MIRA INFORM REPORT

Report No. :	342945
Report Date :	02.10.2015

IDENTIFICATION DETAILS

Name :	SPERRY PLAST LIMITED
Registered Office :	BM House, H – 88 A, Kirti Nagar, New Delhi – 110015
Tel. No.:	91-11-25442310
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.04.1992
Com. Reg. No.:	55-048504
Capital Investment / Paid-up Capital :	Rs. 88.673 Million
CIN No.: [Company Identification No.]	U25209DL1992PLC048504
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELS09441F
PAN No.: [Permanent Account No.]	AAACS2623L
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in manufacturing and sales of Plastic Granuals (Compounding), Molding Goods (Pipe, Fitting, EPS and others), Trading of injection molding machine and allied services like their installation and repairs.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 536000
Status :	Moderate
Payment Behavior :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1992. It is into manufacturing of plastic granuals, molding goods, trading of injection molding machine and allied services. For the financial year 2014, the company reported decline in its sales turnover and has incurred huge loss. It has also recorded decline in its networth base marked by huge borrowings. However trade relations are fair. Business is active. Payments are recorded to be slow but correct. 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

Name :	Mr. Gaurav Jeswani
Designation :	Secretary and Finance Controller
Contact No.:	91-11-25442310
Date :	29.09.2015

LOCATIONS

Registered Office :	BM House, H – 88 A, Kirti Nagar, New Delhi – 110015, India
Tel. No.:	91-11-25442310/2544814
Fax No.:	91-11-41424375
E-Mail :	info@sperryplaslimited.com imm@speeryplastlimited.com
Website :	http://www.sperryplastlimited.com
Location :	Owned
Locality :	Industrial
Factory 1 :	1121, M. I. E. Bahadurgarh – 124507, Haryana, Uttar Pradesh, India
Tel. No.:	91-1276-367154 / 367552 / 367553 / 368040 / 368552
Factory 2 :	Unit II, Plot No. 16, Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India
Factory 3 :	Lane No. 5, EPIP, Bari Brahmana, Jammu Kashmir, India
Branch Depots :	Located At: Pune Delhi

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Vikram Jain

Designation :

Managing Director

Address :

A – 41 and 42, Kirti Nagar, New Delhi – 110015, India

Date of Birth/Age :

03.10.1969

Qualification :

Graduate

Date of Appointment :

01.10.2006

PAN No.:

AAAPJ3846R

DIN No.:

00110704

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	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Managing director	01/10/2006	28/04/1992	-	Active	NO
2	U45201DL2004PTC131298	SPERRY INTERNATIONAL PRIVATE LIMITED	Director	16/12/2004	16/12/2004	-	Active	NO
3	U45200DL2008PTC179845	Big Oak Developers Private Limited	Director	20/06/2008	20/06/2008	30/08/2014	Active	NO
4	U74899DL1982PTC013091	UTTAR BHARAT NEEL MANUFACTURING CO PVT LTD	Additional director	05/10/2009	05/10/2009	-	Active	NO
5	U74140DL2010PTC203183	AMAZON CORPORATE SERVICES PRIVATE LIMITED	Director	26/05/2010	26/05/2010	20/11/2012	Active	NO
6	U74950DL1999PTC101225	VINEET THERMOPACK PRIVATE LIMITED	Director	21/06/2010	21/06/2010	-	Active	NO
7	U29300DL2011PTC215780	SPERRY HOME APPLIANCES PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
8	U74996DL2006PTC149782	Sperry Techno Solutions Private Limited	Director	30/09/2011	01/06/2011	-	Active	NO
9	U25200DL2013PTC250645	S. V. Technocrats Private Limited	Director	11/04/2013	11/04/2013	06/05/2013	Active	NO
10	U70109DL2013PTC259635	Sperry Infrastructure and Developers Private Limited	Director	28/10/2013	28/10/2013	-	Active	NO
11	U70101DL2013PTC259804	Sperry Estate Developers Private Limited	Director	01/11/2013	01/11/2013	-	Active	NO

