MIRA INFORM REPORT

Report No. :	322314
Report Date :	25.05.2015

IDENTIFICATION DETAILS

Name :	KRITI AUTO AND ENGINEERING PLASTICS PRIVATE LIMITED
Registered Office :	Chetak Chambers, 14, RNT Marg, Indore-452001, Madhya Pradesh
Tel. No.:	91-731-2719100 / 2704716 / 2719126/2719191
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.03.2007
Com. Reg. No.:	10-019323
Capital Investment / Paid-up Capital :	Rs. 38.850 Million
CIN No.: [Company Identification No.]	U25206MP2007PTC019323
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCK1205H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Moulded Plastic Components for Automobiles.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 220000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by the company from its two years of operation. However, trade relations are reported as fair. Business is active. Payments terms are reported as slow but correct. The company can be considered for business dealings with some caution.

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

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. Atul Parikh
Designation :	Finance Head
Contact No.:	91-731-2704716
Date :	14.05.2015

LOCATIONS

Registered Office :	Chetak Chambers, 14, RNT Marg, Indore-452001, Madhya Pradesh, India
Tel. No.:	91-731-2719100 / 2704716 / 2719126/2719191
Fax No.:	91-731-2704506 / 4042118
E-Mail :	cs@kritiindia.com info@kritiindia.com
Website :	www.kritiindia.com
Location :	Owned
Factory :	Ranjangaon, Pune-412220, Maharashtra, India

DIRECTORS

As on 25.09.2014

Name :	Mr. Shiv Singh Mehta
Designation :	Director
Address :	“Shardool”, 20/4 Yashwant Niwas Road, Indore, Madhya Pradesh, India
Date of Birth/Age :	03.03.1954
Qualification :	B.E., MBA
Date of Appointment :	01.03.2007
DIN No.:	00023523
Name :	Mr. Saurabh Singh Mehta
Designation :	Director
Address :	“Shardool”, 20/4 Yashwant Niwas Road, Indore, Madhya Pradesh, India
Date of Birth/Age :	29.07.1981
Date of Appointment :	01.03.2007
DIN No.:	00023591
Name :	Mr. Manoj Fadnis
Designation :	Director
Address :	15, HIG, Vijay Nagar, Indore, Madhya Pradesh, India
Date of Birth/Age :	16.07.1962
Qualification :	FCA
Date of Appointment :	26.12.2009
DIN No.:	01087055
Name :	Mrs. Devki Hirawal
Designation :	Director
Address :	A -1501, Lake Castel, Hiranandani Garden, Powai, Mumbai , Maharashtra, India
Date of Birth/Age :	29.08.1985
Date of Appointment :	12.11.2013
DIN No.:	06758395

KEY EXECUTIVES

Name :	Mr. Atul Parikh
Designation :	Finance Head

MAJOR SHAREHOLDERS

As on 25.09.2014

Names of Shareholders	No. of Shares
Shiv Singh Mehta (As Benificiary Holder)	1000
Purnima Mehta (As Benificiary Holder)	1000
Kriti Industries (India) Limited, India	3883000
Total	3885000

As on 25.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Moulded Plastic Components for Automobiles.

Products :

Item Code No.	Product Description
87081090	Engineering Plastic Products

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• European Countries
• Germany
• France
• Italy
• Turkey
• Cyprus
• Greece
• Belgium
• Austria

Imports :

Not Available

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

L/C, Cash and Credit

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 :

End Users and OEM’s

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 :

500 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch Address :	Commercial Branch, A.B. Road, Near G.P.O., Indore - 452001, Madhya Pradesh, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWING
Rupee term loans from banks	28.281	21.219
Total	28.281	21.219

Auditors :
Name :	R. D. Asawa and Company Chartered Accountants
Address :	Indore, Madhya Pradesh, India
PAN No.:	ADEPA3451A
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	Kriti Industries (India) Limited CIN No.:L25206MP1990PLC005732

CAPITAL STRUCTURE

As on 25.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3885000	Equity Shares	Rs.10/- each	Rs. 38.850 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	38.850	38.850	38.850
(b) Reserves & Surplus	27.615	37.785	50.575
(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)	66.465	76.635	89.425
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	9.294	9.896	10.194
(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)	9.294	9.896	10.194
(4) Current Liabilities
(a) Short term borrowings	31.281	21.129	25.192
(b) Trade payables	26.762	31.466	58.410
(c) Other current liabilities	2.296	2.080	4.897
(d) Short-term provisions	0.141	0.144	5.293
Total Current Liabilities (4)	60.480	54.819	93.792
TOTAL	136.239	141.350	193.411
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	59.602	64.194	68.432
(ii) Intangible Assets	1.273	2.971	4.668
(iii) Capital work-in-progress	0.000	0.000	0.274
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.623	1.623	1.598
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	62.498	68.788	74.972
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	28.290	35.128	44.438
(c) Trade receivables	43.161	34.851	66.009
(d) Cash and cash equivalents	0.955	0.892	0.812
(e) Short-term loans and advances	0.153	0.227	0.292
(f) Other current assets	1.182	1.464	6.888
Total Current Assets	73.741	72.562	118.439
TOTAL	136.239	141.350	193.411

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	117.455	129.039	243.371
Less	TOTAL EXPENSES	121.817	135.027	234.571
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(4.362)	(5.988)	8.800
Less/ Add	DEPRECIATION/ AMORTISATION	6.408	6.466	6.480
	PROFIT/ (LOSS) BEFORE TAX	(10.770)	(12.454)	2.320
Less	TAX	(0.600)	0.336	0.524
	PROFIT/ (LOSS) AFTER TAX	(10.170)	(12.790)	1.796
	Earnings / (Loss) Per Share (Rs.)	(2.62)	(3.29)	0.46

Particulars	31.03.2015
Sales Turnover (Approximately)	117.400

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
Net Profit Margin (PAT / Total Income)	(%)	(8.66)	(9.91)	0.74
Return on Total Assets (PBT/Total Assets}	(%)	(7.91)	(8.81)	1.20
Return on Investment (ROI) (PBT/Networth)		(0.16)	(0.16)	0.03
Debt Equity Ratio (Total Debt /Networth)		0.47	0.28	0.28
Current Ratio (Current Asset/Current Liability)		1.22	1.32	1.26

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	38.850	38.850	38.850
Reserves & Surplus	50.575	37.785	27.615
Net worth	89.425	76.635	66.465
long-term borrowings	0.000	0.000	0.000
Short term borrowings	25.192	21.129	31.281
Total borrowings	25.192	21.129	31.281
Debt/Equity ratio	0.282	0.276	0.471

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	243.371	129.039	117.455
		(46.978)	(8.977)

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	243.371	129.039	117.455
Profit	1.796	(12.790)	(10.170)
	0.74%	(9.91%)	(8.66%)

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	Yes
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 four years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	Yes
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

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Land
• Buildings
• Factory building
• Plant and equipment
• Factory equipments
• Other plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Goodwill
• Computer software

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.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.