MIRA INFORM REPORT

Report No. :	351266
Report Date :	27.11.2015

IDENTIFICATION DETAILS

Name :	MACHINO POLYMERS LIMITED (w.e.f. 29.06.2007)
Formerly Known As :	MACHINO – BASELL INDIA LIMITED
Registered Office :	Plot No. 02, Sector 33, Delhi Jaipur Highway, Gurgaon – 122001, Haryana
Tel. No.:	91-124-4684200-201/4031856-60
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	30.09.1996
Com. Reg. No.:	05-033306
Capital Investment / Paid-up Capital :	Rs. 240.866 Million
CIN No.: [Company Identification No.]	U25201HR1996PLC033306
IEC No.:	0597037515
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
PAN No.: [Permanent Account No.]	AABCM9618E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Importer of Polypropylene Compound and Advance Material
No. of Employees :	159 (Approximately)

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

Maximum Credit Limit :	USD 3599000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is entirely held by the promoters (Jindal family) and various promoter group companies (Machino Group). Machino Polymers Limited (MPL) is engaged in the manufacture of polypropylene compounds for supplies to various automotive. The company’s manufacturing facilities are located at Gurgaon (Haryana). The rating takes into consideration on company’s satisfactory financial profile, decent capital structure, low leverage and comfortable debt protection metrics. The rating also takes comfort from the established track record of its operations and experienced promoter group which will be beneficiary to the company in medium to long term run. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings with usual trade term 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

Rating Agency Name	ICRA
Rating	Cash Credit : BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	December, 2014

Rating Agency Name	ICRA
Rating	Letter of credit facilities A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	December, 2014

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. Amit Kumar Srivastav
Designation :	Company Secretary
Contact No.:	91-124-4684228
Date :	24.11.2015

LOCATIONS

Registered Office / Head Office / Factory :	Plot No. 02, Sector 33, Delhi Jaipur Highway, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-4684200-201/4031856-60
Fax No.:	91-124-4684299/4031841
E-Mail :	administrator@machinopolymers.com ssingh1@machinopolymers.com cs@machinopolymers.com
Website :	www.machinopolymers.com
Regional Office 1 :	F1, MIDC, Chakan Industrial Area, Village - Kharbwadi, Taluka - Khed, Pune-410501, Maharashtra, India
Regional Office 2 :	Plot No. S-16, SIPCOT Industrial Park,  Pillaipakkam, Sriperumbudur Taluk,  Kancheepuram-602105, Tamilnadu, India
Regional Office 3 :	Shop No.1, Opposite Shree Cement, Tehsil-Tijara, Bhiwadi-301707, Khuskhera, Alwar, Rajasthan, India

DIRECTORS

As on 31.03.2015

Name :

Mr. Muralidhar Jindal

Designation :

Managing Director

Address :

Jindal House 8A, Alipore Road, Kolkata- 700027, West Bengal, India

Date of Birth/Age :

28.01.1929

Qualification :

Graduate

Date of Appointment :

01.03.2013

PAN No.:

ACPPJ2630J

DIN No. :

00017753

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	U28939WB1955PLC022441	MACHINO TECHNO SALES LIMITED	Director	01/12/2008	27/06/1955	-	Active	NO
2	U27109WB1965PTC026332	MACHINO FINANCE PRIVATE LIMITED	Director	18/01/1965	18/01/1965	-	Active	NO
3	U51909WB1974PTC029686	RAJIV EXPORT INDUSTRIES PRIVATE LIMITED	Director	04/10/1974	04/10/1974	-	Active	NO
4	U63022WB1979PTC032409	MACHINO TRANSPORT PRIVATE LIMITED	Director	10/12/1979	10/12/1979	-	Active	NO
5	U51909WB1985PTC039586	MACHINO MOTORS PRIVATE LIMITED	Director	04/10/1985	04/10/1985	-	Active	NO
6	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Managing director	01/03/2013	30/09/1996	-	Active	NO
7	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Whole-time director	21/09/2011	24/01/2003	-	Active	NO
8	U80302DL2005PTC137045	MACHINO ANIMATION PRIVATE LIMITED	Director	01/06/2005	01/06/2005	15/07/2008	Active	NO
9	U51103HR2008PTC038361	GRUPO ANTOLIN CHAKAN Private Limited	Director	19/09/2008	19/09/2008	11/09/2014	Active	NO
10	U22122WB2003PTC095631	MACHINO MEDIA PRIVATE LIMITED	Director	14/06/2010	14/06/2010	-	Active	NO
11	U35900HR2010PTC040899	Machino Auto Comp Tooling Private Limited	Director	14/07/2010	14/07/2010	-	Active	NO

