MIRA INFORM REPORT

Report No. :	352179
Report Date :	28.11.2015

IDENTIFICATION DETAILS

Name :	ACME FORMULATION PRIVATE LIMITED
Registered Office :	Village Chowkiwala, Tehsil Nalagarh, Ropar Road, District Solan – 174101, Himachal Pradesh
Tel. No.:	91-1795-220272/ 73
Country :	India
Financials (as on) :	31.03.2015 (Partial Details)
Date of Incorporation :	21.06.2004
Com. Reg. No.:	06-027223
IEC No.:	2205004581
Capital Investment / Paid-up Capital :	Rs.40.975 Million
CIN No.: [Company Identification No.]	U24230HP2004PTC027223
IEC No.:	2205004581
TAN No.: [Tax Deduction & Collection Account No.]	PTLA11750E
PAN No.: [Permanent Account No.]	AAECA7994C
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturing, Exporting and Importing of Cardiovascular Drugs, Analgesic, Anitacids.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 2556000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2004 having satisfactory track. The company possesses an above average financial risk profile marked by healthy networth base and comfortable liquidity position of the company. The rating further takes into consideration decent profit margin of the company. Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct and as per commitment. The company can be considered normal 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan=BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	September, 2015

Rating Agency Name	ICRA
Rating	Non Fund Based Facilities=A2+
Rating Explanation	Strong degree of safety and carry very low credit risk.
Date	September, 2015

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. Vijay Kaundal
Designation :	Finance Department
Contact No.:	91-9817321478

LOCATIONS

Registered Office / Factory 1 :	Village Chowkiwala, Tehsil Nalagarh, Ropar Road, District Solan – 174101, Himachal Pradesh, India
Tel. No.:	91-1795-220272/ 73 / 308001-02
Fax No.:	91-1795-220115/ 308000
E-Mail :	acmeformulation@yahoo.com acmeformulation@gmail.com companysecretary@jcbl.com acme@jcbl.com vijay.kaundal@jcbl.com rishi@jcbl.com
Websites :	www.acmeformulation.com
Area :	6500 sq. mtrs. (Factory : 1 Acres)
Location :	Owned
Locality:	Industrial
Factory 2:	Ropar Road, Near Alpine School, Nalagarh, District Solan - 174101, Himachal Pradesh, India
Tel. No.:	91-1795-308051-55
Fax No.:	91-1795-308050
E-Mail :	acme@jcbl.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Rishi Aggarwal

Designation :

Managing Director

Address :

House No.111, Sector – 9B, Chandigarh – 160009, India

Date of Birth/Age :

17.05.1973

Date of Appointment :

01.07.2010

PAN No.:

AAUPA6263F

DIN No. :

