MIRA INFORM REPORT

Report No. :	489487
Report Date :	02.02.2018

IDENTIFICATION DETAILS

Name :	MITTAL PIGMENTS PRIVATE LIMITED
Registered Office :	217, Gali No. 2, Guru Ram Das Nagar, Laxmi Nagar, East Delhi, Delhi – 110092
Tel. No.:	91-744-2433419
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	24.04.1991
Com. Reg. No.:	55-220756
Capital Investment / Paid-up Capital :	INR 47.073 Million
CIN No.: [Company Identification No.]	U24117DL1991PTC220756
IEC No.:	1394000189
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCM1418N
GST No.:	Not Divulged
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Exporter of Metals and Chemicals. [Confirmed by Management and also Registered Activity]
No. of Employees :	300 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

A

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Jammu Pigments Limited”. The company was incorporated in the year 1991. It is manufacturer and exporter of Metals and chemicals. For the financial year 2016, the company has reported decline in its revenue as compared to previous year but has managed to maintain average profit margin of 0.23%. The satisfactory financial profile of the company is marked by sufficient networth base along with negligible debt level. Rating takes into consideration strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. The rating also takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating strengths are partially offset by unfavorable gap between trade payables and trade receivables. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: As per Registrar of Companies, the date of balance sheet i.e. financials filed is shown as 31^st March, 2017 but documents related to the financials for the year 2017 are not available from any sources.

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 (30.06.2017)	Current Rating (30.09.2017)
India	A1	A1

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	CRISIL
Rating	Long Term [Issuer not cooperating] = B+
Rating Explanation	Risk-prone-credit-quality and carries very high credit risk.
Date	09.01.2018

Rating Agency Name	CRISIL
Rating	Short Term [Issuer not cooperating] = A4
Rating Explanation	Minimal degree of safety and very high credit risk
Date	09.01.2018

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 31-03-2016.

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 02.02.2018

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 PARTED BY

Name :	Mr. Manoj Srivastav
Designation :	Marketing and Sales Department
Contact No.:	91-9829626774
Date :	31.01.2018

LOCATIONS

Registered Office :	217, Gali No. 2, Guru Ram Das Nagar, Laxmi Nagar, East Delhi, Delhi – 110092, India
Tel. No.:	Not Available
Mobile No.:	91-9829035894 (Mr. Ramesh Kumar Agarwal) 91-9829626774 (Mr. Manoj Srivastav)
Fax No.:	Not Available
E-Mail :	ramesh@mittalpigments.com mittalpigmentsgroup@gmail.com admin@mittalpigments.com
Website :	http://www.mittalpigments.com http://www.exportsindia.com
Factory/ Head Office :	A-203, Indraprastha Industrial Area, Room No. 5, Kota – 324005, Rajasthan, India
Tel. No.:	91-744-2425190/ 2433419
Fax No.:	91-744-2500018

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Naresh Dutta Sharma

Designation :

Director

Address :

45-B, Talwandi, Kota-324005, Rajasthan, India

Date of Appointment :

29.09.2017

DIN No.:

00158469

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U24119DL2005PLC203501	JAMMU PIGMENTS LIMITED	12/07/2013
U31900RJ2013PTC041719	3G ENTERPRISES PRIVATE LIMITED	04/03/2013

Name :

Mr. Ramesh Kumar Agarwal

Designation :

Director

Address :

126, Opposite Traffic Garden, Shakti Nagar,, Kota, 324009, Rajasthan, India

Date of Birth/Age :

01.07.1957

Qualification:

B.COM.

Date of Appointment :

24.04.1991

Pan No.:

ABRPA9459K

DIN No.:

00293312

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U01122RJ2008PTC027414	HADOTI BIOFUEL PRIVATE LIMITED	01/05/2010
U01403JK2009PTC002963	VAISHNODEVI PIGMENTS PRIVATE LIMITED	06/01/2009
U13200JK2009PTC002966	VAISHNODEVI METALS & FABRICATORS PRIVATE LIMITED	12/12/2011
U24114RJ1995PTC010818	SHAMBHU TRADERS PVT LTD	29/09/1995
U24117RJ1991PTC005939	ARDENT BUILDERS AND STORAGE PRIVATE LIMITED	21/01/2003
U24117RJ1996PTC011543	AGARWAL PIGMENTS PVT LTD	01/04/1997
U24117RJ1996PTC011544	R.G.PIGMENTS PRIVATE LIMITED	07/02/1996
U24119DL2005PLC203501	JAMMU PIGMENTS LIMITED	01/02/2013
U24119DL2005PTC203507	J AND K PIGMENTS PRIVATE LIMITED	30/08/2005