Name :

Mr. Arjun Jindal

Designation :

Whole-time director

Address :

Jindal House 8A, Alipore Road, Kolkata- 700027, West Bengal, India

Date of Birth/Age :

12.03.1980

Qualification :

Graduate

Date of Appointment :

11.01.2012

PAN No.:

ACSPJ9754E

DIN No. :

00729879

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	U22122WB2003PTC095631	MACHINO MEDIA PRIVATE LIMITED	Director	09/01/2003	09/01/2003	-	Active	NO
2	U80302DL2005PTC137045	MACHINO ANIMATION PRIVATE LIMITED	Director	01/06/2005	01/06/2005	-	Active	NO
3	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Whole-time director	01/11/2012	16/01/2007	-	Active	NO
4	U51909WB1974PTC029686	RAJIV EXPORT INDUSTRIES PVT LTD	Director	01/12/2007	01/12/2007	-	Active	NO
5	U51909WB1985PTC039586	MACHINO MOTORS PRIVATE LIMITED	Director	01/12/2007	01/12/2007	-	Active	NO
6	U51103HR2008PTC038361	GRUPO ANTOLIN CHAKAN Private Limited	Director	19/09/2008	19/09/2008	01/12/2014	Active	NO
7	U28939WB1955PLC022441	MACHINO TECHNO SALES LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
8	U50102DL2009PTC190368	ARGENTUM MACHINO PRIVATE LIMITED	Director	18/05/2009	18/05/2009	-	Strike off	NO
9	U35900HR2010PTC040899	Machino Auto Comp Tooling Private Limited	Director	14/07/2010	14/07/2010	-	Active	NO
10	U27109WB1965PTC026332	MACHINO FINANCE PRIVATE LIMITED	Director	01/02/2012	01/02/2012	-	Active	NO

Name :

Mr. Sanjiv Jindal

Designation :

Director

Address :

A-401, Ambience Island Apartment, NH – 8, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

28.06.1957

Qualification :

Doctorate

Date of Appointment :

01.04.2012

PAN No.:

ACXPJ9992M

DIN No. :

00017902

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	U28939WB1955PLC022441	MACHINO TECHNO SALES LIMITED	Director	24/03/1977	24/03/1977	-	Active	NO
2	U63022WB1979PTC032409	MACHINO TRANSPORT PRIVATE LIMITED	Director	10/12/1979	10/12/1979	-	Active	NO
3	U74899DL1991PLC044850	GRANDMAASTTERS MOLD LIMITED	Director	14/07/1991	14/07/1991	-	Active	NO
4	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	30/09/1996	30/09/1996	-	Active	NO
5	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Managing director	01/04/2014	01/04/2006	-	Active	NO
6	U25209HR2012PLC044825	PRANAA PLASTICS LIMITED	Director	17/01/2012	17/01/2012	-	Active	NO

Name :

Mr. Ratan Lal Gaggar

Designation :

Director

Address :

11, Sarat Bose Road, (Lansdown Road) Kolkata -700020, West Bengal, India

Date of Birth/Age :

01.12.1932

Qualification :

Post Graduate

Date of Appointment :

12.02.1999

DIN No. :