Name :

Mr. Nawal Mal Jain

Designation :

Director

Address :

A – 41 and 42, Kirti Nagar, New Delhi – 110015, India

Date of Birth/Age :

07.11.1941

Qualification :

Graduate

Date of Appointment :

28.04.1992

DIN No.:

00235990

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	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	28/04/1992	28/04/1992	-	Active	NO
2	U45201DL2004PTC131298	SPERRY INTERNATIONAL PRIVATE LIMITED	Director	16/12/2004	16/12/2004	-	Active	NO
3	U74996DL2006PTC149782	Sperry Techno Solutions Private Limited	Director	16/06/2006	16/06/2006	-	Active	NO
4	U70109DL2006PTC150026	SPERRY REAL ESTATES PRIVATE LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
5	U74899DL1982PTC013091	UTTAR BHARAT NEEL MANUFACTURING CO Private Limited	Additional director	05/10/2009	05/10/2009	-	Active	NO
6	U24139DL2013PTC258421	Sperry Business Ventures Private Limited	Director	25/09/2013	25/09/2013	-	Active	NO
7	U74140DL2013PTC259468	Sperry Foundation Private Limited	Director	23/10/2013	23/10/2013	-	Active	NO
8	U70109DL2013PTC259635	Sperry Infrastructure and Developers Private Limited	Director	28/10/2013	28/10/2013	-	Active	NO
9	U70101DL2013PTC259804	Sperry Estate Developers Private Limited	Director	01/11/2013	01/11/2013	-	Active	NO

Name :

Shitul Dhirajlal Patel

Designation :

Director

Address :

303, Pushpak, 10th Road, JVPD Scheme, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

11.11.1964

Qualification :

BE/ MBA

Date of Appointment :

29.09.2007

DIN No.:

00506534

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	U45201GJ1980PTC003715	ADVANCE CONSTRUCTION COMPANY PRIVATE LIMITED	Whole-time director	21/01/1989	21/01/1989	-	Active	NO
2	U29290MH1992PTC067306	ADVANCE EQUIPMENT FINANCE Private Limited	Director	19/06/1992	19/06/1992	-	Active	NO
3	U26954MH1992PLC068841	ADVANCE PRECAST PRODUCTS LIMITED	Director	30/09/1992	30/09/1992	-	Active	NO
4	U45202MH1993PTC070885	ADVANCE HOUSING DEVELOPMENT Private Limited	Director	22/02/1993	22/02/1993	-	Active	NO
5	U45201DL2005PTC136501	AMRAPALI GREEN BUILDCON PRIVATE LIMITED	Director	20/05/2005	20/05/2005	01/04/2008	Active	NO
6	U70101DL2005PTC141852	ERA ADVANCE DEVELOPERS PRIVATE LIMITED	Director	18/10/2005	18/10/2005	-	Active	NO
7	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	29/09/2007	01/05/2007	-	Active	NO
8	U45200MH2007PTC172404	AABHA LAND PROJECTS PRIVATE LIMITED	Director	01/01/2008	01/01/2008	-	Active	NO
9	U70101DL2009PTC193609	PAN REALTORS PRIVATE LIMITED	Managing director	05/04/2013	26/08/2009	-	Active	NO
10	U45400DL2011PTC228032	EUPHORIA SPORTS CITY PRIVATE LIMITED	Director	28/11/2011	28/11/2011	-	Active	NO
11	U45200DL2013PTC255911	SEIKOM INFRACOM PRIVATE LIMITED	Director	02/08/2013	02/08/2013	22/07/2015	Active	NO
12	U70200DL2013PTC254824	SAI NAMO NAMAH CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
13	U70109DL2013PTC254993	DEVSAI CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
14	U45200DL2013PTC255875	MISTIQUE CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
15	U45400DL2013PTC255871	MICRA INFRATECH PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
16	U45204DL2013PTC256535	CLOVER PROBUILD PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
17	U45200DL2013PTC256534	IRISH INFRASTRUCTURE PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
18	U45201DL2013PTC256877	PINE PROBUILD PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
19	U45208DL2013PTC256890	FLORAL REALCON PRIVATE LIMITED	Director	23/08/2013	23/08/2013	16/03/2015	Active	NO
20	U45300DL2013PTC256843	PALM DEVELOPERS PRIVATE LIMITED	Director	23/08/2013	23/08/2013	01/11/2014	Active	NO
21	U45400DL2013PTC256891	GODAVARI DWELLING PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
22	U45400DL2013PTC256967	MAPLE REALCON PRIVATE LIMITED	Director	27/08/2013	27/08/2013	-	Active	NO

