MIRA INFORM REPORT

Report No. :	348031
Report Date :	04.11.2015

IDENTIFICATION DETAILS

Name :	HOLOFLEX LIMITED

Registered Office :	23, Brabourne Road, 6th Floor, Kolkata - 700001, West Bengal
Tel. No.:	91-33-24071738

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	31.05.1991

Com. Reg. No.:	21-051895

Capital Investment / Paid-up Capital :	Rs. 10.001 Million

CIN No.: [Company Identification No.]	U24134WB1991PLC051895

IEC No.:	0293004129

TAN No.: [Tax Deduction and Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAACH8066L

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer of Holograms and allied products for Secure Promotions.

No. of Employees :	100 (Approximately)

RATING and COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 970000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject was incorporated in the year 1991 and is promoted by Mr. Manoj Kochar. The company manufactures holographic products such as security holograms and allied holographic products. The rating reflect company’s established presence in the hologram market in India, and the company’s above-average financial risk profile. Rating further takes consideration on company’s healthy operational growth along with decent profitability margin of 4.39% in FY-14. This rating strengths is partially offset by limited growth prospects of the hologram industry in India, and company exposure to revenue concentration risks. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of experience of the promoters and established track record, 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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	CRISIL
Rating	Long Term Bank Facilities = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	February 2015

Rating Agency Name	CRISIL
Rating	Short Term Bank Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	February 2015

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Yogendra
Designation :	Finance Manager
Contact No.:	91-33-24071738
Date :	02.11.2015

LOCATIONS

Registered Office :	23, Brabourne Road, 6th Floor, Kolkata - 700001, West Bengal, India
Tel. No.:	91-33-24071738
Fax No.:	91-33-24071739
E-Mail :	info@holoflex.com accounts@dhanshreegroup.com
Website :	www.holoflex.com
Location :	Owned
Locality :	Commercial

Corporate Office/ Factory :	92 C/1, Sahapur, Block-J, New Alipore, Kolkata - 700053, West Bengal, India
Tel. No.:	91-33-24071738
Fax No.:	91-33-24071739
Location :	Owned

DIRECTORS

AS ON 24.09.2014

Name :	Manoj Kochar
Designation :	Whole-Time Director
Address :	3A, Camac Street, Kolkata - 700016, West Bengal, India
Date of Birth/Age :	05.09.1964
Date of Appointment :	01.04.2015
DIN No.:	00313730

Name :

Pancham Kumar Surana

Designation :

Whole-Time Director

Address :

'G' Block, 395, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

04.04.1977

Date of Appointment :

01.04.2015

DIN No.:

00314034

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	U24134WB1991PLC051895	HOLOFLEX LIMITED	Whole-time director	01/04/2015	18/08/2000	-	Active	NO
2	U70109WB1987PLC041755	DHAN DAULAT HOLDING LTD	Director	18/06/2003	18/06/2003	-	Active	NO
3	U65993WB1993PTC060483	PLATO FINVEST PVT LTD	Director	09/12/2004	09/12/2004	-	Active	NO
4	U70102WB1991PTC051896	S.D. INFRASTRACTURE and REAL ESTATE PRIVATE LIMITED	Director	13/10/2005	13/10/2005	27/01/2011	Active	NO
5	U51909WB2007PTC118525	MONITOR TRADECOM PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
6	U51909WB2007PTC118522	MOUNTVIEW MERCANTILE PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
7	U51109WB2007PTC115843	SUKHSAGAR DEALERS PRIVATE LIMITED	Director	15/09/2007	15/09/2007	-	Active	NO
8	U51909WB2007PTC118291	MAA DURGA DEALCOM PRIVATE LIMITED	Additional director	17/09/2007	17/09/2007	-	Active	NO
9	U65993WB1987PTC042515	DEEKAY PROPERTIES PVT LTD	Director	20/10/2008	20/10/2008	-	Active	NO
10	U20232WB1998PTC087024	JET PLYWOOD PRIVATE LIMITED	Director	27/09/2014	31/03/2014	-	Active	NO

Name :

Amit Kumar Surana

Designation :

Whole-Time Director

Address :

'G' Block, 395, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

20.04.1978

Date of Appointment :

01.04.2015

DIN No.:

00313868

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	U17232WB1992PTC054402	FRINDON EXPORTS PVT. LTD.	Director	23/06/1998	23/06/1998	-	Active	NO
2	U24134WB1991PLC051895	HOLOFLEX LIMITED	Whole-time director	01/04/2015	18/08/2000	-	Active	NO
3	U70109WB1987PLC041755	DHAN DAULAT HOLDING LTD	Director	18/06/2003	18/06/2003	-	Active	NO
4	U70101WB1995PTC073070	SRI BALAJI HOUSES PRIVATE LIMITED	Director	29/06/2004	29/06/2004	01/06/2015	Active	NO
5	U65993WB1993PTC060483	PLATO FINVEST PVT LTD	Director	14/12/2004	14/12/2004	-	Active	NO
6	U70102WB1991PTC051896	S.D. INFRASTRACTURE and REAL ESTATE PRIVATE LIMITED	Director	13/10/2005	13/10/2005	10/06/2011	Active	NO
7	U51909WB2007PTC118556	BOOSTER MERCHANDISE PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
8	U51909WB2007PTC117906	SPLENDOR COMMODITIES PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
9	U51909WB2007PTC117905	SNOWFALL MERCHANTS PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
10	U51909WB2007PTC118248	RAJLAXMI VANIJYA PRIVATE LIMITED	Additional director	17/09/2007	17/09/2007	-	Active	NO
11	U51909WB2007PTC118484	VIDHATA SALES PRIVATE LIMITED.	Director	19/09/2007	19/09/2007	-	Active	NO
12	U20232WB1998PTC087024	JET PLYWOOD PRIVATE LIMITED	Director	04/07/2008	04/07/2008	-	Active	NO
13	U65993WB1987PTC042515	DEEKAY PROPERTIES PVT LTD	Director	17/10/2008	17/10/2008	-	Active	NO
14	U70101WB2006PTC108150	SUKHSAGAR HIRISE PVT LTD	Director	27/09/2014	29/03/2014	-	Active	NO
15	U51909WB2007PTC118523	EVERNEW COMMERCIAL PRIVATE LIMITED	Director	26/09/2014	29/03/2014	-	Active	NO
16	U51109WB2007PTC114652	LIFELINE VYAPAAR PRIVATE LIMITED	Additional director	02/09/2015	02/09/2015	-	Active	NO

Name :

Ajit Kumar Surana

Designation :

Whole-Time Director

Address :

'G' Block, 395, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

01.04.1970

Date of Appointment :

01.04.2015

DIN No.:

00313849

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	L70101WB1983PLC036042	ELPEE COMMERCIAL LIMITED	Director	29/12/1993	29/12/1993	14/08/2015	Active	NO
2	U51909WB2007PTC118523	EVERNEW COMMERCIAL PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
3	U51909WB2007PTC118224	JAGDAMBA COMMODITIES PRIVATE LIMITED	Additional director	17/09/2007	17/09/2007	-	Active	NO
4	U24134WB1991PLC051895	HOLOFLEX LIMITED	Whole-time director	01/04/2015	01/10/2008	-	Active	NO
5	U74900WB2013PTC192222	WHITE WASH SPARKLES PRIVATE LIMITED	Director	16/04/2013	16/04/2013	-	Active	NO
6	U70101WB2006PTC108150	SUKHSAGAR HIRISE PVT LTD	Director	27/09/2014	29/03/2014	-	Active	NO
7	U20232WB1998PTC087024	JET PLYWOOD PRIVATE LIMITED	Director	27/09/2014	31/03/2014	-	Active	NO
8	U51909WB2007PTC118525	MONITOR TRADECOM PRIVATE LIMITED	Director	26/09/2014	31/03/2014	-	Active	NO
9	U45202WB2004PTC100151	MITA NIRMAN PROPERTIES PRIVATE LIMITED	Additional director	31/03/2014	31/03/2014	26/07/2014	Active	NO

Name :

Naveen Kumar Surana

Designation :

Director

Address :

'G' Block, 395, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

25.06.1976

Date of Appointment :

01.04.2013

DIN No.:

00314011

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	U70101WB2006PTC108150	SUKHSAGAR HIRISE PVT LTD	Director	23/03/2006	23/03/2006	-	Active	NO
2	U51909WB2007PTC117905	SNOWFALL MERCHANTS PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
3	U24134WB1991PLC051895	HOLOFLEX LIMITED	Director	01/04/2013	01/07/2009	-	Active	NO
4	U51909WB2010PTC153375	SUNGOLD VINIMAY PRIVATE LIMITED	Director	01/10/2010	01/10/2010	25/04/2011	Active	NO
5	U85110WB1992PTC054645	RDH ENGINEERS PRIVATE LIMITED	Whole-time director	01/04/2013	24/10/2011	-	Active	NO
6	U51102WB2007PTC117788	MAPLE SUPPLIERS PRIVATE LIMITED	Director	26/09/2014	31/03/2014	-	Active	NO
7	U45202WB2004PTC100151	MITA NIRMAN PROPERTIES PRIVATE LIMITED	Additional director	31/03/2014	31/03/2014	26/07/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Yogendra
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 24.09.2014