00322904

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	L20211WB1957PLC023493	SARDA PLYWOOD INDUSTRIES LIMITED	Director	28/06/1976	28/06/1976	-	Active	NO
2	L40200DL1968PLC005169	SOMANY CERAMICS LIMITED	Director	09/03/1984	09/03/1984	04/09/2014	Active	NO
3	U99999MH1974PTC017460	TIL LIMITED	Director	14/05/1985	14/05/1985	-	Not Available for eFiling	NO
4	L74999WB1974PLC041725	TIL LIMITED	Director	28/07/2014	14/05/1985	-	Active	NO
5	L36912WB1936PLC008588	INTERNATIONAL COMBUSTION (INDIA) LIMITED	Director	11/01/1989	11/01/1989	-	Active	NO
6	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LIMITED	Director	30/12/1989	30/12/1989	-	Active	NO
7	L74140AS1974PLC001498	FINANCIAL MANAGEMENT SERVICES LIMITED	Director	05/02/1993	05/02/1993	13/07/2009	Active	NO
8	L70101WB1989PLC047465	SUMEDHA FISCAL SERVICES LIMITED	Director	13/09/2014	30/03/1993	-	Active	NO
9	L40106DL1981PLC012228	SPML INFRA LIMITED	Director	26/09/2014	30/06/1994	30/09/2014	Active	NO
10	U67120WB1995PTC071339	PREMIER STOCK BROKERS AND FINANCIAL SERVICES PRIVATE LIMITED.	Director	03/05/1995	03/05/1995	-	Active	NO
11	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	12/02/1999	12/02/1999	-	Active	NO
12	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Director	24/01/2003	24/01/2003	-	Active	NO
13	L17226WB1946PLC013554	EASTERN SILK INDUSTRIES LIMITED	Director	27/01/2005	27/01/2005	01/02/2011	Active	NO
14	U45400WB2007PTC115959	ENERGY PROPERTIES PRIVATE LIMITED	Director	05/11/2008	22/01/2008	-	Active	NO
15	U14290WB2008PTC125627	BHASKAR SILICON PRIVATE LIMITED	Director	30/09/2009	18/08/2008	25/04/2011	Active	NO
16	U85110KA1997PLC021764	SUBHASH KABINI POWER CORPORATION LIMITED	Director	26/09/2012	08/09/2012	-	Active	NO
17	U29150WB1995PTC072501	TRACTORS INDIA PRIVATE LIMITED	Director	26/03/2015	26/03/2015	-	Active	NO
18	AAE-2969	GAGGAR AND CO LLP	Designated Partner	01/07/2015	01/07/2015	-	Active	NO

Name :

Mr. Krishan Kumar

Designation :

Director

Address :

A-74, Summit Apartmnents DLF Phase V Sector – 54, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

01.07.1938

Qualification :

Doctorate

Date of Appointment :

30.06.2009

DIN No. :

00972260

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	U74900DL1996PTC076990	MARUTI SALES AND SERVICE (INDIA) PRIVATE LIMITED	Director	08/03/1996	08/03/1996	-	Strike off	NO
2	U74140DL1976PTC008245	J J IMPEX (DELHI) PRIVATE LIMITED	Nominee director	02/04/1998	02/04/1998	20/09/2007	Active	NO
3	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Nominee director	23/05/2006	23/05/2006	16/10/2007	Active	NO
4	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO

Name :

Ms. Jyoti Asesh Dutta

Designation :

Director

Address :

1/357, Jodhpur Park, Kolkata-700068, West Bengal, India

Date of Birth/Age :

22.12.1966

Qualification :

Graduate

Date of Appointment :

01.09.2009

DIN No. :

02819704

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	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	01/09/2009	01/09/2009	-	Active	NO
2	U29224GJ1987PLC010044	JOHN ENERGY LIMITED	Director	27/09/2012	16/11/2011	-	Active	NO

Name :

Mr. Inala Veerbhadra Rao

Designation :

Director

Address :

C-3, 3004 Vasant Kunj, New Delhi – 110070, India

Date of Birth/Age :

27.08.1952

Date of Appointment :

30.09.2013

DIN No. :

00329370

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	L34300DL1986PLC023540	BHARAT SEATS LIMITED	Nominee director	14/02/2005	14/02/2005	17/07/2015	Active	NO
2	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	30/09/2013	22/11/2012	-	Active	NO

Name :

Ms. Shradha Prakash

Designation :

Director

Address :

H. No-33, Sunder Nagar, Delhi-110003, India

Date of Appointment :

11.08.2015

DIN No. :

07129466

KEY EXECUTIVES

Name :	Mr. Amit Kumar Shrivastava
Designation :	Secretary
Address :	B-35/A, Harsh Vihar, Hari Nagar, Part-3, Jaitpur, Badarpur, New Delhi-110044, India
Date of Appointment :	02.02.2015
PAN No.:	BCEPK9834R
Name :	Mr. Dileep Kumar Mehra
Designation :	Chief Financial Officer
Address :	B-7, Alaknanda Apartment, Rampuri, Surya Nagar, Ghaziabad-201011, Uttar Pradesh, India
Date of Appointment :	28.07.2014
PAN No.:	ADJPM2040G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 15.09.2014

Names of Shareholders	No. of Shares
M D Jindal	12662178
Sanjiivv Jindal	330
Rajiv Jindal	330
Kamala Jindal	300198
Machino Techno Sales Limited, India	715000
Machino Finance Private Limited, India	8565000
Arjun Jindal	1200660
Total	23443696

