MIRA INFORM REPORT

Report No. :	348364
Report Date :	09.11.2015

IDENTIFICATION DETAILS

Name :	OMORI INDIA PRIVATE LIMITED (w.e.f.13.11.2013)
Formerly Known As :	MULTI PACK SYSTEMS PRIVATE LIMITED MULTI PRINTS PRIVATE LIMITED
Registered Office :	9th, Neptune Towers, Productivity Road, Alkapuri, Vadodara-390005, Gujarat
Tel. No.:	91-265-6625902 / 03/ 04
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.07.1980
Com. Reg. No.:	04-003860
Capital Investment / Paid-up Capital :	Rs. 4.000 Million
CIN No.: [Company Identification No.]	U22122GJ1980PTC003860
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Packing Machines.
No. of Employees :	107 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1295000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	The subject is a subsidiary company of Omori Investments Co Limited Japan. It has satisfactory track. The company was erstwhile known by the name of “’Multi Pack Systems private Limited” and later the name got changed to “Omori India Private Limited” as on 13^th November 2013. It is leading manufacturer of high-speed flow wrap machines and automatic feeding and product handling systems for food and non-food applications. The rating takes into consideration sound financial risk profile of the company marked by adequate networth base and comfortable debt level in the year 2014. However, the company has reported decrease in its revenue base and has reported losses from its operations in the same consecutive year. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of support from the holding company, the subject 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

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. B.K. Mehta
Designation :	Accounts Manager
Contact No.:	91-265-3959999
Date :	09.11.2015

LOCATIONS

Registered Office :	9th, Neptune Towers, Productivity Road, Alkapuri, Vadodara-390005, Gujarat, India
Tel. No.:	91-265-6625902 / 03/ 04/ 3959999
Fax No.:	91-265-2336811/ 2353168
E-Mail :	msinghal@knm.in mktg@multiwrap.com
Website :	http://www.omori.co.in

DIRECTORS

AS ON 29.09.2014

Name :	Mr. Yasuo Kato Katoh
Designation :	Managing director
Address :	3-14-14, Katsutadai Minami, Yachiyo-Shi, Chiba, 2760025, Japan
Date of Birth/Age :	01.09.1947
Date of Appointment :	20.09.2013
DIN No.:	06659654
Name :	Mr. Toshio Omori
Designation :	Director
Address :	3-19-16, Sendagi, Bunkyo-ku, Tokyo, 1130022, Japan
Date of Birth/Age :	12.02.1950
Date of Appointment :	20.09.2013
DIN No.:	06659680
Name :	Mr. Tomiji Saito
Designation :	Director
Address :	500-2, Seimon-cho, Souka-shi, Saitama, 3400055, Japan
Date of Birth/Age :	24.09.1948
Date of Appointment :	20.09.2013
DIN No.:	06659931
Name :	Mr. Akira Yamazaki
Designation :	Director
Address :	2-15-11, Mama, Ichikawa-SHI, Chiba, 2720826, Japan
Date of Birth/Age :	28.08.1949
Date of Appointment :	20.09.2013
DIN No.:	06671477

KEY EXECUTIVES

Name :	Mr. B.K. Mehta
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares
Rohit Jayramdas Patel	55
Bina Bharat Patel Joint withBharat Haridas Patel	3600
Neeta Rohit Patel Joint with Rohit Jayramdas Patel	1155
Bina Bharat Patel Joint with Bharat Haridas Patel	400
Rohit Jayramdas Patel Joint with Neeta Rohit Patel	2595
Neeta Rohit Patel Joint with Rohit Jayramdas Patel	195
Omori Investment Company Limited, Japan	31995
Omori Machinery Company Limited, Japan	5
Total	40000

AS ON 29.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	80.00
Directors or relatives of directors	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Packing Machines.
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 :

107 (Approximately)

Bankers :

Bank Name:	Indian Overseas Bank
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· HDFC Bank Limited

HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Auditors :

Name :

A. J. Shah and Company

Chartered Accountants

Address :

Fort Chambers "C' Block`, 65 Tamarind Lane, Fort, Mumbai-400023, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAFA3817F

Memberships :

--

Collaborators :

--

Holding Company :

Omori Investments Co. Limited – Japan

Companies/Firm over which the directors have significant influence or control :