Names of Shareholders		No. of Shares
Kochar Manoj		72,600
Surana Kumar Amit		132,900
Surana Kumar Pancham		76,500
Surana Vijay Laxmi		43,200
Surana Deepa		57,900
Jain Vandana		57,500
Surana Madhu		59,500
Kochar Kusum		35,000
Surana Kunal		5,000
Surana Anamkia		50,000
Surana Shalini		30,000
Surana Ritushree		30,000
Surana Rahul		30,000
Surana Kumar Jai		20,000
Surana Snehlata		20,000
Kochar Manoj		85,000
Surana Kumar Sandeep		30,000
Surana Premlata		40,000
Surana Singh Daulat		20,000
Surana Kumar Ajit		60,000
Surana Kumar Naveen		45,000
Total		1,000,100

Equity Share Break up (Percentage of Total Equity)

AS ON 24.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Holograms and allied products for Secure Promotions.

Products :	Hologram Stamping Foil MULTIMAX Seal Holographic Film Labels

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Finished Goods
Countries :	Canada USA Bangladesh Kenya

Imports :
Products :	Raw Materials
Countries :	Russia

Terms :
Selling :	Cash and Credit (30/60/90 Days)

Purchasing :	Cash and Credit (30/60/90 Days)

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 :

End Users and OEM’s

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 :

100 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	BRBB Road, Kolkata - 700001, West Bengal, India
Person Name (With Designation)	Not Available
Contact Number	91-33-22427291
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Cash Credit = Rs. 1.140 Million
Account Operation	Not Available
Remarks (If any)	(Number is Continuously ringing)

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From Banks (secured Loans against hypothecation of stock of raw materials, stock in process, finished goods, receivables, first charge on existing and futre fixed assets and equitable mortgage of leasehold of some and construction there on, with personal guarantee of some directors including for short term borrowings)
Term Loans	3.633	7.893
Less: current maturity classified as other current liabilities	(3.633)	(4.260)
Car Loan (Secured against Vehicles)	2.752	2.034
Less: currect maturity classified as other current liabilites	(1.266)	(1.025)

Short-term borrowings
From Banks (secured Loans against hypothecation of stock of raw materials, stock in process, finished goods, receivables, first charge on existing and futre fixed assets and equitable mortgage of leasehold of some and construction there on, with personal guarantee of some directors including for short term borrowings)
Loans Repayable on Demand Cash Credit	20.878	46.838
Total	22.365	51.480

Auditors :
Name :	Jain and Bagaria Chartered Accountants
Address :	27/8A, Waterloo Street, Kolkata - 700069, West Bengal, India
PAN No. of Auditors Firm:	AAGFJ6184J

Memberships :	Not Divulged

Collaborators :	Not Divulged

Enterprises over which key Management personal and their relatives are able to exercise significant influence :	Infinity Lifestyle Ie Private Limited

Other Related Parties :	Dream Estate Holding Private Limited RDH Engineers Private Limited Tunkai India Limited

Sister Concern :	Deekay Properties Private Limited

CAPITAL STRUCTURE

AS ON 24.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

2,000,000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount

1,000,100	Equity Shares	Rs.10/- each	Rs. 10.001 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	10.001	10.001	10.001
(b) Reserves and Surplus	330.873	316.891	304.212
(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)	340.874	326.892	314.213

(3) Non-Current Liabilities
(a) long-term borrowings	75.796	4.642	8.799
(b) Deferred tax liabilities (Net)	1.975	2.614	3.129
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.902
Total Non-current Liabilities (3)	77.771	7.256	12.830

(4) Current Liabilities
(a) Short term borrowings	20.878	46.838	60.716
(b) Trade payables	42.991	37.807	27.010
(c) Other current liabilities	18.714	10.027	3.158
(d) Short-term provisions	2.340	1.743	1.743
Total Current Liabilities (4)	84.923	96.415	92.627

TOTAL	503.568	430.563	419.670

II. ASSETS
(1) Non-current assets
(a) Fixed Assets	302.624	303.396	304.769
(i) Tangible assets	0.000	0.000	0.000
(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	1.848	1.848	0.008
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	74.070	11.829	11.856
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	378.542	317.073	316.633

