MIRA INFORM REPORT

Report No. :	322689
Report Date :	26.05.2015

IDENTIFICATION DETAILS

Name :	SKYTOUCH CERAMIC PRIVATE LIMITED
Registered Office :	Block No.18, Gayatri Nagar-2, Near Umiya Chowk, Ravapar Road, Morbi – 363641, Gujarat
Mobile No.:	91-7046690009 (Mr. Anil Kagthara)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.10.2013
Com. Reg. No.:	04-077016
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U26955GJ2013PTC077016
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 :	Manufacturer and Exporter of Ceramic Products.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 200
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though, the company was incorporated on 1^st October, 2013. The company has recently commenced its commercial operations. It is engaged into business delaying of manufacturing and exporting of ceramic products. Mr. Anil Kagthara (Accountant) has provided us with the information and he also confirmed that the company has started its commercial operations from February 2015. Trade relation are improving. Business is active. Payment terms are unknown. The company can be considered for business dealings with some cautions.

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

Name :	Mr. Anil Kagthara
Designation :	Accountant
Contact No.:	91-7046690009
Date :	22.05.2015

LOCATIONS

Registered Office :	Block No.18, Gayatri Nagar-2, Near Umiya Chowk, Ravapar Road, Morbi – 363641, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-7046690009 (Mr. Anil Kagthara)
Fax No.:	Not Available
E-Mail :	skytouchcera@gmail.com
Website :	www.skytouchceramic.com
Factory:	Near Pavadiyari Canal, Jetpar Road, At, Shapar, Morbi – 363642, Gujarat, India

DIRECTORS

As on 30.12.2014

Name :	Mr. Hareshkumar Dayalal Kagthara
Designation :	Director
Address :	25-B, Rachna Society, Morbi – 360001, Gujarat, India
Date of Birth/Age :	10.06.1980
Date of Appointment :	01.10.2013
DIN No.:	06541651
Name :	Mr. Hirenbhai Chhaganbhai Chadmiya
Designation :	Director
Address :	Bahuchraji Mandir Sheri, Khareda, Morbi – 363641, Gujarat, India
Date of Birth/Age :	26.03.1989
Date of Appointment :	01.10.2013
DIN No.:	06699803
Name :	Mr. Jayantilal Bhudarbhai Kagathara
Designation :	Director
Address :	Panchvati Soeicty, Near Navyug School, Morbi – 363641, Gujarat, India
Date of Birth/Age :	26.09.1974
Date of Appointment :	01.10.2013
DIN No.:	06699805

KEY EXECUTIVES

Name :	Mr. Anil Kagthara
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.12.2014

Names of Shareholders	No. of Shares
Hareshkumar Dayalal Kagathara	450000
Jayantilal Bhurdarbhai Kagathara	410000
Rahulbhai Mansukbhai Kagathara	300000
Keshavlal Bhudarbhai Kagathara	350000
Amarshibhai Becharbhai Kagathara	250000
Dayabhai Becharbhai Kagathara	390000
Shitalben Hareshbhai Kagathara	300000
Champaben Dayabhai Kagathara	400000
Amrutben Mansukhbhai Kagathara	400000
Pragjiben Becharbhai Kagathara	90000
Jagutiben Narbherambhai Kagathara	210000
Santoshben Ashishkumar Kagathara	200000
Anilbhai Vallabhabhai Kagathara	70000
Krishnaben Jayantilal Kagathara	450000
Bhavanben Keshavlal Kagathara	100000
Dilipbhai Durlabhjibhai Kagathara	100000
Vasantbhai Pragjibhai Kagathara	20000
Hirenbhai Chhaganbhai Chadmiya	410000
Hanshaben Hirenbhai Chadamiya	390000
Mayurbhai C Chadamiya	400000
Sonalben Hardikbhai Chadamiya	400000
Rajeshbhai Chhaganbhai Chadamiya	300000
Shilpaben Rajeshbhai Chadamiya	290000
Hardik Chhaganbhai Chadamiya	200000
Shaileshbhai Mavjibhai Ughreja	200000
Ashokbhai Bhagwanijbhai Ughreja	500000
Ghanshyambhai Chakubhai Kaila	170000
Sanjaybhai Ambarambhai Sanandiya	200000
Vijyaben Hasmukhrai HAlvadiya	50000
Total	8000000

