MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	503111
Report Date :	17.04.2018

IDENTIFICATION DETAILS

Name :	PRIMEX PLASTICS PRIVATE LIMITED

Registered Office :	Survey No.48/1, 1st Cross, 8th Main SLV Industrial Estate, Karivobanahalli, Peenya 2^nd, Bangalore-560058, Karnataka
Tel. No.:	91-80-28360779

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	07.12.1990

Com. Reg. No.:	08-011461

Capital Investment / Paid-up Capital :	INR 1.873 Million

CIN No.: [Company Identification No.]	U25206KA1990PTC011461

IEC No.: [Import-Export Code No.]	Not Divulged

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

TIN No.:	29670048580

GSTN : [Goods & Service Tax Registration No.]	29AAECP1276G1ZB

PAN No.: [Permanent Account No.]	AAECP1276G

Legal Form :	Private Limited Liability Company

Line of Business :	The company is engaged in Manufacture of injection moulded industrial components of plastics, moulds and related activities. (Registered activity)

No. of Employees :	Information declined by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 130000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject was incorporated in the year 1990. The company is engaged in manufacturing of injection moulded plastic components. The subject’s customers include- L&T, ABB, Schneider Electric, Wipro, General Electric, AO Smith, Toyota Gosei, IFB, etc. As per the financial of 2017, the company has achieved a favourable growth of 14.33% in its revenue as compared to the previous year’s revenue and has reported a low net profit margin of 0.56%. The company possesses satisfactory financial position marked by adequate net worth base along with comfortable debt balance sheet profile and fair liquidity position. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 16.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED

MANAGEMENT NON-COOPERATIVE: 91-80-8360779

Tel. No.: 91-80-26683113 – Wrong Number

LOCATIONS

Registered Office :	Survey No.48/1, 1st Cross, 8th Main SLV Industrial Estate, Karivobanahalli, Peenya 2^nd, Bangalore-560058, Karnataka, India
Tel. No.:	91-80-28360779/ 26683113
Fax No.:	91-80-28361774
E-Mail :	primexplast@gmail.com
Website :	http://www.primexplast.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Kamal Neel

Designation :

Wholetime Director

Address :

258 17th Cross, Sadashiva Nagar, Bangalore-560080, Karnataka, India

Date of Birth/Age :

09.07.1965

Date of Appointment :

04.02.2000

DIN No.:

00505413

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27209KA2000PTC026338	PRIMEX PRESSCOMP PRIVATE LIMITED	04/02/2000	-

Name :

Mr. Pradeep Sethi

Designation :

Wholetime Director

Address :

60 3rd A Main 3rd Cross Bilekalli Dollars 2nd Stage Btm , Bangalore 560076, Karnataka, India

Date of Birth/Age :

07.12.1964

Date of Appointment :

04.02.2000

DIN No.:

00505460

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27209KA2000PTC026338	PRIMEX PRESSCOMP PRIVATE LIMITED	04/02/2000	-

Name :

Tontesh Virupaxappa Manvi

Designation :

Director

Address :

Anand Bhavan Gadag – 582103, Karnataka, India

Date of Appointment :

29.01.2018

DIN No.:

01652867

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17111KA1901PLC000874	KRITAPUR PRESSING AND GINNING COMPANY LIMITED	29/09/2010	-
U51101KA1901PTC000872	GADAG GINNING AND TRADING COMPANY PRIVATE LIMITED	24/04/2014	-

Name :

Gubbi Rajashekarappa Mahesh

Designation :

Director

Address :

No. 418, Health Layout, Srigangadadakavalu, 60ft Road, Bangalore – 560091, Karnataka, India

Date of Appointment :

29.01.2018

DIN No.:

03514692

Name :

Karthik Manvi Tontesh

Designation :

Director

Address :

Mulgund Road II, Cross Hudco Colony, Gadag - 582103, Karnataka, India

Date of Appointment :

29.01.2018

DIN No.:

06823034

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U34300KA1996PTC020533	AUTO IND FORGINGS(INDIA) PRIVATE LIMITED	10/11/2014	-

Name :

Mrs. Meghana Mahesh

Designation :

Director

Address :

# 418, Gosala, 60 Feet Road, Health Layout, Annapoorneshwari Nagar, Nagarabhavi, Bangalore - 560091, Karnataka, India

Date of Appointment :

29.01.2018

DIN No.:

08020524

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares	%age
Kamal Neel	5993	32.00
Pradeep Sethi	5993	32.00
Vishal Sethi	3372	18.00
Inder Neel	3372	18.00
Total	18730	100.00

