MIRA INFORM REPORT

Report No. :	491288
Report Date :	14.02.2018

IDENTIFICATION DETAILS

Name :	MANJUSHREE TECHNOPACK LIMITED (w.e.f. 21.05.2009)
Formerly Known As :	MANJUSHREE EXTRUSIONS LIMITED (w.e.f. 20.12.2007) MANJUSHREE EXTRUSIONS PRIVATE LIMITED
Registered Office :	Plot No. 60 E and F, Bommasandra, Industrial Area, Bangalore - 560099, Karnataka
Tel. No.:	91-80-43436200
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	13.11.1987
Com. Reg. No.:	08-032636
Capital Investment / Paid-up Capital :	INR 137.186 Million
CIN No.: [Company Identification No.]	U67120KA1987PLC032636
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACM9418K
GSTIN :	Not Available
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Subject is engaged in Providing Packaging Solutions, Manufactures and Sells PET/ Plastics Preforms and Containers. The company has introduced a new Product named Blow Film during the year. [Registered Activity]
No. of Employees :	Not Available

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+	Low Risk	Business dealings permissible with low risk of default

Maximum Credit Limit :	USD 8500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1987 and it is having good track records. For the financial year 2017, the company has marginal declined in its revenue from operation as compared to previous year and maintained decent profitability margin of 9.56%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet. Further, rating also reflects from its established market position supported by improving geographical diversity along with strong customer base and improvement in the revenue as well as profitability during the year. However, rating strength is partially by working capital-intensive nature of operations and intense competition in the fragmented plastic packaging industry. Trade relations are reported as fair. Business is active. Payments terms are seem to be regular. In view of the aforesaid, 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.

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 Rating = A+
Rating Explanation	Adequate degree of safety and low credit risk.
Date	19.07.2017

Rating Agency Name	CRISIL
Rating	Short Term Rating = A1
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	19.07.2017

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 13.02.2018

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.

LOCATIONS

Registered / Corporate Office and Factory 1 :	Plot No. 60 E and F, Bommasandra, Industrial Area, Bangalore - 560099, Karnataka, India
Tel. No.:	91-80-43436200
Fax No.:	91-80-27832245
E-Mail :	majushreeinnovation@vsnl.net bkmohata@manjushreeindia.com info@manjushreeindia.com
Website :	http://www.manjushreeindia.com http://www.recycleright.in
Factory 2 :	71-72, Bidadi Industrial Area, Phase 2, Sector 2, Bidadi, Bangalore - 562109, Karnataka, India
Tel. No.:	91-80-71116200
Factory 3 :	295, 2^nd Phase, Harohalli Industrial Area, Kanakapura Taluk, Harohalli, Bangalore- 562135, Karnataka, India
Factory 4 :	Plot No. 70-71 B, EPIP, Phase 1, Jharmari, Tehsil Baddi, District Solan, Himachal Pradesh, India
Factory 5 :	UnitI-No. 143, C - 5, Bommsasndra Industrial Area, Hosur Road, Bangalore - 560099, Karnataka, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Vimal Kedia

Designation :

Managing Director

Address :

Manjushree Extrusions Limited, 143C5, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India

Date of Birth/Age :

08.07.1956

Qualification :

B.Com

Date of Appointment :

25.09.2003

PAN No.:

AJEPK1288K

DIN No.:

00072923

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U67120KA2003PTC032635	MANJUSHREE FINCAP PRIVATE LIMITED	27/09/2015	-
U67120KA2003PTC032637	SHRUTI FINANCIAL SERVICES PRIVATE LIMITED	25/09/2003	-
U51109WB1991PTC051864	JINVANI TRADING & INVESTMENT COMPANY PRIVATE LIMITED	22/09/2014	-
U51909KA2009PTC086538	PRAPTI VINIMAY PRIVATE LIMITED	22/09/2014	-
U51909KA2010PTC086539	SNT MERCHANTS PRIVATE LIMITED	27/09/2014	-

Name :

Mr. Surendra Kedia

Designation :

Executive Director and Compliance Officer

Address :

Manjushree Extrusions Limited, 143C5, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India

Date of Birth/Age :

15.04.1963

Qualification :

B.E. (Chem)

Date of Appointment :

01.04.2010

PAN No.:

AEGPK2874N

DIN No.:

00072926

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U67120KA2003PTC032635	MANJUSHREE FINCAP PRIVATE LIMITED.	25/09/2003	-
U67120KA2003PTC032637	SHRUTI FINANCIAL SERVICES PRIVATE LIMITED	25/09/2015	-
U51109WB1991PTC051864	JINVANI TRADING & INVESTMENT COMPANY PVT LTD	22/09/2014	-
U51909KA2009PTC086538	PRAPTI VINIMAY PRIVATE LIMITED	22/09/2014	-
U51909KA2010PTC086539	SNT MERCHANTS PRIVATE LIMITED	27/09/2014	-