00161719

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	U74899DL1982PTC013536	KEI METALS PRIVATE LIMITED	Additional director	28/03/2015	27/03/2000	-	Active	NO
2	U74999DL2000PTC105201	JAYCEE CHALMERS INDIA PRIVATE LIMITED.	Director	11/04/2000	11/04/2000	-	Under Process of Striking off	NO
3	U50101DL2001PTC111613	GLOBE AUTOMOBILES PRIVATE LIMITED	Managing director	01/02/2012	10/07/2001	18/01/2014	Active	NO
4	U35999DL2002PTC116194	JCBL INFRA EQUIPMENTS PRIVATE LIMITED	Director	15/07/2002	15/07/2002	15/10/2010	Active	NO
5	U00000CH2003PTC026523	JCBL INDIA PRIVATE LIMITED	Director	12/11/2003	12/11/2003	13/01/2014	Active	NO
6	U34201DL1989PLC036743	JCBL LIMITED	Director	01/02/2012	01/11/2004	06/12/2013	Active	NO
7	U74999DL1997PLC130836	MOBILITY SOLUTIONS LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO
8	U24230HP2004PTC027223	ACME FORMULATION PRIVATE LIMITED	Managing director	01/07/2010	25/07/2005	-	Active	NO
9	U70101CH1997PTC020413	SPR ESTATES AND BUILDERS PRIVATE LIMITED	Director	29/09/2006	28/01/2006	19/07/2012	Active	NO
10	U26100HP2005PLC028909	AVEDA ECO GREEN LIMITED	Director	10/04/2006	10/04/2006	01/08/2014	Under Process of Striking off	NO
11	U51909CH2004PTC027206	SPECTATORS GLOBAL PRIVATE LIMITED	Director	15/04/2006	15/04/2006	24/09/2010	Active	NO
12	U34300CH2007PTC030773	JCBL MARREL TIPPERS PRIVATE LIMITED	Director	16/04/2007	16/04/2007	01/11/2013	Active	NO
13	U74999CH2007PTC030868	MSL HOLDINGS PRIVATE LIMITED	Director	10/07/2007	10/07/2007	23/09/2011	Active	NO
14	U29199CH2005PTC028649	GLOBE CE PRIVATE LIMITED	Additional director	08/11/2012	05/05/2008	12/02/2013	Active	NO
15	U74900AP2008PTC062339	MITHRA COACHES PRIVATE LIMITED	Director	24/12/2008	24/12/2008	22/10/2012	Active	NO
16	U15200CH2005PTC028560	NOBLE FORMULATIONS PRIVATE LIMITED	Director	28/09/2009	01/05/2009	15/10/2010	Active	NO
17	U74140HP2009PTC031248	ACE TESTING SOLUTIONS PRIVATE LIMITED	Director	24/09/2013	10/02/2010	-	Active	NO
18	U50200DL2006PTC156922	STERLING MOBIKES PRIVATE LIMITED	Director	30/09/2010	08/04/2010	13/02/2014	Active	NO
19	U72900CH2009PTC031747	GRAFICA DESIGN SOLUTIONS PRIVATE LIMITED	Director	30/09/2010	01/07/2010	20/07/2012	Active	NO
20	U25200CH2009PTC031864	MSL STRATIFORME-COMPREFORME INDUSTRIES PRIVATE LIMITED	Director	30/09/2010	11/08/2010	-	Active	NO
21	U74900HP2010PTC031676	IMMACULE LIFESCIENCES PRIVATE LIMITED	Director	15/07/2011	15/07/2011	-	Active	NO
22	U50300CH2012PTC033764	Globe CV Private Limited	Director	01/05/2012	01/05/2012	-	Active	NO
23	U80903DL2014NPL268128	THE DESIGN VILLAGE FOUNDATION	Director	20/06/2014	20/06/2014	-	Active	NO
24	AAA-3578	ACE FORMULATIONS LLP	Designated Partner	28/01/2011	28/01/2011	-	Active	NO

Name :

Mr. Viral Shah

Designation :

Managing Director

Address :

House No. 102/103, Shikhavali Flat B/H Mahavir Tower, Paldi, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

02.12.1979

Date of Appointment :

01.01.2011

PAN No.:

AQAPS4338M

DIN No. :

01079170

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	U24230HP2004PTC027223	ACME FORMULATION PRIVATE LIMITED	Managing director	01/01/2011	24/01/2007	-	Active	NO
2	U15200CH2005PTC028560	NOBLE FORMULATIONS PRIVATE LIMITED	Director	28/09/2009	01/05/2009	-	Active	NO
3	U74140GJ2009PTC057011	TEKNO TOUCH PRIVATE LIMITED	Director	21/05/2009	21/05/2009	-	Active	NO
4	U24239GJ2009PTC057025	ACE LIFESCIENCE PRIVATE LIMITED	Director	21/05/2009	21/05/2009	-	Active	NO
5	U74140HP2009PTC031248	ACE TESTING SOLUTIONS PRIVATE LIMITED	Director	10/02/2010	10/02/2010	-	Active	NO
6	U74900HP2010PTC031676	IMMACULE LIFESCIENCES PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
7	U50300CH2012PTC033764	Globe CV Private Limited	Director	01/05/2012	01/05/2012	22/11/2014	Active	NO
8	U29199CH2005PTC028649	GLOBE CE PRIVATE LIMITED	Director	25/09/2013	08/11/2012	22/11/2014	Active	NO
9	U74900CH2013PTC034318	ACE INVEST PRIVATE LIMITED	Director	28/01/2013	28/01/2013	09/03/2015	Active	NO
10	U74999CH2007PTC030868	MSL HOLDINGS PRIVATE LIMITED	Director	26/09/2013	09/02/2013	22/11/2014	Active	NO
11	AAC-8635	AMBRIEL LIFE SCIENCES LLP	Designated Partner	30/10/2014	30/10/2014	-	Active	NO
12	AAD-5392	ACME GENERICS LLP	Designated Partner	13/03/2015	13/03/2015	-	Active	NO