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in Manufacture of injection moulded industrial components of plastics, moulds and related activities. (Registered activity)

Products :

Item Code No.	Product Description
222	Manufacture of injection moulded industrial components of plastics, moulds and related activities

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Apex Techno Polymer Private Limited
A Raymond Fastners India Private Limited
Autoliv India Private Limited
AFM Plastic Industries
Basell Polyolefines India Private Limited
Breaks India Limited
Brighton Synthetics Private Limited
Chakrapani Vyapar Private Limited
Chowdhry Rubber and Chemicals Private Limited
Centum Electrinics Limited
Formulated Polymers Limited
Diwan Mundhra Bros Private Limited
Fastners and Industrial Components
Fine Tools (India) Private Limited
G LS Polymers Private Limited
Gujarat Petro Synthesis Limited
IMCD Group BV
IMCD India Private Limited
Inabata India Private Limited
Jainex Limited
JP Polymers Private Limited
Jyothi Polymers Private Limited
Kashi Precision Components
Kamalesh Polymers Private Limited
Kanvas Engineering Industries
Micro Plastics
Bansali Engineering Polymers Limited
Mysore Tube Suppliers
Nanjundeshwara Springs
Next Polymers Limited
NIFCO India Private Limited
Nitto Denko India Private Limited
Petralene Products Private Limited
Pennar Industries Limited
Polyone Ploymers India Private Limited

Reference :	Lakshmi Steel Shopee
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Adient India Private Limited
Accurate Seating Systems
A O Smith India Water Heating Private Limited
Autoliv India Private Limited – Bangalore
Autoliv India Private Limited – Chennai
Cube Furniture
Excel Metal Engineering Private Limited
Futhura
Gayathri Associates
GE India Industrial Private Limited
Highness Interior Solutions
IFB Industries Limited
In Motion US LLC
Johnson Controls Automative Limited
Johnson Electric Private Limited
Jon Vincent Jakovich
Lakshmi Tools and Components
Nikeya Agencies
Pace Seating System Private Limited
Premier Industrial Plastics
Rane TRW Steering Systems Limited
SAM Traders
SSB Engineering Industries
Schneider Electrical India Private Limited
Schneider Electric Australia Pty Limited
Schneider Electric Santo Amaro
Shree Design
Shindengen India Private Limited
Sundaram Auto Components Limited
SVR Instruments and Controls (I) Private Limited
TKS Products Private Limited
Tata Johnson Controls Automotive Limited
Technovative Engineers
Wipro Enterprises Limited
Workrite Interior Solutions
Zebro Office Mate Private Limited

Reference :	ABB Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Kotak Mahindra Bank Limited
Branch	27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Term Loan from Banks :
Kotak Mahindra Bank Limited, Bangalore	2.011	8.746
Term Loan from Others:
Electronica Finance Limited	2.721	5.077
Vehicle Loan from Banks :
Axis Bank Limited, Bangalore	0.101	0.206

Short-term borrowings
Working Capital Loan from Bank:
Cash Credit Account	36.979	44.981

Total	41.812	59.010
Note: Long-term Borrowings Secured Loan - Term Loan from Kotak Mahindra Bank ltd is secured by First and exclusive charge on all existing and future current assets and moveable fixed assets of the company and Extn of Equitable Mortgage of Land and Building situated at Sy.No.48/1, SLV Industrial Area, 1st Cross, behind 8th main, Peenya 2nd Stage, Kariobnahalli, Bangalore - 560 058 standing in the name of the company. It carries interest at 12.50% p.a. Secured Loan· Term Loan from Electronica Finance Limited is secured by First and exclusive charge on Plant and Machinery It carries interest at 8.88% p.a and is to be paid in 48 monthly instalment starting from November 2015. Short-term borrowings Working Capital loan, Bills discounting and packing credit facilities from Kotak Mahindra Bank Ltd is secured by First and exclusive charge on all existing and future current assets and moveable fixed assets of the company and Extn of Equitable Mortgage of Land and Building situated at Sy.No.48/1, SLV Industrial Area, 1st Cross, behind 8^th main, Peenya 2nd Stage, Kariobnahalli, Bangalore - 560 058 standing in the name of the company. It carries interest at 12.50% p.a.