Name :

Mr. Rajat Kedia

Designation :

Whole-time Director

Address :

Manjushree Extrusions Limited, 143C5, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India

Date of Birth/Age :

23.01.1981

Qualification :

Graduate from Cardiff Business School, UK

Date of Appointment :

01.04.2015

PAN No.:

AJHPK5442L

DIN No.:

00072940

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U67120KA2003PTC032635	MANJUSHREE FINCAP PRIVATE LIMITED	27/09/2015	-
U67120KA2003PTC032637	SHRUTI FINANCIAL SERVICES PRIVATE LIMITED	25/09/2015	-

Name :

Mr. Ankit Kedia

Designation :

Whole-time Director

Address :

Manjushree Extrusions Limited, 143C5, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India

Date of Birth/Age :

07.04.1984

Qualification :

Graduation from Western Michingan University and Post Graduation

Date of Appointment :

27.05.2010

PAN No.:

AJEPK5740N

DIN No.:

00072959

Name :

Mr. G Vamanacharya

Designation :

Director

Address :

4, Shreedhama, 7th Main, Khm Block, R T Nagar, Bangalore – 560032, Karnataka, India

Date of Birth/Age :

14.07.1942

Qualification :

Chartered Accountant

Date of Appointment :

30.09.2003

PAN No.:

AAGPV4149M

DIN No.:

00246237

Name :

Mr. Narendra Kumar Sarawgi

Designation :

Director

Address :

Flat E-1107, Jakranda Brigade Millenium, J P Nagar, 7th Phase, Puttanhall Bangalore – 560078, Karnataka, India

Date of Birth/Age :

19.06.1956

Qualification :

MBA, M.com., LLB

Date of Appointment :

30.09.2003

PAN No.:

AHPPS6259M

DIN No.:

01367741

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U72200KA2005PTC036899	MPHINITE TECHNOLOGIES PRIVATE LIMITED	19/12/2005	-
U25200KA2005PTC036900	MPHINITE SOLUTIONS PRIVATE LIMITED	19/12/2005	-
U72200KA2007PTC044744	INNOVERSANT SOLUTIONS PRIVATE LIMITED	20/12/2007	-

Name :

Mrs. Maya Radheshyam Agarwal

Designation :

Director

Address :

F-503, Mittal Tower, 6.39, M.G. Road, Bangalore - 560001, Karnataka, India

Date of Birth/Age :

14.10.1938

Qualification :

Graduate

Date of Appointment :

27.09.2013

PAN No.:

ADJPA2970R

DIN No.:

00333648

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24119KA1985PTC006763	JAIRAMDASS AND SONS PRIVATE LIMITED	11/03/1985	-
U51909KA1985PTC006652	JESONS TECHNOLOGIES PRIVATE LIMITED	25/01/1985	-
U72900KA1993PTC014558	INFOMART (INDIA) PRIVATE LIMITED	20/07/1993	-
U31909KA1997PTC022818	SAMTRON INDIA PRIVATE LIMITED	24/09/1997	-

Name :

Mr. Sunish Sharma

Designation :

Nominee Director

Address :

Flat No. 1902, 19th Floor, The Imperial, South Tower, BB Nakashe Marg, Mumbai – 400034, Maharashtra, India

Date of Birth/Age :

25.10.1974

Qualification :

MBA

Date of Appointment :

20.05.2015

PAN No.:

ATEPS8733M

DIN No.:

00274432

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	19/03/2014	-

Name :

Mr. Sanjeev Aga (w.e.f. 16.09.2015)

Designation :

Nominee Director

Address :

1301 Kavita Kunj CHS Limited, Satguru Sanskar, Plot No. 19,TPS IV, 3rd Road, Near Almeida Park, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

01.02.952

Qualification :

Post Graduate form IIM Kolkata

Date of Appointment :

14.09.2015

PAN No.:

AAAPA2497D

DIN No.:

00022065

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	19/03/2014	-
L22120MH2004PLC285453	UFO MOVIEZ INDIA LIMITED	20/11/2014	-
L55101TN1996PLC036595	MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED	29/07/2013	-
U72900MH1996PLC104693	LARSEN & TOUBRO INFOTECH LIMITED	09/11/2016	-
L24100MH1969PLC014336	PIDILITE INDUSTRIES LIMITED	01/09/2015	-
L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	26/08/2016	-
L32100GJ1996PLC030976	IDEA CELLULAR LIMITED	01/04/2011	-

