MIRA INFORM REPORT

Report No. :	495140
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	APOLLO DESIGN APPAREL PARKS LIMITED
Registered Office :	382, N.M Joshi Marg, Chinchpokli, Mumbai – 400011, Maharashtra
Tel. No.:	91-22-64568430
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	12.11.2007
Com. Reg. No.:	11-195397
Capital Investment / Paid-up Capital :	INR 56.500 Million
CIN No.: [Company Identification No.]	U17291MH2007GOI195397
IEC No.: [Import-Export Code No.]	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
PAN No.: [Permanent Account No.]	AAHCA0613R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacturing of apparels and wholesale of textiles. [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 :

A

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is joint venture between “National Textile Corporation Limited” and Future Retail Limited” incorporated in the year 2007 having fine track record. Management has failed to file its financials for the year 2017 with Registrar of Companies. As per available financials of March 2016, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate networth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its well experienced management team along with its strong financial support from its ventures. Payments seems to be regular. In view of 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 (30.09.2017)	Current Rating (31.12.2017)
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	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 31-03-2016.

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 05.03.2018.

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 [Tel. No.: 91-22-64568430]

LOCATIONS

Registered Office :	382, N.M Joshi Marg, Chinchpokli, Mumbai – 400011, Maharashtra, India
Tel. No.:	91-22-64568430 / 64574501 / 02 / 03
Fax No.:	Not Available
E-Mail :	ceo@goldmohurpark.in

DIRECTORS

As on 31.03.2017

Name :

Mr. Sunil Biyani

Designation :

Director

Address :

2302/23rd Floor, Vivarea Tower B-2, Sane Guruji Marg, Hindustan Spinning Mills & Wire Mills Compound, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

24.10.1969

Qualification :

B.Com

Date of Appointment :

22.12.2007

PAN No.:

AAEPB3654R

DIN No.:

00006583

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U70109DL2006PTC152581	UTILITY DEVELOPERS PRIVATE LIMITED	30/09/2013	-
U14299RJ2017PTC058671	SHWET MINCHEM PRIVATE LIMITED	27/07/2017	-
U93020MH2006PTC166332	SPLENDOR FITNESS PRIVATE LIMITED	20/12/2006	-
U14100MH2017PTC289578	IRAA MINERALS PRIVATE LIMITED	30/12/2017	-
U14290MH2017PTC294387	SBRI MINERALS PRIVATE LIMITED	27/04/2017	-
U14294RJ2017PTC058670	DHAWAL MINCHEM PRIVATE LIMITED	27/07/2017	-
U70100MH2004PTC148032	BARTRAYA MALL DEVELOPMENT COMPANY PRIVATE LIMITED	16/08/2004	-
U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	19/12/2017	-
U14100MH2011PTC216518	IRS MINERALS PRIVATE LIMITED	30/09/2017	-
L51900MH1981PLC024988	GALAXY ENTERTAINMENT CORPORATION LIMITED	28/09/2011	-
L45400MH2008PLC179914	FUTURE MARKET NETWORKS LIMITED	30/05/2013	-
U17120MH1984PTC032719	FUTURE REALTORS INDIA PRIVATE LIMITED	15/09/1988	-
U51109MH2010PTC207436	OVIYA MULTITRADING PRIVATE LIMITED	23/08/2011	-
U99999MH1987PLC044078	PIL INDUSTRIES LIMITED	01/04/2010	-
U28920MH2000PLC126290	STRIPES APPARELS LIMITED	28/04/2006	-
U70109WB1998PTC087521	SUN CITY PROPERTIES PRIVATE LIMITED	13/05/2016	-
U51109MH2010PTC207475	WHITE KNIGHT MERCANTILE PRIVATE LIMITED	23/08/2011	-
U51101DL2008PTC184935	STAR SHOPPING CENTRES PRIVATE LIMITED	30/09/2009	-

Name :

Mr. Srinivas Sarvepalli

Designation :

Additional Director

Address :

18 A, X Tower T G B Meghdutam F Block Meghdutam Park, Sector 50 Noida Gautam Buddha Nagar, Noida – 201301, Uttar Pradesh, India

Date of Appointment :

19.12.2017

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17299UP1983GOI005974	NATIONAL HANDLOOM DEVELOPMENT CORPORATION LIMITED	01/05/2013	-
U74899DL1968GOI004866	NATIONAL TEXTILE CORPN LIMITED	18/12/2017	-
U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	19/12/2017	-
U74140DL2014PLC264795	BHARAT HANDLOOM MARKETING COMPANY LIMITED	12/02/2014	-

Name :

Mr. Shamsher Bahadur Singh Kathpal

Designation :

Director

Address :

48 Sidharath Apartments, Behind Inder Enclave, Rohtak Road, New Delhi – 110087, India

Date of Appointment :

14.06.2017

DIN No.:

03225016

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L25209UP1970PLC003320	SWADESHI POLYTEX LTD	26/08/2010	-
U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	26/09/2017	-
U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	26/09/2017	-
U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	26/09/2017	-
U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	26/09/2017	-

Name :

Mr. Rakesh Kumar Sinha

Designation :