Name :

Mr. Hemanshu Shah

Designation :

Director

Address :

R N 36, 4^th Floor, New Mumbadevi, CHS 48, Khadilkar Road, Girgaum, Mumbai – 400004, Maharashtra, India

Date of Birth/Age :

16.02.1973

Qualification :

Graduate

Date of Appointment :

30.09.2008

DIN No.:

02092440

Name :

Mr. Arjun Singh

Designation :

Director

Address :

H No-14 Laxmi Nagar, Bagat Singh Colony, New Mohanpura Delhi Highway, Roorkee Haridwar, Roorkee – 247667, Uttar Pradesh, India

Date of Birth/Age :

17.09.1973

Date of Appointment :

30.09.2013

DIN No.:

06450016

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	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	30/09/2013	17/11/2012	-	Active	NO
2	U29300DL2011PTC215780	SPERRY HOME APPLIANCES PRIVATE LIMITED	Additional director	17/06/2015	04/11/2014	-	Active	NO

Name :

Mr. Chandra Mohan Gandhi

Designation :

Director

Address :

H. No. 1, Road No. 19, East Punjabi Bagh, New Delhi – 110015, India

Date of Birth/Age :

24.12.1946

Date of Appointment :

30.09.2014

DIN No.:

00386997

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	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	30/09/2014	29/08/1994	-	Active	NO
2	U45201DL2004PTC131298	SPERRY INTERNATIONAL PRIVATE LIMITED	Director	16/12/2004	16/12/2004	12/01/2008	Active	NO
3	U74899DL1995PTC073719	MOONLITE TECHNOCHEM PRIVATE LIMITED	Whole-time director	27/09/2011	16/08/2011	21/09/2012	Active	NO
4	U74950DL1999PTC101225	VINEET THERMOPACK PRIVATE LIMITED	Additional director	21/12/2012	21/12/2012	-	Active	NO

Name :

Mr. Daljit Singh Bhatia

Designation :

Director

Address :

E-32D, Block-E, Rajouri Garden, New Delhi – 110027, India

Date of Birth/Age :

02.01.1953

Date of Appointment :

30.09.2014

DIN No.:

01079613

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	U51109DL1997PTC085387	TRAVEL TODAY INDIA PRIVATE LIMITED	Director	15/01/2002	15/01/2002	-	Active	NO
2	U72200DL2005PTC134023	GAGAN SOFTWARE PRIVATE LIMITED	Director	13/08/2007	13/08/2007	-	Active	NO
3	U70100DL2010PTC210597	PAN ASIA DEVELOPERS PRIVATE LIMITED	Director	20/11/2010	20/11/2010	-	Active	NO
4	U25209DL1992PLC048504	SPERRY PLAST LIMITED	Director	30/09/2014	06/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gaurav Jeswani
Designation :	Secretary
Address :	125B, J Extension, Laxmi Nagar, New Delhi - 110092, India
Date of Birth/Age :	20/01/2014
PAN No.:	AGTPJ3590P

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Vikram Jain	6124130
Nayana Jain	1421900
Nawal Mal Jain	551447
Damyanti Jain	821820
Sperry Builders and Developers Private Limited, India	409800
Uttar Bharat Neel Manufacturing Company Private Limited, India	384732
Deepak Sharma	6896
Chander Mohan Gandhi	10
Sharda Gandhi	10
Seema Jain	10
Chaya Jain	10
Pan Asia Developers Private Limited, India	281620
Total	10002385

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	10.76
Directors or relatives of Directors	89.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing and sales of Plastic Granuals (Compounding), Molding Goods (Pipe, Fitting, EPS and others), Trading of injection molding machine and allied services like their installation and repairs.

