MIRA INFORM REPORT

Report No. :	324587
Report Date :	28.05.2015

IDENTIFICATION DETAILS

Name :	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED (w.e.f. 20.02.2012)
Formerly Known As :	CHOWGULE KOSTER (INDIA) CONSTRUCTION CHEMICALS PRIVATE LIMITED
Registered Office :	Chowgule House, Mormugao Harbour, Goa – 403803
Tel. No.:	91-832-2525061
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.08.2004
Com. Reg. No.:	24-003568
Capital Investment / Paid-up Capital :	Rs.4.675 Million
CIN No.: [Company Identification No.]	U24299GA2004PTC003568
TAN No.: [Tax Deduction & Collection Account No.]	BLRC05563F
PAN No.: [Permanent Account No.]	AACCC4683L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers, producer, preparers, processors of and dealers in construction chemicals, water proofing Chemicals etc.
No. of Employees :	120 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 90000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was established in the year 2004 and it is having good track record. During the financial year 2014, company achieve sales of Rs. 231.400 million backed by its profitability margin of 3.38%. Rating is considered on strong financial base and fair liquid profile of the company. Rating is also favorable as subject is part of Chowgule group (flagship entity, Chowgule and Company Private Limited) and established track record of business of waterproofing solution and sound experienced of its promoters. However, trade relation are reported to be fair. Business is active. Payments are regular as per commitment. In view of sound profile of company, company can be considered for business dealings with 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 – 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	ICRA
Rating	Long-Term Rating = BBB+
Rating Explanation	Moderate Degree of Safety and Moderate Credit Risk
Date	December 2014

Rating Agency Name	ICRA
Rating	Short Term Rating: A2+
Rating Explanation	Strong Degree of Safety and Low Credit Risk
Date	December 2014

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 DETAILS)

Name :	Mr. Prasanna
Designation :	Account Department
Contact No.:	91-22-6622500
Date :	26.05.2015

LOCATIONS

Registered Office :	Chowgule House, Mormugao Harbour, Goa – 403803, India
Tel. No.:	91-832-2525061
Fax No.:	91-832-2521011
E-Mail :	Bilguche.ccl@chowgule.co.in
Website :	http://www.chowgule.co.in
Head Office :	Bakhtawar, Nariman Point, Mumbai, Maharashtra, India
Tel. No.:	91-22-66202500
Factory :	Arlem Raja, Salcete, Goa – 403602, Maharashtra, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Vijay Vishwasrao Chowgule

Designation :

Director

Address :

Chowgules House, Baina, Vasco-Da-Gama, South Goa – 403802, Goa, India

Date of Birth/Age :

22.08.1946

Date of Appointment :

04.08.2004

DIN No.:

00018903

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	U36991GA1965PTC000028	CARTYBON PRIVATE LIMITED	Director	18-06-1974	18-06-1974	18-03-2015	Active	NO
2	U63031GA1965PTC000041	CHOWGULE AND COMPANY Private LIMITED.	Managing director	01-02-2015	16-08-1974	-	Active	NO
3	U24111GA1965PTC000198	KOLHAPUR OXYGEN AND ACETYLENE PRIVATE LIMITED	Director	15-06-1984	15-06-1984	30-01-2015	Active	NO
4	U99999MH1977PLC019836	KELTECH ENERGIES LIMITED	Director	15-01-1988	15-01-1988	-	Not Available for eFiling	NO
5	L63090GA1963PLC000002	CHOWGULE STEAMSHIPS LIMITED	Director	23-09-1991	23-09-1991	-	Active	NO
6	U51228MH1991PTC194633	UB AJANTA BREWERIES PRIVATE LIMITED	Director	17-01-1994	17-01-1994	19-08-2008	Amalgamated	NO
7	U14220GA1996PTC002176	CHOWGULE AND COMPANY (SALT) PRIVATE LIMITED	Director	30-08-1996	30-08-1996	-	Active	NO
8	U35111GA2002PTC003085	CHOWGULE SHIPBUILDING PRIVATE LIMITED	Director	27-03-2002	27-03-2002	-	Active	NO
9	L30007KA1977PLC031660	KELTECH ENERGIES LIMITED	Director	04-03-2003	04-03-2003	11-07-2013	Active	NO
10	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	04-08-2004	04-08-2004	-	Active	NO
11	U13100GA1999PTC002662	DOLPHIN MINING SERVICES PRIVATE LIMITED	Director	03-11-2004	03-11-2004	-	Active	NO
12	U13100GA1999PTC002657	DOLPHIN EXTRUSIONS PRIVATE LIMITED	Director	03-11-2004	03-11-2004	-	Active	NO
13	U13100GA1999PTC002658	DOLPHIN ORE EXTRACTION PRIVATE LIMITED	Director	03-11-2004	03-11-2004	-	Active	NO
14	U93090GA2007NPL005456	SPANDAN ECO FOUNDATION	Director	12-10-2007	12-10-2007	-	Active	NO
15	U80900PN2009NPL134007	MAC MARITIME TRAINING AND RESEARCH INSTITUTE	Director	21-05-2009	21-05-2009	24-03-2015	Active	NO
16	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-2009	28-05-2009	-	Active	NO
17	U13209GA2010PTC006381	CHOWGULE MINING PRIVATE LIMITED	Director	10-05-2010	10-05-2010	-	Active	NO
18	U35203PN1999PTC020817	LAVGAN DOCKYARD PRIVATE LIMITED	Additional director	19-01-2015	26-07-2010	-	Active	NO
19	U63032PN2003PTC018005	ANGRE PORT PRIVATE LIMITED	Director	08-07-2011	26-07-2010	-	Active	NO
20	U24100GA2010PTC006455	CHOWGULE ABP COATINGS (INDIA) PRIVATE LIMITED	Director	02-08-2010	02-08-2010	-	Active	NO
21	U45400GA2011PTC006569	CHOWGULE CONSTRUCTION TECHNOLOGIES PRIVATE LIMITED	Director	14-01-2011	14-01-2011	-	Active	NO
22	U73100GA2011NPL006729	PARVATIBAI CHOWGULE MARITIME TRAINING AND RESEARCH INSTITUTE	Director	13-07-2011	13-07-2011	18-03-2015	Active	NO
23	U85199GA2000PTC002892	CHOWGULE MEDICONSULT PRIVATE LIMITED	Additional director	24-12-2012	24-12-2012	-	Active	NO

