MIRA INFORM REPORT

Report No. :	348175
Report Date :	07.11.2015

IDENTIFICATION DETAILS

Name :	UTOPIA OPTOVISION PRIVATE LIMITED
Registered Office :	P- 4/5, IT Park, Old M.I.D.C. Satara, Satara-415004, Maharashtra
Tel. No.:	91-2162-246821/ 29
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.03.2008
Com. Reg. No.:	11-131586
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U29299PN2008PTC131586
IEC No.:	3110007576
TAN No.: [Tax Deduction & Collection Account No.]	PNEU06816F
PAN No.: [Permanent Account No.]	AAACU9754G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of blister pack inspection systems, non filed detection system, carton inspection systems, colour blister pack etc.
No. of Employees :	Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 12700
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2008, it is established company having moderate track record. The rating takes into account on company’s small scale of operations, moderate financial risk profile, modest capital structure along with below average debt protection metrics. Rating further constrained on company’s very low profitability margin during the years from its operation and huge external borrowing reported to be slow but correct. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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.

LOCATIONS

Registered Office :	P- 4/5, IT Park, Old M.I.D.C. Satara, Satara-415004, Maharashtra, India
Tel. No.:	91-2162-246821/ 29
Fax No.:	Not Available
E-Mail :	info@utopiacontrol.com sales@utopiaoptovision.com
Website :	http://www.utopiaoptovision.com

DIRECTORS

AS ON 30.09.2014

Name :	Ms. Gauri Prasanna Deshmukh
Designation :	Director
Address :	3, Gajvadan Garden Near Hotel Monark,, Sadar Bazar, Satara-415001, Maharashtra, India
Date of Birth/Age :	03.08.1981
Date of Appointment :	11.03.2008
DIN No.:	00284651
Name :	Mr. Prasanna Anandrao Deshmukh
Designation :	Director
Address :	3, Gaj Vadan Garden, Near Hotel Monark, Sadar Bazar, Satara-415001, Maharashtra, India
Date of Birth/Age :	09.06.1973
Date of Appointment :	11.03.2008
DIN No.:	01995106
Name :	Mr. Mahesh Sakhalkar
Designation :	Director
Address :	Fl A/16 Saivihar Residency Res(3-Phase), Sno 4/2A/1/3+9 Sutarwadi Pashan, Pune, 411021, Maharashtra, India
Date of Birth/Age :	08.07.1972
Date of Appointment :	11.03.2008
DIN No.:	02053505

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Prasanna Anandrao Deshmukh	5000	50.00
Gauri Prasanna Deshmukh	2550	25.50
Mahesh Avinash Sakhalkar	2450	24.50
Total	10000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of blister pack inspection systems, non filed detection system, carton inspection systems, colour blister pack etc.
Brand Names :	--
Agencies Held :	--
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

Customers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

No. of Employees :

Not Available

[We tried to confirm the number of employees but no one is ready to part any information from the company management]

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (With Designation):	Not Available
Contact Number:	Not Available
Name Of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year Of A/C Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (Cc/Od/Term Loan):	Not Available
Account Operation:	Not Available
Remarks:	Not Available

· Axis Bank Limited

Gound Floor, Abanjani S No 257, Plot No 2, Bhosal
E Mala, Near Hotel Radhika Palace, Satara- 415001, Maharashtra, India

· State Bank of India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
State Bank of India Car Loan	0.277	0.576
SHORT TERM BORROWINGS
Cash Credit from the Axis bank Limited	9.610	9.909
Total	9.887	10.485

Banking Relations :	--
Auditors :
Name :	Godbole and Company Chartered Accountants
Address :	F-3 Appartment, 4/2 Kesarkar Peth, Satara-415002, Maharashtra, India
Tel. No.:	91-2162-234500
Income-tax PAN of auditor or auditor's firm :	AGSTG3322M
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	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	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	4.349	4.310	4.262
(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)	4.449	4.410	4.362
(3) Non-Current Liabilities
(a) Long-term borrowings	5.485	11.508	15.224
(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)	5.485	11.508	15.224
(4) Current Liabilities
(a) Short term borrowings	9.610	9.909	7.469
(b) Trade payables	(0.265)	0.598	4.479
(c) Other current liabilities	0.112	0.245	0.653
(d) Short-term provisions	2.387	2.206	1.502
Total Current Liabilities (4)	11.844	12.958	14.103
TOTAL	21.778	28.876	33.689
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.009	7.108	3.194
(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	0.000	0.000	0.255
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.051	0.051	0.058
(e) Other Non-current assets	0.116	0.136	0.155
Total Non-Current Assets	7.176	7.295	3.662
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	14.926	10.215	6.142
(c) Trade receivables	(3.882)	7.789	21.388
(d) Cash and cash equivalents	0.605	2.192	1.381
(e) Short-term loans and advances	2.953	1.385	1.116
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	14.602	21.581	30.027
TOTAL	21.778	28.876	33.689

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	38.351	28.886	47.674
Less	EXPENSES
		TOTAL	38.289	28.816	43.617
	PROFIT BEFORE TAX		0.062	0.070	4.057
Less	TAX		0.023	0.022	1.267
	PROFIT AFTER TAX		0.039	0.048	2.790
	Earnings Per Share (Rs.)		3.90	4.80	279.0

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 Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.28	0.24	12.13
Return on Investment (ROI) (PBT/Networth)		0.01	0.02	0.93
Debt Equity Ratio (Total Debt/Networth)		3.39	4.86	5.20
Current Ratio (Current Asset/Current Liability)		1.23	1.67	2.13

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	0.100	0.100	0.100
Reserves & Surplus	4.262	4.310	4.349
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4.362	4.410	4.449
Long-term borrowings	15.224	11.508	5.485
Short term borrowings	7.469	9.909	9.610
Total borrowings	22.693	21.417	15.095
Debt/Equity ratio	5.202	4.856	3.393

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	47.674	28.886	38.351
		(39.409)	32.767

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 Income	47.674	28.886	38.351
Profit	2.790	0.048	0.039
	5.85%	0.17%	0.10%

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	No
8	Designation of contact person	No
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	No
17	Details of sister concerns	No
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 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	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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10312949	08/10/2014 *	15,000,000.00	AXIS BANK LIMITED	GOUND FLOOR, ABANJANI S NO 257, PLOT NO 2, BHOSAL E MALA, NEAR HOTEL RADHIKA PALACE, SATARA- 141500, MAHARASHTRA, INDIA	C45821550

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Prasanna Deshmukh	1.937	2.175
Inter-corporate Deposit
Utopla Automation and Control Private Limited	2.771	8.757
Utopla Membrances Private Limited	0.500	0.000
Total	5.208	10.932

FIXED ASSETS:

Tangible Assets

· Buildings

· Bicycle

· Computer

· Leasehold Land

· Electrical Fittings

· Machinery

· Furniture and Fixtures

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. 65.79
UK Pound	1	Rs. 99.95
Euro	1	Rs. 71.55

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.