MIRA INFORM REPORT

Report No. :	339598
Report Date :	07.09.2015

IDENTIFICATION DETAILS

Name :	NIKITA TRANSPHASE ADDUCTS PRIVATE LIMITED
Registered Office :	C/3-26, Samruddhi Co-Op Housing Society, B. Parulekar Marg, Dadar, Mumbai – 400028, Maharashtra
Tel. No.:	91-22-24302271
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.09.1992
Com. Reg. No.:	11-068756
Capital Investment / Paid-up Capital :	Rs.1.067 Million
CIN No.: [Company Identification No.]	U24239MH1992PTC068756
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Rubber chemicals.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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 :	Nikita Transphase Adducts Private Limited was incorporated in the year 1992 and it is an established company having a satisfactory track. The rating on company reflects improved financial and operational risk profile by growing scale of its operations and capital structure, negligible debt and comfortable debt protection metrics. Trade relations are fair. Business is active. Payment terms are reported as usually 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Bhupesh
Designation :	Finance Executive
Contact No.:	91-22-24302271
Date :	05.09.2015

LOCATIONS

Registered Office :	C/3-26, Samruddhi Co-Op Housing Society, B. Parulekar Marg, Dadar, Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-24302271
Fax No.:	91-22-24323647
E-Mail :	info@ntapl.com
Website :	www.ntapl.com
Factory :	T – 96, M.I.D.C. Area, Tarapur, Boisar – 401506, Maharashtra, India
Tel. No.:	91-2525-270594

DIRECTORS

As on 29.09.2014

Name :

Mr. Vijay Purushottam Pednekar

Designation :

Director

Address :

A 111/112, Purshottam Towers Co-Op Society, Off Gokhale Road, Dadar, Mumbai - 400028, Maharashtra, India

Date of Birth/Age :

02.06.1947

Date of Appointment :

28.09.1992

DIN No.:

00206544

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	U24239MH1992PTC068756	NIKITA TRANSPHASE ADDUCTS PVT LTD	Director	29/09/1992	29/09/1992	-	Active	NO
2	U24100MH2005PTC150388	NUVIS ADDITIVES PRIVATE LIMITED	Director	02/11/2005	02/11/2005	-	Amalgamated	NO
3	U24231MH2012PTC228355	SVAN CHEMICALS PRIVATE LIMITED	Director	17/03/2012	17/03/2012	-	Active	NO
4	U27100MH1985PTC036973	CENTURY ALLOY STEELS PVT LTD	Director	21/01/2015	21/01/2015	-	Converted to LLP	NO
5	AAE-3858	CENTURY ALLOY STEELS LLP	Designated Partner	15/07/2015	15/07/2015	-	Active	NO

Name :

Mr. Nikhil Vijay Pednekar

Designation :

Director

Address :

A 111/112, Purshottam Towers Co-Op Society, Off Gokhale Road, Dadar, Mumbai - 400028, Maharashtra, India

Date of Birth/Age :

17.01.1974

Date of Appointment :

16.08.1995

DIN No.:

00206746

KEY EXECUTIVES

Name :	Mr. Bhupesh
Designation :	Finance Executive

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares	%age holding
Vijay Purushottam Pednekar	5996	56.78
Nikhil Vijay Pednekar	2026	19.19
Urmila Vijay Pednekar	2538	24.03
Total	10560	100.00

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	98.97
Others	1.03
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Rubber chemicals.
Products :	Rubber Chemicals
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Rubber Chemicals
Countries :	USA Belgium South Africa New Zealand
Imports :
Products :	Raw Material
Countries :	Spain
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

• BIC Chemicals and Packaging Private Limited
• ESBE- Chem Products
• Indus Chemicals
• Kamani Oil Industries
• Ketul Chem. Pirate Limited
• Khanna and Khanna Limited

Customers :

Wholesalers and Retailers

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

• Apcotex Industries Limited
• Ascot International
• Ashok Alco Chem. Limited
• Asma Rubber Products
• Beekay Finochem Private Limited
• Cupid Limited
• Dipsi Chemicals Private Limited

No. of Employees :

20 (Approximately)

Bankers :

