MIRA INFORM REPORT

Report No. :	349258
Report Date :	16.11.2015

IDENTIFICATION DETAILS

Name :	AMORPHOS CHEMICALS PRIVATE LIMITED

Registered Office :	F-42, Fourth Floor, Village Saidulajab, P.O. Mehrauli, Delhi – 110030
Tel No.:	91-11-47096831

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	20.12.1993

Com. Reg. No.:	55-056531

Capital Investment / Paid-up Capital :	Rs. 60.000 Million

CIN No.: [Company Identification No.]	U74899DL1993PTC056531

IEC No.:	0504013203

TAN No.: [Tax Deduction & Collection Account No.]	DELA04803B

PAN No.: [Permanent Account No.]	AAACA4938L

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of Chemicals and Polyester Film

No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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 was incorporated on 20^th December, 1993. It is engaged in the business of trading of chemicals and polyester film. It has satisfactory track record. Reserves and profitability of the company is low during FY2014. However, liquidity of the company is fair marked by favorable gap between trade receivables and payables. However, trade relations are fair. Business is active. Payment are reported to be slow but 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 :	Ms. Nitu Oswal
Designation :	Accounts Managers
Contact No.:	91-9873402625
Date :	10.11.2015

LOCATIONS

Registered Office :	F-42, Fourth Floor, Village Saidulajab, P.O. Mehrauli, Delhi – 110030, India
Tel. No.:	91-11-47096831
Mobile No.:	91-9873402625 (Mr. Nitu)
Fax No.:	91-11-47096835
E-Mail :	amorphosedhelhi@gmail.com caashok110@gmail.com
Website :	http://www.amorphos.in
Location :	Owned
Locality :	Commercial

Godown:	Khasra No.34/8/2/9, Tikri Kalan, Behind Tikri Service Station, Delhi – 110041, India

Branches :	Dehradun Shop No. 7, Village Kandal, Opp. Green Land Public School, Bhaniyawala, Dehradun Rishikesh Highway, Dehradun-248 140, Uttarakhand Mumbai Office No. 110, Swastik Plaza, Near Voltas Co., Pokharan Road No.2, Subhash Nagar, Thane (West)-400601, Maharashtra, India Tel No.:92-22-40241108 E-mail : amorphosmumbai@gmail.com Kolkata Premises No.5, Hide Road, Kolkata – 700043, West Bangal Tel No. : 91-33-24210405 E-mail : amorphoscalcutta1@gmail.com Vapi Plot No. 316, Center Point, Shop No. 101, Shopping Center, 1st Floor, 40 Shed Area, GDIC, Vapi-396195, Gujarat E-mail : amorphosvapi@gmail.com Chennai 4/9, Circular Road United India Colony, Kodambakkam, Chennai - 600 024, Tamilnadu, India Tel No. : 91-44-43565286 E-mail : amorphoschennai@gmail.com Morbi Shop No.-18, 1st Floor, Ceramic Plaza-2, 8A National Highway, Morbi-363642, Gujarat E-mail : amorphosvapi@gmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Yogesh Kumar Aggarwal

Designation :

Managing Director

Address :

K 3D, Saket, New Delhi – 110017, Delhi, India

Date of Birth/Age :

25.11.1965

Date of Appointment :

04.06.2011

PAN No.:

AAEPA5206C

DIN No.:

01317635

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	U74899DL1993PTC056531	AMORPHOS CHEMICALS PRIVATE LIMITED	Managing director	20/12/1993	20/12/1993	-	Active	NO
2	U74950DL2001PTC110147	AMORPHOS PACKAGING PRIVATE LIMITED	Director	01/11/2007	01/11/2007	01/12/2011	Active	NO
3	U51909DL2011PTC216358	MS HARI OM TRADING COMPANY PRIVATE LIMITED	Additional director	04/04/2011	04/04/2011	-	Active	NO
4	L24119DL1995PLC071851	AMORPHOS INDUSTRIES LIMITED	Managing director	04/06/2011	04/06/2011	-	Active	NO

