MIRA INFORM REPORT

Report No. :	339227.2
Report Date :	09.09.2015

IDENTIFICATION DETAILS

Name :	INTERNATIONAL MARKETING ASSOCIATES
Registered Office :	303, Richa, Lane Opposite Citi Mall, Off. Link Road, Andheri-(West), Mumbai-400053, Maharashtra
Tel. No.:	91-22-26731802
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	May, 1988
Capital Investment :	Rs. 0.930 Million
IEC No.:	0395067308
TIN No.:	27630291523 V
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABPJ5739Q
Legal Form :	Sole Proprietary Concern
Line of Business :	Importer of Selective Adsorbent Pure Flo Select 350, Europhtal Sweetening Catalyst, Newton’s Drying Technology.
No. of Employees :	6 (Approximately) (There are 3 Technical representatives based at Kolkata, Chennai and Bangalore who provide technical assistance)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 3000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an old proprietary concern established in the year 1988, having satisfactory track record. Concern has achieved fair profit margin leading to overall decent financial condition in FY14. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of long track of its operations and experienced management, the concern can be considered for business dealings with 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. Parveen Jethi
Designation :	Proprietor
Contact No.:	91-9820050623
Date :	01.09.2015

LOCATIONS

Registered Office :	303, Richa, Lane Opposite Citi Mall, Off. Link Road, Andheri-(West), Mumbai-400053, Maharashtra, India
Tel. No.:	91-22-26731802
Mob. No:	91-9820050623/ 9930202872 (Mr. Parveen Jethi)
Fax No.:	91-22-26731317
E-Mail :	jethi1@vsnl.com ima@mtnl.net.in jethi.parveen@gmail.com
Website :	http://internationalmarketingassociates.com
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Parveen Jethi
Designation :	Proprietor
Address :	A/13, Juhu Blue Sea Apartment, 33-A, Juhu Tara Road, Santacruz West, Mumbai-400049, Maharashtra, India
Date of Birth/Age :	66 Years
Qualification :	M. B. A B. Sc. Engg
Experience :	43 Years

BUSINESS DETAILS

Line of Business :	Importer of Selective Adsorbent Pure Flo Select 350, Europhtal Sweetening Catalyst, Newton’s Drying Technology.
Products/ Services :	· Selective Adsorbent Pure Flo Select 350 · Europhtal Sweetening Catalyst · Newton’s Drying Technology
Brand Names :	--
Agencies Held :	· Oil Dri Corporation of America, USA · Quadrimex, France
Exports :
Products :	--
Countries :	--
Imports :
Products :	Selective Adsorbent Select-350 Newton Drying Technology
Countries :	· USA · France
Terms :
Selling :	Credit (30 days and 60 days)
Purchasing :	Credit (120 days)

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

· Puneet Agency Private limited

· City Warehouse

· Mahesh Hinduja

· Ketan Wraehousing Corporation

Customers :

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

· Kaleesuwary Refinery Private Limited

· Laxmi Mills

· Bunge India Private Limited

No. of Employees :

6 (Approximately) (There are 3 Technical representatives based at Kolkata, Chennai and Bangalore who provide technical assistance)

Bankers :

Bank Name:	The Hongkong and Shanghai Banking Corporation
Branch:	JVPD Scheme, Juhu, Mumbai-400049, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Applicable (Since they do business with their own business)
Account Operation:	Not Divulged
Remarks: Not Divulged

· IDBI Bank Limited

Link Road, Andheri West, Mumbai-400053, Maharashtra, India

· Kotak Mahindra Bank Limited

Facilities :

--

Banking Relations :	--
Auditors :
Name :	B N Rachh and Company Chartered Accountants
Address :	6, Trimurti Krupa, Ram Mandir Road, Vile Parle East, Mumbai-400057, Maharashtra, India
Tel. No.:	91-22-26162450
Mobile No.:	91-9322251500
Fax No.:	91-22-26162455
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs. 0.930 Million
Borrowed :	--
Total :	Rs. 0.930 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Capital Account		0.930	1.002	3.797
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.930	1.002	3.797
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.930	1.002	3.797
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.297	0.357	0.407
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.245	2.505	1.402
	Sundry Debtors	3.039	1.754	0.286
	Cash & Bank Balances	1.723	2.280	2.218
	Other Current Assets (Deposits)	0.736	0.720	0.699
	Loans & Advances	0.178	0.399	1.390
Advance for Residential Premises		0.000	0.000	3.776
Total Current Assets		6.921	7.658	9.771
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.016	6.496	5.980
	Other Current Liabilities	0.272	0.162	0.223
	Provision for Income Tax	0.000	0.355	0.178
Total Current Liabilities		6.288	7.013	6.381
Net Current Assets
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.930	1.002	3.797