Name :

Mr. Pradip P Mahatme

Designation :

Director

Address :

Opposite All India Radio Altinho, Panaji, North Goa- 403001, Goa, India

Date of Birth/Age :

03.11.1951

Date of Appointment :

04.08.2004

DIN No.:

00019106

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	U24239GA1975PLC000250	GENO PHARMACEUTICALS LIMITED	Director	22-04-1980	22-04-1980	-	Active	NO
2	U63031GA1965PTC000041	CHOWGULE AND COMPANY Private LIMITED.	Director	14-02-1989	14-02-1989	-	Active	NO
3	U14220GA1996PTC002176	CHOWGULE AND COMPANY (SALT) PRIVATE LIMITED	Director	30-08-1996	30-08-1996	-	Active	NO
4	U85199GA2000PTC002892	CHOWGULE MEDICONSULT PRIVATE LIMITED	Director	06-09-2000	06-09-2000	-	Active	NO
5	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	04-08-2004	04-08-2004	-	Active	NO
6	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	08-07-2011	26-07-2010	-	Active	NO
7	U60200PN2011PTC141020	CHOWGULE LOGISTICS PRIVATE LIMITED	Director	11-10-2011	11-10-2011	-	Strike off	NO

Name :

Mr. Ewart John Lazarus

Designation :

Managing Director

Address :

91 Advent 9^th Floor 12 A General Jaganath Rao, Bhonsle Marg Narimanpoint Mujbai – 400021, Maharashtra, India

Date of Birth/Age :

26.02.1957

Date of Appointment :

01.07.2013

DIN No.:

00007012

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	U14102MH1991PTC064427	LAZARUS MINERALS PRIVATE LIMITED	Director	12-12-1991	12-12-1991	-	Active	NO
2	U26930MH1995PTC095622	ELT TRADING AND CONTRACTING COMPANY PRIVATE LIMITED	Director	27-12-1995	27-12-1995	-	Active	NO
3	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Managing director	01-07-2013	26-02-2005	-	Active	NO
4	U93090GA2007NPL005456	SPANDAN ECO FOUNDATION	Director	12-10-2007	12-10-2007	-	Active	NO
5	U74900PN2011PTC141010	KOLHAPUR TERMINALS PRIVATE LIMITED	Director	10-10-2011	10-10-2011	-	Strike off	NO
6	U24100GA2010PTC006455	CHOWGULE ABP COATINGS (INDIA) PRIVATE LIMITED	Director	30-09-2014	02-12-2013	-	Active	NO

Name :

Carlton Felix Pereira

Designation :

Director

Address :

72, Buenavidta, Gen. J. Bhosale, Marg, Nariman Point, Mumbai – 400021, Maharshtra, India

Date of Birth/Age :

17.10.1967

Date of Appointment :

30.09.2013

DIN No.:

00106962

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	U74999MH2005PTC156242	TANO INDIA ADVISORS PRIVATE LIMITED	Director	02-01-2006	02-01-2006	-	Active	NO
2	U74899DL1988PTC032144	SIERRA INDUSTRIAL ENTERPRISES PRIVATE LIMITED	Director	30-09-2006	25-04-2006	-	Amalgamated	NO
3	U74899DL1994PLC061971	SSIPL RETAIL LIMITED	Director	30-09-2006	25-04-2006	-	Active	NO
4	U24210KA1972PLC002255	PROMAC ENGINEERING INDUSTRIES LIMITED	Director	02-07-2007	24-04-2007	-	Active	NO
5	L85110KA1987PLC008739	SHILPA MEDICARE LIMITED	Director	05-09-2007	05-09-2007	-	Active	NO
6	U31103MH2007PLC175173	ABG MOTORS LIMITED	Director	29-09-2008	20-02-2008	29-10-2013	Active	NO
7	U22212MH1983PLC029081	ANIL PRINTERS LIMITED	Director	15-03-2008	15-03-2008	09-05-2014	Active	NO
8	U63040MH1983PTC031154	COMPACT TRAVELS PVT LTD	Director	30-03-2008	30-03-2008	-	Active	NO
9	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	30-09-2013	18-10-2012	-	Active	NO
10	U74999PN2010PTC135586	SANGHVI BRANDS PROMOTERS PRIVATE LIMITED	Director	10-11-2014	31-01-2014	-	Active	NO
11	L32300MH1981PLC023637	MIRC ELECTRONICS LIMITED	Director	03-09-2014	15-05-2014	-	Active	NO
12	U74900PN2010PTC137959	SANGHVI FITNESS PRIVATE LIMITED	Additional director	10-11-2014	10-11-2014	-	Active	NO
13	U74900PN2011PTC141626	SANGHVI BEAUTY & SALON PRIVATE LIMITED	Additional director	10-11-2014	10-11-2014	-	Active	NO
14	U74900PN2015PTC154025	SANGHVI HOSPITALITY PRIVATE LIMITED	Director	12-02-2015	12-02-2015	-	Active	NO

Name :

Ramanathan Sridhar

Designation :

Director

Address :

57 Bharat Thirtha Corporate Housing Society, Sion – Trombay Road, Chembur, Mumbai – 40071, Maharashtra, India

Date of Birth/Age :

25.03.1949

Date of Appointment :

02.12.2013

DIN No.:

00572548

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	U85110MH1998PLC226134	INDUS-LEAGUE CLOTHING LIMITED	Director	30-09-2006	30-09-2006	03-06-2009	Active	NO
2	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	30-09-2014	02-12-2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay Mahadev Birje
Designation :	Secretary
Address :	Crec Quarters F Type Building, Mangor Vasco-Da-Gama, South Goa – 403802, India
Date of Birth/Age :	06.06.1963
Date of Appointment :	26.05.2006
DIN No.:	ACLPB8355Q
Voter ID No.:	ROP0165605
Name :	Francisco Dias
Designation :	Practising Company Secretary
Qualification:	B.com, L.L.B., F.C.S
Name :	Mr. Prasanna
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Chowgule Industries Private Limited, India	224054	47.93
Vijay V Chowgule	5000	1.07
Dolphin Extrusion Private Limited, India	35982	7.70
Dolphin Ore Extraction Private Limited, India	35982	7.70
Dolphin Mining Services Private Limited, India	35982	7.70
Chowgule Construction Technologies private Limited, India	130457	27.91
Total	467457	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	98.93
Directors or relatives of Directors	1.07
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers, producer, preparers, processors of and dealers in construction chemicals, water proofing Chemicals etc.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Countries :	Germany Vietnam Country
Imports :
Products :	Raw Material
Countries :	Germany
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Chowgule ABP Coatings India Private Limited
• ELT Trading and Contracting Private Limited

Customers :

Reference :	Chowgule Industries Private Limited
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 :

120 (Approximately)

Bankers :

Bank Name	HDFC Bank Limited
Branch	HDFC Bank House Senapati Bapat Marg, Lower Parel, West Mumbai – 400013, 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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Secured Loans repayable on demand
Cash credit (secured against hypothecation of Inventories, Block debts and Plant and Machinery)	1.892	0.000
Total	1.892	0.000

