MIRA INFORM REPORT

Report No. :	323156
Report Date :	20.05.2015

IDENTIFICATION DETAILS

Name :	VMI PLASTIC PRIVATE LIMITED (w.e.f. 06.06.2011)
Formerly Known As :	SHASTRA PROPERTIES PRIVATE LIMITED
Registered Office :	D-13, S.M.A. Co-operative Industrial Estate Limited, Rajasthan Udyog, G.T. Karnal Road, Delhi -110033
Tel No.:	91-11-49154400
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.10.1996
Com. Reg. No.:	55-082820
Capital Investment / Paid-up Capital :	Rs. 28.671 Million
CIN No.: [Company Identification No.]	U25203DL1996PTC082820
IEC No.:	Not Available
TIN 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 :	Subject is manufacturer of polycarbonate sheet, (Compact –Embossed- Corrugated) and Polycarbonate Bottle.
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

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 and healthy. 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 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 (GENERAL DETAIS)

Name :	Mr. Vipul Mardia
Designation :	Director
Contact No.:	91-9351860002
Date :	18.05.2015

LOCATIONS

Registered Office :	D-13, S.M.A. Co-oprative Industrial Estate Limited, Rajasthan Udyog, G.T. Karnal Road, Delhi -110033, India
Tel. No.:	91-11-49154400
Mobile No.:	91-9350186002 (Mr. Vipul Mardia)
Fax No.:	91-11-49154444
E-Mail :	vmiexport@gmail.com
Location :	Owned
Factory :	Electrical and Electronics Industrial Estate Hosur, Krishnagiri-635109, Tamilnadu, India
Godown :	Survey No. 45/43, Madanyakanahali, Naer Maruti Chitra Mandira, Lakshmipura, Dasanpura, Neelmangaala, Bangalore-562123, Karnataka, India
Marketing Address :	NDM-11, 507, D-Block, 5^th Floor, Netaji Subhash Place, New Delhi -110034, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Mahesh Chand Goyal

Designation :

Director

Address :

E-11/8, Vasant Vihar, New Delhi-110057, India

Date of Birth/Age :

26.06.1956

Date of Appointment :

18.06.1999

DIN No.:

00313104

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	U15412DL1983PTC015552	V.K. ROLLING MILLS PRIVATE LIMITED	Director	15-04-83	15-04-83	-	Strike off	NO
2	U74899DL1983PTC015698	VIDYA METAL MANUFACTURING CO PRIVATE LIMITED	Director	06-10-89	06-10-89	-	Active	NO
3	U70101DL1995PTC068698	MASS ESTATES PRIVATE LIMITED	Director	18-05-95	18-05-95	-	Not Available for eFiling	NO
4	U70101DL1995PTC069698	MASS ESTATES PRIVATE LIMITED	Director	18-08-95	18-08-95	-	Active	NO
5	U25203DL1996PTC082820	VMI PLASTIC PRIVATE LIMITED	Director	18-01-99	18-01-99	-	Active	NO
6	L67120DL1982PLC014448	BIMLA INVESTMENT AND FINANCE LIMITED	Director	15-01-00	15-01-00	-	Active	NO
7	U45201DL2003PTC120450	DKG BUILDWELL PRIVATE LIMITED	Director	18-10-08	18-10-08	31-03-10	Active	NO
8	U74999DL1995PTC067949	PARAMOUNT FINMAN PRIVATE LIMITED	Director	30-09-09	15-04-09	-	Active	NO
9	U27201JK2004PTC002446	ALLIANCE COPPER CONCEPTS PRIVATE LIMITED	Director	26-05-11	26-05-11	-	Active	NO

Name :

Mr. Vipul Praveen Mardia

Designation :

Director

Address :

3/25, Roop Nagar, Delhi-110007, India

Date of Birth/Age :

25.11.1969

Date of Appointment :

31.03.2013

DIN No.:

00313273

Name :

Mr. Nirmal Singh Nota

Designation :

Director

Address :

B-1697, Shastri Nagar, Delhi-110053, India

Date of Birth/Age :

15.07.1969

Date of Appointment :

22.10.2007

DIN No.:

01882640

Name :

Mr. Prashant Goyal

Designation :

Director

Address :

B-8/G-3, Vivek Vihar, New Delhi-110056, India

Date of Birth/Age :

15.06.1979

Date of Appointment :

31.03.2014

DIN No.:

05290072

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	U74899DL1983PTC015698	VIDYA METAL MANUFACTURING CO PRIVATE LIMITED	Director	29-09-12	30-05-12	-	Active	NO
2	U70200DL2012PTC238377	GLORY HOMES PRIVATE LIMITED	Director	04-07-12	04-07-12	-	Active	NO
3	U70200DL2012PTC237842	GOLFGREEN BUILDCON PRIVATE LIMITED	Additional director	31-12-13	31-12-13	-	Active	NO
4	U70101DL1995PTC069698	MASS ESTATES PRIVATE LIMITED	Director	24-09-14	31-03-14	-	Active	NO
5	U25203DL1996PTC082820	VMI PLASTIC PRIVATE LIMITED	Director	30-09-14	31-03-14	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Veen Aggarwa	100
Ravindra Singh	100
Mahesh Chand Goyal	1046100
Preeta Goyal	154800
Mahesh Chand Goyal (HUF)	1596000
Vipul P. Mardia	20000
Shweta Goyal	10000
Sonam Goyal	27500
Abhinav Goyal	12500
Total	2867100

