MIRA INFORM REPORT

Report No. :	341529
Report Date :	21.09.2015

IDENTIFICATION DETAILS

Name :	IMPULSE OVERSEAS PRIVATE LIMITED (w.e.f. 17.01.2007)
Formerly Known As :	NEXT TRADING INDIA PRIVATE LIMITED
Registered Office :	M-70, Greater Kailash-1, New Delhi-110048, Delhi
Tel. No.:	91-124-4026200, 4026300
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.09.2005
Com. Reg. No.:	55-141144
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U51909DL2005PTC141144
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 :	Supplier of Apparel/Garments Accessories.
No. of Employees :	Information declined by the management

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

Maximum Credit Limit :	USD 280000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a Delhi based company incorporated on 26^th September, 2005. It has satisfactory track record. The company is operating on its owned funds. Further, it possesses a decent profile marked by decent networth base along with ample liquidity and profitability. Trade relations are fair. Business is active. Payment terms are reported to be 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.

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 DENIED

Management non-cooperative (91-124-4026200/4026300)

LOCATIONS

Registered Office :	M-70, Greater Kailash-1, New Delhi-110048, Delhi, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sanjay.gupta@impulse.co.in
Head office :	Impulse Corporate Tower Institutional Area, Sector-32, Gurgaon – 122001, Haryana, India

DIRECTORS

As on 29.09.2014

Name :

Mr. Rajive Suri

Designation :

Director

Address :

S 23/18 and 19 DLF Qutab Enclave, Phase 3, Gurgaon-122002, Haryana, India

Date of Birth/Age :

20.07.1954

Date of Appointment :

26.09.2005

DIN No.:

00322725

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	U74899DL1982PTC014849	IMPULSE (INDIA) PRIVATE LIMITED	Managing director	17/12/1982	17/12/1982	-	Active	NO
2	U74899DL1984PTC019670	IMPULSE HOLDINGS PVT. LTD.	Director	22/12/1984	22/12/1984	-	Active	NO
3	U74899DL1996PTC078334	IMPULSE INTERNATIONAL PRIVATE LIMITED	Director	22/04/1996	22/04/1996	-	Active	NO
4	U19116DL1997PTC084983	IMPULSE ASIA PRIVATE LIMITED	Managing director	06/02/1997	06/02/1997	-	Active	NO
5	U74899DL1997PTC086335	IMPULSE FOODS PRIVATE LIMITED	Managing director	01/04/1997	01/04/1997	-	Active	NO
6	U51909DL2005PTC141144	IMPULSE OVERSEAS PRIVATE LIMITED	Director	26/09/2005	26/09/2005	-	Active	NO

Name :

Mrs. Jyotsna Suri

Designation :

Director

Address :

S 23/18 and 19 DLF Qutab Enclave, Phase 3, Gurgaon-122002, Haryana, India

Date of Birth/Age :

12.04.1959

Date of Appointment :

26.09.2005

DIN No.:

00322776

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	U74899DL1982PTC014849	IMPULSE (INDIA) PRIVATE LIMITED	Director	17/12/1982	17/12/1982	-	Active	NO
2	U74899DL1984PTC019670	IMPULSE HOLDINGS PVT. LTD.	Managing director	22/12/1984	22/12/1984	-	Active	NO
3	U74899DL1996PTC078334	IMPULSE INTERNATIONAL PRIVATE LIMITED	Director	01/02/2013	22/04/1996	-	Active	NO
4	U19116DL1997PTC084983	IMPULSE ASIA PRIVATE LIMITED	Director	06/02/1997	06/02/1997	-	Active	NO
5	U74899DL1997PTC086335	IMPULSE FOODS PRIVATE LIMITED	Director	01/04/1997	01/04/1997	-	Active	NO
6	U51909DL2005PTC141144	IMPULSE OVERSEAS PRIVATE LIMITED	Director	26/09/2005	26/09/2005	-	Active	NO

Name :

Mr. Nikhil Suri

Designation :

Director

Address :

S 23/18 and 19 DLF Qutab Enclave, Phase 3, Gurgaon-122002, Haryana, India

Date of Birth/Age :

04.07.1984

Date of Appointment :

01.04.2010

DIN No.:

03378701

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	U74899DL1996PTC078334	IMPULSE INTERNATIONAL PRIVATE LIMITED	Director	01/04/2010	01/04/2010	-	Active	NO
2	U51909DL2005PTC141144	IMPULSE OVERSEAS PRIVATE LIMITED	Director	01/04/2010	01/04/2010	-	Active	NO
3	U74899DL1982PTC014849	IMPULSE (INDIA) PRIVATE LIMITED	Director	01/04/2010	01/04/2010	-	Active	NO