Name :

Mrs. Asha Devi Mittal

Designation :

Director

Address :

126, Shakti Nagar, Kota, 324009, Rajasthan, India

Date of Birth/Age :

29.10.1956

Qualification:

B.COM

Date of Appointment :

30.09.2014

Pan No.:

ACEPM9244Q

DIN No.:

00293713

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U01122RJ2008PTC027414	HADOTI BIOFUEL PRIVATE LIMITED	28/09/2017
U24117RJ1996PTC011544	R.G.PIGMENTS PRIVATE LIMITED	28/09/2017
U24119DL1991PLC221352	CHEM COLOUR (INDIA) LIMITED	02/06/2003
U24119DL2005PLC203501	JAMMU PIGMENTS LIMITED	29/05/2009
U24119DL2005PTC213514	JAMMU METCHEM PRIVATE LIMITED	30/08/2005
U24224RJ2004PTC018932	R R PIGMENTS PRIVATE LIMITED	28/09/2017
U25190RJ2014PTC046467	JAMMU RUBBER INDUSTRIES PRIVATE LIMITED	01/11/2014
U27203RJ1999PTC015652	CHAMBAL ALUMS PRIVATE LIMITED	17/11/2004
U67120WB1992PTC056018	NASEEB HOLDINGS PVT LTD	29/09/2017

Name :

Mr. Sanjay Kumar Agarwal

Designation :

Director

Address :

3 A 19 Mahaveer Nagar Extn, Kota - 324009, Rajasthan, India

Date of Birth/Age :

23.09.1976

Date of Appointment :

10.11.2016

DIN No.:

01509357

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U01403JK2009PTC002963	VAISHNODEVI PIGMENTS PRIVATE LIMITED	12/12/2011
U13200JK2009PTC002966	VAISHNODEVI METALS & FABRICATORS PRIVATE LIMITED	12/12/2011
U24119DL1991PLC221352	CHEM COLOUR (INDIA) LIMITED	29/09/2017
U24119DL2005PLC203501	JAMMU PIGMENTS LIMITED	29/09/2017
U52311KL1995PTC015747	SHAMBHU TRADERS PRIVATE LIMITED	20/02/2007

Name :

Mr. Lalit Kumar Jain

Designation :

Director

Address :

1084, Chawla Circle, Near Balaji Temple Park, Vivekanand Nagar, Engineering College, Kota-324010, Rajasthan, India

Date of Appointment :

29.09.2017

DIN No.:

07883534

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U24119DL2005PLC203501	JAMMU PIGMENTS LIMITED	29/09/2017

KEY EXECUTIVES

Name :	Mr. Manoj Srivastav
Designation :	Marketing and Sales Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares
Ramesh Kumar Agarwal	84500
Asha Devi Mittal	5100
Ramesh Kumar and Sons (HUF)	10
Naseeb Holdings Private Limited, India	11710
Mahavat Holdings Private Limited, India	16850
Jammu Pigments Limited, India	299305
Shambhu Traders Private Limited, India	11980
Priyanka Agarwal	100
Ritika Agarwal	1300
Metworld DMCC, UAE	39874
Total	470729

AS ON: 29.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	19.33
Promoters – Body Corporate	72.20
Public/Other than promoters - Body Corporate	8.47
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Trader and Exporter of Metals and Chemicals. [Confirmed by Management and also Registered Activity]

Products :

ITC Code No.	Product Descriptions
99611929	Lead Ropes
78011000	Lead Alloy
28241010	Lead Oxide
28170010	Zinc Oxide

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

· European Countries

· Asian Countries

· Sri Lanka

· USA

· UK

· Far East Country

· Gulf Countries

· Middle East

Imports :

Products :

Raw Material

Countries :

· China

· Malaysia

· USA

· Gulf Countries

Terms :

Selling :

L/C, Cheque, Credit and Others [RTGS]

Purchasing :

L/C, Cheque, Credit and Others [RTGS]

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Manufacturers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

300 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Industrial Estate Branch, Kota, Rajasthan, India
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	INR 270.000 Million
Account Operation:	--
Remarks:	--

· State Bank of Bikaner and Jaipur

A-3, Industrial Estate Branch, Kota - 324007, Rajasthan, India

Facilities :

