MIRA INFORM REPORT

Report No. :	496440
Report Date :	27.03.2018

IDENTIFICATION DETAILS

Name :	ROLEX RECLAIM PRIVATE LIMITED
Registered Office :	Survey No. 275, Plot No. 4/B, Galaxy Industrial Estate, B/H Tulsi Metal Shapar (Veraval), Rajkot-360002, Gujarat
Tel. No.:	91-281-2480452
Country :	India
Financials (as on) :	31.01.2018 (Provisional)
Date of Incorporation :	15.11.2011
Com. Reg. No.:	04-067831
Capital Investment / Paid-up Capital :	INR 24.000 Million
CIN No.: [Company Identification No.]	U25190GJ2011PTC067831
IEC No.:	2411012381
GST No.:	24AAFCR5715B1ZS
TIN No.:	24092703782
Central Excise Registration Number :	AAFCR5715BEM001
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAFCR5715B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Reclaimed Rubber. [Registered Activity and also Confirmed by Management]
No. of Employees :	35 (Approximately) [In Office: 05, In Factory: 30]

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 25100
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2011. It is a manufacturer and exporter of reclaimed rubber. For the financial year 2017, the company has reported dip in its revenue by 19.38% as compared to the previous year along with operational loss. The moderate financial risk profile of the company is marked by negative reserve base due to continuous loss along with comfortable debt balance sheet profile. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. Note: Site visit report will be sent in due course.

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

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 27.03.2018.

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 PARTED BY

Name :	Mr. Montu Patel
Designation :	General Manager in Marketing
Contact No.:	91-9099058820
Date :	23.03.2018

LOCATIONS

Registered Office :	Survey No. 275, Plot No. 4/B, Galaxy Industrial Estate, B/H Tulsi Metal Shapar (Veraval), Rajkot-360002, Gujarat, India
Tel. No.:	91-281-2480452
Mobile No.:	91-9825211130 [Mr. Divyesh Karamshibhai Pambhar] 91-9724336558 [Mr. Mayur] 91-9099058820 [Mr. Montu Patel]
Fax No.:	91 281 2480453
E-Mail :	info@rolexreclaim.com rolexreclaim@yahoo.com
Website :	www.rolexreclaim.com
Location :	Owned
Locality :	Industrial
Factory :	Survey No. 80/P4, Plot No. 1, Village Pipaliya, Ta. Gondal, District Rajkot-360311, Gujarat, India
Area :	39500 Sq. Ft.
Location :	Owned
Head Office :	Office No. 301, Dhanrajni Complex, Dr. Yagnik Road, Rajkot-360001, Gujarat India
Corporate Office :	147-A, Sant Sena Maharaj Marg, 2nd Kumbharwada, Mumbai-400004, Maharashtra, India
Tel. No.:	91-22-66363159/ 23804121
Fax No.:	91-22-23893391
E-Mail :	export@rolexreclaim.com

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Thanmal Hansraj Jain

Designation :

Director

Address :

Room No. 16, 3rd Floor, Saboo Bldg, 7/A, A. Dady X Lane, Mumbai-400004, Maharashtra, India

Date of Birth/Age :

04.05.1963

Qualification :

HSC

Experience :

20 Years

Date of Appointment :

15.11.2011

PAN No.:

ACDPJ2247B

Aadhar No :

438178534449

DIN No.:

00308482

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U74999MH1995PTC093857	ROLEX FITTINGS INDIA PRIVATE LIMITED	25/10/1996

Name :

Mr. Jayesh Kantilal Vadukiya

Designation :

Director

Address :

Gokuldham Societ, Block No-127, Krishna Nagar Main Road, Rajkot-360004, Gujarat India

Date of Birth/Age :

30.05.1975

Qualification :

HSC

Experience :

18 Years

Date of Appointment :

15.11.2011

PAN No.:

AEMPV7320L

Aadhar No :

577467844343

DIN No.:

05106597

Name :

Mr. Jitendra Kantibhai Bhadeshiya

Designation :

Director

Address :

Dev Krupa, Blk.No.14, Haridwar Soc -6, Krushnanagar Main Road, Rajkot- 360004, Gujarat India

Date of Birth/Age :

30.06.1974

Qualification :

ITI

Experience :

20 Years

Date of Appointment :

15.11.2011

PAN No.:

AHPPB0723P

Aadhar No :

593348884879

DIN No.:

05107146

Name :

Mr. Divyesh Karamshibhai Pambhar

Designation :

Director

Address :

Akshar Bhavan Vraj Vatika Society, B/H Swaminarayan Temple Kalawad Road, Rajkot-360005, Gujarat India

Date of Birth/Age :