Auditors :
Name :	K. M. Bandekar and Company Chartered Accountant
Tel No.:	91-832-2531014
Email:	bandekarkm@gamil.com
Address :	Radha Niwas, Maimolem, Vascoda Gama, Goa – 403802, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACFPB1818A
Memberships :	Not Available
Collaborators :	Not Available
Related Parties:	Chowgule Industries Private Limited Chowgule Construction Technologies Private Limited Chowgule ABP Coatings (India) Private Limited ELT Trading and Contracting Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
467457	Equity Shares	Rs.10/- each	Rs.4.675 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	4.675	4.675	4.675
(b) Reserves & Surplus	26.402	18.564	21.279
(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)	31.077	23.239	25.954
(3) Non-Current Liabilities
(a) long-term borrowings	80.000	30.000	0.000
(b) Deferred tax liabilities (Net)	0.312	0.420	0.332
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.345	0.143	0.089
Total Non-current Liabilities (3)	80.657	30.563	0.421
(4) Current Liabilities
(a) Short term borrowings	44.289	32.550	0.000
(b) Trade payables	34.440	23.592	7.799
(c) Other current liabilities	13.228	5.509	2.753
(d) Short-term provisions	0.228	0.002	0.001
Total Current Liabilities (4)	92.185	61.653	10.553
TOTAL	203.919	115.455	36.928
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.557	8.482	3.679
(ii) Intangible Assets	0.100	0.046	0.071
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	1.710	0.000
(b) Non-current Investments	41.472	33.238	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.229	0.202	0.781
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	52.358	43.678	4.531
(2) Current assets
(a) Current investments	28.033	9.503	0.000
(b) Inventories	34.752	24.828	15.909
(c) Trade receivables	82.945	33.205	14.113
(d) Cash and cash equivalents	0.603	1.628	0.613
(e) Short-term loans and advances	5.198	2.603	1.762
(f) Other current assets	0.030	0.010	0.000
Total Current Assets	151.561	71.777	32.397
TOTAL	203.919	115.455	36.928

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Total Turnover	231.428	115.296	73.461
	Other Income	1.188	1.123	0.365
	TOTAL (A)	232.616	116.419	73.826
Less	EXPENSES
	TOTAL (B)	221.924	118.513	72.486
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	10.692	(2.094)	1.340
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.874	0.523	0.312
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	9.818	(2.617)	1.028
Less	TAX (H)	1.980	0.098	0.303
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	7.838	(2.715)	0.725
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	17.211	19.926	19.201
	Balance Carried to the B/S	25.049	17.211	19.926
	Earnings / (Loss) Per Share (Rs.)	16.77	(5.81)	1.55

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 / Sales)	(%)	3.39	(2.35)	0.99
Return on Total Assets (PBT/Total Assets}	(%)	6.04	(3.25)	2.78
Return on Investment (ROI) (PBT/Networth)		0.32	(0.11)	0.04
Debt Equity Ratio (Total Debt /Networth)		4.00	2.69	0.00
Current Ratio (Current Asset/Current Liability)		1.64	1.16	3.07

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	4.675	4.675	4.675
Reserves & Surplus	21.279	18.564	26.402
Net worth	25.954	23.239	31.077
long-term borrowings	0.000	30.000	80.000
Short term borrowings	0.000	32.550	44.289
Total borrowings	0.000	62.550	124.289
Debt/Equity ratio	0.000	2.692	3.999

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 Turnover	73.461	115.296	231.428
		56.949	100.725

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Turnover	73.461	115.296	231.428
Profit	0.725	(2.715)	7.838
	0.99%	(2.35%)	3.39%

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	Yes
19	Major customers	Yes
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	Yes
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

FINANCIAL RESULTS:

With view to conserve the resources of the Company, the Directors have not recommended any dividend for the year

OPERATIONS AND SALES:

The total turnover during the year was Rs. 231.428 million as compared to previous year of Rs. 115.296 million, including other income of Rs.1.188 million (previous year Rs. 1.123 million).

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long Term Borrowing
Term loan from other parties	80.000	30.000
Short Term Borrowing
From related parties	25.847	13.500
From Other parties	16.550	19.050
Total	122.397	62.550
Note: Loan amount of Rs. 30.000 million bearing interest rate of 10% p.a. is repayable over a period of 8 years. The lender has waived off the interest on the said loan for the year. Loan amount of Rs. 50.000 million bearing interest rate of 12% p.a is repayable within a period of 7 years including a 2 years moratorium period

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10384353	02/08/2014 *	30,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL  (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	C17499765

* Date of charge modification

FIXED ASSETS

Tangible assets

• Buildings
• Plant and equipment
• Furniture and fixtures
• Office equipment
• Laboratory Equipments
• Electrical Installations
• Vehicles

Intangible assets

• 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.63.95
UK Pound	1	Rs.98.64
Euro	1	Rs.69.86

INFORMATION DETAILS

Information Gathered by :	GYA
Analysis Done by :	KAS
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		52

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.