MIRA INFORM REPORT

Report No. :	346272
Report Date :	24.10.2015

IDENTIFICATION DETAILS

Name :	ROCKDUDE IMPEX PRIVATE LIMITED
Registered Office :	E - 12, 6th Floor, Everest Building, Tardeo Road, Mumbai Central, Mumbai – 400034, Maharashtra
Tel. No.:	91-22-23539474
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.04.2009
Com. Reg. No.:	11-191849
Capital Investment / Paid-up Capital :	Rs.5.595 Million
CIN No.: [Company Identification No.]	U51109MH2009PTC191849
IEC No.:	0311053726
TAN No.: [Tax Deduction & Collection Account No.]	MUMR28323B
PAN No.: [Permanent Account No.]	AAECR3267K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Aluminium Foil Rolls, Aluminium Foil Containers, Paper cups.
No. of Employees :	22 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 41000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2009. It is a manufacturer, exporter and importer of aluminium foil rolls, aluminium foil containers and paper cups. For the FY 2014, the company has achieved decent sales turnover marked by profitability margin of 0.99%. However, the company possesses modest net worth base marked by relatively high debt levels. Rating is further constrained on account of company's operation in highly competitive aluminum foil industry. Trade relations are fair. Business is active. Payments are slow but correct. The company 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	CARE
Rating	Long term bank facilities: BB-
Rating Explanation	Inadequate credit quality and high credit risk.
Date	16.04.2015

Rating Agency Name	CARE
Rating	Short term bank facilities: A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	16.04.2015

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. Shirish
Designation :	Accounts Executive
Contact No.:	91-22-23539474
Date :	21.10.2015

LOCATIONS

Registered Office :	E - 12, 6th Floor, Everest Building, Tardeo Road, Mumbai Central, Mumbai – 400034, Maharashtra, India
Tel. No.:	91-22-23539474
Fax No.:	91-22-23510890
E-Mail :	rockdude232@gmail.com shirish619@yahoo.com
Website:	www.rockdudeimpex.com
Factory 1 :	Gut No.289, Village Abhitghar, Taluka Wada, District Thane – 421303, Maharashtra, India
Factory 2 :	388-B, Sur.No.84/103, Shree Shyam Estate, Off. N.H.No.8, Village Bapane Taluka -Vasai, Naigaon East, Thane – 401208, Maharashtra, India
Factory 3 :	476-A, At Abitghar (Patil Pada), Taluka Wada, City-Wada, District -Palghar, Maharashtra, India

DIRECTORS

AS ON 05.09.2014

Name :	Mrs. Vimal Kumar Somani
Designation :	Director
Address :	3101-3102 Tower D, Ashok Towers, Dr S S Rao Road, Near ITC Hotel, Parel, Mumbai - 400012, Maharashtra, India
Date of Birth/Age :	06.06.1965
Date of Appointment :	20.04.2009
DIN No.:	01526152
Name :	Mr. Karan Mody Rajendra
Designation :	Director
Address :	A/12 603 Siddharth Nagar, Khatau Mill Compound Opposite Bhor Indust Borivali (East), Mumbai, 400066, Maharashtra, India
Date of Birth/Age :	19.11.1986
Date of Appointment :	20.01.2012
DIN No.:	05118407
Name :	Mrs. Vandana Santosh Prabhu
Designation :	Director
Address :	13/152, Vishramalaya CHS, Sion Circle, Sion, Mumbai - 400022, Maharashtra, India
Date of Birth/Age :	27.10.1971
Date of Appointment :	20.01.2012
DIN No.:	05180079

KEY EXECUTIVES

Name :	Mr. Shirish
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 05.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
Vimalkumar Somani	46390
Anand Satram Wadhwani	13100
Rockdude Financial Services Private Limited, India	10
Total	59500

Names of Shareholders (Preference Shares)	No. of Shares
Rockdude Financial Services Private Limited, India	50000
Total	50000

AS ON 20.03.2015

Names of Allottees (Equity Shares)	No. of Shares
Vimalkumar Somani	1333333
Total	1333333

AS ON 19.03.2015

Names of Allottees (Equity Shares)	No. of Shares
Vimalkumar Somani	417510
Anand Satram Wadhwani	117900
Rockdude Financial Services Private Limited, India	90
Total	535500

Equity Share Break up (Percentage of Total Equity)

AS ON 05.09.2014

Category	Percentage
Bodies corporate	0.02
Directors or relatives of Directors	99.98
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Aluminium Foil Rolls, Aluminium Foil Containers, Paper cups.
Products :	Aluminium Foil Rolls Aluminium Foil Containers Paper cups
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Ireland Netherland UK
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

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 :

Wholesalers, Retailers and End users

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 :

22 (Approximately)

Bankers :