21.05.1979

Qualification :

Mechanical Eng

Experience :

16 Years

Date of Appointment :

15.11.2011

PAN No.:

AIYPP6342C

Aadhar No :

383576820645

DIN No.:

05111428

KEY EXECUTIVES

Name :	Mr. Montu Patel
Designation :	General Manager in Marketing

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares	Percentage of Holding
Jayesh Kantilal Vadukiya	371000	15.46
Jitendra Kantibhai Bhadeshiya	393500	16.40
Thanmal Hansraj Jain	712500	29.69
Divyesh Karamshibhai Pambhar	844500	35.19
Jalvi Divyesh Pambhar	78500	3.27
Total	2400000	100.00

AS ON: 30.09.2016

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Reclaimed Rubber. [Registered Activity and also Confirmed by Management]

Products/ Services :

ITC Code No.	Product Descriptions
40030000	Manufacturing of reclaim rubber

Brand Names :

“BLACK PEARL”

Agencies Held :

Not Available

Exports :

Products :

Reclaimed Rubber

Countries :

· Japan

· China

· Mexico

· Thailand

Imports :

Products :

Not Available

Countries :

Not Available

Terms :

Selling :

L/C, Cash and Credit [60 Days]

Purchasing :

Cash and Credit [60 Days]

PRODUCTION STATUS

Particulars	Installed Capacity	Actual Production
Butyl Reclaimed Rubber	350 MT/ Month	315 MT/ Month
Tire Reclaimed Rubber	250 MT/ Month	230 MT/ Month

GENERAL INFORMATION

Suppliers :

Reference:

New Tech Industries

Name of the Person (Designation):

Mr. Mahesh [Proprietor]

Contact Number:

91-9825203378

Since how long known:

4 Years

Maximum limit dealt:

Depend on order

Experience:

Payment Behavior	Market Goodwill	Overall
Good	Good	Good

Remark

Mr. Mahesh [Proprietor] gave positive response about subject company.

· Aristo Flexi Pack, Daman

· Bansal Cargo Movers, Gujarat

· Navigator Visa Global Logistic Limited, Gujarat

· Hindustan Petroleum Corporation Limited, Maharashtra

· Indopan Pollyfiller, Rajasthan

· Patidar Wooden Box, Gujarat

· Shree Umiya Sales Agency, Gujarat

· Swastik Stationery and Zerox, Gujarat

· Usha International, Gujarat Gujarat

· Eagle Security Service, Gujarat

· Jet Tech Industries, Gujarat

· Perfect Wire Products, Gujarat

Customers :

End Users and OEMs

Reference:

Black Gold Enterprise

Name of the Person (Designation):

Mr. Mital [Partner]

Contact Number:

91-7016236298

Since how long known:

4 Years

Maximum limit dealt:

Depend on order

Experience:

Product Quality	Delivery Behavior	Overall
Good	Good	Good

Remark

Mr. Mital [Partner] gave positive response about subject company.

· Cooper Tire and Rubber, USA

· Sankyo Rubber Co. Limited, Japan

· GoodTire Rubber, Taiwan

· RubberKing Quality Products, India

· K.S. Machukij, Thailand

· Orotex Chemical (India) Private Limited, India

· Dayangzhou Tire, China

· Sempertrans Group, India

· Dovetail Polymers, UK

· Braza Tire, India

· Trambak Rubber, India

· Shahab Tire Asia, Iran

· B.K Rubber Limited, India

No. of Employees :

35 (Approximately) [In Office: 05, In Factory: 30]

Bankers :

Bank Name:	Dena Bank
Branch:	Junction Plot Branch, Rajkot - 360001, Gujarat, India
Person Name (with Designation):	Mr. Premsingh Kalyan [Chief Manager]
Contact Number:	91-9152940545
Name of Account Holder:	ROLEX RECLAIM PRIVATE LIMITED
Account Number:	Cash Credit A/c 054513023787 Current A/c 054511023845
Account Since (Date/ Year of A/c Opening):	Cash Credit A/c 13.09.2012 Current A/c 03.09.2012
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	Credit Limit=INR 47.500 Million
Account Operation:	Regular
Remarks:	Mr. Premsingh Kalyan [Chief Manager] gave positive response about subject company.