Name :

Mrs. Sapna Agarwal

Designation :

Director

Address :

K 3D, Saket, New Delhi – 110017, Delhi, India

Date of Birth/Age :

05.11.1966

Date of Appointment :

16.03.2006

PAN No.:

AACPA4153G

DIN No.:

00052272

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	U74999UP1969PTC003256	VAISH BROTHERS AND COMPANY PRIVATE LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
2	U74899DL1993PTC056531	AMORPHOS CHEMICALS PRIVATE LIMITED	Director	16/03/2006	16/03/2006	-	Active	NO
3	U24100DL2008PTC177091	AQUASHIELD CHEMTECH PRIVATE LIMITED	Director	23/04/2008	23/04/2008	01/08/2013	Active	NO
4	U51909DL2011PTC216358	MS HARI OM TRADING COMPANY PRIVATE LIMITED	Additional director	04/04/2011	04/04/2011	-	Active	NO
5	L24119DL1995PLC071851	AMORPHOS INDUSTRIES LIMITED	Director	20/09/2011	04/06/2011	-	Active	NO
6	U74950DL2001PTC110147	AMORPHOS PACKAGING PRIVATE LIMITED	Director	01/07/2013	01/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Brinda Seth
Designation :	Secretary
Date of Appointment :	15.02.2014
PAN No.:	BWPPS7310M

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Mr. Yogesh Kumar Aggarwal	524450
Mrs. Sapna Aggarwal	64700
Mr. Jai Kishan Dass Aggarwal	50
Mr. Rajiv Vaish	2150
Mr. Aditya Aggarwal	8600
Mr. Aman Vaish	50
Total	600000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Chemicals and Polyester Film

Products :	Acrylic Polymer AMCRYL –SBR AMCRYL – 76 AMCRYL – 400 Dispersing Agent (Sodium Naphthalene Formaldehyde) ACPL SNF-150 Liquid ACPL SNF 102 Liquid ACPL SNF Powder Specialty Chemicals AMBIND AMFLOW Imported Chemicals ACPL –SLS (Sodium Ligno Sulphonate) –Imported Sodium Gluconate

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :
Products :	Chemical Products
Countries :	China Korea

Terms :
Selling :	Credit

Purchasing :	Advance Payment

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Sachin Enterprises
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 :

Wholesalers, End Users

Reference :	Cico Technologies
Name of the Person :	Not Divulged
Contact No.:	91-9811446336 (Continuously Ringing)
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

No. of Employees :

25 (Approximately)

Bankers :

Chinatrust Commercial Bank - A-1/16, Wenger House, Rajiv Chowk, Connaught Place, New Delhi – 110001, Delhi, India

Banker Name	Standard Chartered Bank
Branch Address	Sanadmarg Branch, New Delhi, India
Person Name (With Designation)	Not Divulged
Contact Number	91-11-23406202 (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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Term Loans from banks	9.105	10.626
Term Loans from others	0.000	1.000
Other loans and advances	0.000	0.634

SHORT-TERM BORROWINGS
Foreign currency term loans from banks	48.603	27.013
Working capital from banks	65.211	64.597
Loans repayable on demand	30.165	21.729
Loans and advances from related parties	20.770	15.855
Total	173.854	141.454

Auditors :
Name :	Jain Ashok Kumar Chartered Accountant
Address :	501, Sharp Bhawan, Commercial Complex Azadpur, Delhi 110033, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAGPJ0497A

Memberships :	Not Available

Collaborators :	Not Available

Entering Which are owned, or have significant influence of or are partners with Key management personnel and their relatives.	Amorphos Packaging Private Limited, India (U74950DL2001PTC110147)

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

600000	Equity Shares	Rs.100/- each	Rs.60.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

600000	Equity Shares	Rs.100/- each	Rs.60.000 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	60.000	49.000	40.000
(b) Reserves & Surplus	18.353	16.166	10.546
(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)	78.353	65.166	50.546