As on 17.02.2015

Names of Allottees	No. of Shares
Machino Techno Sales Limited, India	642857
Total	642857

Equity Share Break up (Percentage of Total Equity)

As on 15.09.2014

Category	Percentage
Bodies corporate	39.58
Directors or relatives of Directors	60.42
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Importer of Polypropylene Compound and Advance Material

Products :

Item Code No.	Product Description
39021000	Polypropylene

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Products :

Raw Material

Countries :

• Dubai
• Singapore
• Thailand

Terms :

Selling :

Cash, L/C, Credit

Purchasing :

Cash, L/C, Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Reliance Industries Limited, Jamnagar

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 :

Reference :

Maruti Suzuki India Limited, Gurgaon

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 :

159 (Approximately)

Bankers :

Bank Name	Indusind Bank Limited
Branch	Dr. Gopal Das Building, 28, Barakhamba Road, New Delhi - 110001, India
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 Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

· Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23, Barakhamba Road, New Delhi - 110001, India

· Kotak Mahindra Bank Limited, Kotak Aerocity, 1st Floor, Asset Area 9, IBIS Commercial Block, Delhi Aerocity, New Delhi - 110037, India

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai- 400013, Maharashtra, India

· Allahabad Bank, International Branch, New Delhi, Delhi - 110001, India

· State Bank Of India, Industrial Finance Branch, Jawahar Vyapar Bhawan, 
1 Tolstoy Margi, STC Building, 14th Floor, New Delhi - 110001, India

· State Bank of India, Cannaught Place, New Delhi, India

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others	NA	0.855
Short-term borrowings
Loans repayable on demand from banks	NA	714.587
Total	NA	715.442

Auditors :
Name :	KMGS and Associates Chartered Accountants
Address :	Basement 18, National Park Lajpat Nagar-IV New Delhi 110024, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFJ5611N
Memberships :	--
Collaborators :	--
Subsidiary company (As on 31.03.2014):	Machino Auto Comp Limited CIN No.: U51103HR2008PLC038361
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives As on 31.03.2014) :	Machino Plastics Limited CIN No.: L25209HR2003PLC035034 Machino Techno Sales Limited CIN No.: U28939WB1955PLC022441 Machino Finance Private Limited CIN No.: U27109WB1965PTC026332

CAPITAL STRUCTURE

As on 11.08.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000,000	Equity Shares	Rs.10/- each	Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24,086,553	Equity Shares	Rs.10/- each	Rs. 240.866 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000,000	Equity Shares	Rs.10/- each	Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
23,443,696	Equity Shares	Rs.10/- each	Rs. 234.437 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	240.866	234.437	234.437
(b) Reserves & Surplus	1018.779	972.311	964.700
(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)	1259.645	1206.748	1199.137
(3) Non-Current Liabilities
(a) long-term borrowings	5.290	0.855	1.562
(b) Deferred tax liabilities (Net)	12.277	17.176	14.486
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	9.194	3.169	1.429
Total Non-current Liabilities (3)	26.761	21.200	17.477
(4) Current Liabilities
(a) Short term borrowings	557.107	740.930	760.570
(b) Trade payables	637.748	478.203	338.982
(c) Other current liabilities	44.041	36.212	42.550
(d) Short-term provisions	12.404	14.717	18.113
Total Current Liabilities (4)	1251.300	1270.062	1160.215
TOTAL	2537.706	2498.010	2376.829
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	960.819	968.844	991.911
(ii) Intangible Assets	1.796	1.445	2.174
(iii) Capital work-in-progress	23.243	19.412	15.587
(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	160.000	0.000
(d) Long-term Loan and Advances	43.038	33.071	23.590
(e) Other Non-current assets	0.000	0.115	0.000
Total Non-Current Assets	1028.896	1182.887	1033.262
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	497.548	507.468	403.269
(c) Trade receivables	838.144	675.308	816.335
(d) Cash and cash equivalents	126.956	88.610	72.685
(e) Short-term loans and advances	43.165	42.088	49.431
(f) Other current assets	2.997	1.649	1.847
Total Current Assets	1508.810	1315.123	1343.567
TOTAL	2537.706	2498.010	2376.829

