019402	DANI FINLEASE LIMITED	Director	25/01/1994	25/01/1994	-	Not Available for eFiling	NO
7	U65990MH1981PTC025831	DANI CAPITAL AND INVESTMENTS COMPANY PRIVATE LIMITED	Director	24/08/1995	24/08/1995	-	Amalgamated	NO
8	U99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	30/01/1999	30/01/1999	-	Active	NO
9	U65991MH1994PTC078880	JM FINANCIAL TRUSTEE COMPANY PRIVATE LIMITED	Director	19/09/2001	19/09/2001	-	Active	NO
10	U15136KA1996PTC021007	MTR FOODS Private LIMITED	Director	03/09/2003	03/09/2003	03/04/2007	Active	NO
11	L28992MH1991PLC168235	HITECH PLAST LIMITED	Director	12/09/2004	12/09/2004	-	Active	NO
12	U74140MH1997NPL111167	YOUNG PRESIDENTS ORGANIZATION (MUMBAI CHAPTER)	Director	01/07/2013	01/07/2006	06/12/2014	Active	NO
13	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	19/09/2008	20/08/2007	-	Active	NO
14	U45400MH2007PLC175925	MAXBHUMI DEVELOPERS LIMITED	Director	22/02/2008	29/01/2008	-	Active	NO
15	U65923MH2010PTC201679	VIJAL HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	05/04/2010	05/04/2010	-	Active	NO
16	U65921MH2010PTC207201	HAISH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	27/02/2012	05/02/2011	-	Active	NO
17	U65191MH2012PTC230704	SMITI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	18/06/2012	18/06/2012	-	Active	NO
18	U24110MH1979PLC031289	PRAGATI CHEMICALS LIMITED	Director	04/09/2013	26/07/2012	-	Active	NO
19	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	09/09/2013	15/03/2013	-	Amalgamated	NO
20	U51900MH2013PTC243068	HYDRA TRADING PRIVATE LIMITED	Director	07/05/2013	07/05/2013	-	Active	NO
21	U24110MH2011PTC220557	ASIAN PAINTS PPG Private Limited	Director appointed in casual vacancy	14/10/2013	14/10/2013	-	Active	NO
22	AAA-1197	PARJANYA COMMERCIALS LLP	Designated Partner	10/08/2010	10/08/2010	01/06/2014	Active	NO
23	AAB-1547	CRONUS MERCHANDISE LLP	Designated Partner	08/10/2012	08/10/2012	-	Active	NO

Name :

Mr. Ina Ashwin Dani

Designation :

Chairman

Address :

Home Villa CHS 48, K Sanghi Path Gamdevi, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

19.03.1942

Date of Appointment :

31.03.1998

DIN No.:

00053695

Voter ID No.:

MT/04/024/204121

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	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	22/02/1979	22/02/1979	-	Active	NO
2	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	12/11/1979	12/11/1979	25/03/2013	Amalgamated	NO
3	U67120MH1979PTC021907	DANI ENTERPRISES PRIVATE LIMITED	Director	17/11/1979	17/11/1979	-	Amalgamated	NO
4	U65990MH1988PTC050154	RANGMEET INVESTMENTS Private LIMITED	Director	23/12/1988	23/12/1988	-	Amalgamated	NO
5	U65922MH1988PTC050152	OMEGA PROPERTIES PRIVATE LIMITED	Director	28/12/1988	28/12/1988	22/08/2013	Amalgamated	NO
6	U65990MH1978PTC020746	DANI SECURITIES Private LIMITED	Director	09/05/1992	09/05/1992	-	Amalgamated	NO
7	U67120MH1985PTC035633	HIREN HOLDINGS PRIVATE LIMITED	Director	01/10/1993	01/10/1993	22/08/2013	Active	NO
8	U67120MH1983PTC029562	PRAGATI MARKETING PRIVATE LIMITED	Director	02/04/1996	02/04/1996	-	Strike off	NO
9	U65990MH1981PTC025949	DANI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	31/03/1998	31/03/1998	-	Amalgamated	NO
10	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	31/03/1998	31/03/1998	-	Active	NO
11	U65990MH1980PTC023336	DANI TRADING AND INVESTMENTS Private LIMITED	Director	31/03/1998	31/03/1998	-	Amalgamated	NO
12	L99999MH1984PLC085950	DANI FINLEASE LIMITED	Director	25/06/1998	25/06/1998	-	Active	NO
13	U65921DL1984PLC019402	DANI FINLEASE LIMITED	Director	25/06/1998	25/06/1998	-	Not Available for eFiling	NO
14	U24200TN2008PTC067561	Suryakant Paint Accessories Private Limited	Director	21/07/2009	08/05/2008	-	Under Process of Striking off	NO
15	L28992MH1991PLC168235	HITECH PLAST LIMITED	Director	04/09/2010	30/01/2010	-	Active	NO
16	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	24/06/2011	27/07/2010	21/10/2013	Active	NO
17	U65923MH2011PTC214070	Isis Holding and Trading Company Private Limited	Managing director	28/02/2013	26/02/2011	-	Active	NO
18	U65191MH2012PTC230704	SMITI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	08/05/2012	08/05/2012	25/06/2012	Active	NO
19	U65923MH2012PTC230703	RAYIRTH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	08/05/2012	08/05/2012	-	Active	NO
20	U80904MH2012PTC235386	ISIS SKILLS DEVELOPMENT PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO
21	U51101MH2013PTC242927	CANES VENATICI TRADING PRIVATE LIMITED	Director	04/05/2013	04/05/2013	-	Active	NO
22	U65900MH2013PTC245053	RITUH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	01/07/2013	01/07/2013	-	Active	NO
23	U65923MH2013PTC245582	AVINASH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	12/07/2013	12/07/2013	-	Active	NO
24	U99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Additional director	18/02/2015	18/02/2015	-	Active	NO
25	AAB-2395	NARADIYA COMMERCIAL LLP	Designated Partner	03/12/2012	03/12/2012	-	Active	NO