Products :

Item Code No.	Product Description
84771000	Machinery Division
84509090	Moulding Division
39042190	Compounding Division

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• United Arab Emirates
• Poland

Imports :

Products :

Raw Material

Countries :

• Korea
• Antwerp
• China

Terms :

Selling :

Cash and Credit ( 30 Days / 60 Days / 90 Days)

Purchasing :

Cash and Credit ( 30 Days / 60 Days / 90 Days)

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 :

End Users and OEMs

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 :

500 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Industrial Complex Branch, Bahadurgarh - 124507, Haryana, India
Person Name (With Designation)	Not Divulged
Contact Number	91-1276-239664
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/Credit: Rs.197.500 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	0.957	102.329
Foreign currency term loans from banks	184.095	182.711
Term loans from others	7.514	8.577
Short-term borrowings
Working capital loans from banks	744.043	722.517
Total	936.609	1016.134

Auditors :
Name :	GSK and Associates Chartered Accountants
Address :	8, 1St Floor, RaniJhansi Road, Motia Khan Industrial Area, New Delhi - 110055, India
PAN. No.:	AADFG5824B
Memberships :	-----
Collaborators :	-----
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	VIkram Jain (HUF) Amazon Corporate Services Private Limited (U74140DL2010PTC203183) Uttar Bharat Neel Manufacturing Company Private Limited (U74899DL1982PTC013091)
Subsidiary Company :	Sperry International Private Limited (U45201DL2004PTC131298) Vineet Thermopack Private Limited (U74950DL1999PTC101225)

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital : Rs. 150.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 140.523 Million

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs. 120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10002385	Equity Shares	Rs.10/- each	Rs. 100.024 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs. 120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8867278	Equity Shares	Rs.10/- each	Rs. 88.673 Million

FINANCIAL DATA

[All figures are in Rupees Million]

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	88.673	85.856	78.960
(b) Reserves & Surplus	90.369	418.733	381.602
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	8.600	40.102	36.543
Total Shareholders’ Funds (1) + (2)	187.642	544.691	497.105
(3) Non-Current Liabilities
(a) long-term borrowings	627.204	571.625	564.804
(b) Deferred tax liabilities (Net)	0.000	89.025	74.361
(c) Other long term liabilities	2.161	1.980	1.696
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	629.365	662.630	640.861
(4) Current Liabilities
(a) Short term borrowings	744.043	722.517	596.263
(b) Trade payables	482.311	450.292	302.241
(c) Other current liabilities	179.496	174.983	208.996
(d) Short-term provisions	0.215	4.950	2.220
Total Current Liabilities (4)	1406.065	1352.742	1109.720
TOTAL	2223.072	2560.063	2247.686
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1088.693	1079.859	966.872
(ii) Intangible Assets	0.000	0.000	0.000
(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	57.329	38.832	32.940
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.254	10.697	11.667
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1156.276	1129.388	1011.479
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	408.783	571.786	539.491
(c) Trade receivables	488.554	518.689	419.276
(d) Cash and cash equivalents	48.269	52.396	37.580
(e) Short-term loans and advances	114.650	281.286	233.341
(f) Other current assets	6.540	6.518	6.519
Total Current Assets	1066.796	1430.675	1236.207
TOTAL	2223.072	2560.063	2247.686

