MIRA INFORM REPORT

Report No. :	346747
Report Date :	27.10.2015

IDENTIFICATION DETAILS

Name :	ADO ADDITIVES TECHNOLOGIES PRIVATE LIMITED
Registered Office :	D-1, Basement, Acharya Niketan, Mayur Vihar Phase I, New Delhi-110091
Tel. No.:	91-11-22751121/ 31/ 51/ 61
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.03.2005
Com. Reg. No.:	55-134055
Capital Investment / Paid-up Capital :	Rs. 0.475 Million
CIN No.: [Company Identification No.]	U24295DL2005PTC134055
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELA20881A
PAN No.: [Permanent Account No.]	AAFCA1329Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Construction Material.
No. of Employees :	50 (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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2005. It is well established company having a satisfactory track record. The rating on company reflects its significant growth into its operational activities during FY-2014, marked by its decent profitability margin along with improved capital structure driven by equity infusion by its promoter during the year under review. Rating also takes consideration on company promoter’s extensive experience in the manufacturing construction material business with satisfactory financial base and debt protection metrics. However, the rating is constrained on company exposure to intense competition in the construction sector and fluctuation in the raw material prices. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. In a view of aforesaid, the company can be considered normal 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

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. Sanjay Arora
Designation :	Director
Contact No.:	91-9810073849
Date :	26.10.2015

LOCATIONS

Registered Office/ Factory 1 :	D-1, Basement, Acharya Niketan, Mayur Vihar Phase I, New Delhi-110091, India
Tel. No.:	91-11-22751121/ 31/ 51/ 61
Mobile No.:	91-9810073849 (Mr. Sanjay Arora)
Fax No.:	91-11-22791121
E-Mail :	cabansalarun@gmail.com atpldelhi@gmail.com info@atplgroup.com
Website :	http://www.atplgroup.in
Location :	Owned
Locality :	Commercial
Factory 2 :	2/52, Site-4, Sahibabad Industrial Area, Ghaziabad-201010, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sanjay Arora

Designation :

Director

Address :

H. No. 619, Sector-28, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

20.01.1965

Date of Appointment :

16.03.2005

DIN No.:

02656579

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	Company/ LLP Status	Defaulting status
1	U24295DL2005PTC134055	ADO ADDITIVES TECHNOLOGIES PRIVATE LIMITED	Director	16/03/2005	16/03/2005	Active	NO
2	U74900DL2009PTC192010	NANOENGITECH SYSTEMS PRIVATE LIMITED	Director	08/07/2009	08/07/2009	Active	NO
3	U24200WB2009PTC139495	ADO ADDITIVES MFG PRIVATE LIMITED	Director	18/11/2009	18/11/2009	Active	NO

Name :

Mr. Abhinav Arora

Designation :

Director

Address :

619, Sector-28, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

20.10.1992

Date of Appointment :

01.05.2012

DIN No.:

05271281

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	Company/ LLP Status	Defaulting status
1	U24295DL2005PTC134055	ADO ADDITIVES TECHNOLOGIES PRIVATE LIMITED	Director	01/05/2012	01/05/2012	Active	NO
2	U74900DL2009PTC193984	MAPLE LEAF ELECTROVACS AND ACCESS SYSTEMS PRIVATE LIMITED	Director	17/02/2014	17/02/2014	Active	NO
3	U74900DL2009PTC192010	NANOENGITECH SYSTEMS PRIVATE LIMITED	Director	10/06/2014	10/06/2014	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Sanjay Arora	5000
Sanjib Parial	5000
Nanoengitech Systems Private Limited, India	37500
Total	47500

AS ON 30.03.2015

Names of Allottees	No. of Shares
Sanjay Arora	28663
Anita Arora	22876
Abhinav Arora	24461
Total	76000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	70.00
Directors or relatives of directors	30.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Construction Material.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Cash and Credit (30 days, 60 days and 90 days)
Purchasing :	Cash and Credit (30 days, 60 days and 90 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

End Users and OEMs

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

Bank Name:	Indian Overseas Bank
Branch:	Vanasthali Branch, I P Extension, New Delhi - 110092, Delhi, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-44-28519488 (Ringing Continuously)
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit=Rs. 5.000 Million
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Indian Overseas Bank

HS - 31, Kailash Colony Market, New Delhi - 110048, Delhi, India

· HDFC Bank Limited

· Duetsche Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Indian Overseas Bank – C/C	0.584	3.794
HDFC Bank – Car loan	2.452	0.264
Duetsche Bank	1.219	0.000
Innovative Co-op Urban Bank-Term Loan	0.721	0.000
Indian Overseas Bank – Loan against FDR	1.805	1.643
Total	6.781	5.701

