MIRA INFORM REPORT

Report No. :	345188
Report Date :	16.10.2015

IDENTIFICATION DETAILS

Name :	R. P. GOURMET FOODS PRIVATE LIMITED
Registered Office :	Shop No. 9, Apna Bazar, Nehru Nagar, New Delhi – 110 065
Tel. No.:	91-11-26932950
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.10.2007
Com. Reg. No.:	55-169577
Capital Investment / Paid-up Capital :	Rs.1.000 Million
IEC No.:	0509010881
CIN No.: [Company Identification No.]	U15122DL2007PTC169577
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECR2739Q
Legal Form :	Private Limited Liability Company
Line of Business :	Importer and Distributor of Food Products.
No. of Employees :	15 (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 9100
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2007, having moderate track record. For the financial year 2014, the company has achieved adequate sales turnover but profitability margin was as low as 0.21%. The company possesses moderate financial risk profile marked by leveraged capital structure and there is unfavourable gap between trade receivables. However, trade relations are fair. Business is active. Payments are reported 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

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. Pankaj Singhal
Designation :	Director
Contact No.:	91-9810086352
Date :	14.10.2015

LOCATIONS

Registered Office :	Shop No. 9, Apna Bazar, Nehru Nagar, New Delhi – 110 065, India
Tel. No.:	91-11-26932950
Mobile No.:	91-9810086352 (Pankaj Singhal)
Fax No.:	Not Available
E-Mail :	p.singhal@rpgourmet.co.in sales@rpgourmet.co.in
Website:	http://www.rpgourmet.co.in
Warehouse:	Plot No. 53, Khushra No. 501 / 502 Village, Jaunapur, Mehrauli, New Delhi – 110 047, India

DIRECTORS

As on 30.09.2014

Name :	Mr. Ramesh Kumar Wadhwa
Designation :	Director
Address :	11 – 045, Lajpat Nagar, New Delhi – 110 024, India
Date of Birth/Age :	20.03.1960
Date of Appointment :	18.10.2007
DIN No.:	01434055
Name :	Mr. Pankaj Singhal
Designation :	Director
Address :	1 – 501, Somvihar, R. K. Puram, New Delhi – 110 022, India
Date of Birth/Age :	04.06.1962
Date of Appointment :	18.10.2007
DIN No.:	01819991

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Pankaj Singhal	49999
Ramesh Wadhwa	49997
Manish Chawla	01
Rajiv Gupta	01
Naresh Wadhwa	01
Meenu Wadhwa	01
TOTAL	100000

As on 29.06.2015

Names of Allottees	No. of Shares
Pankaj Singhal	150000
Ramesh Wadhwa	150000
TOTAL	300000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer and Distributor of Food Products.
Products :	Berries Butter Butter Cheese Cheeses Edam Cheese Emmentaler Cheese Fruit Purees Gouda Cheese Gruyere Process Cheese Ice Cream Yogrut
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Raw Material
Countries :	France Spain Italy United Kingdom Germany Greece Switzerland Ireland
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Irish Dairy Board Co-operative Limited – Ireland
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 :

Wholesalers, Retailers and End Users

Reference :	Oberoi Group of Hotel
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 :

Bank Name	Canara Bank
Branch	Maharani Bagh, New Delhi – 110 014, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loan from Bank (Secured against hypothecation of vehicles and personal guarantee of directors)	2.154	0.495
Short-term borrowings
From banks - Working Capital Limits	5.751	3.557
Total	7.905	4.052

Auditors :
Name :	Avinash Verma and Associates Chartered Accountants
Address :	B-3, School lane, Narain Vihar, New Delhi – 11 028, India
PAN N Income-tax PAN of auditor or auditor's firm :	AADPV5183G
Memberships :	--
Collaborators :	--
Sister Concern: (As confirmed by the management)	R. P. Gourmet Foods, Mumbai, Maharashtra, India
Enterprises by Key Management influenced by Key Management Personnel:	Wadhwa International Banyan Fine Foods India Private Limited

