MIRA INFORM REPORT

Report No. :	339963
Report Date :	08.09.2015

IDENTIFICATION DETAILS

Name :	NEXUS PETROCHEM PRIVATE LIMITED

Registered Office :	A/402, Heritage Plaza, Telli Galli, Cross Lane, R. S. Maharaj Marg, Andheri (East), Mumbai – 400069, Maharashtra
Tel. No.:	91-22-26825370 / 71 / 72

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	18.10.2010

Com. Reg. No.:	11-209085

Capital Investment / Paid-up Capital :	Rs.1.000Million

CIN No.: [Company Identification No.]	U74900MH2010PTC209085

IEC No.:	0311023100

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AADCN4541R

Legal Form :	Private Limited Liability Company

Line of Business :	Trader, Importer and Supplier of Chemicals, Plastic Raw Material and Allied Products.

No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The company possesses moderate operational performance and it has reported low profit margins its operational activities. Rating further constrained on account of company’s moderate financial risk profile marked by modest net worth along with huge borrowing and leverage balance sheet profile of the company. However, trade relations are reported as fair. Payments are reported as fair. Payments are reported to be slow but correct. In view of leverage balance sheet profile, the company can be considered for business dealing 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

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Nilesh Karwat
Designation :	Chief Executive Officer
Contact No.:	91-22-26825370
Date :	05.09.2015

LOCATIONS

Registered Office :	A/402, Heritage Plaza, Telli Galli, Cross Lane, R. S. Maharaj Marg, Andheri (East), Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-26825370 / 71 / 72
Fax No.:	91-22-26825830
E-Mail :	info@nexuspetrochem.com nwalia@bom3.vsnl.net.in amittrivedics@gmail.com nandan.ralia@nvaliagroup.com
Website :	www.nexuspetrochem.com http://www.nvaliagroup.com
Location :	Owned
Locality :	Commercial

Warehouse :	Gala No. 3, Modi Compound, Opp. Purna Police Station, Next to Patel Roadways, Purha Village, Bhiwandi – 421302, Maharashtra, India

DIRECTORS

As on 30.09.2014

Name :	Mr. Nandan Himatlal Valia
Designation :	Director
Address :	54, Presidency Society,7th Road, JVPD Scheme, Parle (West), Mumbai – 400049, Maharashtra, India
Date of Birth/Age :	24.05.1974
Date of Appointment :	18.10.2010
DIN No.:	03135330

Name :	Mrs. Hetal Nandan Valia
Designation :	Director
Address :	54, Presidency Society,7th Road, JVPD Scheme, Parle (West), Mumbai – 400049, Maharashtra, India
Date of Birth/Age :	17.08.1974
Date of Appointment :	18.10.2010
DIN No.:	03187031

KEY EXECUTIVES

Name :	Mr. Nilesh Karwat
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Nandan Valia	90000	90.00
Hetal Valia	10000	10.00
Total	100000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Importer and Supplier of Chemicals, Plastic Raw Material and Allied Products.

Products :

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :
Products :	Chemicals, Plastic Raw Material
Countries :	France Singapore Germany

Terms :
Selling :	Cash, L/C, Cheque and Credit

Purchasing :	Cash, L/C, Cheque 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 :

3D Technopack Limited
Aadit Enterprises
Aditya Industries
Anchor Enterprises Private Limited
Ang Plastics Private Limited
Bombay Chlorides Private Limited
Brakes India Limited
Dazzle Dynacoated Private Limited
Gales India Private Limited
Drip India Irrigation Private Limited
Finolex Industries Limited
Fibro Industries
Harsh Enterprises
GLS Polymers
GNA Udyog Limited
J S Enterprise
Polycab Wires Private Limited
Rajshree Pipes Private Limited
Victory Exim Private Limited

No. of Employees :

15 (Approximately)

Bankers :

