MIRA INFORM REPORT

Report No. :	349870
Report Date :	18.11.2015

IDENTIFICATION DETAILS

Name :	ALLIANCE ORGANICS LLP
Registered Office :	Gala No.16/17, 3^rd Floor, Shree Kamdhenu Estate, Cross Link Road, Chincholi Bunder, Malad (West), Mumbai - 400064, Maharashtra
Tel. No.:	91-22-28725721 /31 / 28826803
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.12.2010
Total Obligation of Contribution:	Rs. 0.100 Million
LLLP No.:	AAA-3045
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Limited Liability Partnership
Line of Business :	Manufacturer and Exporter of Dyestuff Pigments and Food Colours.
No. of Employees :	25 (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 300
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established limited liability partnership having satisfactory track record. Rating takes consideration on subject’s significant improvement into its sales turnover and profitability margin during year under review. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. Subject can be considered normal for business dealings at usual trade terms and condition.

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

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 (GENERAL DETAILS)

Name :	Mr. Kunal Bharat Mehta
Designation :	Designated Partner
Contact No.:	91-9867606489
Date :	17.11.2015

LOCATIONS

Registered Office/ Factory :	Gala No.16/17, 3^rd Floor, Shree Kamdhenu Estate, Cross Link Road, Chincholi Bunder, Malad (West), Mumbai-400064, Maharashtra, India
Tel. No.:	91-22-28725721 /31 / 28826803
Mobile No.:	91-9867606489 (Mr. Kunal Mehta)
Fax No.:	91-22-28725721
E-Mail :	Mr_kunalmehta@hotmail.com sales@allianceorganics.com
Website :	www.allianceorganics.com
Location :	Owned

DIRECTORS

As on 31.03.2014

Name :

Mr. Kunal Bharat Mehta

Designation :

Designated Partner

Address :

B-1206, Whispering Heights Mind Space, Chincholi Bunder Road, Malad, Mumbai-400064, Maharashtra, India

Date of Birth/Age :

11.07.1980

Date of Appointment :

08.12.2010

PAN No.:

AEEPM46024A

Passport No.:

Z1778305

DPIN No.:

01479060

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	U24110MH1995PTC086546	KOLORJET CHEMICALS PRIVATE LIMITED	Director	03/05/2007	03/05/2007	05/02/2013	Active	NO
2	AAA-3045	ALLIANCE ORGANICS LLP	Designated Partner	08/12/2010	08/12/2010	-	Active	NO

Name :

Ms. Ratna Kunal Mehta

Designation :

Designated Partner

Address :

B-1206, Whispering Heights Mind Space, Chincholi Bunder Road, Malad, Mumbai-400064, Maharashtra, India

Date of Birth/Age :

07.12.1977

Date of Appointment :

08.12.2010

PAN No.:

AAYPS9934R

Passport No.:

H7995541

DPIN No.:

05011488

CONTRIBUTION DETAILS

As on 31.03.2014

Names of Person	Rs. in Million
Kunal Bharat Mehta	0.070
Ratna Kunal Mehta	0.030
Total	0.100

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Dyestuff Pigments and Food Colours.
Products :	Dyestuff Pigments Food Colours
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	United State of America China Turkey European Countries Pakistan
Imports :	Not Available
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

25 (Approximately)

Bankers :

Bank Name	Yes Bank Limited
Branch	Ground and 1st Floor, Shop No E and F of A K Plaza, Junction of Veer Savarkar Flyover and S V Road, Goregaon West, Mumbai – 400062, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	91- 22-67426074 (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

Auditors :
Name :	Vishal Lahoti Chartered Accountant
Address :	A-703, Aruna Residency, Mumbai-400064, Maharashtra, India
E-Mail :	Vishallahoti80@yahoo.co.uk
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Total obligation Fund 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
SHAREHOLDERS FUNDS
1] Contribution received		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.100	0.100	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		53.728	39.286	20.733
TOTAL BORROWING		53.728	39.286	20.733
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		53.828	39.386	20.833
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.949	10.211	1.019
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	27.383	6.949	4.319
	Sundry Debtors	55.449	61.283	28.285
	Cash & Bank Balances	24.048	20.221	9.414
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	11.761	6.494	2.317
Total Current Assets		118.641	94.947	44.335
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	74.755	65.227	23.456
	Other Current Liabilities	0.549	0.181	0.172
	Provisions	0.458	0.364	0.891
Total Current Liabilities		75.762	65.772	24.519
Net Current Assets		42.879	29.175	19.816
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		53.828	39.386	20.833

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	861.985	454.162	104.068
		Sale of goods traded	6.048	0.179	0.066
		Other Income	24.363	16.618	2.691
		TOTAL (A)	892.396	470.959	106.825
Less	EXPENSES
		Purchases made for re-sale	804.164	404.772	88.617
		Consumption of stores and spare parts	2.293	1.890	0.456
		Personnel expenses	2.734	2.338	0.890
		Administrative expenses	3.372	1.931	1.480
		Payment to auditors	0.259	0.259	0.025
		Selling expenses	37.256	27.669	9.643
		Insurances expenses	1.826	1.584	0.304
		Increase / (Decrease) in stocks	(20.434)	(2.630)	(4.319)
		TOTAL (B)	831.470	437.813	97.096
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		60.926	33.146	9.729
Less	FINANCIAL EXPENSES (D)		3.851	3.200	0.623
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		57.075	29.946	9.106
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.518	1.153	0.181
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		55.557	28.793	8.925
Less	TAX (H)		19.067	8.911	2.898
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		36.490	19.882	6.027

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.23	4.38	5.79
Operating Profit Margin (PBIDT/Sales)	(%)	7.07	7.30	9.35
Return on Total Assets (PBT/Total Assets}	(%)	42.87	27.38	19.68
Return on Investment (ROI) (PBT/Networth)		555.57	287.93	89.25
Debt Equity Ratio (Total Debt /Networth)		537.28	392.86	207.33
Current Ratio (Current Asset/Current Liability)		0.83	0.84	0.93

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)
Contribution received	0.100	0.100	0.100
Reserves & Surplus	0.000	0.000	0.000
Net worth	0.100	0.100	0.100
Secured Loans	0.000	0.000	0.000
Unsecured Loans	20.733	39.286	53.728
Total borrowings	20.733	39.286	53.728
Debt/Equity ratio	207.330	392.860	537.280

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	104.068	454.162	861.985
		336.409	89.797

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	104.068	454.162	861.985
Profit	6.027	19.882	36.490
	5.79%	4.38%	4.23%

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	No
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	Yes
21]	Banking facility details	No
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	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

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.65.98
UK Pound	1	Rs.100.10
Euro	1	Rs.70.34

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KAS
Report Prepared by :	JYTK

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	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	NO
--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	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.