Banking Relations :	--
Auditors :
Name :	A.B. and Associates Chartered Accountants
Address :	L-201/202, Dua Complex, 24 Veer Savarkar Block, Shakarpur, Vikas Marg, Delhi – 110092, India
Tel. No.:	91-11-22524231/ 43086263
E-Mail :	cabansalarun@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAFPB5746B
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Avaialble

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 10/- each	Rs. 2.500 Million

Authorised Capital :

No. of Shares	Type	Value	Amount
123500	Equity Shares	Rs. 10/- each	Rs. 1.235 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

Authorised Capital :

No. of Shares	Type	Value	Amount
47,500	Equity Shares	Rs. 10/- each	Rs. 0.475 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	0.475	0.475	0.475
(b) Reserves & Surplus	10.826	8.469	7.523
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	2.000	1.000
Total Shareholders’ Funds (1) + (2)	11.301	10.944	8.998
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	18.493	8.701	5.740
(b) Trade payables	91.864	57.569	31.621
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	9.637	2.337	0.826
Total Current Liabilities (4)	119.994	68.607	38.187
TOTAL	131.295	79.551	47.185
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.357	1.357	1.491
(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)	0.024	0.056	0.045
(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	5.381	1.413	1.536
(2) Current assets
(a) Current investments	0.060	0.000	0.000
(b) Inventories	7.108	5.671	4.622
(c) Trade receivables	116.515	70.232	37.815
(d) Cash and cash equivalents	2.150	1.992	1.919
(e) Short-term loans and advances	0.077	0.235	1.280
(f) Other current assets	0.004	0.008	0.013
Total Current Assets	125.914	78.138	45.649
TOTAL	131.295	79.551	47.185

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	219.832	103.835	83.413
		Other Income	0.498	0.426	0.056
		TOTAL (A)	220.330	104.261	83.469
Less	EXPENSES
		Cost of Materials Consumed	170.931	87.194	70.927
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.587	0.662	(1.199)
		Other Direct manufacturing Expenses	4.269	0.901	0.927
		Employees benefits expense	4.058	1.567	1.399
		Other expenses	35.660	11.762	9.562
		TOTAL (B)	215.505	102.086	81.616
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.825	2.175	1.853
Less	FINANCIAL EXPENSES (D)		0.747	0.441	0.317
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4.078	1.734	1.536
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.631	0.316	0.379
	PROFIT BEFORE TAX (E-F) (G)		3.447	1.418	1.157
Less	TAX (H)		1.090	0.471	0.397
	PROFIT AFTER TAX (G-H) (I)		2.357	0.947	0.760
	Earnings Per Share (Rs.)		49.62	19.93	15.99

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	300.000

The above information has been parted by Mr. Sanjay Arora (Director)

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 Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.07	0.91	0.91
Operating Profit Margin (PBDIT/Sales)	(%)	2.19	2.09	2.22
Return on Total Assets (PBT/Total Assets}	(%)	2.63	1.78	2.45
Return on Investment (ROI) (PBT/Networth)		0.31	0.13	0.13
Debt Equity Ratio (Total Debt/Networth)		1.64	0.80	0.64
Current Ratio (Current Asset/Current Liability)		1.05	1.14	1.20

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	0.475	0.475	0.475
Reserves & Surplus	7.523	8.469	10.826
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	1.000	2.000	0.000
Net worth	8.998	10.944	11.301
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	5.740	8.701	18.493
Total borrowings	5.740	8.701	18.493
Debt/Equity ratio	0.638	0.795	1.636

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	83.413	103.835	219.832
		24.483	111.713

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	83.413	103.835	219.832
Profit	0.760	0.947	2.357
	0.91%	0.91%	1.07%

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)	No
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 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10266730	29/01/2013 *	5,000,000.00	INDIAN OVERSEAS BANK	VANASTHALI BRANCH, I P EXTENSION, NEW DELHI, DELHI - 110092, INDIA	B68361385
2	10004435	17/03/2006	285,000.00	BHARAT OVERSEAS BANK LIMITED	HS - 31, KAILASH COLONY MARKET, NEW DELHI, NEW DE LHI, DELHI - 110048, INDIA	A00680330

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
From related Parties – Sanjay Arora (Director)	11.712	0.000
From Others	0.000	3.000
Total	11.712	3.000

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from 261, Okhla Industrial Estate, Phase-III, New Delhi-110020, India to the present address w.e.f 01.05.2012

FIXED ASSETS:

Tangible Assets

· Plant and Machinery

· Furniture and Fixtures

· Generator

· Office Equipment

· Computer Printer

· Air Conditioner

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. 64.96
UK Pound	1	Rs. 99.55
Euro	1	Rs. 71.64

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAS
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	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		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.