Financial Institutions :	Siemens Financial Services Private Limited, Seethakathi Business Centre, 4th Floor272/688, Anna Salai, Chennai – 600006, Tamilnadu, India

Auditors :
Name :	P N R and Company Chartered Accountants
Address :	No. 117/3, Fortune Square, Flat No. T-302 S.C.Road, Seshadripuram, Bangalore-560020, Karnataka, India
Tel. No.:	91-80-23560283/ 23464144/ 23560618
E-Mail :	pnrcoekar@dataone.in pnrco@bgl.vsnl.net.in pcrcompany@yahoo.co.in
Website :	www.pnrco.net
PAN N Income-tax PAN of auditor or auditor's firm :	AAJFP9123C

Memberships :	Not Available

Collaborators :	Not Available

Associate Concern :	Primex Presscomp Private Limited

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

20000	Equity Shares	INR 100/- each	INR 2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

18730	Equity Shares	INR 100/- each	INR 1.873 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.873	1.873	1.873
(b) Reserves & Surplus	44.941	42.918	41.856
(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)	46.814	44.791	43.729

(3) Non-Current Liabilities
(a) long-term borrowings	14.496	26.163	22.237
(b) Deferred tax liabilities (Net)	0.384	0.307	0.347
(c) Other long term liabilities	0.467	0.091	2.030
(d) long-term provisions	2.657	2.599	2.538
Total Non-current Liabilities (3)	18.004	29.160	27.152

(4) Current Liabilities
(a) Short term borrowings	36.979	44.981	42.502
(b) Trade payables	59.660	55.682	50.475
(c) Other current liabilities	24.407	22.325	21.818
(d) Short-term provisions	0.427	0.501	0.000
Total Current Liabilities (4)	121.473	123.489	114.795

TOTAL	186.291	197.440	185.676

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	78.337	83.992	80.229
(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	0.044	0.044
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.237	2.755	2.543
(e) Other Non-current assets	0.659	0.659	0.659
Total Non-Current Assets	81.233	87.450	83.475

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	45.842	48.112	51.449
(c) Trade receivables	44.701	45.323	40.178
(d) Cash and cash equivalents	2.778	4.347	3.798
(e) Short-term loans and advances	11.737	12.056	6.742
(f) Other current assets	0.000	0.152	0.034
Total Current Assets	105.058	109.990	102.201

TOTAL	186.291	197.440	185.676

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	360.963	315.719	287.534
	Other Income	2.225	1.349	0.913
	TOTAL	363.188	317.068	288.447

Less	EXPENSES
	Cost of Materials Consumed	220.371	191.280	183.882
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	5.712	1.598	(11.097)
	Employees benefits expense	27.630	26.961	23.068
	Other expenses	88.137	75.849	70.329
	TOTAL	341.850	295.688	266.182

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	21.338	21.380	22.265

Less	FINANCIAL EXPENSES	11.283	12.170	13.163

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	10.055	9.210	9.102

Less/ Add	DEPRECIATION/ AMORTISATION	7.185	7.636	8.972

	PROFIT/ (LOSS) BEFORE TAX	2.870	1.574	0.130

Less	TAX	0.847	0.513	0.189

	PROFIT/ (LOSS) AFTER TAX	2.023	1.061	(0.059)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	31.741	30.680	30.739

	Balance Carried to the B/S	33.764	31.741	30.680

	EARNINGS IN FOREIGN CURRENCY
	Sales	14.062	23.404	25.765
	TOTAL EARNINGS	14.062	23.404	25.765

	IMPORTS
	Raw Materials	0.402	0.402	2.169
	Capital Goods	2.708	2.708	0.152
	Machinery Spares	0.040	0.400	0.369
	TOTAL IMPORTS	3.150	3.510	2.690

	Earnings / (Loss) Per Share (INR)	107.99	56.68	(3.15)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	8.027	5.633	7.783
Cash generated from operations	11.615	8.071	9.519
Net cash flow from operating activity	11.113	8.021	8.283

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	45.20	52.40	51.00

Account Receivables Turnover (Income / Sundry Debtors)	8.08	6.97	7.16

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	98.81	106.25	100.19

Inventory Turnover (Operating Income / Inventories)	0.47	0.44	0.43

Asset Turnover (Operating Income / Net Fixed Assets)	0.27	0.25	0.28

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.77	0.79	0.78

Debt Equity Ratio (Total Liability / Networth)	1.27	1.71	1.66

Current Liabilities to Networth (Current Liabilities / Net Worth)	2.59	2.76	2.63

Fixed Assets to Networth (Net Fixed Assets / Networth)	1.67	1.88	1.83

Interest Coverage Ratio (PBIT / Financial Charges)	1.89	1.76	1.69

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.56	0.34	(0.02)

