MIRA INFORM REPORT

Report No. :	344842
Report Date :	10.10.2015

IDENTIFICATION DETAILS

Name :	ANUPAM COLOURS AND CHEMICAL INDUSTRIES
Registered Office :	101-102, Kaveri Complex, Next to Hotel Holiday Inn, Jagannath Mandir Road, Sakinaka Junction, Mumbai – 400072, Maharashtra
Tel. No.:	91-22-28506532
Country :	India
Financials (as on) :	31.03.2014
Year of establishment :	1979
Capital Investment :	Rs.40.900 Million
IEC No.:	0388048751
TIN No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAAFA2081K
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Manufacturer, Exporter and Importer of Inorganic Chemicals like Middle Chrome, Lemon Chrome, Primrose Chrome, Scarlet Chrome etc.
No. of Employees :	41 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 120000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a partnership concern established in the year 1979. It is into manufacturing of Inorganic Chemicals. For the FY2014, the concern has achieved sales turnover of Rs.261.200 Million marked by satisfactory profitability margin of 1.65%. There is increase of 20.87% in profit as compared to previous year. The concern possesses adequate capital structure marked by good liquidity position. Trade relations are fair. Business is active. Payments are usually correct. The concern can be considered 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	CRISIL
Rating	SE 1B
Rating Explanation	Highest performance capability and moderate financial strength.
Date	8.12.2014

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. Rakesh Kapoor
Designation :	Accounts Manager
Contact No.:	91-9819600331
Date :	09.10.2015

LOCATIONS

Registered Office :	101-102, Kaveri Complex, Next to Hotel Holiday Inn, Jagannath Mandir Road, Sakinaka Junction, Mumbai – 400072, Maharashtra, India
Tel. No.:	91-22-28506532/ 28506586
Mobile No.:	91-9819600331 (Mr. Rakesh Kapoor)
Fax No.:	91-22-28525954
E-Mail :	info@anupamcoloursacci.com rakesh.kapoor@anupamcoloursacci.com
Website :	http://www.anupamcoloursacci.com
Area :	585 Sq. Ft.
Location :	Owned
Factory :	Plot 2324, GIDC Industrial Estate, 3^rd Phase, Vapi – 396195, Gujarat, India
Tel. No.:	91-260-2400224/ 2425804
Fax No.:	91-260-2401079
Area :	20043 Sq. Ft.
Location :	Leased

PARTNERS

Name :	Mr. Gur Baksh Singh
Designation :	Partner
Address :	Bunglow No. 14, Vaikunth CHS Limited, Sindhi Society, Chembur, Mumbai – 400071, Maharashtra, India
Date of Birth/Age :	07.03.1944
Qualification :	B. Sc, B. Sc (Tech)
Name :	Mrs. Kanwaljit Singh
Designation :	Partner
Address :	Bunglow No. 14, Vaikunth CHS Limited, Sindhi Society, Chembur, Mumbai – 400071, Maharashtra, India
Date of Birth/Age :	23.08.1944
Qualification :	BA, B Ed

KEY EXECUTIVES

Name :	Mr. Rakesh Kapoor
Designation :	Accounts Manager

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Inorganic Chemicals like Middle Chrome, Lemon Chrome, Primrose Chrome, Scarlet Chrome etc.
Products :	Lemon Chrome Primrose Chrome Scarlet Chrome
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Inorganic Pigments
Countries :	· Taiwan · Kenya · Dubai · Bangladesh · Egypt · Oman · Singapore · Thailand
Imports :
Products :	Raw Material
Countries :	Kazakhstan
Terms :
Selling :	L/C, Cash and Credit (30,60,90 Days)
Purchasing :	L/C, Cash and Credit (30,60,90 Days)

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Middle Chrome, Lemon Chrome, Primrose Chrome, Scarlet Chrome etc.	M. Tons	1500	1048

GENERAL INFORMATION

Suppliers :

Reference :	Delight Cromes Chemical Private Limited, Mumbai
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 :	Berger Paints
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 :

41 (Approximately)

Bankers :

Bank of Baroda, Industrial Estate Branch, Vapi - 396195, Gujarat, India

Banker Name	Bank of Baroda
Branch Address	Sakinaka, Andheri, Mumbai, Maharashtra, 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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	S.B. Chokshi and Company Chartered Accountants
Address :	Queens Diamond, M K Road, Opposite Charni Road, Railway Station, 2^nd Floor, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23614203
Mobile No.:	91-9821420026
Fax No.:	91-22-23683414
E-Mail :	sbchoksico@gmail.com
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	--

CAPITAL STRUCTURE

As on 31.03.2014

Capital Investment :
Owned :	Rs.40.900 Million
Borrowed :	--
Total :	Rs.40.900 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Partner’s Capital		40.900	30.236	22.218
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		40.900	30.236	22.218
LOAN FUNDS
1] Secured Loans		21.100	20.666	25.851
2] Unsecured Loans		0.600	1.573	1.714
TOTAL BORROWING		21.700	22.239	27.565
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		62.600	52.475	49.783
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.800	5.575	6.405
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.900	13.517	12.855
	Sundry Debtors	53.300	52.905	53.415
	Cash & Bank Balances	7.300	11.537	1.083
	Other Current Assets	11.900	11.378	9.009
	Loans & Advances	3.200	3.495	4.307
Total Current Assets		92.600	92.832	80.669
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	32.100	44.247	37.226
	Provisions	3.700	1.685	0.065
Total Current Liabilities		35.800	45.932	37.291
Net Current Assets		56.800	46.900	43.378
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		62.600	52.475	49.783

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	261.200	240.961	213.775
		Other Income	4.850	1.144	2.366
		TOTAL	266.050	242.105	216.141
Less	EXPENSES
		Cost of Goods Sold		183.970	162.398
		Manufacturing Expenses		26.885	27.105
		Administrative Expenses		21.111	18.464
		Selling Expenses		5.683	4.391
		TOTAL	260.929	237.649	212.358
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		5.121	4.456	3.783
Less/ Add	DEPRECIATION/ AMORTISATION		0.800	0.881	0.982
	NET PROFIT		4.321	3.575	2.801

Particulars	31.03.2015
Sales Turnover (Approximately)	320.000

Expected Sales (2015-2016) : Rs.350.000 Million

The above information has been parted by Mr. Rakesh Kapoor [Accounts Manager]

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.65	1.48	1.31
Return on Total Assets (PBT/Total Assets}	(%)	4.39	3.63	3.22
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.13
Debt Equity Ratio (Total Debt /Networth)		0.53	0.74	1.24
Current Ratio (Current Asset/Current Liability)		2.59	2.02	2.16

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	22.218	30.236	40.900
Reserves & Surplus	0.000	0.000	0.000
Net worth	22.218	30.236	40.900
Secured Loans	25.851	20.666	21.100
Unsecured Loans	1.714	1.573	0.600
Total borrowings	27.565	22.239	21.700
Debt/Equity ratio	1.241	0.736	0.531

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	213.775	240.961	261.200
		12.717	8.399

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	213.775	240.961	261.200
Profit	2.801	3.575	4.321
	1.31%	1.48%	1.65%

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	No
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	Yes
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	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last four 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	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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.64.78
UK Pound	1	Rs.99.54
Euro	1	Rs.73.08

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	AMR
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION		--
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.