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Income	3689.198	2797.169	2879.052
		Other Income	13.917	13.818	26.795
		TOTAL (A)	3703.115	2810.987	2905.847
Less	EXPENSES
		Cost of Materials Consumed	3020.515	2320.824	2472.595
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	3.581	(8.401)	(65.353)
		Employees benefits expense	116.535	91.648	80.988
		Other expenses	375.959	253.446	253.722
		Prior Period expenses	1.280	0.000	0.000
		TOTAL (B)	3517.870	2657.517	2741.952
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		185.245	153.470	163.895
Less	FINANCIAL EXPENSES (D)		119.904	95.769	92.856
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		65.341	57.701	71.039
Less/ Add	DEPRECIATION/ AMORTISATION (F)		34.037	29.945	30.101
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		31.304	27.756	40.938
Less	TAX (H)		4.835	11.971	2.735
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		26.469	15.785	38.203
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		226.975	221.364	204.509
Less	APPROPRIATIONS
		Transfer to General Reserve		2.000	5.000
		Capital redemption reserve		7.033	0.000
		Proposed dividend		1.141	0.000
		Tax on Proposed Dividend		0.000	0.000
		Interim Dividend		0.000	14.066
		Tax on interim dividend		0.000	2.282
	BALANCE CARRIED TO THE B/S		NA	226.975	221.364
	EARNINGS IN FOREIGN CURRENCY			5.711	6.326
	IMPORTS
		Raw Materials		681.586	1092.023
		Stores & Spares		7.321	5.709
		Capital Goods		1.418	0.000
		Travelling		0.665	0.690
		Professional Fees		0.655	0.711
	TOTAL IMPORTS		NA	691.645	1099.133
	Earnings / (Loss) Per Share (Rs.)		1.13	0.67	1.63

Expected Sales (2015-2016) : Rs. 4250.000 Million

The above information has been parted by Mr. Amit Kumar Shrivastav (Company Secretary)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	0.634
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	312.400	(183.604)
Net cash flows from (used in) operating activities	NA	292.321	(202.533)

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.72	0.56	1.33
Operating Profit Margin (PBIDT/Sales)	(%)	5.02	5.49	5.69
Return on Total Assets (PBT/Total Assets}	(%)	1.24	1.20	1.73
Return on Investment (ROI) (PBT/Networth)		0.02	0.02	0.03
Debt Equity Ratio (Total Debt /Networth)		0.45	0.61	0.64
Current Ratio (Current Asset/Current Liability)		1.21	1.04	1.16

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	234.437	234.437	240.866
Reserves & Surplus	964.700	972.311	1018.779
Net worth	1199.137	1206.748	1259.645
long-term borrowings	1.562	0.855	5.290
Short term borrowings	760.570	740.930	557.107
Total borrowings	762.132	741.785	562.397
Debt/Equity ratio	0.636	0.615	0.446

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)
Sales	2879.052	2797.169	3689.198
		(2.844)	31.890

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2879.052	2797.169	3689.198
Profit	38.203	15.785	26.469
	1.33%	0.56%	0.72%

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 three years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	Yes
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	Yes
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

BACKGROUND (As on 31.03.2014)

The company was incorporated in India on 30 September 1996. The Company is engaged in the business of manufacturing of PP Compounds (PCMA).

UNSECURED LOAN

PARTICULARS	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	NA	26.343
Total	NA	26.343

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10597705	26/09/2015	150,000,000.00	KOTAK MAHINDRA BANK LIMITED	Kotak Aerocity, 1st Floor, Asset Area 9, IBIS Commercial Block, Delhi Aerocity, New Delhi, Delhi - 110037, INDIA	C67590307
2	10563533	25/02/2015	150,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA	C50927201
3	10468070	08/06/2015 *	225,000,000.00	INDUSIND BANK LTD.	DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW  DELHI, Delhi - 110001, INDIA	C60673852
4	10393261	17/09/2015 *	200,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	C68547835
5	10155129	25/11/2014 *	350,000,000.00	Allahabad Bank	International Branch, New Delhi, Delhi - 110001, INDIA	C39897103
6	10104209	20/11/2014 *	330,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA  ROAD, NEW DELHI, Delhi - 110001, INDIA	C35468206
7	10043785	20/11/2014 *	575,000,000.00	State Bank of India	Industrial Finance Branch, Jawahar Vyapar Bhawan, 1 Tolstoy Margi, STC Building, 14th Floor, New Delhi, Delhi - 110001, INDIA	C34471581
8	90057205	19/12/2006 *	341,500,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCE, 14TH FLOOR, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, Delhi - 110001, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipments

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.66.29
UK Pound	1	Rs.101.45
Euro	1	Rs.70.55

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--LEVERAGE	1~10	6
--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.