Name :

Mr. Ram Gopal Arora

Designation :

Director

Address :

House No. 4, Chandigarh Young Dwellers Society, Sector 49 A, Chandigarh – 160047, India

Date of Birth/Age :

29.12.1955

Date of Appointment :

12.08.2006

DIN No. :

00714585

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	U24230HP2004PTC027223	ACME FORMULATION PRIVATE LIMITED	Director	12/08/2006	17/05/2006	-	Active	NO
2	U29199CH2005PTC028649	GLOBE CE PRIVATE LIMITED	Director	29/09/2008	05/06/2008	-	Active	NO
3	U34300KA2006PTC039731	GHE AUTOMOTIVE INDIA PRIVATE LIMITED	Director	30/09/2008	07/07/2008	20/07/2015	Active	NO
4	U15200CH2005PTC028560	NOBLE FORMULATIONS PRIVATE LIMITED	Director	28/09/2009	01/05/2009	-	Active	NO
5	U72900CH2009PTC031747	GRAFICA DESIGN SOLUTIONS PRIVATE LIMITED	Director	09/09/2009	09/09/2009	01/08/2011	Active	NO
6	U74999CH2007PTC030868	MSL HOLDINGS PRIVATE LIMITED	Director	12/06/2010	19/03/2010	-	Active	NO
7	U34300CH2007PTC030773	JCBL MARREL TIPPERS PRIVATE LIMITED	Director	30/09/2010	26/03/2010	15/05/2014	Active	NO
8	U74899DL1982PTC013536	KEI METALS PRIVATE LIMITED	Director	26/08/2011	24/09/2010	-	Active	NO
9	U00000CH2003PTC026523	JCBL INDIA PRIVATE LIMITED	Director	29/09/2011	15/10/2010	-	Active	NO
10	U50101DL2001PTC111613	GLOBE AUTOMOBILES PRIVATE LIMITED	Director	25/09/2012	25/04/2012	-	Active	NO
11	U50300CH2012PTC033764	Globe CV Private Limited	Director	01/05/2012	01/05/2012	-	Active	NO
12	U74140HP2009PTC031248	ACE TESTING SOLUTIONS PRIVATE LIMITED	Director	24/09/2013	13/10/2012	-	Active	NO
13	U27310DL1973PTC006752	ROCK STEEL PRIVATE LIMITED	Director	30/09/2013	05/06/2013	26/03/2015	Active	NO
14	U34102HR2014PTC052925	JCBL-ARMORED VEHICLES PRIVATE LIMITED	Director	31/07/2014	31/07/2014	-	Active	NO
15	AAD-5392	ACME GENERICS LLP	Body corporate as Designated Partner	13/03/2015	13/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vijay Kaundal
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Sarita Aggarwal	693671	16.93
JCBL India Private Limited, India	2051659	50.07
Viral Shah	1352175	33.00
Total	4097505	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	50.07
Directors or relatives of Directors	49.93
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Exporting and Importing of Cardiovascular Drugs, Analgesic, Anitacids.
Products :	Cardiovascular Drugs Analgesic Antacids
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Pharmaceutical Products
Countries :	United Kingdom Taiwan Germany
Imports :
Products :	Raw Material
Countries :	China Germany
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and 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 :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers and Retailers

Reference :	Wockhard Limited
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

· Zydus Cadila

· Merck

· Glenmark

• Novartis

No. of Employees :

300 (Approximately)

Bankers :

