MIRA INFORM REPORT

Report No. :	348442.2
Report Date :	06.11.2015

IDENTIFICATION DETAILS

Name :	LUCKYSTAR INTERNATIONAL PRIVATE LIMITED

Registered Office :	211/213, Kalbadevi Road, 2nd Floor, Near Jewel World, Mumbai – 400002, Maharashtra
Tel No.:	91-22-22439995 / 22439999

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	19.01.2006

Com. Reg. No.:	11-159035

Capital Investment / Paid-up Capital :	Rs.8.519 Million

CIN No.: [Company Identification No.]	U51900MH2006PTC159035

TIN No.:	Not Available

IEC No.:	3797000413

TAN No.: [Tax Deduction & Collection Account No.]	MUML06137F

PAN No.: [Permanent Account No.]	AABCL1519M

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter and Importer of Plastic agglomerates, granules, grindings, plastic scrap, offcuts, cellulose acetate, cellulose acetate butyrate, ldpe etc.

No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject was incorporated on 19^th January, 2006. It has satisfactory track record. The company possesses a decent profile marked by adequate networth base along with fair profitability. There is favorable gap between trade receivables and trade payables. Trade relations are fair. Business is active. Payments are reported to be usually correct. 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

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Dinesh Sharma
Designation :	Accounts Head
Contact No.:	91-22-22439995
Date :	04.11.2015

LOCATIONS

Registered Office :	211/213, Kalbadevi Road, 2nd Floor, Near Jewel World, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22439995 / 22439999
Mobile No.:	91-9930714111 (Mr. Shirin Mohanlal Jain) 91-9930980888 (Mr. Chintan)
Fax No.:	91-22-66333606
E-Mail :	luckystar@icenet.net svnene_co@rediffmail.com info@luckystarinternational.in chitan.jain@luckystarinternationl.in
Website :	www.luckystarinternational.in

Factory :	Shed No. 336, 22-24 and 33-34, Sector No. 1, Kandla Special Economic Zone, Gandhidham - 370230, Gujarat, India
Tel. No.:	91-2836-252351
Fax No.:	91-2836-253176

DIRECTORS

As on 30.09.2014

Name :

Mr. Shirin Mohanlal Jain

Designation :

Director

Address :

Shivtapi Apartments, Floor No. 25, Flat No. 2501, Harishchandra Goregaounkar Marg, Gavdevi, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

20.04.1979

Date of Appointment :

02.08.2008

DIN No.:

02256859

Other Directorship:

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

U51900MH2006PTC159035

LUCKYSTAR INTERNATIONAL PRIVATE LIMITED

Director

02/08/2008

Active

U51109MH2009PTC192264

HEART & ARROW DIAMOND PRIVATE LIMITED

Additional director

30/08/2014

Active

Name :

Mr. Robin Jawaharlal Porwal

Designation :

Director

Address :

Jyotirling Chowk, Taluka-Walawa, District Sangli, Ashta-416301, Maharashtra, India

Date of Birth/Age :

28.06.1985

Date of Appointment :

20.10.2010

DIN No.:

03269579

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders		No. of Shares
Sheetal M Jain		8800
Shakun M Jain		9000
Chintan M Jain		100
Shirin Jain		200
Reema S jain		100
Mamta S Jain		100
Sukanraj D Surana		1300
Mohanalal S Jain (HUF)		100
Mohanlal S Jain		100
Robin J Porwal		100
Shreee Ganesh Spinners Limited, India		166000
Avance Technologies Limited, India		333000
Mahan Industries Limited, India		333000
Total		851900

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	97.66
Directors or relatives of Directors	2.18
Other top fifty shareholders	0.16
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Plastic agglomerates, granules, grindings, plastic scrap, offcuts, cellulose acetate, cellulose acetate butyrate, ldpe etc.

Products :	Plastic Agglomerates Granules, Grindings Plastic Scrap Offcuts Cellulose Acetate Cellulose Acetate Butyrate

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Finished Goods
Countries :	USA Japan European Countries

Imports :
Products :	Raw Material
Countries :	Japan European Countries United States of America

Terms :
Selling :	Advance Payment, Credit and Document Against

Purchasing :	Advance Payment, Credit and Document Against

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	APL India Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

National Colour Chem Corp
Mokshstar International
Shreeji Polymers
International Recycling Plastic Limited

Customers :

End Users and OEMs

Reference :	Om Drishian International Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Riddisiddhi Bullions Limited
Sumeet Enterprises
V.K Polyproducts
V Kumar and Sons

No. of Employees :

35 (Approximately)

Bankers :

Banker Name	ICICI Bank Limited
Branch Address	Zaveri, Bazaar Branch, 226/213, Giriraj Opposite TBZ Zaveri Bazaar, Mumbai – 400002, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	91-22-67574322 (Number is continuously ringing)
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)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
Punjab National Bank, Kandla Special Economic Zone, Gandhidham, Gujarat, India
Corporation Bank
Bhuj Mercantile Co-operative Bank Limited
Citi Bank

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
SHORT TERM BORROWINGS
HDFC Bank Car Loan (*)	0.000	0.206
ICICI Bank Term Loan for Forklift Machine (*)	0.000	0.115
Total	0.000	0.321

* Secured against hypothecation of vehicles/machinery

Auditors :
Name :	S.V. Nene and Company Chartered Accountants
Address :	1-Ground Floor, Solitire Building, Off Link Road, Goregaon (West), Mumbai – 400104, Maharashtra, India
PAN No.:	AAYFS7228Q

