MIRA INFORM REPORT

Report No. :	348334
Report Date :	28.11.2015

IDENTIFICATION DETAILS

Name :	KLOECKNER PENTAPLAST INDIA PRIVATE LIMITED
Registered Office :	First Floor, Office No.105, Ninex Time Centre, Suncity, Sector 54, Golf Course Road, Gurgaon-122002, Haryana
Tel. No.:	91-124-4585001
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	19.01.2006
Com. Reg. No.:	05-036006
Capital Investment / Paid-up Capital :	Rs. 400.000 Million
CIN No.: [Company Identification No.]	U25209HR2006PTC036006
IEC No.:	0506016528
TAN No.: [Tax Deduction & Collection Account No.]	RTKK02725C
PAN No.: [Permanent Account No.]	AACCK7536Q
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the service provider in films for packaging, printing and specially application and developing a customer base in the India subcontinent for its holding group.
No. of Employees :	4 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 38000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Kloeckner Pentaplast Netherlands BV”. It is an established company having a moderate track record. The company has reported accumulated losses over the years which has errored the reserves of the company. The rating takes consideration on company growing scale of sales turnover and decent profitability margin from its operations as well as financial and managerial support from its holding company. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of strong holding, the company can be considered for business dealing with some cautions.

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

Name :	Mr. Lalit Mahan
Designation :	Director
Contact No.:	91-9958176790
Date :	24.11.2015

LOCATIONS

Registered Office :	First Floor, Office No.105, Ninex Time Centre, Suncity, Sector 54, Golf Course Road, Gurgaon-122002, Haryana, India
Tel. No.:	91-124-4585001
Mobile No.:	91-9958176790 (Mr. Lalit Mahan)
Fax No.:	91-124-4585050
E-Mail :	n.pal@kpfilms.com lallandcompany@gmail.com kpinfo@kpfilms.com i.mohan@kpfilms.com
Website :	http://www.kpfilms.com
Branch Address :	Unit No. 318, 3^rd Floor, Swastik Disa corporate Park, CBS Marg, Ghatkopar (West), Mumbai, Maharashtra, India

DIRECTORS

As on 25.09.2013

Name :

Mr. Gurudeep Singh

Designation :

Director

Address :

M-1, Breach Candy Apartments, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

23.07.1954

Date of Appointment :

04.02.2007

DIN No.:

00036922

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	L28920MH1949PLC006870	BLUE STAR LIMITED	Director	23/05/2003	23/05/2003	-	Active	NO
2	U99999MH1962PLC012316	PERFECT CIRCLE INDIA LIMITED	Director	26/10/2005	26/10/2005	22/10/2009	Active	NO
3	L31500UP1991PLC012944	PHOENIX LAMPS LIMITED	Director	30/07/2007	25/09/2006	-	Active	NO
4	U29299DL1984PTC018517	TECNOVA INDIA PRIVATE LIMITED	Director	04/10/2006	04/10/2006	-	Active	NO
5	U25209HR2006PTC036006	KLOECKNER PENTAPLAST INDIA PRIVATE LIMITED	Director	04/02/2007	04/02/2007	-	Active	NO
6	L29200MH1978PLC020434	EVEREST KANTO CYLINDER LIMITED	Director	28/07/2009	30/07/2008	16/08/2013	Active	NO
7	L34101PN1961PLC015735	GABRIEL INDIA LIMITED	Director	28/07/2009	28/07/2009	18/09/2014	Active	NO
8	U60231DL2005PLC138598	GATEWAY RAIL FREIGHT LIMITED	Director	18/09/2010	23/08/2010	-	Active	NO
9	L28113DL2010PLC210819	ORIENT REFRACTORIES LIMITED	Additional director	12/11/2014	12/11/2014	-	Active	NO

Name :

Mr. Lalit Mohan Dhameja

Designation :

Director

Address :

B2-B/167, Janak Puri, New Delhi – 110058, India

Date of Birth/Age :

16.10.1970

Date of Appointment :

22.04.2009

DIN No.:

02660747

KEY EXECUTIVES

Name :	Mr. Abhishek Bansal
Designation :	Secretary
Address :	1709, Sector 29, Faridabad-121008, Haryana, India
Date of Birth/Age :	30.07.1985
Date of Appointment :	10.07.2009
PAN No.:	ANKPB6756F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2013

Names of Shareholders	No. of Shares
Kloeckner Pentaplast Netherlands BV, Netherlands	39999999
Kloeckner Pentaplast Thailand Limited, Thailand	1
Total	40000000

Equity Share Break up (Percentage of Total Equity)

As on 25.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the service provider in films for packaging, printing and specially application and developing a customer base in the India subcontinent for its holding group.