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.10/- each	Rs.4.000 million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 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	1.000	1.000	1.000
(b) Reserves & Surplus	2.198	2.046	1.856
(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)	3.198	3.046	2.856
(3) Non-Current Liabilities
(a) long-term borrowings	2.211	1.194	1.935
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	2.211	1.194	1.935
(4) Current Liabilities
(a) Short term borrowings	13.419	11.721	11.555
(b) Trade payables	11.695	10.104	8.686
(c) Other current liabilities	9.059	5.606	4.134
(d) Short-term provisions	0.125	0.159	0.369
Total Current Liabilities (4)	34.298	27.590	24.744
TOTAL	39.707	31.830	29.535
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.010	2.567	2.773
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.251	0.222	0.159
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2.261	2.789	2.932
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.989	9.158	10.106
(c) Trade receivables	9.424	9.809	12.753
(d) Cash and cash equivalents	4.232	3.129	2.322
(e) Short-term loans and advances	9.801	6.945	1.422
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	37.446	29.041	26.603
TOTAL	39.707	31.830	29.535

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	GROSS INCOME	66.147	46.145	60.607
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	0.253	0.293	0.931
Less	TAX	0.102	0.102	0.346
	PROFIT/ (LOSS) AFTER TAX	0.151	0.191	0.585
	Earnings / (Loss) Per Share (Rs.)	1.51	1.91	5.85

Particulars	31.03.2015
Sales Turnover (Approximately)	95.000

Expected Sales (2015-2016) : Rs.150.000 Million

The above information has been parted by Mr. Pankaj Singhal (Director)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	2.265	1.503	1.570
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Gross Income)	(%)	0.23	0.41	0.97
Return on Total Assets (PBT/Total Assets}	(%)	0.64	0.93	3.17
Return on Investment (ROI) (PBT/Networth)		0.08	0.10	0.33
Debt Equity Ratio (Total Debt /Networth)		4.89	4.24	4.72
Current Ratio (Current Asset/Current Liability)		1.09	1.05	1.08

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	1.000	1.000	1.000
Reserves & Surplus	1.856	2.046	2.198
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2.856	3.046	3.198
long-term borrowings	1.935	1.194	2.211
Short term borrowings	11.555	11.721	13.419
Current Maturities of Long-Term Debts	1.570	1.503	2.265
Total borrowings	15.060	14.418	17.895
Debt/Equity ratio	5.273	4.733	5.596

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)
Gross Income	60.607	46.145	66.147
		(23.862)	43.346

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	60.607	46.145	66.147
Profit	0.585	0.191	0.151
	0.97%	0.41%	0.23%

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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	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	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

NOTE: Registered office of the company has been shifted from 13, Apna Bazaar, Ring Road, Nehru Nagar, New Delhi – 110 065, India to the present office address w.e.f 24.01.2012

PERFORMANCE

During the year Gross income of the company has increased to Rs.66.147 Million as campared to Rs.46.145 Million in the previous year. The company earned a profit of Rs.0.151 Million as compared to Rs.0.191 Million in the previous year. The directors are hopeful of showing better results in the future.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loan from other party (Secured against personal guarantee of directors)	0.057	0.699
Short-term borrowings
From Related Parties	3.460	4.367
From other party	4.208	3.797
Total	7.725	8.863

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10511672	03/07/2014	3,000,000.00	CANARA BANK	MAHARANI BAGH, NEW DELHI, Delhi - 110014, INDIA	C14096770
2	10274231	21/08/2015 *	28,200,000.00	CANARA BANK	MAHARANI BAGH, NEW DELHI, Delhi - 110014, INDIA	C64344070
3	10260505	14/12/2010	294,600.00	CANARA BANK	MAHARANI BAGH BRANCH, SIDDARTH ENCLAVE, NEW DELHI - 110014, INDIA	B02938769

FIXED ASSETS

• Plant and Machinery
• Air Conditioner
• Cycle
• Chest Machine
• Dies
• EPBX Machine
• Generator
• Invertor
• Scooter
• Weighting Machine
• Fax machine
• Mobile Phone
• Typewriter
• Generator
• Furniture and Fittings
• Computer
• Vehicles

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.64.82
UK Pound	1	Rs.100.41
Euro	1	Rs.75.50

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--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	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.