Bank Name	State Bank of Patiala
Branch	Sector 17-C, Chandigarh, 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)	Cash and Credit Rs.150.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• State Bank of Patiala, SMECCC, Sector-8C, Chandigarh, India
• State Bank of India, SME Baddi Branch (05397), Sai Road Baddi, Baddi, District. Solan, Baddi, Himachal Pradesh - 173205, India
• Small Industries Development Bank of India, SCO 145-146, First and Second Floors, Sector 17 C,  Chandigarh - 160017, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee Term Loans from Banks	260.119	0.000
Total	260.119	0.000

Auditors :
Name :	Kansal Singla and Company Chartered Accountants
Address :	SCO 80-81, 4^th Floor, Sector 17-C, Chandigarh – 160017, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFK9144R
Memberships :	--
Collaborators :	--
Holding Company:	JCBL India Private Limited
Companies /Firms in which Directors are interested as Directors/ Promoters/Partners:	JCBL Limited JCBL Marrel Tippers Private Limited Sterling Mobikes Private Limited Globe Automobiles Private Limited Medico Healthcare MSL Holdings Private Limited ACE Testing Solutions Private Limited ACE Invest Private Limited Globe CE Private Limited Noble Formulations PrivateLimited Ace Formulation ACME Formulations

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4097505	Equity Shares	Rs.10/- each	Rs.40.975 Million

FINANCIAL DATA

[all figures are in Rupees Million]

VALUE ADDITION AND DISTRIBUTION OF EARNINGS

PARTICULARS	31.03.2015
Gross revenue from operations of company	2857.749
Excise and other duties of company	0.000
Net revenue from operations of company for value addition	2857.749
Export incentives of company	0.000
Adjustments in work-in-progress and finished stocks of company	(55.961)
Cost of materials consumed of company	2127.509
Cost of process materials or chemicals of company	0.000
Cost of stores and spares consumed of company	13.050
Cost of utilities of company	41.366
Cost of other bought out inputs of company	108.523
Total cost of bought out inputs of company	2290.448
Value added of company	511.340
Other incomes of company	14.417
Extraordinary income	0.000
Earnings available for distribution	525.758
To employees as salaries, wages, retirement benefits and others	102.739
To shareholders as dividend	0.000
Funds retained by company	301.367
To government as taxes	85.480
Extraordinary expenses	0.001
Other distribution of earnings	36.170
Total distribution of earnings	525.758

FINANCIAL POSITION

PARTICULARS	31.03.2015
Share capital	40.975
Reserves and surplus	853.482
Long-term borrowings	0.000
Gross fixed assets	529.170
Net fixed assets	357.150
Current assets	786.121
Current liabilities	580.390
Net current assets	205.731
Capital employed	714.231
Net worth	894.457
Value added of company	511.340
Net revenue from operations of company	2857.749
Profit before tax	319.756

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	40.975	40.975	40.975
(b) Reserves & Surplus	853.482	598.536	332.480
(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)	894.457	639.511	373.455
(3) Non-Current Liabilities
(a) long-term borrowings	260.119	0.000	8.295
(b) Deferred tax liabilities (Net)	0.000	0.000	13.773
(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)	260.119	0.000	22.068
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	65.006
(b) Trade payables	425.421	226.238	191.637
(c) Other current liabilities	82.147	32.384	51.840
(d) Short-term provisions	72.821	59.252	22.085
Total Current Liabilities (4)	580.389	317.874	330.568
TOTAL	1734.965	957.385	726.091
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	549.946	164.354	176.944
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	15.160	43.532	29.851
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	271.775	224.906	13.004
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	80.680	69.768	77.595
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	917.561	502.560	297.394
(2) Current assets
(a) Current investments	4.847	6.640	46.800
(b) Inventories	318.168	178.004	142.321
(c) Trade receivables	285.199	170.238	116.456
(d) Cash and cash equivalents	141.471	69.755	81.836
(e) Short-term loans and advances	67.719	30.188	41.284
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	817.404	454.825	428.697
TOTAL	1734.965	957.385	726.091