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is manufacturer of polycarbonate sheet, (Compact –Embossed- Corrugated) and Polycarbonate Bottle.
Products :	Polycarbonate Sheet
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	Thailand Saudi Arabia
Terms :
Selling :	L\C
Purchasing :	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
Remark :	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
Remark :	Not Divulged

No. of Employees :

25 (Approximately)

Bankers :

• Bank of India, New Delhi S. M. E. Branch, D-4, Udyog Nagar, Rohtak Road, New Delhi - 110041, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai- 400013, Maharashtra, India

Facilities :

SECURED LOAN

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From Bank for Vehicle Finance	1.923	6.323
Short-term borrowings
Loans From Banks	50.311	17.754
Total	52.234	24.077

Banking Relations :	--
Auditors :
Name :	M. K. Choudhary and Company Chartered Accountants
Address :	401, Padma Tower-II, 22, Rajendra Place, New Delhi-110008, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAKFM1554B
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2867100	Equity Shares	Rs.10/- each	Rs. 26.671 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	28.671	28.671	28.671
(b) Reserves & Surplus	138.844	127.178	122.587
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	27.300	28.100
Total Shareholders’ Funds (1) + (2)	167.515	183.149	179.358
(3) Non-Current Liabilities
(a) long-term borrowings	1.924	20.323	22.155
(b) Deferred tax liabilities (Net)	2.371	5.050	6.157
(c) Other long term liabilities	7.216	6.815	0.000
(d) long-term provisions	1.534	1.306	1.081
Total Non-current Liabilities (3)	13.045	33.494	29.393
(4) Current Liabilities
(a) Short term borrowings	99.603	39.899	50.333
(b) Trade payables	43.725	48.789	63.897
(c) Other current liabilities	3.812	5.153	25.822
(d) Short-term provisions	2.653	1.337	0.699
Total Current Liabilities (4)	149.793	95.178	140.751
TOTAL	330.353	311.821	349.502
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	89.701	93.742	102.518
(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	76.818	70.862	95.680
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.639	0.672	0.791
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	168.158	165.276	198.989
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	81.872	64.276	75.882
(c) Trade receivables	57.582	60.978	50.772
(d) Cash and cash equivalents	10.176	15.040	12.543
(e) Short-term loans and advances	10.261	6.150	11.117
(f) Other current assets	2.304	0.101	0.199
Total Current Assets	162.195	146.545	150.513
TOTAL	330.353	311.821	349.502

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	GROSS TURNOVER	NA	274.700	234.100
	EXPENSES	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	17.684	31.275	NA
Less/ Add	DEPRECIATION/ AMORTISATION	15.697	23.365	NA
	PROFIT BEFORE TAX	1.987	7.910	NA
Less	TAX	-2.252	0.437	NA
	PROFIT AFTER TAX	4.239	7.473	16.779
	EARNINGS IN FOREIGN CURRENCY
	TOTAL EARNINGS	2.575	3.891	1.679
	Earnings Per Share (Rs.)	1.48	2.61	5.85

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.78	3.28	NA
Return on Investment (ROI) (PBT/Networth)		0.01	0.04	1.31
Debt Equity Ratio (Total Debt /Networth)		0.61	0.33	0.40
Current Ratio (Current Asset/Current Liability)		1.08	1.54	1.07

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	28.671	28.671	28.671
Reserves & Surplus	122.587	127.178	138.844
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	27.300	28.100
Net worth	151.258	183.149	195.615
long-term borrowings	22.155	20.323	1.924
Short term borrowings	50.333	39.899	99.603
Total borrowings	72.488	60.222	101.527
Debt/Equity ratio	0.479	0.329	0.519

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From Director, Relatives and Shareholders	0.000	14.001
Short-term borrowings
From Director, Relatives and Shareholders (Including accrued interest)	49.293	22.144
Total	49.293	36.145

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10554229	28/06/2014	1,175,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PANE  L, WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	C46202628
2	10239950	13/05/2013 *	5,408,000.00	BANK OF INDIA	NEW DELHI SME BRANCH, D-183,, NEAR PEERAGARHI MET  RO STATION, ROHTAK ROAD,, NEW DELHI, DELHI - 11008  7, INDIA	B76414556
3	90036084	13/05/2013 *	70,000,000.00	BANK OF INDIA	NEW DELHI SME BRANCH, D-183,, NEAR PEERAGARHI MET  RO STATION, ROHTAK ROAD,, NEW DELHI, DELHI - 11008  7, INDIA	B76414317

FIXED ASSETS

• Plant and Machinery
• Land
• Factory Building
• Plant and Machinery
• Furniture and Fixtures
• 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 :

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.63.69
UK Pound	1	Rs.99.73
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KAR
Report Prepared by :	ASH

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	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.