Bank Name	Yes Bank
Branch	9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, 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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Working Capital Facilities from Yes Bank	13.704	10.089
Total	13.704	10.089
Note : Working capital Facilities from Bank are secured on part pasu basis, by way of hypothecation on inventories and book debts, both present and future. These are further secured by way of first charge on company’s immovable and movable properties save and free hold land at Mumbai

Auditors :
Name :	M M Nishin and Company Chartered Accountants
Address :	Barodawala Mansion, B – Wing, 3^rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra, India
Tel. No.:	91-24949991
Fax No.:	91-24949995
E-Mail :	mail@mmnissim.com
Website	www.mmnissim.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFM5103E

Memberships :	Not Available

Collaborators :	Not Available

Other Related Parties :	Associates Brothers Ishaplast Impex Private Limited Nexus Pertochem

CAPITAL STRUCTURE

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	0.100
(b) Reserves & Surplus	5.958	2.715	0.195
(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)	6.958	3.715	0.295

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.010	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.390	0.000	0.000
Total Non-current Liabilities (3)	1.400	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	39.029	30.616	0.622
(b) Trade payables	33.407	43.963	15.804
(c) Other current liabilities	1.085	1.603	0.288
(d) Short-term provisions	1.372	1.372	0.090
Total Current Liabilities (4)	74.893	77.554	16.804

TOTAL	83.251	81.269	17.099

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.055	0.000	0.000
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.561	0.989	0.001
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1.616	0.989	0.001

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	27.881	31.307	8.937
(c) Trade receivables	43.093	43.057	5.904
(d) Cash and cash equivalents	3.979	2.816	1.832
(e) Short-term loans and advances	6.682	3.100	0.425
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	81.634	80.280	17.098

TOTAL	83.251	81.269	17.099

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	360.336	350.310	11.194
	Other Income	7.262	5.874	0.038
	TOTAL (A)	367.598	356.184	11.232

Less	EXPENSES
	Purchases of Stock-in-Trade	342.569	359.012	19.181
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	3.426	(22.370)	(8.937)
	Employees benefits expense	2.528	1.719	0.000
	Other expenses	8.007	8.003	0.058
	TOTAL (B)	356.530	346.364	10.302

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	11.068	9.820	0.930

Less	FINANCIAL EXPENSES (D)	6.425	6.019	0.633

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	4.643	3.801	0.297

Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.000	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	4.643	3.801	0.297

Less	TAX (H)	1.400	1.282	0.090

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	3.243	2.519	0.207

	IMPORTS
	Raw Materials	3.688	30.141	15.061
	TOTAL IMPORTS	3.688	30.141	15.061

	Earnings / (Loss) Per Share (Rs.)	324.3	251.99	206.56

Particulars

31.03.2015

Sales Turnover

450.000

The above information has been parted by Mr. Nilesh Karwat (Chief Executive Officer)

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 operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.90	0.72	1.85

Operating Profit Margin (PBIDT/Sales)	(%)	3.07	2.80	8.31

Return on Total Assets (PBT/Total Assets}	(%)	5.58	4.68	1.74

Return on Investment (ROI) (PBT/Networth)		0.67	1.02	1.01

Debt Equity Ratio (Total Debt /Networth)		5.61	8.24	2.11

Current Ratio (Current Asset/Current Liability)		1.09	1.04	1.02

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	1.000	1.000
Reserves & Surplus	0.195	2.715	5.958
Net worth	0.295	3.715	6.958

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.622	30.616	39.029
Total borrowings	0.622	30.616	39.029
Debt/Equity ratio	2.108	8.241	5.609

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	11.194	350.310	360.336
		3,029.444	2.862

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	11.194	350.310	360.336
Profit	0.207	2.519	3.243
	1.85%	0.72%	0.90%

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	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	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

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and Advances from related parties	25.325	20.527
Total	25.325	20.527

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10337675	09/10/2013 *	55,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	B87793097

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.66.74
UK Pound	1	Rs.101.36
Euro	1	RS.74.27

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	KAR

Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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		30

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.

MIRA INFORM REPORT

INDEX OF CHARGES

Unit