KEY EXECUTIVES

Name :	Mr. Basant Kumar Mohata
Designation :	Chief Finance Officer and Company Secretary
Address :	A-306, 03 Rajarajeshwari Nivas, Near HTMT Office, Bommanhalli, Bangalore – 560068, Karnataka, India
Date of Birth/Age :	21.07.1972
Qualification :	ACS
Date of Appointment :	05.06.2013
PAN No.:	AFMPM1275N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Manjushree Fincap Private Limited.	1807785
Hitech Creations Private Limited	1722246
Shruti Financial Services Private Limited	1747983
Mphinite Solutions Private Limited	1163457
Ladoga Holdings Private Limited	5204120

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	7.51
Promoter - Bodies corporate	49.72
Public – (Individual/ Hindu Undivided Family – Indian)	2.62
Public – Non-resident Indian (NRI)	0.06
Public - Bodies corporate	40.09
Public – Others - Clearing members	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Providing Packaging Solutions, Manufactures and Sells PET/ Plastics Preforms and Containers. The company has introduced a new Product named Blow Film during the year. [Registered Activity]

Products :

Item Code No.	Product Description
39076000	Pet Stretch Blow Moulded Containers
25202	PET / PP Jars, Bottles, Preforms Closures and Shrink Film

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Reference :	Not Available
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Not Available

Bankers :

Bank Name	State Bank of India
Branch	Industrial Finance Branch 61, Residency Plaza, Residency Road, Bangalore - 560025, Karnataka, 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
Rupee term loans from banks	2616.981	1208.410
Short-term borrowings
Rupee term loans from banks	1530.235	617.787
Total	4147.216	1826.197

Auditors :
Name :	Singhvi Dev and Unni Chartered Accountant
Address :	6th Floor, Trade Centre, 29/4, Race Course Road, Bangalore – 560001, Karnataka, India
Tel. No.:	91-80-22261371
Fax No.:	91-80-22205469
E-Mail :	info@sduca.com
Website :	www.sduca.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFS6338K
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Hitech Creations Private Limited U22110KA1992PTC012732 Jinvani Trading and Investment Company Private Limited U51109WB1991PTC051864 Manjushree Fincap Private Limited, India U67120KA2003PTC032635 Mphinite Solutions Private Limited U25200KA2005PTC036900 Mphinite Technologies Private Limited U72200KA2005PTC036899 Prapti Vinimay Private Limited U51909KA2009PTC086538 Shruti Financial Services Private Limited U67120KA2003PTC032637 SNT Merchants Private Limited U51909KA2010PTC086539

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	INR 10/- each	INR 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13547700	Equity Shares	INR 10/- each	INR 135.477 Million
	Add : Forfeited shares		INR 1.709 Million
	Total		INR 137.186 Million

FINANCIAL DATA

[all figures are in Rupees 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	137.186	137.186	137.186
(b) Reserves and Surplus	2826.423	2217.327	1672.565
(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)	2963.609	2354.513	1809.751
(3) Non-Current Liabilities
(a) long-term borrowings	2616.981	1208.410	1319.998
(b) Deferred tax liabilities (Net)	78.116	88.240	78.393
(c) Other long-term liabilities	121.261	1.261	1.261
(d) long-term provisions	26.756	13.069	12.571
Total Non-current Liabilities (3)	2843.114	1310.980	1412.223
(4) Current Liabilities
(a) Short-term borrowings	1530.235	617.787	654.036
(b) Trade payables	281.044	105.119	97.180
(c) Other current liabilities	1245.188	466.569	716.266
(d) Short-term provisions	49.824	36.741	87.004
Total Current Liabilities (4)	3106.291	1226.216	1554.486
TOTAL	8913.014	4891.709	4776.460
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4150.133	2629.093	2116.281
(ii) Intangible Assets	802.993	1.999	1.588
(iii) Tangible assets capital work-in-progress	155.064	26.895	213.668
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	91.424	110.999	282.696
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5199.614	2768.986	2614.233
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1417.952	842.662	865.319
(c) Trade receivables	1717.122	1036.568	869.266
(d) Cash and bank balances	100.916	37.701	46.063
(e) Short-term loans and advances	385.445	198.036	361.016
(f) Other current assets	91.965	7.756	20.563
Total Current Assets	3713.400	2122.723	2162.227
TOTAL	8913.014	4891.709	4776.460