(3) Non-Current Liabilities
(a) long-term borrowings	9.105	12.260	139.376
(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)	9.105	12.260	139.376

(4) Current Liabilities
(a) Short term borrowings	164.749	129.194	0.000
(b) Trade payables	181.351	171.492	183.639
(c) Other current liabilities	28.699	17.831	9.965
(d) Short-term provisions	6.752	5.411	2.768
Total Current Liabilities (4)	381.551	323.928	196.372

TOTAL	469.009	401.354	386.294

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.919	5.987	6.956
(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	0.000
(c) Deferred tax assets (net)	0.634	0.562	0.430
(d) Long-term Loan and Advances	1.123	1.294	1.129
(e) Other Non-current assets	0.000	0.058	0.144
Total Non-Current Assets	6.676	7.901	8.659

(2) Current assets
(a) Current investments	0.000	0.000	2.000
(b) Inventories	23.646	37.959	58.475
(c) Trade receivables	411.103	322.122	298.049
(d) Cash and cash equivalents	14.728	13.401	6.274
(e) Short-term loans and advances	12.624	18.168	10.167
(f) Other current assets	0.232	1.803	2.670
Total Current Assets	462.333	393.453	377.635

TOTAL	469.009	401.354	386.294

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012

	TOTAL INCOME	831.964	808.604	794.844

Less	TOTAL EXPENSES	811.064	781.112	769.942

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION	20.900	27.492	24.902

Less	INTEREST COST	15.780	17.542	19.463

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION	5.120	9.950	5.439

Less	DEPRECIATION	1.487	1.818	2.315

	PROFIT/ (LOSS) BEFORE TAX	3.633	8.132	3.124

Less	TAX	1.446	2.513	0.892

	PROFIT/ (LOSS) AFTER TAX	2.187	5.619	2.232

	Earnings / (Loss) Per Share (Rs.)	3.645	9.365	3.72

Particulars

31.03.2015

Sales Turnover (Approximately)

580.000

(Due to market fluctuation)

The above information has been parted by Ms. Nitu Oswal (Account Manager).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	3.155	8.387	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Total Income)	(%)	0.26	0.69	0.28

Operating Profit Margin (PBIDT/Sales)	(%)	2.51	3.40	3.13

Return on Total Assets (PBT/Total Assets}	(%)	0.78	2.03	0.81

Return on Investment (ROI) (PBT/Networth)		0.05	0.12	0.06

Debt Equity Ratio (Total Debt /Networth)		2.25	2.29	2.76

Current Ratio (Current Asset/Current Liability)		1.21	1.21	1.92

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	40.000	49.000	60.000
Reserves & Surplus	10.546	16.166	18.353
Net worth	50.546	65.166	78.353

long-term borrowings	139.376	12.260	9.105
Short term borrowings	0.000	129.194	164.749
Total borrowings	139.376	141.454	173.854
Debt/Equity ratio	2.757	2.171	2.219

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	794.844	808.604	831.964
		1.731	2.889

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	794.844	808.604	831.964
Profit	2.232	5.619	2.187
	0.28%	0.69%	0.26%

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)	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	--
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%	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10359748	31/12/2014 *	95,000,000.00	STANDARD CHARTERED BANK	10, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA	C39260559
2	10206775	20/05/2014 *	35,000,000.00	BIBBY FINANCIAL SERVICES (INDIA) PRIVATE LIMITED	121, FIRST FLOOR, SECTOR - 44, GURGAON, HARYANA - 122003, INDIA	C06541353

* Date of charge modification

FIXED ASSETS

Tangible assets

Plant and equipment
Furniture and fixtures
Vehicles
Office equipment
Computer equipment’s

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.66.14
UK Pound	1	Rs.100.55
Euro	1	Rs.71.26

INFORMATION DETAILS

Information Gathered by :	KAM

Analysis Done by :	RAS

Report Prepared by :	GEET

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
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	3
--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		41

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

INDEX OF CHARGES

Unit