MIRA INFORM REPORT

Report No. :	346616
Report Date :	26.10.2015

IDENTIFICATION DETAILS

Name :	RUDOLF ATUL CHEMICALS LIMITED (w.e.f. 05.12.2011)
Formerly Known As :	RUDOLF KIRI CHEMICALS PRIVATE LIMITED (w.e.f. 21.02.2007) GARFIN TECHNOLOGIES PRIVATE LIMITED
Registered Office :	B/18598, Survey No. 33, Post Atul, Valsad – 396020, Gujarat
Tel. No.:	91-2632-230000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	25.02.2005
Com. Reg. No.:	04-045564
Capital Investment / Paid-up Capital :	Rs. 58.375 Million
CIN No.: [Company Identification No.]	U24110GJ2005PLC045564
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturing and Marketing of Textile Chemicals.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 2005 and it is a manufacturer of textile chemicals. For the financial year ended 2014, company has reported 49% sales turnover growth as compared to previous sales turnover and it has maintained decent profitability margins at 11.52% during the year under a review. Rating also takes into consideration its healthy financial profile supported by its zero debt balance sheet along with adequate net worth and sound debt protector indicators. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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	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. Naresh
Designation :	Account Manager
Contact No.:	91-2632-234382
Date :	23.10.2015

LOCATIONS

Registered/ Marketing Office/ Factory :	B/18598, Survey No. 33, Post Atul, Valsad – 396020, Gujarat, India
Tel. No.:	91-2632-230000
Fax No.:	Not Available
E-Mail :	racl@atul.co.in
Website :	http://www.atul.co.in

DIRECTORS

AS ON 18.07.2014

Name :

Venu Gopala Rao Gudi Guntla

Designation :

Managing Director

Address :

Flat No 401 4th Flr, Plot No 84 Dimond Nagar, Chs Nishant Residency Sector - 29 Vashi, Navi Mumbai - 400705, Maharashtra, India

Date of Birth/Age :

14.03.1963

Date of Appointment :

18.08.2011

DIN No.:

03635806

Name :

Gopikannan Rengachari Thirukonda

Designation :

Director

Address :

Flat No.113,11th Floor, Building 1, Wing - B, Kalpa - Taru Aura, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India

Date of Birth/Age :

30.03.1959

Date of Appointment :

03.08.2015

DIN No.:

00048645

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	U51900MH1947PLC005453	ATUL FINSERV LIMITED	Director	17/05/1994	17/05/1994	-	Active	NO
2	U24230GJ1997PLC032369	ATUL BIOSCIENCE LIMITED	Director	21/05/1997	21/05/1997	-	Active	NO
3	U24110GJ1999PLC035663	ATRO LIMITED	Director	26/03/1999	26/03/1999	-	Under liquidation	NO
4	U01122RJ2009PLC028415	ATUL RAJASTHAN DATE PALMS LIMITED	Director	05/03/2009	05/03/2009	-	Active	NO
5	L24100MH1974PLC017594	AMAL LIMITED	Director	24/09/2010	21/01/2010	-	Active	NO
6	U24110GJ2005PLC045564	RUDOLF ATUL CHEMICALS LIMITED	Director	03/08/2015	18/08/2011	-	Active	NO
7	U24100GJ2011PLC065979	ATUL ELKAY POLYMERS LIMITED	Director	12/05/2015	02/04/2012	-	Active	NO
8	L99999GJ1975PLC002859	ATUL LIMITED	Whole-time director	17/10/2014	17/10/2014	-	Active	NO

Name :

Sudhir Ajitkumar Merchant

Designation :

Director

Address :

8-A Suvas Apartment, 68 F Nepeansea Road,Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

25.08.1953

Date of Appointment :

03.08.2015

DIN No.:

