MIRA INFORM REPORT

Report No. :	350996
Report Date :	30.11.2015

IDENTIFICATION DETAILS

Name :	KALPVRAKSH IMPEX PRIVATE LIMITED
Registered Office :	701, Arihant Cooperative Housing Society, Near Terapanth Bhavan, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra
Tel. No.:	91-22-26592999
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.04.2003
Com. Reg. No.:	11-139960
Capital Investment / Paid-up Capital :	Rs.18.317 Million
CIN No.: [Company Identification No.]	U51211MH2003PTC139960
IEC No.:	0303016078
TIN No.:	27030251210V
TAN No.: [Tax Deduction & Collection Account No.]	MUMK12204D
PAN No.: [Permanent Account No.]	AACCK1102G
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and exporter of agro products, raw cotton, rice, seeds, spices and shares.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 530000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2003. It has moderate track. As per the Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financials are not available from any sources. For the financial year ended 2013, the company has registered average operational activity and achieved profitability margin of 1.5%. However, it has shown sizeable decline in sales turnover. The company has modest financial profile, adequate networth position along with favourable gap between trade payables and receivables. Business is active. Payments are slow but correct. In view of unavailability of requisite information, the company can be considered for business dealings with some caution.

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

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. Mahendra Ranka
Designation :	Accounts Department
Contact No.:	91-22-26592999
Date :	25.11.2015

LOCATIONS

Registered Office :	701, Arihant Cooperative Housing Society, Near Terapanth Bhavan, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra, India
Tel. No.:	91-22-26592999
Fax No.:	91-22-26591999
E-Mail :	shyam_rathi@rediffmail.com trafic@navjyotintl.com
	www.navjyotintl.com
Area :	1200 sq. ft.
Location :	Owned
Locality :	Commercial + Residential
Warehouse :	Jasai, Navi Mumbai, Maharashtra, India
Branch Office :	Rajasthan, India

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Surya Bhura Prakash
Designation :	Director
Address :	701, Arihant Co-operative Housing Society Limited, Near Terapanth Bhavan, Thakur Complex , Kandivali (East), Mumbai - 400101, Maharashtra, India
Date of Birth/Age :	12.07.1954
Date of Appointment :	23.12.2011
DIN No.:	05156722
Name :	Mr. Ajay Kumar Mishra
Designation :	Director
Address :	Ashtvinayak Chawl, Room No-470/003, Pawane Village, Navi Mumbai, Navi Mumbai - 400705, Maharashtra, India
Date of Birth/Age :	15.03.1973
Date of Appointment :	20.02.2013
DIN No.:	06505292

KEY EXECUTIVES

Name :	Mr. Mahendra Ranka
Designation :	Accounts Department

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Abhishek Bhura	1000	0.05
Swatia Bhura	1830650	99.95
Total	1831650	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Other top fifty shareholders	100.00

BUSINESS DETAILS

Line of Business :	Trader and exporter of agro products, raw cotton, rice, seeds, spices and shares.
Products :	Agro Products Raw Cotton Rice Seeds Spices
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	China Japan Indonesia Africa
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment, Credit
Purchasing :	Cash, Advance Payment, Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	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 :

Company Name :	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 :

15 (Approximately)

Bankers :

Banker Name :	Kotak Mahindra Bank
Branch :	BKC, Bandra (East), Mumbai, Maharashtra, India
Person Name (With Designation) :	Not Divulged
Contact Number :	91-22-43360481
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Ringing

Facilities :

SECURED LOANS	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
Long Term Borrowings
Rupee term loans from banks	23.147	0.000
Rupee term loans from others	13.676	14.835
Other loans and advances	6.944	0.798
Short Term Borrowings
Other loans and advances	124.559	84.554
Total	168.326	100.187