Axis Bank, Worli Naka, Mumbai – 400018, Maharashtra, India

Banker Name	Union Bank of India
Branch Address	Shop No 1 To 5 Gr Floor Orchid Apartment, Carter Road No 7 Borivali East, Mumbai - 400066, 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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Cash Credit facility taken loan from Union Bank of India (secured against hypothecation of book debt and stock)	4.698	0.000
Buyer credit / impact LC facility taken from Union Bank of India	13.896	0.000
Letter of credit facility taken from Union Bank of India	1.893	0.000
Total	20.487	0.000

Auditors :
Name :	Preeti B Desai Chartered Accountant
Address :	54 Chandralok Building, Off Arrey Road, Goregoan West, Mumbai – 400062, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AJCPD4137G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Rockdude Exim Private Limited Address: E - 12, 6th Floor, Everest Building, Tardeo Road, Mumbai Central, Mumbai – 400034, Maharashtra, India

CAPITAL STRUCTURE

AFTER 05.09.2015

Authorised Capital : Rs. 70.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 48.033 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs.10/- each	Rs. 0.700 Million
50000	Preference Shares	Rs.100/- each	Rs. 5.000 Million
	Total		Rs. 5.700 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
59500	Equity Shares	Rs.10/- each	Rs. 0.595 Million
50000	Preference Shares	Rs.100/- each	Rs. 5.000 Million
	Total		Rs. 5.595 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	5.595	5.136	0.100
(b) Reserves & Surplus	8.750	1.649	0.571
(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)	14.345	6.785	0.671
(3) Non-Current Liabilities
(a) long-term borrowings	15.307	4.705	1.243
(b) Deferred tax liabilities (Net)	0.059	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)	15.366	4.705	1.243
(4) Current Liabilities
(a) Short term borrowings	20.524	0.000	5.000
(b) Trade payables	5.768	8.055	1.665
(c) Other current liabilities	2.578	1.061	2.200
(d) Short-term provisions	0.000	0.000	0.270
Total Current Liabilities (4)	28.870	9.116	9.135
TOTAL	58.581	20.606	11.049
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6.828	4.359	3.150
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	5.273	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	6.944	0.210	0.210
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.025	0.025	0.025
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	19.070	4.594	3.385
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.147	2.461	0.000
(c) Trade receivables	14.071	7.200	0.774
(d) Cash and cash equivalents	6.777	2.692	5.015
(e) Short-term loans and advances	6.808	3.472	1.715
(f) Other current assets	1.708	0.187	0.160
Total Current Assets	39.511	16.012	7.664
TOTAL	58.581	20.606	11.049

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	156.369	64.515	0.000
	Other Income	1.288	1.465	1.026
	TOTAL	157.657	65.980	1.026
Less	EXPENSES	155.395	64.359	0.534
	PROFIT/ (LOSS) BEFORE TAX	2.262	1.621	0.492
Less	TAX	0.715	0.543	0.150
	PROFIT/ (LOSS) AFTER TAX	1.547	1.078	0.342
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	1.649	0.571	0.229
	Balance Carried to the B/S	3.196	1.649	0.571
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	17.750	0.000	0.000
	TOTAL EARNINGS	17.750	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)	112.73	106.51	34.16

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) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.99	1.67	0.00
Return on Total Assets (PBT/Total Assets}	(%)	4.88	7.95	4.54
Return on Investment (ROI) (PBT/Networth)		0.16	0.24	0.73
Debt Equity Ratio (Total Debt /Networth)		2.50	0.69	9.30
Current Ratio (Current Asset/Current Liability)		1.37	1.76	0.84

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	0.100	5.136	5.595
Reserves & Surplus	0.571	1.649	8.750
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.671	6.785	14.345
long-term borrowings	1.243	4.705	15.307
Short term borrowings	5.000	0.000	20.524
Total borrowings	6.243	4.705	35.831
Debt/Equity ratio	9.304	0.693	2.498

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)
Sales	0.000	64.515	156.369
			142.376

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	0.000	64.515	156.369
Profit	0.342	1.078	1.547
		1.67%	0.99%

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	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 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	Yes
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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan from directors	0.000	1.455
Loans from relatives of directors	0.217	0.000
Loan from body corporate	15.090	3.250
SHORT TERM BORROWING
Shareholders	0.022	0.000
Directors	0.015	0.000
Total	15.344	4.705

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10371957	11/06/2015 *	191,500,000.00	UNION BANK OF INDIA	SHOP NO 1 TO 5 GROUND FLOOR ORCHID APARTMENT, CAR TER ROAD NO 7 BORIVALI EAST, MUMBAI, MAHARASHTRA - 400066, INDIA	C57340523

* Date of charge modification

FIXED ASSETS

• Land
• Furniture and Fixtures
• Machinery

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.64.88
UK Pound	1	Rs.99.89
Euro	1	Rs.72.06

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.