00033406

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	L29261PN1955PLC009579	THE INDIAN CARD CLOTHING COMPANY LIMITED	Director	31/07/2014	29/12/1980	-	Active	NO
2	U67120MH1981PTC025769	SAIDARSHAN BUSINESS CENTRES PRIVATE LIMITED	Director	26/12/1981	26/12/1981	-	Active	NO
3	U24230MH1987PTC044312	ZYG PHARMA PRIVATE LIMITED	Director	17/08/1987	17/08/1987	17/07/2015	Active	NO
4	U02004MH1993GAP070383	GUM MANUFACTURERES' ASSOCIATION OF INDIA	Director	14/01/1993	14/01/1993	-	Active	NO
5	U51900MH1982PTC027754	ANSA PACKAGING PRODUCTS PRIVATE LIMITED	Director	18/04/1995	18/04/1995	11/08/2009	Amalgamated	NO
6	U99999MH1994PLC083006	SHREELEKHA GLOBAL FINANCE LIMITED	Director	23/06/1995	23/06/1995	23/05/2008	Active	NO
7	U24230MH1991PTC063720	ENCORE NATURAL POLYMERS PRIVATE LIMITED	Managing director	27/11/1998	27/11/1998	-	Active	NO
8	U65990MH1998PTC117497	ALPEX HOLDINGS PRIVATE LIMITED	Director	21/12/1998	21/12/1998	19/11/2007	Active	NO
9	U65990MH1999PTC117937	CAVAAL FININVEST PRIVATE LIMITED	Director	25/01/1999	25/01/1999	19/11/2007	Amalgamated	NO
10	U85110MH2002PTC134732	ENCORE HEALTHCARE PRIVATE LIMITED	Director	30/01/2002	30/01/2002	-	Active	NO
11	U17100MH1999PTC122652	Piramal Estates Private Limited	Director	26/08/2002	26/08/2002	-	Active	NO
12	U70100MH2005PTC155914	PROPIEDADES REALTIES PRIVATE LIMITED	Director	06/09/2005	06/09/2005	14/02/2009	Active	NO
13	U15429PN2006PTC022160	SHIVRAJ SUGAR AND ALLIED PRODUCTS PRIVATE LIMITED	Director	15/03/2007	15/03/2007	-	Active	NO
14	U74900GJ2007PTC051585	ENCORE BUSINESS CENTRE PRIVATE LIMITED	Director	23/08/2007	23/08/2007	-	Converted to LLP	NO
15	U65990MH2007PTC173575	YUGA FINVEST PRIVATE LIMITED	Director	28/08/2007	28/08/2007	-	Amalgamated	NO
16	U91110WB1957NPL023474	SHELLAC AND FOREST PRODUCTS EXPORT PROMOTION COUNCIL	Director	02/06/2009	02/06/2009	-	Active	NO
17	L22210MH1987PLC044505	TCPL Packaging Limited	Director	21/09/2010	30/10/2009	-	Active	NO
18	U24110GJ2005PLC045564	RUDOLF ATUL CHEMICALS LIMITED	Director	03/08/2015	18/08/2011	-	Active	NO
19	U70102MH2011PTC222315	Begonia Constructions Private Limited	Director	23/09/2011	23/09/2011	-	Strike off	NO
20	U51101MH2011PTC224184	Yuvak Ventures Private Limited	Director	21/11/2011	21/11/2011	23/09/2013	Active	NO
21	U24139GJ2012PTC070478	ENCORE POLYFRAC PRODUCTS PRIVATE LIMITED	Director	25/05/2012	25/05/2012	-	Active	NO
22	U70100MH2011PTC222939	Bluebottle Buildcon Private Limited	Director	30/03/2013	30/03/2013	-	Strike off	NO
23	U70102MH2011PTC222601	Bergamet Buildcon Private Limited	Director	30/03/2013	30/03/2013	-	Strike off	NO
24	U70102MH2011PTC222603	Fennel Constructions Private Limited	Director	30/03/2013	30/03/2013	-	Strike off	NO
25	U85191MH2014PTC251976	ENCORE HEALTHCARE INTERNATIONAL PRIVATE LIMITED	Director	10/01/2014	10/01/2014	-	Active	NO
26	AAC-3550	ENCORE BUSINESS CENTRE LLP	Designated Partner	09/06/2014	09/06/2014	-	Active	NO

Name :

Sujal Anil Shah

Designation :

Director

Address :

701, 7th Floor, Mayfair Kumkum CHS Ltd,CTS No. 772, S.V Road, Next To Bank Of India Andheri West,, Mumbai - 400058, Maharashtra, India

Date of Birth/Age :

23.09.1968

Date of Appointment :

03.08.2015

DIN No.:

00058019

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	U72900MH2005PTC152504	I-PROCESS SERVICES (INDIA) PRIVATE LIMITED	Director	07/04/2005	07/04/2005	-	Active	NO
2	L36911MH1986PLC040689	GITANJALI GEMS LTD	Director	25/10/2005	25/10/2005	30/09/2013	Active	NO
3	U45200MH2006PLC161190	Reliance Asset Reconstruction Company Limited	Director	02/08/2014	31/10/2006	-	Active	NO
4	U29299MH1987PLC045446	Reliance MediaWorks Limited	Director	06/10/2014	26/04/2007	02/04/2015	Active	NO
5	U93091MH2007PTC166890	DAWNAY DAY AV TRUSTEE COMPANY PRIVATE LIMITED	Director	11/07/2008	13/08/2007	05/01/2009	Strike off	NO
6	L67120MH1993PLC072407	KEYNOTE CORPORATE SERVICES LIMITED	Director	09/09/2014	29/01/2008	04/05/2015	Active	NO
7	U64120MH2003PTC143115	ELBEE EXPRESS PRIVATE LIMITED	Director	22/09/2008	12/03/2008	14/09/2009	Under liquidation	NO
8	U67190MH2009FTC193009	DHFL Pramerica Trustees Private Limited	Director	21/09/2010	28/07/2009	-	Active	NO
9	L17110MH1882PLC000045	THE HINDOOSTAN SPINNING AND WEAVING MILLS LIMITED	Director	10/03/2010	20/11/2009	-	Amalgamated	NO
10	L24100MH1974PLC017594	AMAL LIMITED	Director	09/08/2011	24/09/2010	-	Active	NO
11	U17291MH2010PLC205356	HINDOOSTAN TECHNICAL FABRICS LIMITED	Director	15/09/2011	27/09/2010	-	Amalgamated	NO
12	U51909UP1985PLC056366	AMRIT BANASPATI COMPANY LIMITED	Director	20/08/2011	30/10/2010	17/07/2013	Active	NO
13	L17121MH1904PLC000195	HINDOOSTAN MILLS LIMITED	Director	15/09/2011	08/06/2011	-	Active	NO
14	U24110GJ2005PLC045564	RUDOLF ATUL CHEMICALS LIMITED	Director	03/08/2015	18/08/2011	-	Active	NO
15	L24110GJ1991PLC020753	SABERO ORGANICS GUJARAT LIMITED	Director	13/07/2012	02/12/2011	22/10/2013	Amalgamated	NO
16	U74900MH2012PTC232836	SSPA CONSULTANTS PRIVATE LIMITED	Director	02/07/2012	02/07/2012	-	Active	NO
17	U51100MH1996PLC100126	CAPRICON REALTY LIMITED	Director	17/07/2013	10/04/2013	-	Active	NO
18	U51900MH1996PLC104746	BHISHMA REALTY LIMITED	Director	17/07/2013	10/04/2013	-	Active	NO
19	U72200MH1986PTC039935	RAIJIANDHORWATH CONSULTANCY SERVICES PVT LTD	Additional director	20/08/2013	20/08/2013	-	Active	NO
20	L15141UP1940PLC000946	AMRIT CORP. LIMITED	Director	07/07/2015	24/02/2015	-	Active	NO
21	U24100GJ2014PTC081290	Convergence Chemicals Private Limited	Director	28/07/2015	25/03/2015	-	Active	NO
22	U65192MH1995PLC092522	JM FINANCIAL INSTITUTIONAL SECURITIES LIMITED	Director	05/06/2015	22/05/2015	-	Active	NO
23	L17110GJ1913PLC000035	MAFATLAL INDUSTRIES LIMITED	Director	12/08/2015	30/05/2015	-	Active	NO

Name :

Ulrich Hambrecht

Designation :

Director

Address :

Socking, Alpenstrabe 16b, Starnberg, 82319, Germany

Date of Birth/Age :

08.05.1948

Date of Appointment :

27.03.2008

DIN No.:

01967154

Name :

Wolfgang Anton Schumann

Designation :

Director

Address :

Schoenfeldstr, 26, Munich, 80539, Germany

Date of Birth/Age :

09.07.1973

Date of Appointment :

27.03.2008

DIN No.:

01995827

KEY EXECUTIVES

Name :	Rakesh Rameshchandra Pathak
Designation :	Secretary
Address :	7, Suruchi Colony, Post Atul, Valsad - 396020, Gujarat, India
Date of Appointment :	03.08.2015
PAN No.:	AFWPP0975N

MAJOR SHAREHOLDERS

AS ON 18.07.2014

Names of Shareholders	No. of Shares
Apurva Mrighank Dutta	1
Dr. G V G Rao	1
Sunil Sumant Joshi	1
T R Gopi Kannan	1
Lalit Patni	1
Atul Limited	2918745
IB Industriechemie Beteilingungs GmbH, Germany	2918750
Total	5837500

Equity Share Break up (Percentage of Total Equity)

AS ON 18.07.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Marketing of Textile Chemicals.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	Germany
Terms :
Selling :	Cash and Credit (30/60/90 days)
Purchasing :	Cash and Credit (30/60/90 days)