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from operations	2216.198	2503.396	2177.655
	Other Income	14.158	12.151	20.917
	TOTAL	2230.356	2515.547	2198.572
		(Due to Market Fluctuation)
Less	EXPENSES
	Cost of Materials Consumed	1755.525	1974.922	1789.537
	Purchases of Stock-in-Trade	16.875	41.916	82.152
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	218.978	(2.996)	(174.407)
	Employees benefits expense	51.431	53.865	50.823
	Other expenses	311.457	256.780	234.299
	TOTAL	2354.266	2324.487	1982.404
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(123.910)	191.060	216.168
Less	FINANCIAL EXPENSES	249.065	124.362	129.708
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(372.975)	66.698	86.460
Less/ Add	DEPRECIATION/ AMORTISATION	57.505	41.086	42.072
	PROFIT/ (LOSS) BEFORE TAX	(430.480)	25.612	44.388
Less	TAX	(89.025)	14.684	15.619
	PROFIT/ (LOSS) AFTER TAX	(341.455)	10.928	28.769
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	131.527	89.335	122.097
	TOTAL EARNINGS	131.527	89.335	122.097
	IMPORTS
	Raw Materials	507.278	700.451	549.552
	Capital Goods	20.690	8.504	5.891
	TOTAL IMPORTS	527.968	708.955	555.443
	Earnings / (Loss) Per Share (Rs.)	(38.81)	1.38	3.64

Particulars	31.03.2015
Sales Turnover (Approximately)	2500.000

The above information has been parted by Mr. Gaurav Jeshwani

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	70.343	63.023	68.169
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	259.465	114.547	51.527

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Revenue from operations)	(%)	(15.41)	0.44	1.32
Operating Profit Margin (PBIDT/ Revenue from operations)	(%)	(5.59)	7.63	9.93
Return on Total Assets (PBT/Total Assets}	(%)	(19.88)	1.02	2.00
Return on Investment (ROI) (PBT/Networth)		(2.29)	0.05	0.09
Debt Equity Ratio (Total Debt /Networth)		7.68	2.49	2.47
Current Ratio (Current Asset/Current Liability)		0.76	1.06	1.11

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	78.960	85.856	88.673
Reserves & Surplus	381.602	418.733	90.369
Share Application money pending allotment	36.543	40.102	8.600
Net worth	497.105	544.691	187.642
long-term borrowings	564.804	571.625	627.204
Short term borrowings	596.263	722.517	744.043
Current maturities of long-term debts	68.169	63.023	70.343
Total borrowings	1229.236	1357.165	1441.590
Debt/Equity ratio	2.473	2.492	7.683

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)
Revenue from operations	2177.655	2503.396	2216.198
		14.958	(11.472)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	2177.655	2503.396	2216.198
Profit	28.769	10.928	(341.455)
	1.32%	0.44%	(15.41%)

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	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 four 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

CORPORATE INFORMATION

The Company is incorporated under the Companies Act, 1956 as a Public Limited Company in which public are not substantially interested. It is engaged in manufacturing and sales of Plastic Granuals (Compounding), Molding Goods (Pipe, Fitting, EPS and others), Trading of injection molding machine and allied services like their installation and repairs. The Company has its Factories at Bahadurgarh (Haryana), Greater Noida (U.P.) Jammu, Chennai (Tamilnadu) and has branches /depot effecting sales at Pune, Delhi by itself. Registered office of the Company is situated at New Delhi.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long Term Borrowings
Rupee term loans from others	434.638	278.008
Total	434.638	278.008

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10376502	02/08/2014 *	197,500,000.00	STATE BANK OF INDIA	INDUSTRIAL COMPLEX BRANCH, BAHADURGARH -  124507, Haryana, INDIA	C22677561
2	90043507	25/03/2015 *	1,802,100,000.00	STATE BANK OF INDIA	INDUSTRIAL COMPLEX BRANCH, BAHADURGARH -  124507, HARYANA, INDIA	C50988682

* Date of charge modification

FIXED ASSETS

Tangible assets

• Land
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• 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 exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report : No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 65.55
UK Pound	1	Rs. 99.17
Euro	1	Rs. 73.08

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	AMR
Report Prepared by :	SANS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	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		27

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 unfavorable 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.