SECURED LOANS	31.03.2016 (INR In Million)	31.03.2015 (INR In Million)
LONG-TERM BORROWINGS
Loans repayable on demand from banks	10.294	21.601
Loans taken for vehicles	1.198	1.132
SHORT TERM BORROWINGS
Rupee term loans from banks	98.440	80.948
Foreign currency term loans from banks	160.701	145.489
Total	270.633	249.170

Auditors :
Name :	B. Vishal and Company Chartered Accountants
Address :	15, Raghukul, UIT Plots, B/H Gumanpura Police Station, Jhalawar Road, Kota – 324007, Rajasthan, India
PAN No.:	AADFV3265D
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	Jammu Pigments Limited [U24119DL2005PLC203501]
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· R.G. Pigments Private Limited [U24117RJ1996PTC011544] · R R Pigments Private Limited [U24224RJ2004PTC018932] · Chambal Alums Private Limited [U27203RJ1999PTC015652]
Other Related Parties :	· Chem Colour (India) Limited [U24119DL1991PLC221352] · Mittal Chemicals · Ardent Builders and Storage Private Limited [U24117RJ1991PTC005939] · National Hermoplast Industries

CAPITAL STRUCTURE

AS ON: 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
550000	Equity Shares	INR 100/- each	INR 55.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
470729	Equity Shares	INR 100/- each	INR 47.073 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	47.073	47.073	43.086
(b) Reserves and Surplus	408.639	403.665	343.170
(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)	455.712	450.738	386.256
(3) Non-Current Liabilities
(a) long-term borrowings	617.719	654.136	566.255
(b) Deferred tax liabilities (Net)	1.912	1.751	1.650
(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)	619.631	655.887	567.905
(4) Current Liabilities
(a) Short-term borrowings	259.141	226.437	265.588
(b) Trade payables	1033.923	1119.737	693.729
(c) Other current liabilities	10.144	2.435	7.959
(d) Short-term provisions	2.861	7.894	9.978
Total Current Liabilities (4)	1306.069	1356.503	977.254
TOTAL	2381.412	2463.128	1931.415
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	29.917	31.150	31.289
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets capital work-in-progress	75.669	66.275	51.858
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.994	4.683	4.683
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	2.165	2.251	2.022
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	108.745	104.359	89.852
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1566.260	1718.994	657.627
(c) Trade receivables	491.476	300.302	739.037
(d) Cash and bank balances	58.868	57.765	81.767
(e) Short-term loans and advances	57.471	181.042	174.105
(f) Other current assets	98.592	100.666	189.027
Total Current Assets	2272.667	2358.769	1841.563
TOTAL	2381.412	2463.128	1931.415

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	2124.582	2343.060	2894.311
	Other Income	7.417	7.609	12.753
	TOTAL	2131.999	2350.669	2907.064
Less	EXPENSES
	Cost of Materials Consumed	1762.595	1961.494	2407.855
	Purchases of Stock-in-Trade	166.703	175.753	205.093
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(7.791)	(6.040)	10.623
	Employee benefit expense	2.814	3.653	3.588
	Other expenses	163.192	164.838	196.627
	TOTAL	2087.513	2299.698	2823.786
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	44.486	50.971	83.278
Less	FINANCIAL EXPENSES	33.892	40.186	66.737
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	10.594	10.785	16.541
Less/ Add	DEPRECIATION/ AMORTISATION	3.129	3.712	4.127
	PROFIT/ (LOSS) BEFORE TAX	7.465	7.073	12.414
Less	TAX	2.491	2.207	4.034
	PROFIT/ (LOSS) AFTER TAX	4.974	4.866	8.380
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	427.896	499.391	1256.256
	TOTAL EARNINGS	427.896	499.391	1256.256
	IMPORTS
	Raw Materials	1004.506	656.291	548.441
	Components and spare parts	0.000	0.000	4.548
	Capital Goods	0.000	0.000	1.992
	TOTAL IMPORTS	1004.506	656.291	554.982
	Earnings / (Loss) Per Share (INR)	10.57	10.34	19.45

PARTICULARS	31.03.2017
Sales Turnover (Approximately)	3000.000

Expected Sales (2017-2018): INR 3200.000 Million

The above information has been parted by Mr. Manoj Srivastav [Marketing and Sales Department]