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2016.736	1495.181	1226.800
	Other Income	14.041	7.691	NA
	TOTAL (A)	2030.777	1502.872	NA
Less	EXPENSES
	TOTAL (B)	1609.836	1199.456	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	420.941	303.416	137.100
Less	FINANCIAL EXPENSES (D)	27.347	1.839	7.700
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	393.594	301.577	129.400
Less/ Add	DEPRECIATION/ AMORTISATION (F)	53.581	25.083	26.700
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	340.013	276.494	102.700
Less	TAX (H)	85.067	66.425	22.900
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	254.946	210.069	79.800
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	355.573	167.379	109.485
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	10.000	10.000
	Equity Dividend – Interim	0.000	10.244	10.244
	Tax on Dividend	0.000	1.662	1.662
	Balance Carried to the B/S (J+K+L-M)	355.573	355.573	167.379
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	72.362	90.072	40.839
	TOTAL EARNINGS	72.362	90.072	40.839
	IMPORTS
	Raw Materials	23.868	0.000	0.000
	Components and Stores parts	2.252	0.000	0.000
	Travelling	0.132	0.000	0.000
	TOTAL IMPORTS	26.252	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)	62.22	51.27	19.48

Expected Sales (2015-2016) : Rs.3000.000 Million

The above information has been parted by Mr. Vijay Kaundal (Finance Department)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	20.641	0.000	8.295
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	379.624	302.763	165.782
Net cash flow from operating activity	289.224	236.674	129.509

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	12.64	14.05	6.50
Operating Profit Margin (PBIDT/Sales)	(%)	20.87	20.29	11.18
Return on Total Assets (PBT/Total Assets}	(%)	23.48	40.13	17.65
Return on Investment (ROI) (PBT/Networth)		0.38	0.43	0.23
Debt Equity Ratio (Total Debt /Networth)		0.31	0.00	0.06
Current Ratio (Current Asset/Current Liability)		1.41	1.43	1.25

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	40.975	40.975	40.975
Reserves & Surplus	400.373	598.536	853.482
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	441.348	639.511	894.457
long-term borrowings	0.000	0.000	260.119
Short term borrowings	16.285	0.000	0.000
Current Maturities of Long-Term Debts	8.295	0.000	20.641
Total borrowings	24.580	0.000	280.760
Debt/Equity ratio	0.056	0.000	0.314

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	1226.800	1495.181	2016.736
		21.877	34.882

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	1226.800	1495.181	2016.736
Profit	79.800	210.069	254.946
	6.50%	14.05%	12.64%

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	Yes
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	No
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

REVIEW OF OPERATION

During the year, the Company has made turnover of Rs.2016.736 Million as against Rs.1495.181 Million during the previous year. The net profit for the year has been Rs.254.946 Million as against Rs.210.069 Million during the previous year. The Directors are continuously looking for avenues for future growth of the Company.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10565258	31/03/2015	850,000,000.00	State Bank of India	SME Baddi Branch (05397), Sai Road Baddi, Baddi,  District. Solan, Baddi, Himachal Pradesh - 173205, INDIA	C51582823
2	10504240	13/03/2014	70,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	SCO 145-146, First and Second Floors,, Sector 17 C, , Chandigarh, Chandigarh - 160017, INDIA	C03110343
3	10466913	06/12/2013	150,000,000.00	STATE BANK OF PATIALA	SMECCC,SECTOR-8C, Chandigarh - 160008,  INDIA	B92265370
4	10431706	20/05/2013	240,000,000.00	ADITYA BIRLA FINANCE LIMITED	INDIAN RAYON COMPOUND, VERAVAL, Gujarat - 362266,  INDIA	B77358547
5	10053933	04/06/2007	3,000,000.00	GENERAL MANAGER DISTRICT INDUSTRIES CENTRE	DISTRICT INDUSTRIES CENTRE, SOLAN, Himachal Pradesh - 173213, INDIA	A16168908

FIXED ASSETS

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Other 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 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.66.75
UK Pound	1	Rs.100.67
Euro	1	Rs.70.87

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	DIV
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.