Name :

Mr. Siddharth Suri

Designation :

Director

Address :

S 23/18 and 19 DLF Qutab Enclave, Phase 3, Gurgaon-122002, Haryana, India

Date of Birth/Age :

03.12.1985

Date of Appointment :

01.04.2010

DIN No.:

03378708

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	U51909DL2005PTC141144	IMPULSE OVERSEAS PRIVATE LIMITED	Director	01/08/2012	01/04/2010	-	Active	NO
2	U74899DL1996PTC078334	IMPULSE INTERNATIONAL PRIVATE LIMITED	Director	01/08/2012	01/04/2010	-	Active	NO
3	U74899DL1982PTC014849	IMPULSE (INDIA) PRIVATE LIMITED	Additional director	01/08/2014	01/04/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares
Jyotsna Suri	27300
Sunil Arora	20000
Rajiv Suri	27700
Nikhil Suri	12500
Siddharth Suri	12500
Total	100000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Supplier of Apparel/Garments Accessories.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

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

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
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 :	V.K. Bajaj and Company Chartered Accountants
Address :	M-70, Greater Kailash-1, New Delhi-110048, Delhi, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFV2716J
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
950000	Equity Shares	Rs.10/- each	Rs. 9.500 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	1.000
(b) Reserves & Surplus	96.471	81.949	71.731
(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)	97.471	82.949	72.731
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.238
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	5.495	6.488	6.574
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	5.495	6.488	6.812
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	4.209	20.690	0.408
(c) Other current liabilities	39.058	30.714	52.338
(d) Short-term provisions	1.665	0.025	0.032
Total Current Liabilities (4)	44.932	51.429	52.778
TOTAL	147.898	140.866	132.321
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.261	7.894	10.085
(ii) Intangible Assets	0.175	0.013	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.124	0.124	0.124
(b) Non-current Investments	0.000	0.000	5.000
(c) Deferred tax assets (net)	2.607	2.238	2.430
(d) Long-term Loan and Advances	11.355	11.811	13.405
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	21.522	22.080	31.044
(2) Current assets
(a) Current investments	48.478	20.198	49.506
(b) Inventories	4.711	3.439	1.095
(c) Trade receivables	60.857	70.163	37.555
(d) Cash and cash equivalents	0.687	6.159	0.098
(e) Short-term loans and advances	11.643	18.827	13.023
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	126.376	118.786	101.277
TOTAL	147.898	140.866	132.321

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	176.905	248.141	115.852
Less	EXPENSES		156.525	232.098	113.197
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		20.380	16.043	2.655
Less/ Add	DEPRECIATION/ AMORTISATION		1.239	1.612	2.014
	PROFIT BEFORE TAX		19.141	14.431	0.641
Less	TAX		4.619	4.212	(0.051)
	PROFIT AFTER TAX		14.522	10.219	0.692
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		81.949	71.730	71.038
	BALANCE CARRIED TO THE B/S		96.471	81.949	71.730
	Earnings Per Share (Rs.)		145.22	102.19	6.92

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	0.376
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	8.21	4.12	0.60
Return on Total Assets (PBT/Total Assets}	(%)	13.19	10.42	0.51
Return on Investment (ROI) (PBT/Networth)		0.20	0.17	0.01
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.01
Current Ratio (Current Asset/Current Liability)		2.81	2.31	1.92

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	1.000	1.000	1.000
Reserves & Surplus	71.731	81.949	96.471
Net worth	72.731	82.949	97.471
long-term borrowings	0.238	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long-Term Debts	0.376	0.000	0.000
Total borrowings	0.614	0.000	0.000
Debt/Equity ratio	0.008	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)
Total Income	115.852	248.141	176.905
		114.188	(28.708)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	115.852	248.141	176.905
Profit	0.692	10.219	14.522
	0.60%	4.12%	8.21%

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	No
8]	Designation of contact person	No
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	No
17]	Details of sister concerns	No
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	No
21]	Banking facility details	No
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	No
35]	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from B-12, Nizamuddin West, New Delhi-110013, Delhi, India to the present address w.e.f. 03.01.2011

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Office Building
• Furniture & Fixtures
• Computer
• Office Equipment

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.65.92
UK Pound	1	Rs.102.75
Euro	1	Rs.75.12

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	RSM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

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

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.