Facilities :

SECURED LOANS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
LONG-TERM BORROWINGS
Term Loan
From Banks
Term Loan-Dena Bank-054554023811	0.000	4.946
Dena Bank Term Loan New A/C No 054554023833	5.948	7.467
Dena Bank Loan A/C 054554023811	3.650	0.000
SHORT TERM BORROWINGS
Loans repayable on demand
From Banks
Dena Bank CC A/C 054513023787	37.042	36.977
Total	46.640	49.390

Auditors :
Name :	Manj and Associates Chartered Accountants
Address :	Rameshwar Complex, Veraval Main Road, Veraval (Shapar), Rajkot-360024, Gujarat, India
Tel. No.:	91-281-2468148
Mobile No.:	91-9909230992
E-Mail :	vorajigneshd@gmail.com
PAN No.:	AASFM9046Q
Member No.:	131063
Memberships :	Not Available
Collaborators :	Not Available
Sister Concerns :	· New Age Construction Equipment Engg. Co. Address: Survey No. 275, Plot No 4/B, Galaxy Industrial Estate, Shapar (Veraval), District Rajkot, Gujarat, India Line of Business: Purchase and Sale of Steel Suspended Platforms and giving them on Hire and also Import and Export, etc. · Rolex Fittings India Private Limited Address: Kumbharwada, Mumbai, Maharashtra, India Line of Business: Stainless Steel Pipe Fittings and Flanges

CAPITAL STRUCTURE

PROVISIONAL CAPITAL ACCOUNT AS ON 31.01.2018

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : INR 24.000 Million

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
2400000	Equity Shares	INR 10/- each	INR 24.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2400000	Equity Shares	INR 10/- each	INR 24.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.01.2018 (Provisional) (10 Months)
SHAREHOLDERS FUNDS
1] Share Capital Account		24.000
2] Profit and Loss Account		1.763
3] Reserve and Surplus		(16.970)
NETWORTH		8.793
LOAN FUNDS
1] Secured Loans		44.614
2] Unsecured Loans		19.926
TOTAL BORROWING		64.540
DEFERRED TAX LIABILITIES		0.000
TOTAL		73.333
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		26.771
Capital work-in-progress		0.000
INVESTMENT		3.662
DEFERRED TAX ASSETS		2.200
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	32.328
	Sundry Debtors	10.318
	Cash & Bank Balances	1.874
	Other Current Assets	0.724
	Loans & Advances	3.923
Total Current Assets		49.167
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.399
	Other Current Liabilities	0.000
	Provisions	0.068
Total Current Liabilities		8.467
Net Current Assets		40.700
MISCELLANEOUS EXPENSES		0.000
TOTAL		73.333

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	24.000	24.000	24.000
(b) Reserves & Surplus	(16.970)	(7.939)	(5.099)
(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)	7.030	16.061	18.901
(3) Non-Current Liabilities
(a) Long-term borrowings	29.151	31.657	35.469
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	29.151	31.657	35.469
(4) Current Liabilities
(a) Short term borrowings	37.042	36.977	41.317
(b) Trade payables	10.199	4.832	4.260
(c) Other current liabilities	1.180	0.019	3.662
(d) Short-term provisions	0.583	0.384	0.218
Total Current Liabilities (4)	49.004	42.212	49.457
TOTAL	85.185	89.930	103.827
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	29.346	34.461	40.523
(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	0.000	0.000
(c) Deferred tax assets (net)	2.200	1.811	1.288
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	3.441	4.270	5.577
Total Non-Current Assets	34.987	40.542	47.388
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	38.384	30.191	29.656
(c) Trade receivables	5.724	7.922	15.787
(d) Cash and cash equivalents	2.949	1.928	3.831
(e) Short-term loans and advances	0.000	4.468	1.184
(f) Other current assets	3.141	4.879	5.981
Total Current Assets	50.198	49.388	56.439
TOTAL	85.185	89.930	103.827

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.01.2018 (Provisional) (10 Months)
	SALES
		Sales	75.817
		Other Income	1.242
		TOTAL	77.059
Less	EXPENSES
		Costs of Goods Sold	60.897
		Electricity Expenses	2.656
		Factory Exp.	0.043
		Freight Charges	0.042
		Hotel Expense	0.012
		Labour Charges	0.025
		Loading Charges	0.002
		Machinery Maintenance Exp	0.002
		Packing Material Exp	0.015
		Shorting and Cutting Labour Charges	0.611
		Software Exp	0.008
		Staff Canteen Exp	0.008
		Tools and Consumables Exp	0.001
		Transportation Exp (Raw Material)	0.067
		Transportation Exp	0.051
		Travelling Exp	0.021
		VAT Reduction	0.018
		Water Expenses	0.053
		Worker and Factory Staff Salary A/C	0.790
		Administrative Expence	0.037
		Bonus Expenses	0.002
		Calibration Charges	0.009
		Central Excise Reduction	0.064
		Clearing and Forwarding Agency Charges (Import/ Export)	0.222
		Clearing and Forwarding Exp (Export)	0.029
		Crane Rent Exp	0.002
		Electric Exp (Office)	0.035
		Export Commission	0.314
		Export/ Import Document Charges and Others	0.113
		Fumigation Charges	0.010
		Insurance Exp. (Import and Export)	0.020
		Insurance Exp. (Factory and Goods)	0.035
		Internet Expenses	0.022
		Krishi Kalyan Cess @ 0.5%	0.003
		LC Charges	0.002
		Legal Exp. A/c	0.071
		Marketing Exp.	0.014
		Medical Expenses	0.001
		Membership Fees	0.004
		Misc Expenses	0.003
		Other Expenses	2.132
		TOTAL	68.466
	PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		8.593
Less	FINANCIAL EXPENSES		4.354
	PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION		4.239
Less/ Add	DEPRECIATION/ AMORTISATION		2.476
	NET PROFIT/ (LOSS)		1.763