Products :

PRODUCT DESCRIPTION	ITC NO.
Rigid PVC Films	3920

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C 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 :

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

No. of Employees :

4 (Approximately)

Bankers :

Bank Name	HDFC Bank
Branch	First India Place, Vatika Building, M.G. Road, Gurgaon – 122002, Haryana, India
Person Name (With Designation)	Not Divulged
Contact Number	91-124-1083009 (Not Working)
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

Deutsche Bank, Cybercity, Infiniti Tower, Gurgaon – 122001, Haryana, India

Auditors :
Name :	MZSK and Associates Chartered Accountant
Address :	Office no 1032, 1033 and 1034,10^th Floor, Spaze I Tech Park, Tower A, Sector 49, Gurgaon – 122018, Haryana, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFK3470E
Memberships :	--
Collaborators :	--
Holding company :	Kloeckner Pentaplast, Netherlands BV, Netherlands
Fellow Subsidiary company : (As on 31.03.2014)	Klockner Pentaplast Erste Gmbh, Germany Kloeckner Pentaplast Thailand Limited, Thailand Kloeckner Pentaplast GMbH and Company KG, Netherlands Kloeckner Pentaplast (Suzhou) Speciality Materials Compny Limited, China Klockner Pentaplast of America, Inc., United States

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.400.000 Million

Subscribed & Paid-up Capital : Rs.417.717 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs. 400.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 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	400.000	400.000	400.000
(b) Reserves & Surplus	(386.721)	(397.545)	(398.076)
(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)	13.279	2.455	1.924
(3) Non-Current Liabilities
(a) long-term borrowings	16.878	20.644	17.386
(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	1.194	0.780	0.570
Total Non-current Liabilities (3)	18.072	21.424	17.956
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	1.278	0.119
(c) Other current liabilities	10.014	11.180	9.533
(d) Short-term provisions	0.119	0.013	2.618
Total Current Liabilities (4)	10.133	12.471	12.270
TOTAL	41.484	36.350	32.150
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.399	2.085	0.767
(ii) Intangible Assets	0.012	0.036	0.060
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.247	7.008	6.213
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	6.658	9.129	7.040
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	12.058	11.449	10.308
(d) Cash and cash equivalents	21.771	14.251	13.345
(e) Short-term loans and advances	0.845	1.344	1.312
(f) Other current assets	0.152	0.177	0.145
Total Current Assets	34.826	27.221	25.110
TOTAL	41.484	36.350	32.150

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	27.880	24.284	24.575
	Other Income	8.560	1.568	1.509
	TOTAL	36.440	25.852	26.084
Less	EXPENSES
	Employees benefits expense	10.364	9.044
	Other expenses	13.938	15.521
	TOTAL	24.302	24.565	23.710
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	12.138	1.287	2.374
Less	FINANCIAL EXPENSES	0.392	0.392	0.408
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	11.746	0.895	1.966
Less/ Add	DEPRECIATION/ AMORTISATION	0.841	0.364	0.332
	PROFIT/ (LOSS) BEFORE EXCEPTIONAL ITEMS	10.905	0.531	1.634
Add:	EXCEPTIONAL ITEMS	0.000	0.000	15.799
	PROFIT/ (LOSS) BEFORE TAX	10.905	0.531	17.433
Less	TAX	0.000	0.000	0.000
	(MAT Expenses)	0.000	0.000	(2.949)
	MAT Credit Entitlement	0.000	0.000	2.664
	PROFIT/ (LOSS) AFTER TAX	10.905	0.531	17.147
	Earnings / (Loss) Per Share (Rs.)	27.00	0.01	0.45

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	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	39.11	2.19	69.77
Operating Profit Margin (PBIDT/Sales)	(%)	43.54	5.30	9.73
Return on Total Assets (PBT/Total Assets}	(%)	26.29	1.46	54.22
Return on Investment (ROI) (PBT/Networth)		0.82	0.22	9.06
Debt Equity Ratio (Total Debt /Networth)		1.27	8.41	9.04
Current Ratio (Current Asset/Current Liability)		3.44	2.18	2.05

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	400.000	400.000	400.000
Reserves & Surplus	(398.076)	(397.545)	(386.721)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1.924	2.455	13.279
long-term borrowings	17.386	20.644	16.878
Short term borrowings	0.000	0.000	0.000
Total borrowings	17.386	20.644	16.878
Debt/Equity ratio	9.036	8.409	1.271

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	24.575	24.284	27.880
		(1.184)	14.808

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	24.575	24.284	27.880
Profit	17.147	0.531	10.905
	69.77%	2.19%	39.11%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	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

Note:

The Registered office of the company has been shifted from Vatika Business Centre, First India Place BLK - C Ground Floor, Sushant Loak –I, Mehrauli, Gurgaon road, Gurgaon – 122022, Haryana, India to the present address w.e.f.01.01.2010

UNSECURED LOAN

PARTICULARS	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
LONG TERM BORROWING
Term Loan from Banks	NA	20.644
Total	NA	20.644

INDEX OF CHARGES

CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Furniture and Fixtures
• Office Equipments
• Land and Building
• Plant and Machinery
• Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No 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.66.55
UK Pound	1	Rs.100.67
Euro	1	Rs.70.87

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KSH
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	0
--CREDIT LINES	1~10	3
--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		26

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.