MIRA INFORM REPORT

Report No. :	344347
Report Date :	09.10.2015

IDENTIFICATION DETAILS

Name :	UMICORE ANANDEYA INDIA PRIVATE LIMITED [w.e.f.18.02.2009]
Formerly Known As :	ANANDEYA ZINC OXIDES PRIVATE LIMITED
Registered Office :	Plot #23-26, Phase IIIA, Goa-IDC Industrial Area, Sancoale, Zuarinagar – 403726, Goa
Tel. No.:	91-832-6723999
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.09.2005
Com. Reg. No.:	24-006214
Capital Investment / Paid-up Capital :	Rs. 392.338 Million
CIN No.: [Company Identification No.]	U24130GA2005PTC006214
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAFCA3835M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Zinc Oxide. (Company is shut down)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Company is shut down
Payment Behaviour :	--
Litigation :	--
Comments :	Mr. Kamlesh Sharma from Marketing Department has informed that the company has been shut down from May 2015 and denied to provide reason for the same. No other information can be available. The company cannot be considered for any business dealings.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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. Kamlesh Sharma
Designation :	Marketing Department
Contact No.:	91-9096116669
Date :	08.10.2015

LOCATIONS

Registered Office/ Factory :	Plot #23-26, Phase IIIA, Goa-IDC Industrial Area, Sancoale, Zuarinagar – 403726, Goa, India
Tel. No.:	91-832-6723999
Fax No.:	91-832-2555770
E-Mail :	ravindranath.KP@ap.umicore.com kamlesh.sharma@ap.umicore.com
Website :	http://www.zincchemicals.umicore.com

DIRECTORS

AS ON 15.12.2014

Name :	Mr. Marc Lucien E Desirant
Designation :	Director
Address :	Rue Les Oies, 79, Chaudfontaine 4052, Belgium
Date of Birth/Age :	24.07.1951
Date of Appointment :	12.08.2008
DIN No.:	02288779
Name :	Mr. Daniel E.A. Kennis
Designation :	Director
Address :	Justicieplein 9 Bus 9, Dendermonde 9200, Belgium
Date of Birth/Age :	28.03.1957
Date of Appointment :	12.08.2008
DIN No.:	02298329
Name :	Mr. Ravindranath Kasargod Pattan Shetty
Designation :	Director
Address :	302, Aishwarya Bliss Apartments, 7th Cross, Sarakki Main Road, J. P. Nagar, 1st Phase, Bengalooru – 560078, Karnataka, India
Date of Birth/Age :	04.10.1970
Qualification :	MBA (Marketing and HR), BE (Mechanical)
Date of Appointment :	29.09.2011
PAN No.:	ACKPK6184B
DIN No.:	03471111

KEY EXECUTIVES

Name :	Mr. Kamlesh Sharma
Designation :	Marketing Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 15.12.2014

Names of Shareholders	No. of Shares
Umicore International [Formerly known as Umicore Finance Luxembourg], Luxembourg	39233300
Umicore Long Term Finance, Belgium	500
Total	39233800

AS ON 15.12.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Zinc Oxide. (Company is shut down)

Products :

Item Code No.	Product Description
28170010	Zinc Oxide

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :	Not Available
Customers :	Not Available
No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Price Waterhouse and Company Chartered Accountants
Address :	252 Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFP8828M
Memberships :	--
Collaborators :	--
Fellow Subsidiary company :	· Umicore Australia Limited · Umicore India Private Limited [U28112MH2009PTC191646] · Umicore Marketing Services · Umicore Maxton NC · Umicore Nederland B.V.
Holding company :	Umicore International SA (Formerly "Umicore Finance"), Luxembourg
Ultimate Holding Company :	Umicore SA, Belgium

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
39,500,000	Equity Shares	Rs. 10/- each	Rs. 395.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
39,233,800	Equity Shares	Rs. 10/- each	Rs. 392.338 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	392.338	279.032	214.952
(b) Reserves & Surplus	265.377	183.941	106.194
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	70.100	0.000
Total Shareholders’ Funds (1) + (2)	657.715	533.073	321.146
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(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	0.785	0.000	0.960
Total Non-current Liabilities (3)	0.785	0.000	0.960
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	9.876	6.959	6.108
(c) Other current liabilities	9.728	25.974	4.414
(d) Short-term provisions	3.835	5.373	1.299
Total Current Liabilities (4)	23.439	38.306	11.821
TOTAL	681.939	571.379	333.927
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	194.990	94.226	62.009
(ii) Intangible Assets	0.017	0.021	0.060
(iii) Capital work-in-progress	37.421	73.543	30.304
(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	12.708	8.989	5.237
(e) Other Non-current assets	5.036	6.036	11.339
Total Non-Current Assets	250.172	182.815	108.949
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	90.016	61.737	22.150
(c) Trade receivables	193.214	117.551	92.683
(d) Cash and cash equivalents	39.016	116.720	85.991
(e) Short-term loans and advances	109.460	91.521	21.610
(f) Other current assets	0.061	1.035	2.544
Total Current Assets	431.767	388.564	224.978
TOTAL	681.939	571.379	333.927

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	913.329	633.839	543.884
Less	EXPENSES
		TOTAL	1001.852	652.212	551.710
	PROFIT/ (LOSS) BEFORE TAX		(88.523)	(18.373)	(7.826)
Less	TAX		0.000	0.000	0.084
	PROFIT/ (LOSS) AFTER TAX		(88.523)	(18.373)	(7.910)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(154.828)	(136.455)	(128.545)
	BALANCE CARRIED TO THE B/S		(243.351)	(154.828)	(136.455)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	213.131	243.371	269.490
	Earnings/ (Loss) Per Share (Rs.)		(2.59)	(0.78)	(0.37)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	(158.168)	(102.392)	(7.826)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(9.69)	(2.90)	(1.44)
Return on Total Assets (PBT/Total Assets}	(%)	(13.73)	(3.69)	(2.58)
Return on Investment (ROI) (PBT/Networth)		(0.13)	(0.03)	(0.02)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		18.42	10.14	19.03

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	214.952	279.032	392.338
Reserves & Surplus	106.194	183.941	265.377
Net worth	321.146	533.073	657.715
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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)
Total Income	543.884	633.839	913.329
		16.539	44.095

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	543.884	633.839	913.329
Profit/ (Loss)	(7.826)	(18.373)	(88.523)
	(1.44%)	(2.90%)	(9.69%)

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)	No
16]	No. of employees	No
17]	Details of sister concerns	Yes
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	Yes
21]	Banking facility details	No
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	No
35]	Negative Reporting by Auditors in the Annual Report	No

CHANGE OF ADDRESS

The Registered office of the company has been shifted from 58/59, Bajaj Bhavan, Nariman Point, Mumbai – 400021, Maharashtra, India to the present address w.e.f.07.09.2009.

COMPANY INFORMATION

Subject is a private limited company incorporated in India in September 2005. The Company is primarily engaged in the manufacture of Zinc oxide and has its manufacturing plant located at Sancoale in Goa.

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
(a) Claims against the company not acknowledged as debts for Income Tax matters	5.543	5.543
(b) Claims against the company not acknowledged as debts for Indirect Tax matter (Excise duty)	9.999	0.000
Total	15.542	5.543
NOTE: It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the (a) above pending resolution of the respective proceedings.

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

· Other equipments

· Computer software

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.65.15
UK Pound	1	Rs.99.78
Euro	1	Rs.73.32

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	TRI
Report Prepared by :	JYTK

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.