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	6373.621	5426.126	5245.509
	Other Income	98.050	57.673	35.105
	TOTAL	6471.671	5483.799	5280.614
Less	EXPENSES
	Cost of Materials Consumed	3515.150	2788.641	2911.157
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(324.517)	87.604	311.220
	Employee benefit expense	359.781	246.744	318.856
	CSR expenditure	0.000	0.000	7.225
	Other expenses	1075.194	884.612	565.733
	Prior period items before tax	0.000	0.000	0.601
	TOTAL	4625.608	4007.601	4114.792
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1846.063	1476.198	1165.822
Less	FINANCIAL EXPENSES	247.548	150.859	199.450
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1598.515	1325.339	966.372
Less/ Add	DEPRECIATION/ AMORTISATION	789.361	453.681	472.547
	PROFIT/ (LOSS) BEFORE TAX	809.154	871.658	493.825
Less	TAX	200.058	294.291	147.282
	PROFIT/ (LOSS) AFTER TAX	609.096	577.367	346.543
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	303.063	478.393	606.623
	TOTAL EARNINGS	303.063	478.393	606.623
	IMPORTS
	Raw Materials	164.575	164.919	NA
	Components and spare parts	2.249	2.249	NA
	Capital Goods	267.076	188.341	NA
	TOTAL IMPORTS	433.900	355.509	NA
	Earnings / (Loss) Per Share (INR)	44.96	42.62	25.58

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	497.449	189.058	351.731
Net cash flows from (used in) operations	1002.955	1446.740	1295.834
Net cash flows from (used in) operating activities	703.082	1117.796	1144.256

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days [Sundry Debtors / Income * 365]	98.33	69.73	60.49
Account Receivables Turnover [Income / Sunday Debtors]	3.71	5.23	6.03
Average Payment Days [Sundry Creditors / Purchases * 365]	29.18	13.76	12.18
Inventory Turnover [Operating Income / Inventories]	1.30	1.75	1.35
Asset Turnover [Operating Income / Net Fixed Assets]	0.36	0.56	0.50

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]	0.70	0.54	0.68
Debt Equity Ratio (Borrowings / NetWorth)	1.57	0.86	1.29
Current Liabilities to Networth (Current Liabilities / NetWorth)	1.05	0.52	0.86
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)	1.72	1.13	1.29
Interest Coverage Ratio [PBIT / Financial Charges]	7.46	9.79	5.85

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	(%)	9.56	10.64	6.61
Return on Total Assets [(PAT / Total Assets) * 100]	(%)	6.83	11.80	7.26
Return on Investment (ROI) [(PAT / NetWorth) * 100]	(%)	20.55	24.52	19.15

SOLVENCY RATIO

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio [Current Assets / Current Liabilities]	1.20	1.73	1.39
Quick Ratio [(Current Assets - Inventories) / Current Liabilities]	0.74	1.04	0.83
G-Score Ratio Financial [NetWorth / Total Assets]	0.33	0.48	0.38
G-Score Ratio Debt [Debts / Equity Capital]	33.86	14.69	16.95
G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]	1.20	1.73	1.39

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	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	137.186	137.186	137.186
Reserves & Surplus	1672.565	2217.327	2826.423
Net worth	1809.751	2354.513	2963.609
Long-term borrowings	1319.998	1208.410	2616.981
Short term borrowings	654.036	617.787	1530.235
Current maturities of long-term debts	351.731	189.058	497.449
Total borrowings	2325.765	2015.255	4644.665
Debt/Equity ratio	1.285	0.856	1.567

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	5245.509	5426.126	6373.621
		3.443	17.462

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	5245.509	5426.126	6373.621
Profit/ (Loss)	346.543	577.367	609.096
	6.61 %	10.64 %	9.56 %

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	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	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)	No
16	No. of employees	No
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	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	Yes
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 Plot No. 143 -C5, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India to the present address w.e.f. 01.01.2013

COMPANY PROFILE AND BACKGROUND

The company was incorporated in 1987. The registered office of the company is situated in Bommasandra Industrial Area, Bengaluru, Karnataka. The Company is engaged in providing packaging solutions, manufactures and sells PET / Plastics Preforms, Containers and Blow Film during the year. During the year Company has established a new manufacturing unit at Guwahati, Assam. also Company has expanded its manufacturing facility to northern part of India by purchasing on slump sale basis the running manufacturing facilities at Himachal Pradesh, Uttarkand, Delhi and Uttar Pradesh.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Land
• Buildings
• Furniture and fixtures
• Vehicles
• 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 64.28
UK Pound	1	INR 89.02
Euro	1	INR 78.93

INFORMATION DETAILS

Analysis Done by :	PRS
Report Prepared by :	KJL

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.