Return on Total Assets ((PAT / Total Assets) * 100)	%	1.09	0.54	(0.03)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	4.32	2.37	(0.13)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.86	0.89	0.89

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.49	0.50	0.44

G-Score Ratio Financial (Networth / Total Assets)	0.25	0.23	0.24

G-Score Ratio Debt (Debts / Equity Capital)	31.77	40.99	38.72

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.86	0.89	0.89

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	1.873	1.873	1.873
Reserves & Surplus	41.856	42.918	44.941
Net worth	43.729	44.791	46.814

Long Term borrowings	22.237	26.163	14.496
Short Term borrowings	42.502	44.981	36.979
Current Maturities of Long term debt	7.783	5.633	8.027
Total borrowings	72.522	76.777	59.502
Debt/Equity ratio	1.658	1.714	1.271

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	287.534	315.719	360.963
		9.802	14.330

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	287.534	315.719	360.963
Profit / (Loss)	(0.059)	1.061	2.023
	(0.02%)	0.34%	0.56%

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	No
17	Details of sister concerns	Yes
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	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

CORPORATE INFORMATION

Subject is a private limited company and incorporated under the provision of companies Act, 1956 on December 07, 1990. The company is engaged in manufacturing of injection Moulded Plastics Components.

STATE OF THE COMPANY’S AFFAIRS (Sec 134(3)(i) of the Companies Act, 2013):

The company total revenue for the financial year ended March 31, 2017 was INR 363.188 Million (the profit for the year after taxes was INR 2.023 Million.

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
From Banks	0.163	1.600
From others	0.000	1.034
From Directors	09.500	9.500
Total	9.663	12.134
Note: Long-term Borrowings Unsecured Loan from Standard Chartered 8ank carries interest at 16% compounded monthly and is to be paid in 36 monthly instalment starting from April 2015. Unsecured Loan from Zen Lefin Private Limited carries interest at 18% compounded monthly and is to be paid in 24 monthly instalment starting from October 2015. Unsecured Loan from directors is interest free and is repayable beyond the period of 12 months.

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G43995778	100097926	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	27/04/2017	-	-	2885948.0	Seethakathi Business Centre, 4th Floor272/688, Anna Salai,ChennaiTN600006IN
2	C65524993	10593744	ELECTRONICA FINANCE LIMITED	26/09/2015	-	-	5925194.0	128/A, Plot No.3,Kailashchandra Appartments,Paud Road, KothrudPuneMH411038IN
3	C34768549	10533063	KOTAK MAHINDRA BANK LIMITED	26/11/2014	-	-	86000000.0	27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN
4	G08065781	90193768	M/S KARNAAKA STATE FINANCIAL CORPORATION	04/12/1993	14/07/1994	19/07/2016	350000.0	SHESHADRIPURAMBANGALOREKA560052IN
5	G08066995	90193819	M/S KARNAAKA STATE FINANCIAL CORPORATION	14/07/1994	-	19/07/2016	858000.0	SHESHADRIPURAMBANGALOREKA560052IN
6	G07145774	90191514	M/S KARNATAKA STATE FINANCIAL CORPORATION	18/10/1995	-	05/07/2016	1960000.0	NO. 25; M.G. ROADSHANKARNARAYANA BUILDINGSBANGALOREKA560001IN
7	G07145287	90192776	M/S KARNAAKA STATE FINANCIAL CORPORATION	22/11/2003	-	05/07/2016	3400000.0	NO. 1/1; THIMMIAH ROADBANGALOREKA560052IN
8	G05550199	90193619	CANARA BANK	18/12/1991	-	16/06/2016	100000.0	SHESHADRIPURAMBANGALOREKA560020IN
9	G05549118	90195930	CANARA BANK	03/10/1992	-	16/06/2016	500000.0	SHESHADRIPURAM BRANCHBANGALOREKAIN
10	G05549225	90190986	CANARA BANK	03/10/1992	-	10/06/2016	200000.0	SHESHADRIPURAM BRANCHBANGALOREKAIN

FIXED ASSETS

· Factory Buildings

· Plant and Equipment

· Furniture and Fixtures

· Electrical Installation

· Vehicles

· Office Equipment

· Computer

· Generator

· Tools and Moulds

· Transformer

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	INR
US Dollar	1	INR 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34

INFORMATION DETAILS

Information Gathered by :	AKS

Analysis Done by :	NYT

Report Prepared by :	SUJ

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.