Name :

Mr. Amrish Balkrishna Parikh

Designation :

Director

Address :

5 Shrussti IV Near Parimal Hospital LG Corner, Maninagar, Ahmedabad - 380008, Gujarat, India

Date of Birth/Age :

18.01.1940

Date of Appointment :

29.06.1995

DIN No.:

00101289

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	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	29/06/1995	29/06/1995	-	Active	NO
2	U99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	24/09/2009	06/04/2009	27/01/2014	Active	NO

Name :

Mr. Ashwin Malav Dani

Designation :

Director

Address :

Home Villa CHS 48, K Sanghi Path Gamdevi, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

26.11.1975

Date of Appointment :

12.07.2012

DIN No.:

01184336

Voter ID No.:

MT/04/024/204120

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	L28992MH1991PLC168235	HITECH PLAST LIMITED	Managing director	05/08/2011	30/01/2007	-	Active	NO
2	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	12/07/2012	05/02/2007	-	Active	NO
3	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	19/09/2008	20/08/2007	-	Active	NO
4	U66000MH2008PLC181725	RANGUDYAN INSURANCE BROKING SERVICES LIMITED	Director	29/04/2008	29/04/2008	-	Active	NO
5	U24200TN2008PTC067561	Suryakant Paint Accessories Private Limited	Director	30/04/2008	30/04/2008	-	Under Process of Striking off	NO
6	U65923MH2011PTC214070	Isis Holding and Trading Company Private Limited	Director	13/02/2013	26/02/2011	-	Active	NO
7	U25202MH1986PLC038626	CLEAR MIPAK PACKAGING SOLUTIONS LIMITED	Director	11/08/2012	04/02/2012	-	Active	NO
8	U80904MH2012PTC235386	ISIS SKILLS DEVELOPMENT PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO
9	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	09/09/2013	15/03/2013	-	Amalgamated	NO
10	U51101MH2013PTC242927	CANES VENATICI TRADING PRIVATE LIMITED	Director	04/05/2013	04/05/2013	-	Active	NO
11	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	26/06/2014	21/10/2013	-	Active	NO
12	AAB-2395	NARADIYA COMMERCIAL LLP	Designated Partner	03/12/2012	03/12/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.09.2014

Names of Shareholders	No. of Shares
Geetanjali Trading and Investments Private Limited, India	49700
Ashwin S. Dani	50
Ina A. Dani	50
Jalaj A. Dani	50
Malav A. Dani	50
Dusara Parsottam Bhupendra	50
Jatin R. Singh	50
Total	50000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	99.60
Directors or relatives of Directors	0.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Specialty Chemicals.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Not Divulged

Bankers :

Banker Name	Kotak Mahindra bank Limited
Branch Address	36-38A, Nariman Bhavan, 227, D, Nariman point, Mumbai – 400021, 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
Indian rupee loan from banks	37.355	38.377
Total	37.355	38.377

Auditors :
Name :	Deepak Shah and Company Chartered Accountants
Address :	401, Maker Bahvan – 3, 21, New Marine Lines, Mumbai – 400020, Maharashtra, India
PAN No.:	AAGPS7958D
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary :	Rangudyan Insurance Broking Services Limited U66000MH2008PLC1811725
Holding Company :	Geetanjali Trading and Investments Private Limited
Associate :	Clear Mipak Packaging Solutions Limited Dani Finlease Limited