· VFC Industries Private Limited

· JMP Trading and Properties Private Limited

· Gangotri Trading Co. Private Limited

· Omori Machinery Co. Limited

· Beijing Omori Chanhkong Packing Mach Co. Limited

Companies/Firm over which the key managerial person relative of key managerial person have significant influence or control :

· Santonics

· Cad and Controls

· Industrial Technical services

· Motion Mechanics

· Excellent Engineering Services

· S.S. Precision Engineers

· Precision Mechanics

· Motion Mechanic Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 100/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40,000	Equity Shares	Rs. 100/- each	Rs. 4.000 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	4.000	4.000	4.000
(b) Reserves & Surplus	449.531	693.128	642.729
(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)	453.531	697.128	646.729
(3) Non-Current Liabilities
(a) Long-term borrowings	340.000	0.000	0.000
(b) Deferred tax liabilities (Net)	5.418	3.279	3.156
(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)	345.418	3.279	3.156
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	43.458	37.906	48.867
(c) Other current liabilities	81.071	107.947	159.222
(d) Short-term provisions	80.933	28.004	15.540
Total Current Liabilities (4)	205.462	173.857	223.629
TOTAL	1004.411	874.264	873.514
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	43.923	57.033	63.038
(ii) Intangible Assets	0.044	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	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.548	97.486	96.271
(e) Other Non-current assets	0.869	2.278	2.215
Total Non-Current Assets	46.384	156.797	161.524
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	257.696	177.981	165.094
(c) Trade receivables	93.997	172.262	126.651
(d) Cash and cash equivalents	520.875	300.296	379.573
(e) Short-term loans and advances	17.738	13.695	8.388
(f) Other current assets	67.721	53.233	32.284
Total Current Assets	958.027	717.467	711.990
TOTAL	1004.411	874.264	873.514

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	915.875	1227.603	1161.296
Less	EXPENSES
		TOTAL	785.172	947.279	908.283
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(Including Depreciation Expenses)	(Including Depreciation Expenses)	241.498
Less/ Add	DEPRECIATION/ AMORTISATION				11.515
	PROFIT BEFORE EXCEPTIONAL ITEMS AND EXTRAORDINARY ITEMS		130.703	280.324	241.498
Less	INTER CORPORATE DEPOSIT WRITTEN OFF		94.935	0.000	0.000
	PROFIT BEFORE TAX		35.768	280.324	241.498
Less	TAX		56.442	90.458	79.048
	PROFIT AFTER TAX		(20.674)	189.866	162.450
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		379.128	347.729	295.566
Less	APPROPRIATIONS
		Interim Dividend	140.541	120.000	80.000
		Tax on Interim Dividend	23.885	19.467	13.287
		Proposed/Final Dividend	50.000	0.000	0.000
		Tax on Proposed/Final Dividend	8.498	0.000	0.000
		transfer to General reserves	0.000	19.000	17.000
	BALANCE CARRIED TO THE B/S		135.530	379.128	347.729
	FOREIGN EXCHANGE EAARING (FOB SALES)		209.864	224.321	NA
	Earnings Per Share (Rs.)		516.85	4746.65	4061.25

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	82.281	194.215	204.900
Net Cash Flow from used in Operations	13.562	110.712	124.599

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	3.56	32.06	27.65
Return on Investment (ROI) (PBT/Networth)		0.08	0.40	0.37
Debt Equity Ratio (Total Debt/Networth)		0.75	0.00	0.00
Current Ratio (Current Asset/Current Liability)		4.66	4.13	3.18

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	4.000	4.000	4.000
Reserves & Surplus	642.729	693.128	449.531
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	646.729	697.128	453.531
Long-term borrowings	0.000	0.000	340.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	340.000
Debt/Equity ratio	0.000	0.000	0.750

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	1161.296	1227.603	915.875
		5.710	-25.393

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	1161.296	1227.603	915.875
Profit	162.450	189.866	-20.674
	13.99%	15.47%	-2.26%

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	Yes
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 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	10474337	11/12/2013	100,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B94987765

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Fully Compulsory Convertible Debenture	340.000	0.000
Total	340.000	0.000

OPERATIONS:

The sale of machinery and spares and income by way of service charges for the year amounted to Rs.1227.603 Million [ excluding excise duty and service tax ] as against Rs.1161.296 Million [ excluding excise duty and service tax ]for the previous year out of which revenue from exports amounted to Rs.224.321 Million as compared to Rs.235.422 Million in the previous year.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Leasehold Improvements

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

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--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	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		45

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.