Director

Address :

Flat No. 13, Pocket-2 Sector-19, Dwarka, New Delhi – 110075, India

Date of Birth/Age :

20.07.1962

Date of Appointment :

26.12.2013

PAN No.:

AHSPS4147D

DIN No.:

03391787

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	26/09/2014	-
U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	26/09/2014	-
U74899DL1968GOI004866	NATIONAL TEXTILE CORPN LIMITED	13/03/2015	-
U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	26/09/2014	-
U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	26/09/2014	-
L25209UP1970PLC003320	SWADESHI POLYTEX LTD	05/08/2013	-

Name :

Mr. Anil Poruthala Cherian

Designation :

Director

Address :

801/343, New Kalpataru, Srishti, Sector 3, Mira Bhayander, Thane – 401107, Maharashtra, India

Date of Birth/Age :

27.05.1973

Qualification :

B.Com, LLB, ACS

Date of Appointment :

26.12.2013

PAN No.:

AFUPC4543B

DIN No.:

05126014

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45200MH2004PLC146312	KB MALL MANAGEMENT COMPANY LIMITED	28/09/2012	-
U45203MH2013PTC248056	GATI REALTORS PRIVATE LIMITED	30/09/2017	-
U45400MH2011PTC224924	FUTURE TRADE MARKETS PRIVATE LIMITED	14/12/2011	-
U51909MH2008PLC181060	FUTURE RETAIL DESTINATION LIMITED	02/08/2012	-
U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	26/09/2014	-
U70102MH2006PTC161884	RIDDHI SIDDHI MALL MANAGEMENT PRIVATE LIMITED	27/09/2012	-

Name :

Mr. Sukumar Arunachalam

Designation :

Director

Address :

2/B, 406, Dream Complex, Opposite Pawar Public School, L.B.S. Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India

Date of Appointment :

01.09.2016

DIN No.:

06624132

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	13/09/2016	-
U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	26/09/2016	-
U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	13/09/2016	-
U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	26/09/2016	-

Name :

Mr. Anil Gupta

Designation :

Director

Address :

B-202, Ambience Lagoon Apartment, Ambience Island, Sector-24, NH-8, Gurugram – 122016, Haryana, India

Date of Birth/Age :

16.11.1961

Date of Appointment :

08.01.2016

PAN No.:

ABGPG3014R

DIN No.:

07319209

Name :

Mr. Lynette Robert Monteiro

Designation :

Director

Address :

E-702, Bestech Park View Spa Next, Off Golf Course Extension Road, Sector 67, Near Ireo Victory Valley, Badshahpur. Gurugram – 122101, Haryana, India

Date of Appointment :

08.09.2017

DIN No.:

07901400

KEY EXECUTIVES

Name :	Nishit Nilesh Sheth
Designation :	Company Secretary
Address :	Flat No - 32, Jin - Prem Building,Charkop, Sector - 5, Kandivali West, Mumbai – 400067, Maharashtra, India
Date of Appointment :	01.01.2017
PAN No.:	CQSPS8010G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
National Textile Corporation Limited (NTC), India	2881494
Prem Chandra Vaish, Nominee of NTC	1
Alokendra Banerjee, Nominee of NTC	1
Rakesh Kumar Sinha, Nominee of NTC	1
Anil Gupta, Nominee of NTC	1
Sukumar Arunchalam, Nominee of NTC	1
Shamsher Bahadur Singh, Nominee of NTC	1
Pantaloon Retail (India) Limited, India	2203500
S.B.P.L. Infrastructure Limited, India	508500
Nav Durga Textile Processors Limited, India	56500
Total	5650000

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2017

Category	Percentage
Promoter – Government companies	51.00
Public - Bodies corporate	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing and trading of textiles. [Registered Activity]

Products :

Item Code No.	Product Description
1410 / 4641	Manufacturing of Apparels and Wholesale of Textiles

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

Reference :	Not Divulged
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	Not Divulged
Branch	--
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)	--

Auditors :
Name :	M.D. Gujrati and Company Chartered Accountants
Address :	Krishnashraya, J-8(GF), Green Park Extension, New Delhi – 400016, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFM6032R
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	National Textile Corporation Limited, India U74899DL1968GOI004866
Joint Venture :	Future Enterprises Limited, India L52399MH1987PLC044954 SBPL Infrastructure Limited, India U99999TG1996PLC025761 Sri Navadurga Textile Processors Private Limited, India
Fellow Subsidiary Company :	Goldmohur Design And Apparel Park Limited U17291MH2007GOI195402 Aurangabad Textiles and Apparel Parks Limited New City of Bombay Manufacturing Mills Limited India United Textiles Mills Limited Swadeshi Mining & Manufacturing Company Limited