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million
450000	Preference Shares	Rs.10/- each	Rs. 4.500 Million
	Total		Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 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	0.500	0.500	0.500
(b) Reserves & Surplus	191.439	159.518	148.921
(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)	191.939	160.018	149.421
(3) Non-Current Liabilities
(a) long-term borrowings	10.357	44.825	25.100
(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)	10.357	44.825	25.100
(4) Current Liabilities
(a) Short term borrowings	37.355	38.377	38.811
(b) Trade payables	35.103	26.023	37.284
(c) Other current liabilities	36.877	16.049	32.692
(d) Short-term provisions	2.198	3.776	17.866
Total Current Liabilities (4)	111.533	84.225	126.653
TOTAL	313.829	289.068	301.174
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	23.212	24.948	27.082
(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	37.658	35.658	51.831
(c) Deferred tax assets (net)	2.404	4.217	4.321
(d) Long-term Loan and Advances	33.369	15.903	32.315
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	96.643	80.726	115.549
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	77.851	66.279	64.954
(c) Trade receivables	135.089	139.395	105.555
(d) Cash and cash equivalents	1.942	1.198	4.719
(e) Short-term loans and advances	2.064	1.045	10.148
(f) Other current assets	0.240	0.425	0.249
Total Current Assets	217.186	208.342	185.625
TOTAL	313.829	289.068	301.174

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	524.239	489.610	399.429
		Other Income	2.780	3.024	5.996
		TOTAL	527.019	492.634	405.425
Less	EXPENSES
		Cost of Materials Consumed	403.654	374.061	299.407
		Employees benefits expense	20.048	58.232	53.241
		Other expenses	41.585	28.357	32.111
		TOTAL	465.287	460.650	384.759
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		61.732	31.984	20.666
Less	FINANCIAL EXPENSES		5.710	9.064	10.807
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		56.022	22.920	9.859
Less/ Add	DEPRECIATION/ AMORTISATION		1.123	1.370	1.731
	PROFIT/(LOSS) BEFORE TAX		54.899	21.550	8.128
Less	TAX		22.255	8.291	-0.563
	PROFIT/(LOSS) AFTER TAX		32.644	13.259	8.691
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		84.237	76.856	73.413
Less	APPROPRIATIONS
		Transfer to General Reserve	3.264	1.326	0.869
		Transfer to Special Reserve	0.000	2.652	1.738
		Provision for Diminution	0.000	1.900	2.641
		TOTAL	3.264	5.878	5.248
	BALANCE CARRIED TO THE B/S		113.617	84.237	76.856
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	37.551	38.537	29.204
		Commission Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		37.551	38.537	29.204
	IMPORTS
		Chemical Traded Goods	2.347	0.585	267.243
		Other Traded Goods	3.996	5.614	3.291
		Raw Material	0.000	0.000	0.857
		Chemical Traded Goods	2.347	0.585	267.243
	TOTAL IMPORTS		6.343	6.199	271.391
	Earnings Per Share (Rs.)		6.19	2.69	173.83

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	6.23	2.71	2.18
Operating Profit Margin (PBDIT / Sales)	(%)	11.78	6.53	5.17
Return on Total Assets (PBT/Total Assets}	(%)	20.05	8.65	3.32
Return on Investment (ROI) (PBT/Networth)		0.29	0.13	0.05
Debt Equity Ratio (Total Debt /Networth)		0.25	0.52	0.43
Current Ratio (Current Asset/Current Liability)		1.95	2.47	1.47

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	0.500	0.500	0.500
Reserves & Surplus	148.921	159.518	191.439
Net worth	149.421	160.018	191.939
long-term borrowings	25.100	44.825	10.357
Short term borrowings	38.811	38.377	37.355
Total borrowings	63.911	83.202	47.712
Debt/Equity ratio	0.428	0.520	0.249

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	399.429	489.610	524.239
		22.577	7.073

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	399.429	489.610	524.239
Profit	8.691	13.259	32.644
	2.18%	2.71%	6.23%

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

BUSINESS REVIEW

OPERATIONS

During the year, Net revenue has increased to Rs. 527.019 Million from Rs. 492.634 Million previous year, registering a growth of 7% as compared to previous year. The profits before tax of the company for the year has improved to Rs. 54.899 Million compared to previous year Rs. 215.50 Million registering growth of 155%. The performance is the result of the initiative taken by the company in developing market for new product lines jointly with customers and suppliers. The Directors are glad to report that they are confident of maintaining this accelerated growth in trading division during the current year.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	10.357	44.825
Total	10.357	44.825

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10013429	03/06/2011 *	40,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT,, MUMBAI, Maharashtra - 400021, INDIA	B14736920
2	90241424	26/02/2015 *	120,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, INDIA	C47170923

* Date of charge modification

FIXED ASSETS

Tangible Assets

• Office Equipments
• Furniture and Fixtures
• Motor Car
• Electrical Installation
• Office Equipment
• Fax machine
• Mobile Phone
• Xerox Copier
• Computer
• Air Conditioner
• Plant and Machinery
• Laboratory Equipments
• Factory Equipment

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.64.04
UK Pound	1	Rs.99.03
Euro	1	Rs.71.76

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	RAS
Report Prepared by :	RNK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		46

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.