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	12.602	13.369	16.752
		Other Income	1.128	1.826	0.564
		TOTAL	13.730	15.241	17.316
Less	EXPENSES
		Cost of Sold	8.825	8.172	9.562
		Accounting Charges	0.025	0.025	0.035
		Audit Fees	0.020	0.020	0.020
		Advertisement	0.000	0.000	0.000
		Bank Charges	0.025	0.035	0.037
		Book and Periodicals	0.052	0.051	0.047
		Business Promotion	0.008	0.040	0.000
		Cable Charges	0.012	0.017	0.012
		Car Insurance	0.015	0.000	0.000
		Club Membership	0.061	0.013	0.000
		Commission paid	0.000	0.000	0.011
		Conveyance Expenses	0.127	0.133	0.126
		Car Hire Charges	0.000	0.090	0.000
		CST Paid	0.000	0.000	0.344
		Courier Charges	0.031	0.032	0.035
		Data Collection Expenses	0.003	0.003	0.000
		Donation	0.010	0.012	0.023
		Electricity Expenses	0.086	0.070	0.096
		Employer’s Profession Tax	0.003	0.003	0.003
		Entertainment Expenses	0.040	0.060	0.072
		Foreign Exchange loss	0.269	0.000	0.000
		Foreign Travelling Expenses	0.341	0.324	0.000
		Exchange Difference	0.000	0.206	0.408
		Insurance Expenses	0.003	0.013	0.020
		Miscellaneous Expenses	0.004	0.011	0.110
		Membership and Subscription	0.000	0.008	0.038
		Motor Car Expenses	0.000	0.000	0.236
		Office Expenses	0.017	0.009	0.000
		Printing and Stationery	0.042	0.047	0.057
		Petrol Expenses	0.183	0.190	0.000
		Professional Fees	0.040	0.031	0.022
		Rent Paid	0.300	0.300	0.300
		Repair Machinery	0.028	0.020	0.000
		Repairs and Maintanance	0.004	0.000	0.044
		Staff cost	1.003	1.046	0.970
		Sales Promotion Expenses	0.000	0.119	0.119
		Telephone Expenses	0.072	0.092	0.082
		Vehicle Expenses	0.008	0.057	0.000
		Transport Charges	0.000	0.000	0.048
		Travelling Expenses	0.134	0.185	0.277
		VAT Expenses	0.003	0.000	0.000
		Vat Audit Fees	0.028	0.022	0.022
		Customs Duty Paid	0.567	0.941	0.885
		Clearing Expenses	0.369	0.469	0.444
		Warehousing Charges	0.000	0.000	0.112
		Membership Fees	0.000	0.014	0.000
		Repair Computer	0.000	0.012	0.000
		Seminar Expenses	0.000	0.024	0.000
		TOTAL	12.758	12.916	14.617
	NET PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		0.972	2.325	2.699
Less	DEPRECIATION/ AMORTISATION		0.059	0.067	0.076
	PROFIT/ (LOSS) BEFORE TAX		0.913	2.258	2.623
Less	TAX		0.353	0.717	0.691
	PROFIT/ (LOSS) AFTER TAX		0.560	1.541	1.932

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.44	11.18	11.53
Return on Total Assets (PBT/Total Assets}	(%)	12.65	27.60	25.77
Return on Investment (ROI) (PBT/Networth)		0.98	2.21	0.69
Debt Equity Ratio (Total Liability/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.10	1.09	1.53

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	3.797	1.002	0.930
Reserves & Surplus	0.000	0.000	0.000
Net worth	3.797	1.002	0.930
Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	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	16.752	13.369	12.602
		_(20.195)	(5.737)

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	16.752	13.369	12.602
Profit	1.932	1.495	0.560
	11.53%	11.18%	4.44%

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	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
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

TRADE REFERENCES

· Reliance Industries Limited

· Adani Wilmar Limited

· Kamani Oil Industries

ABRIDGED BALANCE SHEET

MR. P. K. JETHI

(Proprietor)

SOURCES OF FUNDS		31.03.2014
SHAREHOLDERS FUNDS
1] Capital Account		24.022
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		24.022
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		24.022
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.663
Capital work-in-progress		0.000
INVESTMENT		3.553
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	1.347
	Other Current Assets	4.720
	Loans & Advances and Deposits	9.739
Advance for Residential Premises		0.000
Total Current Assets		15.806
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provision for Income Tax	0.000
Total Current Liabilities		0.000
Net Current Assets
MISCELLANEOUS EXPENSES		0.000
TOTAL		24.022

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 records 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. 66.61
UK Pound	1	Rs. 102.30
Euro	1	Rs. 74.61

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KIN
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--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		42

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.