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	NA
Net cash flows from (used in) operations	90.002	(58.252)	(501.930)
Net cash flows from (used in) operating activities	87.672	(62.250)	(499.040)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	84.43	46.78	93.20
Account Receivables Turnover (Income / Sundry Debtors)	4.32	7.80	3.92
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	195.61	191.23	96.91
Inventory Turnover (Operating Income / Inventories)	0.03	0.03	0.13
Asset Turnover (Operating Income / Net Fixed Assets)	0.42	0.52	1.00

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.81	0.82	0.80
Debt Equity Ratio (Total Liability / Networth)	1.92	1.95	2.15
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.87	3.01	2.53
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.23	0.22	0.22
Interest Coverage Ratio (PBIT / Financial Charges)	1.31	1.27	1.25

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	0.23	0.21	0.29
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.21	0.20	0.43
Return on Investment (ROI) ((PAT / Networth) * 100)	%	1.09	1.08	2.17

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.74	1.74	1.88
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.54	0.47	1.21
G-Score Ratio Financial (Networth / Total Assets)	0.19	0.18	0.20
G-Score Ratio Debt (Debts / Equity Capital)	18.63	18.71	19.31
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.74	1.74	1.88

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	43.086	47.073	47.073
Reserves & Surplus	343.170	403.665	408.639
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	386.256	450.738	455.712
Long-term borrowings	566.255	654.136	617.719
Short term borrowings	265.588	226.437	259.141
Total borrowings	831.843	880.573	876.860
Debt/Equity ratio	2.154	1.954	1.924

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	2894.311	2343.060	2124.582
		(19.046)	(9.324)

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	2894.311	2343.060	2124.582
Profit/ (Loss)	8.380	4.866	4.974
	0.29 %	0.21 %	0.23 %

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	Yes
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	No
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	No
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	Yes
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

CHARGES REGISTERED
SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	B03620564	10261477	STATE BANK OF BIKANER & JAIPUR	22/12/2010	-	-	588000.0	A-3, INDUSTRIAL ESTATE BRANCH,KOTARJ324007IN
2	A74114182	10187249	HDFC BANK LIMITED	23/10/2009	-	-	1170000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
3	B70828728	90073979	STATE BANK OF BIKANER AND JAIPUR	11/04/2002	14/02/2013	-	300000000.0	A-3INDUSTRIAL ESTATEKOTARJ324007IN
4	Y10156432	90073912	STATE BANK OF BIKANER AND JAIPUR	03/04/2001	19/06/2003	-	11000000.0	I. ESTATEKOTARJIN
5	Y10157015	90074495	STATE BANK OF BIKANER AND JAIPUR	19/04/1993	-	-	6400000.0	I. ESTATEKOTARJIN
6	G37690682	10398256	STATE BANK OF BIKANER AND JAIPUR	30/11/2012	-	03/03/2017	55000000.0	INDUSTRIAL ESTATE BRANCHAERODROME CIRCLEKOTARJ324007IN
7	A15670045	90075459	ORIENTAL BANK OF COMMERCE	23/12/2004	-	03/05/2007	30000000.0	INDRA VIHAR BRANCHKOTARJIN

UNSECURED LOANS

PARTICULARS	31.03.2016 (INR In Million)	31.03.2015 (INR In Million)
LONG-TERM BORROWINGS
Intercorporate borrowings	543.137	0.000
Loans and advances from related parties	48.774	619.676
Other loans and advances, others	14.316	11.727
Total	606.227	631.403

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from A - 203, Road No. 5, IPIA, Kota - 324005, Rajasthan, India to the present address w.e.f 09.06.2011

NATURE OF BUSINESS

The company is engaged in the business of manufacturing and trading and Job work of various type of Metals and chemicals. There is no change in the nature of business during the year.

FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

During the year the Net Turnover and other Income is INR 2131.999 million as against INR 2339.787 million in the last year. The turnover declined due to fall in overall market demand in view of continuous decline in Non -ferrous metal prices and stiff completion in market. The market has started improving since February onwards after stability in metal prices and improvement in market demand scenario.

The Net Profit after depreciation and Taxation was INR 0.974 million as against INR 4.865 million in previous year. The net profit was increased in comparison to previous year showing growing prospects of the company.

BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/STATE OF COMPANY'S AFFAIR

The company is dealing in Lead metal, Zinc Oxide and other Non ferrous metals and Chemicals The company proposes to carry the same products in the future years also. The company has got assurance from its supplier (s) that there would be regular supply of the raw material during the year.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

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 63.61
UK Pound	1	INR 90.18
Euro	1	INR 78.95

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	VAR
Report Prepared by :	RUP

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	YES
--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.