Banker Name	Bank of Baroda
Branch Address	Prabhadevi Branch, 1,2,6 & 7, Kamana CHS, S. K. Bole Road, Dadar (West), Mumbai - 400028, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-24227381 (Continuously Ringing)
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

• HDFC Bank Limited, Prabhadevi Branch, Dadar, Mumbai, Maharashtra, India

Tel. No.: 91-22-30751912 (Continuously Ringing)

Auditors :
Name :	Raman S. Shah and Associates Chartered Accountants
Address :	Sam Plaza, A Wing, 2nd Floor, Irani Wadi, Dahanu Road (West), Thane – 401602, Maharashtra, India
PAN No.:	AAKFR3592C
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- each	Rs.2.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10670	Equity Shares	Rs.100/- each	Rs.1.067 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	1.067	1.067	1.067
(b) Reserves & Surplus	41.211	33.962	29.537
(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)	42.278	35.029	30.604
(3) Non-Current Liabilities
(a) long-term borrowings	0.638	0.912	3.793
(b) Deferred tax liabilities (Net)	0.417	0.576	0.478
(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)	1.055	1.488	4.271
(4) Current Liabilities
(a) Short term borrowings	0.974	0.289	0.288
(b) Trade payables	25.102	16.338	14.672
(c) Other current liabilities	7.662	5.046	0.077
(d) Short-term provisions	5.375	1.944	5.152
Total Current Liabilities (4)	39.113	23.617	20.189
TOTAL	82.446	60.134	55.064
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	19.990	20.860	16.482
(ii) Intangible Assets	0.000	0.000	0.005
(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	10.492	6.063	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.049	0.121	6.020
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	30.531	27.044	22.507
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4.183	2.851	5.227
(c) Trade receivables	28.486	18.281	17.953
(d) Cash and cash equivalents	11.494	8.670	8.274
(e) Short-term loans and advances	7.506	2.978	1.039
(f) Other current assets	0.246	0.310	0.064
Total Current Assets	51.915	33.090	32.557
TOTAL	82.446	60.134	55.064

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income			NA
	Other Income			NA
	TOTAL	173.134	130.966	NA
Less	EXPENSES	162.613	124.359	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	10.521	6.607	10.427
		Including	Including
Less/ Add	DEPRECIATION/ AMORTISATION	Depreciation Expenses	Depreciation Expenses	1.999
	PROFIT/ (LOSS) BEFORE TAX	10.521	6.607	8.428
Less	TAX	3.273	2.042	2.605
	PROFIT/ (LOSS) AFTER TAX	7.248	4.565	5.823
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	33.962	29.536	23.713
Less	APPROPRIATIONS
	Other Appropriations	NA	0.139	NA
	Total	NA	0.139	NA
	Balance Carried to the B/S	41.210	33.962	29.536
	Earnings / (Loss) Per Share (Rs.)	679.28	427.83	545.73

Particulars	31.03.2015
Sales Turnover (Approximately)	200.000

Expected Sales (2015-16): Rs.250.000 Million

The above information has been parted by Mr. Bhupesh (Finance Executive).

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	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	14.62	12.22	15.31
Return on Investment (ROI) (PBT/Networth)		0.25	0.19	0.28
Debt Equity Ratio (Total Debt/Networth)		0.04	0.03	0.13
Current Ratio (Current Asset/Current Liability)		1.33	1.40	1.61

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	1.067	1.067	1.067
Reserves & Surplus	29.537	33.962	41.211
Net worth	30.604	35.029	42.278
long-term borrowings	3.793	0.912	0.638
Short term borrowings	0.288	0.289	0.974
Total borrowings	4.081	1.201	1.612
Debt/Equity ratio	0.133	0.034	0.038

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	130.966	173.134
		32.198

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	130.966	173.134
Profit	4.565	7.248
	3.49%	4.19%

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	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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90353065	19/04/2012 *	7,000,000.00	BANK OF BARODA	PRABHADEVI BRANCH, 1,2,6 & 7, KAMANA CHS,S. K.BOLE ROAD, DADAR (WEST), MUMBAI - 40  0028, MAHARASHTRA, INDIA	B38957882

* Date of charge modification

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.66.40
UK Pound	1	Rs.101.19
Euro	1	Rs.73.89

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KYP
Report Prepared by :	PNM

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	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		44

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.