Auditors :
Name :	Gupta Saharia and Company Chartered Accountants
Address :	C-103 Pranay Nagar, Rammandir Road, Borivali West, Mumbai, Maharashtra, India
PAN No.:	AACFG8803D
Collaborators :	Not Divulged
Membership :	Not Divulged
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1831650	Equity Shares	Rs.10/- each	Rs.18.317 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	18.317	18.317	18.317
(b) Reserves & Surplus	166.146	154.475	140.396
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.045	0.045	0.045
Total Shareholders’ Funds (1) + (2)	184.508	172.837	158.758
(3) Non-Current Liabilities
(a) long-term borrowings	43.767	15.633	18.792
(b) Deferred tax liabilities (Net)	2.198	2.196	2.103
(c) Other long term liabilities	48.281	34.673	10.022
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	94.246	52.502	30.917
(4) Current Liabilities
(a) Short term borrowings	124.559	84.554	21.241
(b) Trade payables	40.659	75.383	138.879
(c) Other current liabilities	54.716	55.909	168.638
(d) Short-term provisions	2.280	2.080	0.000
Total Current Liabilities (4)	222.214	217.926	328.758
TOTAL	500.968	443.265	518.433
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	132.407	93.770	89.751
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	26.075	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	73.500	44.000	7.500
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	95.286	32.586	32.773
(e) Other Non-current assets	0.000	0.006	0.012
Total Non-Current Assets	301.193	196.437	130.036
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	39.499	66.172	135.269
(c) Trade receivables	73.190	88.166	11.315
(d) Cash and cash equivalents	30.387	33.498	181.141
(e) Short-term loans and advances	56.642	58.992	60.672
(f) Other current assets	0.057	0.000	0.000
Total Current Assets	199.775	246.828	388.397
TOTAL	500.968	443.265	518.433

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	756.040	1291.294	2017.600
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES		NA	NA	NA
	PROFIT BEFORE TAX		12.049	16.253	6.280
Less	TAX		0.378	2.173	(0.072)
	PROFIT AFTER TAX		11.671	14.080	6.352
	Earnings Per Share (Rs.)		6.37	7.69	0.31

Particulars	31.03.2015	31.03.2014
Sales Turnover (Approximately)	1130.000	1200.000
	[Due to market fluctuation]

Expected Sales (2015-2016): Rs.1000.000 million

The above information has been parted by Mr. Mahendra

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012	31.03.2011
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	1.54	1.09	0.31
Return on Total Assets (PBT/Total Assets)	(%)	2.82	4.36	1.23
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.04
Debt Equity Ratio (Total Debt /Networth)		0.91	0.58	0.25
Current Ratio (Current Asset/Current Liability)		0.90	1.13	1.18

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	18.317	18.317	18.317
Reserves & Surplus	140.396	154.475	166.146
Share Application money pending allotment	0.045	0.045	0.045
Net worth	158.758	172.837	184.508
long-term borrowings	18.792	15.633	43.767
Short term borrowings	21.241	84.554	124.559
Total borrowings	40.033	100.187	168.326
Debt/Equity ratio	0.252	0.580	0.912

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	2017.600	1291.294	756.040
		(35.999)	(41.451)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	2017.600	1291.294	756.040
Profit	6.352	14.080	11.671
	0.31%	1.09%	1.54%

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	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	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	No
26	Turnover of firm for last five 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	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 CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10373962	07/08/2012	36,800,000.00	Ing Vysya Bank Limited	Mittal Towers, A-Wing, Ground Floor, 210 Nariman Point,, Mumbai, Maharashtra - 400021, India	B57035305
2	80015160	31/03/2015 *	331,000,000.00	Kotak Mahindra Bank Limited	Capu Department, Poonam Heights, Shop No.3 & 4,, Ground Floor, Udyog Nagar, S. V. Road, Goregaon, Mumbai, Maharashtra - 400062, India	C54763396
3	90148501	15/12/2003	40,000,000.00	State Bank of Bikaner & Jaipur	Overseas Branch, 240-242; Nirmal Building; Nariman Point, Mumbai, Maharashtra - 400021, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Buildings

· Furniture and fixtures

· Vehicles

· Office equipment

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.100.68
Euro	1	Rs.70.88

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	TRI
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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.