Memberships :	Not Available

Collaborators :	Not Available

Related Parties :	Mokshstar Internaitonal Shreeji Polymers

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount

1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

851900	Equity Shares	Rs.10/- each	Rs. 8.519 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	8.519	8.519	8.519
(b) Reserves & Surplus	17.778	12.798	9.234
(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)	26.297	21.317	17.753

(3) Non-Current Liabilities
(a) long-term borrowings	3.665	0.967	7.330
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	3.665	0.967	7.330

(4) Current Liabilities
(a) Short term borrowings	0.000	0.321	0.311
(b) Trade payables	7.457	5.674	9.926
(c) Other current liabilities	10.054	9.887	7.354
(d) Short-term provisions	2.595	1.686	0.000
Total Current Liabilities (4)	20.106	17.568	17.591

TOTAL	50.068	39.852	42.674

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.220	14.113	13.168
(ii) Intangible Assets	0.017	0.000	0.000
(iii) Capital work-in-progress	1.514	0.000	0.000
(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	2.133	3.523	4.143
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	15.884	17.636	17.311

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	12.031	8.128	18.040
(c) Trade receivables	15.394	11.995	0.442
(d) Cash and cash equivalents	3.315	0.382	0.329
(e) Short-term loans and advances	3.314	1.600	6.434
(f) Other current assets	0.130	0.111	0.118
Total Current Assets	34.184	22.216	25.363

TOTAL	50.068	39.852	42.674

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		474.624	339.114	217.540
		Other Income		2.031	0.383	1.023
		TOTAL		476.655	339.497	218.563

Less	EXPENSES
		Cost of Materials Consumed		402.794	268.857	185.802
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(0.061)	12.482	(1.377)
		Employee Benefits Expenses		15.155	6.509	5.476
		Other Expenses		48.199	43.135	22.461
		TOTAL		466.087	330.983	212.362

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			10.568	8.514	6.201

Less	FINANCIAL EXPENSES			0.317	0.675	0.589

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			10.251	7.839	5.612

Less	DEPRECIATION/ AMORTISATION			1.906	2.588	1.743

	PROFIT/(LOSS) BEFORE TAX			8.345	5.251	3.869

Less	TAX			2.595	1.686	0.000

	PROFIT/(LOSS) AFTER TAX			5.750	3.565	3.869

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			8.638	5.073	1.221

Less	S.A Tax (A.Y 12-13) Paid During The Year For Short Payment In The Respective Year			0.856	0.000	0.000

Less	PRIOR PERIOD ADJUSTMENT			0.000	0.000	0.017

Add	Provision of Income tax of A.Y 13-14 transferred			1.686	0.000	0.000

Less	Transfer of TDS & Advance to Reserves			1.600	0.000	0.000

	BALANCE CARRIED TO THE B/S			13.618	8.638	5.073

	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	284.458	266.119	173.082
	TOTAL EARNINGS			284.458	266.119	173.082

	IMPORTS
			Raw Materials	402.878	192.249	189.193
	TOTAL IMPORTS			402.878	192.249	189.193

	Earnings / (Loss) Per Share (Rs.)			6.75	4.18	4.54

Particulars

31.03.2015

Sales Turnover (Approximately)

204.000

(Due to opening of new unit)

The above information has been parted by Mr. Dinesh Sharma (Account Head).

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
Net cash flows from	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.21	1.05	1.78

Operating Profit Margin (PBDIT/Sales)	(%)	2.23	2.51	2.85

Return on Total Assets (PBT/Total Assets}	(%)	17.19	13.18	9.07

Return on Investment (ROI) (PBT/Networth)		0.32	0.25	0.22

Debt Equity Ratio (Total Debt /Networth)		0.14	0.06	0.43

Current Ratio (Current Asset/Current Liability)		1.70	1.26	1.44

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	8.519	8.519	8.519
Reserves & Surplus	9.234	12.798	17.778
Net worth	17.753	21.317	26.297

Long Term borrowings	7.330	0.967	3.665
Short Term borrowings	0.311	0.321	0.000
Total borrowings	7.641	1.288	3.665
Debt/Equity ratio	0.430	0.060	0.139

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	217.540	339.114	474.624
		55.886	39.960

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	217.540	339.114	474.624
Profit	3.869	3.565	5.750
	1.78%	1.05%	1.21%

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	Yes
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	No
32	Litigations that the firm/promoter involved in	----------------------
33	Market information	----------------------
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
From Related Parties
Chintan M Jain	0.295	0.000
Mamta S Jain	0.844	0.479
Mohanlal S Jain HUF	0.110	0.000
Reema S Jain	0.465	0.208
Shirin M Jain	0.174	0.280
Shreeji Polymers	1.777	0.000
Total	3.665	0.967

FINANCIAL RESULTS

During the year the company has achieved Sales Turnover of Rs.474.600 Million as against Rs.339.100 Million in previous year. The company has earned net profit after provision for taxation of Rs.5.749 Million against Rs.3.565 Million in previous year.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 records 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.65.67
UK Pound	1	Rs.101.02
Euro	1	Rs.71.35

INFORMATION DETAILS

Information Gathered by :	SPR

Analysis Done by :	RAS

Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		46

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.

MIRA INFORM REPORT

Unit