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Ellisbridge Bridge, Ahmedabad, Gujarat, 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 :	B R Shah and Associates Chartered Accountants
Address :	Ahmedabad, Gujarat, India
PAN No.:	AALFB4243K
Memberships :	--
Collaborators :	--
Joint venture :	I B Industrieschemie Atul Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Rudolf GMBH

CAPITAL STRUCTURE

AS ON 18.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7000000	Equity Shares	Rs.10/- each	Rs. 70.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5837500	Equity Shares	Rs.10/- each	Rs. 58.375 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	58.375	58.375	58.375
(b) Reserves & Surplus	100.071	75.049	61.097
(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)	158.446	133.424	119.472
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.311
(b) Deferred tax liabilities (Net)	0.000	1.283	3.085
(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)	0.000	1.283	3.396
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	48.818	61.235	33.044
(c) Other current liabilities	7.558	5.591	5.616
(d) Short-term provisions	10.409	1.094	0.409
Total Current Liabilities (4)	66.785	67.920	39.069
TOTAL	225.231	202.627	161.937
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.014	5.429	18.525
(ii) Intangible Assets	7.219	14.354	21.458
(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)	0.007	0.000	0.000
(d) Long-term Loan and Advances	28.483	30.000	30.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	40.723	49.783	69.983
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	41.071	25.021	22.707
(c) Trade receivables	79.017	68.516	43.800
(d) Cash and cash equivalents	50.127	45.918	19.621
(e) Short-term loans and advances	11.891	11.899	5.328
(f) Other current assets	2.402	1.490	0.498
Total Current Assets	184.508	152.844	91.954
TOTAL	225.231	202.627	161.937

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	311.247	206.700	113.311
	Other Income	15.824	14.979	0.012
	TOTAL	327.071	221.679	113.323
Less	EXPENSES
	Cost of Materials Consumed	204.090	156.696	70.022
	Purchases of Stock-in-Trade	9.709	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3.905)	(0.826)	1.411
	Employees benefits expense	0.000	0.247	6.357
	Other expenses	56.171	36.206	35.342
	Prior Period Items before tax	0.215	0.030	0.000
	TOTAL	266.280	192.353	113.132
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	60.791	29.326	0.191
Less	FINANCIAL EXPENSES	0.155	1.956	1.559
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	60.636	27.370	(1.368)
Less/ Add	DEPRECIATION/ AMORTISATION	7.840	8.050	2.062
	PROFIT / (LOSS) BEFORE TAX	52.796	19.320	(3.430)
Less	TAX	17.529	5.369	1.642
	PROFIT / (LOSS) AFTER TAX	35.267	13.951	(5.072)
	EARNINGS IN FOREIGN CURRENCY
	Export Earnings	0.000	0.000	1.268
	TOTAL EARNINGS	0.000	0.000	1.268
	IMPORTS
	Raw Materials	78.732	3.240	17.243
	TOTAL IMPORTS	78.732	3.240	17.243
	Earnings Per Share (Rs.)	6.04	2.39	(0.87)

Particulars	31.03.2015
Sales Turnover (Approximately)	400.000

The above information has been parted by Mr. Naresh (Account Manager)

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 flow from (used in) operation	36.199	43.605	(30.169)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	11.33	6.75	(4.48)
Operating Profit Margin (PBIDT/Sales)	(%)	19.53	14.19	0.17
Return on Total Assets (PBT/Total Assets}	(%)	23.44	9.53	(2.12)
Return on Investment (ROI) (PBT/Networth)		0.33	0.14	(0.03)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.76	2.25	2.35

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	58.375	58.375	58.375
Reserves & Surplus	61.097	75.049	100.071
Share Application money pending allotment	0.000	0.000	0.000
Net worth	119.472	133.424	158.446
long-term borrowings	0.311	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	0.311	0.000	0.000
Debt/Equity ratio	0.003	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)
Sales	113.311	206.700	311.247
		82.418	50.579

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	113.311	206.700	311.247
Profit / (Loss)	(5.072)	13.951	35.267
	(4.48%)	6.75%	11.33%

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	No
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

NOTE: Registered office of the company has been shifted from 7^th Floor, Hasubhai Chambers, Near Town Hall Ellisbridge, Ahmedabad – 380006, Gujarat, India to the present address w.e.f. 18.08.2011.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Factory Building
• Furniture and Fixture
• Office Equipments
• 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. 64.88
UK Pound	1	Rs. 99.89
Euro	1	Rs. 72.06

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAR
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.