MIRA INFORM REPORT

Report No. :	349479
Report Date :	10.11.2015

IDENTIFICATION DETAILS

Name :	NAHAR PACKERS
Registered Office :	V.P.O. Kotla Gounspur, Bharwain Road, Adamwal, Hoshiarpur – 146001, Punjab
Tel. No.:	91-1882-239482
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment :	1996
Capital Investment / Paid-up Capital :	Rs. 1.509 Million
IEC No.:	Not Available
TIN No.:	03241086321
PAN No.: [Permanent Account No.]	ADBPJ2894D
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturing of Printing and Packing Materials.
No. of Employees :	37 (Approximately) (Office=7 + Factory=30)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established proprietorship concern having satisfactory track. It was started in the 1996 and it is the manufacturer of printing and packing materials. Mr. Mohit Jain, Accountant has provided all information of the subject to us. The financial position of the concern seems to be good with decent profit margin recorded during the year 2015. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. In view of aforesaid, concern 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	A1	A1

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

RBI DEFALTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFALTERS’ 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. Mohit Jain
Designation :	Accountant
Contact No.:	91-9779005777
Date :	06.11.2015

LOCATIONS

Registered Office / Factory:	V.P.O. Kotla Gounspur, Bharwain Road, Adamwal, Hoshiarpur – 146001, Punjab, India
Tel. No.:	91-1882-239482
Mobile No.:	91-9814402777 / 8288025201 (Mr. Sachin Jain)
Fax No.:	Not Available
E-Mail :	naharpackers@yahoo.com
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Sachin Jain
Designation :	Proprietor
Address :	Mount View Colony, Kotla Gounspur, Bharwain Road, Adamwal, Hoshiarpur – 146001, Punjab
Date of Birth/Age :	10.12.1978
Qualification :	Matric
Experience :	20 Years

KEY EXECUTIVES

Name :	Mr. Mohit Jain
Designation :	Accountant

BUSINESS DETAILS

Line of Business :	Manufacturing of Printing and Packing Materials.
Products :	Packing Material
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	L/C, and Credit (30/ 60 Days)
Purchasing :	Cash

GENERAL INFORMATION

Suppliers :

• K.B. Paper Mart, Ludhiana, Punjab, India
• A P Enterprises Private Limited, Chandigarh

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

Customers :

Wholesalers and Manufacturer

• Vardhman Yarns and Treads Limited, Hoshiarpur
• Prashanti Formulations Limited, Hoshiarpur
• Puro Power Bushes Bearing, Hoshiarpur
• Usha Martin, Hoshiarpur

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

No. of Employees :

37 (Approximately) (Office=7 + Factory=30)

Bankers :

Banker Name	State Bank of Patiala
Branch Address	Kanak Mandi Hoshiarpur – 146001, Punjab, India
Person Name (With Designation)	Not Divulged
Contact Number	91-1882-222688
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)	Cash / Credit – Rs. 4.000 Million
Account Operation	Not Divulged
Remarks (If any)	Management non co-operative

Auditors :

Name :

Kumar and Anand

Chartered Accountant

Address :

Opposite New Modern Hspital, Central Town, Hoshiarpur, Punjab, India

Memberships :

Not Available

Collaborators :

Not Available

Sister Concern:

Name:	Arihant Box Factory
Address:	B-5/361, Sarafan Bazar, Hoshiarpur, Punjab, India
LOB:	Manufacturing of Printing and Packing Materials.

CAPITAL STRUCTURE

As on: 31.03.2015

Particular	Amount	Particular	Amount
To Opening Balance	1.338	By Drawing	0.531
To Net Profit for the year	0.702
		By Closing Balance	1.509
Total	2.040	Total	2.040

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2014	31.03.2013
Sales Turnover (Approximately)	12.947	11.584
Profit/Loss for the year	0.624	0.058

The above information has been parted by Mr. Mohit Jain (Accountant).

Note: Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015
SHAREHOLDERS FUNDS
1] Share Capital		1.509
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		1.509
LOAN FUNDS
1] Secured Loans		5.565
2] Unsecured Loans		0.278
TOTAL BORROWING		5.843
DEFERRED TAX LIABILITIES		0.000
TOTAL		7.352
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.200
Capital work-in-progress		0.000
INVESTMENT
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.928
	Sundry Debtors	2.844
	Cash & Bank Balances	0.426
	Other Current Assets	0.000
	Loans & Advances	0.946
Total Current Assets		10.144
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.923
	Other Current Liabilities	0.000
	Expenses Payable	0.069
Total Current Liabilities		5.992
Net Current Assets		4.152
MISCELLANEOUS EXPENSES		0.000
TOTAL		7.353

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015
	SALES
		Income	13.901
		Other Income	0.835
		TOTAL	14.736
Less	EXPENSES
		Cost of Materials Consumed	10.906
		Freight Expenses	0.033
		Wages	0.286
		Power and electricity	0.374
		Bank charges	0.025
		Bank interest	0.622
		Audit fees	0.003
		Accounting charges	0.008
		Advertisement	0.004
		Car expenses	0.071
		Legal expenses	0.001
		Generator expenses	0.020
		Interest expenses	0.187
		Machinery repairs	0.046
		ESIC contribution	0.041
		EPF Contribution	0.155
		Patrol and Diesel	0.098
		Salaries	0.258
		Rent	0.096
		Insurance	0.023
		Staff welfare expenses	0.040
		Misc. expenses	0.008
		Rate offence	0.137
		Telephone bill	0.011
		Computer maintenance	0.005
		Vat processing fees	0.001
		Discount paid	0.021
		Travelling expenses	0.042
		Scooter expenses	0.001
		TOTAL	13.523
	PROFIT BEFORE DEPRECIATION		1.213
Less/ Add	DEPRECIATION/ AMORTISATION		0.511
	NET PROFIT		0.702

KEY RATIOS

PARTICULARS		31.03.2015
Net Profit Margin (PAT / Sales)	(%)	5.05
Return on Total Assets (PBT/Total Assets}	(%)	0.05
Return on Investment (ROI) (PBT/Networth)		0.47
Debt Equity Ratio (Total Debt /Networth)		3.87
Current Ratio (Current Asset/Current Liability)		1.69

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	11.584	12.947	14.736
Profit	0.058	0.624	0.702
	0.50%	4.82%	4.76%

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	11.584	12.947	14.736
		11.766	13.818

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	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	No
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

Fixed Assets:

• Land and Building
• Plant and Machinery
• Car
• Generator
• Machinery
• Scooter
• Tools
• Computer

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 records 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.66.34
UK Pound	1	Rs.100.03
Euro	1	Rs.71.45

INFORMATION DETAILS

Information Gathered by :	PRY
Analysis Done by :	HNA
Report Prepared by :	MTN

SCORE & 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	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.