CAPITAL STRUCTURE

As on 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	INR 10/- each	INR 60.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5650000	Equity Shares	INR 10/- each	INR 56.500 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	56.500	56.500	56.500
(b) Reserves & Surplus	946.950	907.818	869.765
(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)	1003.450	964.318	926.265
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	7.865	7.287	6.358
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.123	0.906	0.713
Total Non-current Liabilities (3)	9.988	8.193	7.071
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	76.894	90.493	23.843
(c) Other current liabilities	1.950	1.640	1.483
(d) Short-term provisions	36.628	38.168	39.954
Total Current Liabilities (4)	115.472	130.301	65.280
TOTAL	1128.910	1102.812	998.616
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	67.588	70.706	74.108
(ii) Intangible Assets	0.115	0.030	0.087
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.592	6.527	6.527
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	74.295	77.263	80.722
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	45.616	37.458	30.292
(c) Trade receivables	962.129	971.944	511.432
(d) Cash and cash equivalents	45.560	11.881	9.655
(e) Short-term loans and advances	0.744	3.676	360.915
(f) Other current assets	0.566	0.590	5.600
Total Current Assets	1054.615	1025.549	917.894
TOTAL	1128.910	1102.812	998.616

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	3128.894	2572.260	1686.283
	Other Income	3.790	21.506	37.489
	TOTAL	3132.684	2593.766	1723.772
Less	EXPENSES
	Cost of Materials Consumed	258.064	174.614	142.929
	Purchases of Stock-in-Trade	2713.635	2261.888	1423.944
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(12.228)	(2.809)	17.733
	Employees benefits expense	39.036	31.403	28.998
	CSR Expenditure	0.000	1.738	0.000
	Other expenses	17.112	12.301	9.949
	Extraordinary Items	(1.406)	0.196	3.000
	TOTAL	3014.213	2479.331	1626.553
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	118.471	114.435	97.219
Less	FINANCIAL EXPENSES	0.000	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	118.471	114.435	97.219
Less	DEPRECIATION/ AMORTISATION	3.705	3.755	3.170
	PROFIT/ (LOSS) BEFORE TAX	114.766	110.680	94.049
Less	TAX	41.633	38.568	32.074
	PROFIT/ (LOSS) AFTER TAX	73.133	72.112	61.975
	Earnings / (Loss) Per Share (INR)	12.94	12.76	10.97

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
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	104.240	(311.543)	114.175

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	112.24	137.92	110.70
Account Receivables Turnover (Income / Sundry Debtors)	3.25	2.65	3.30
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	9.44	13.56	5.55
Inventory Turnover (Operating Income / Inventories)	2.60	3.06	3.21
Asset Turnover (Operating Income / Net Fixed Assets)	1.75	1.62	1.31

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.10	0.12	0.07
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.12	0.14	0.07
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.07	0.07	0.08

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	2.34	2.80	3.68
Return on Total Assets ((PAT / Total Assets) * 100)	%	6.48	6.54	6.21
Return on Investment (ROI) ((PAT / Networth) * 100)	%	7.29	7.48	6.69

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	9.13	7.87	14.06
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	8.74	7.58	13.60
G-Score Ratio Financial (Networth / Total Assets)	0.89	0.87	0.93
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	9.13	7.87	14.06

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	31.03.2014	31.03.20115	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	56.500	56.500	56.500
Reserves & Surplus	869.765	907.818	946.950
Net worth	926.265	964.318	1003.450
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.20115	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	1686.283	2572.260	3128.894
		52.540	21.640

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.20115	31.03.2016
	INR In Million	INR In Million	INR In Million
Sales	1686.283	2572.260	3128.894
Profit	61.975	72.112	73.133
	3.68%	2.80%	2.34%

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	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	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

BACKGROUND

Subject (referred as “the Company”) have been incorporated in India on November 12, 2007 with the objective to carry on the business of owning, operating and running the textile mill and any other manufacturing business within the textile sector. The Company is incorporated as a Special Purpose Vehicle (SPV) under the provisions of the Companies Act, 1956 wherein 51% shares are held by National Textile Corporation Limited (NTC) (Holding Company) which will act as a Joint Venture Company between National Textile Corporation Limited and Future Retail Limited (Formerly Known as Pantaloon Retail (India) Ltd.) and SBPL Infrastructure Ltd and Sri Navadurga Textile Processors Pvt. Ltd. (collectively called as ‘Strategic Partners’).

OPERATIONS

The Company achieved a total turnover of INR 3128.894 Million and profit after tax of INR 73.133 Million in the year 2015-16.

During the year, the turnover of the Company was increased by 21.64% compared to the year 2014-15 largely due to increased trading in textiles.

During the year, the Board continued its deliberation on the way forward on implementation of original business plan but could not conclude on the matter.

The Alternate Business Plan as approved by the Board has been implemented and the Company is operating on the basis of Alternative Business Plan.

During the year the Board of Directors have approved an interim expansion plan subject to necessary approval/permission of the authorities for enhancing manufacturing capacity at the existing facility and the plan is expected to be completed in the coming financial year.

INDUSTRY OUTLOOK

The overall business outlook is promising. The Company being part of the consumption industry, any increase in consumption demand would help the Company in its business. The Company is continuously striving to create a diversified product portfolio to de-risk the sluggishness or lack of demand for any product and to ensure optimum capacity utilisation.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Land
• Plant and Equipment
• Furniture and Fixture
• Office Equipment
• Computer 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 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 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	NIS
Report Prepared by :	JYO

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.