As on 03.01.2015

Names of Allottees	No. of Shares
Hareshkumar Dayalal Kagthara	150000
Jayantilal Bhudarbhai Kagathara	90000
Keshaclal Bhudarbhai Kagathara	50000
Amarshibhai Becharbhai Kagathara	50000
Dayabhai Becharbhai Kagathara	110000
Shitalben Hareshbhai Kagathara	200000
Champaben Dayabhai Kagathara	100000
Pragjibhai Becharbhai Kagathara	110000
Jagrutiben Narbherambhai Kagathara	90000
Anilbhai Vallabhabhai Kagathara	30000
Krishnaben Jayantilal Kagathara	50000
Vasantbhai Pragjibhai Kagathara	80000
Hirenbhai Chhaganbhai Chadmiya	490000
Hansaben Chhaganbhai Chadamiya	10000
Rajeshbhai Chhaganbhai Chadamiya	200000
Shilpaben Rajeshbhai Chadamiya	10000
Ghanshyambhai Ckakunbhai Kaila	30000
Vijyaben Hasmukhrai Halvadiya	150000
Total	2000000

Equity Share Break up (Percentage of Total Equity)

As on 30.12.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Ceramic Products.
Products :	Ceramic Products
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Ceramic Products
Countries :	Argentina
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash 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
Maximum Limit Dealt :	Not Divulged
Experience :	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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

250 (Approximately)

Bankers :

Bank Name	Dena Bank
Branch	Trajpar, Gujarat, 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

Auditors :
Name :	Tushar Kumar and Associates Chartered Accountants
Address :	203, Je Bhagwan Complex, Ram Chowk, Savsar Plot Main Road, Morbi – 363641, Gujarat, India
Mobile No.:	91-8140681407
PAN N Income-tax PAN of auditor or auditor's firm :	AMSPP7389R
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AFTER 30.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10100000	Equity Shares	Rs.10/- each	Rs. 101.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

As on 30.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10100000	Equity Shares	Rs.10/- each	Rs. 101.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs. 80.000 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	0.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	43.341
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	43.341
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	1.307
(c) Other current liabilities	0.020
(d) Short-term provisions	0.000
Total Current Liabilities (4)	1.327
TOTAL	44.768
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	13.153
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	27.602
(e) Other Non-current assets	0.014
Total Non-Current Assets	40.769
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	3.829
(e) Short-term loans and advances	0.170
(f) Other current assets	0.000
Total Current Assets	3.999
TOTAL	44.768

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	SALES
	Income	0.000
	Other Income	0.000
	TOTAL (A)	0.000
Less	EXPENSES
	Cost of Materials Consumed	0.000
	Purchases of Stock-in-Trade	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000
	Employees benefits expense	0.000
	Other expenses	0.000
	TOTAL (B)	0.000
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	0.000
Less	FINANCIAL EXPENSES (D)	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	0.000
Less	TAX (H)	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.000
	Earnings / (Loss) Per Share (Rs.)	0.00

Expected Sales (2015-2016) : Rs.600.000 Million

The above information has been parted by _ Mr. Anil Kagthara

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

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

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT / Sales)	(%)	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00
Return on Investment (ROI) (PBT/Networth)		0.00
Debt Equity Ratio (Total Debt /Networth)		433.41
Current Ratio (Current Asset/Current Liability)		3.01

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	No
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 one year	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last one year	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

INCORPORATION DETAILS

The year under report was the first year of incorporation of the company. The company was incorporated on 01.10.2013 with the authorized share capital of Rs. 0.100 Million to carry on the business of dealing in different kinds of Ceramic Products like wall tiles, floor tiles, marble tiles, digital floor tiles, vitrified tiles and by products thereof.

COMMENCEMENT OF BUSINESS AND FINANCIAL RESULTS.

The company could not commence its commercial activities during the period under report. However, the company has started construction of its factory shed. Accordingly, there was no profit or loss at the end of year.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)
Long term borrowings
From director	8.500
From Shareholders and relatives	34.841
Total	43.341

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10512734	01/08/2014 *	250,000,000.00	DENA BANK	TRAJPAR BRANCH, SHAKTI CHAMBERS, 8-A NATIONAL HIG HWAY, MORBI, GUJARAT - 363642, INDIA	C15013063

* Date of charge modification

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.63.57
UK Pound	1	Rs.99.67
Euro	1	Rs.70.93

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--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	NO
--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		26

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.