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	64.446	50.598	57.047
(c) Trade receivables	43.439	39.914	30.167
(d) Cash and cash equivalents	7.061	5.395	4.444
(e) Short-term loans and advances	9.887	16.776	10.913
(f) Other current assets	0.193	0.807	0.466
Total Current Assets	125.026	113.490	103.037

TOTAL	503.568	430.563	419.670

PROFIT and LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	363.682	328.991	262.457
	Other Income	8.258	2.109	0.494
	TOTAL SALES	371.940	331.100	262.951

Less	EXPENSES
	Manufacturing Expenses	226.595	183.228	153.517
	Purchases of Stock-in-Trade	17.579	17.915	12.852
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(15.421)	4.090	(18.826)
	Employees benefits expense	38.093	30.552	18.831
	Other expenses	52.315	52.568	52.316
	TOTAL (B)	319.161	288.353	218.690

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	52.779	42.747	44.261

Less	FINANCIAL EXPENSES	15.382	8.274	11.215

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	37.397	34.473	33.046

Less	DEPRECIATION/ AMORTISATION	13.305	12.881	13.768

	PROFIT/ (LOSS) BEFORE TAX	24.092	21.592	19.278

Less	TAX	7.770	7.170	6.302

	PROFIT/ (LOSS) AFTER TAX	16.322	14.422	12.976

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	11.678	10.232	NA

Less	APPROPRIATIONS
	Transfer to General Reserve	12.678	11.232
	Dividend	2.000	1.500
	Tax on Dividend	0.340	0.243
	Total	15.018	12.975	NA

	BALANCE CARRIED TO THE BALANCE SHEET	12.982	11.679	12.976

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	22.109	6.666	2.588
	TOTAL EARNINGS	22.109	6.666	2.588

	IMPORTS
	Raw Materials	2.319	1.773	2.655
	Components and Stores parts	0.508	1.386	0.058
	TOTAL IMPORTS	2.827	3.159	2.713

	EARNINGS / (LOSS) PER SHARE (RS.)	16.32	14.42	12.97

Particulars

31.03.2015

Sales Turnover

400.000

The above information has been parted by Mr. Yogendra (Finance Manager).

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
Cash generated from (Used) operations	NA	NA	NA
Cash generated from Operating Activities	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.49	4.38	4.94

Operating Profit Margin (PBIDT/Sales)	(%)	14.51	12.99	16.86

Return on Total Assets (PBT/Total Assets}	(%)	4.80	5.04	4.59

Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.06

Debt Equity Ratio (Total Debt /Networth)		0.28	0.16	0.22

Current Ratio (Current Asset/Current Liability)		1.47	1.18	1.11

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	10.001	10.001	10.001
Reserves and Surplus	304.212	316.891	330.873
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	314.213	326.892	340.874

long-term borrowings	8.799	4.642	75.796
Short term borrowings	60.716	46.838	20.878
Total borrowings	69.515	51.480	96.674
Debt/Equity ratio	0.221	0.157	0.284

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	262.457	328.991	363.682
		25.350	10.545

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	262.457	328.991	363.682
Profit	12.976	14.422	16.322
	4.94%	4.38%	4.49%

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)	No
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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS:

During this year the turnover of the Company was Rs. 363.682 Million as against Rs. 328.991 Million in the previous year. The Net Profit of the Company during the year is Rs. 16.322 Million compared to Rs. 14.422 Million in the previous year. The Directors feels that the Company has done well in spite of unfavorable economic conditions and is also confident that during the coming year Company will show better result compare to previous years.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
From Body corporate
Term Loan	85.560	0.000
Less: current maturity classified as other current liabilities	(11.251)	0.000
Total	74.309	0.000

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10481759	09/01/2014	1,140,000.00	PUNJAB NATIONAL BANK	BRBB ROAD BRANCH, 135, B. R. B. B. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA	B98169386
2	90252850	25/02/2003	1,925,000.00	PUNJAB NATIONAL BANK	BRBB ROAD BRANCH, 135 BRBB ROAD, CALCUTTA, WEST BENGAL - 700001, INDIA	-
3	90256075	22/10/2011 *	122,277,000.00	PUNJAB NATIONAL BANK	B R B B ROAD BRANCH, 135 BRBB ROAD, KOLKATA, WEST BENGAL - 700001, INDIA	B24945313

FIXED ASSETS

Land and Building
Furniture’s and Fixtures
Office Equipment
Computer
Vehicles

CMT REPORT (Corruption, Money Laundering and 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. 65.45
UK Pound	1	Rs. 101.96
Euro	1	Rs. 72.10

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	KSP

Report Prepared by :	SYL

SCORE and RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--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	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		49

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 and 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.

MIRA INFORM REPORT

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