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	128.997	160.000	151.442
		Other Income	0.542	5.411	4.254
		TOTAL	129.539	165.411	155.696
Less	EXPENSES
		Cost of Materials Consumed	119.726	124.111	119.246
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(6.872)	2.278	(6.352)
		Employees benefits expense	4.801	5.049	4.133
		Other expenses	10.237	23.477	29.121
		TOTAL	127.892	154.915	146.148
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1.647	10.496	9.548
Less	FINANCIAL EXPENSES		5.906	7.632	6.568
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(4.259)	2.864	2.980
Less/ Add	DEPRECIATION/ AMORTISATION		5.160	6.228	7.781
	PROFIT/ (LOSS) BEFORE TAX		(9.419)	(3.364)	(4.801)
Less	TAX		(0.389)	(0.524)	(0.797)
	PROFIT/ (LOSS) AFTER TAX		(9.030)	(2.840)	(4.004)
	Earnings/ (Loss) Per Share (INR)		(3.76)	(1.18)	(1.67)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.01.2018 (Provisional) (10 Months)	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA	NA
Cash generated from operations	NA	NA	1.719	(18.183)
Net Cash flow from Operating Activities	NA	NA	5.107	(14.405)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.01.2018 (Provisional) (10 Months)	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	49.67	16.20	18.07	38.05
Account Receivables Turnover (Income / Sundry Debtors)	7.35	22.54	20.20	9.59
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	50.34	31.09	14.21	13.04
Inventory Turnover (Operating Income / Inventories)	0.27	0.04	0.35	0.32
Asset Turnover (Operating Income / Net Fixed Assets)	0.32	0.06	0.30	0.24

LEVERAGE RATIOS

PARTICULARS	31.01.2018 (Provisional) (10 Months)	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.89	0.92	0.82	0.82
Debt Equity Ratio (Total Liability / Networth)	7.34	9.42	4.27	4.06
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.23	6.97	2.63	2.62
Fixed Assets to Networth (Net Fixed Assets / Networth)	3.04	4.17	2.15	2.14
Interest Coverage Ratio (PBIT / Financial Charges)	1.97	0.28	1.38	1.45

PROFITABILITY RATIOS

PARTICULARS		31.01.2018 (Provisional) (10 Months)	31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	2.33	(7.00)	(1.78)	(2.64)
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.16	(10.60)	(3.16)	(3.86)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	20.05	(128.45)	(17.68)	(21.18)

SOLVENCY RATIOS

PARTICULARS	31.01.2018 (Provisional) (10 Months)	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.73	1.02	1.17	1.14
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.59	0.24	0.45	0.54
G-Score Ratio Financial (Networth / Total Assets)	0.11	0.08	0.18	0.18
G-Score Ratio Debt (Debts / Equity Capital)	2.69	2.76	2.86	3.20
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.73	1.02	1.17	1.14

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	24.000	24.000	24.000
Reserves & Surplus	(5.099)	(7.939)	(16.970)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	18.901	16.061	7.030
long-term borrowings	35.469	31.657	29.151
Short term borrowings	41.317	36.977	37.042
Total borrowings	76.786	68.634	66.193
Debt/Equity ratio	4.063	4.273	9.416

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	151.442	160.000	128.997
		5.651	(19.377)

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	151.442	160.000	128.997
Profit/ (Loss)	(4.004)	(2.840)	(9.030)
	(2.64%)	(1.78%)	(7.00%)

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	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

------------------------------------------------------------------------------------------------------------------------------

UNSECURED LOANS

PARTICULARS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
LONG-TERM BORROWINGS
Loans and Advances From Related Parties
From Director
Divyesh Pambhar	3.675	4.013
Jayeshbhai K. Vadukiya	7.394	7.285
Jitendra K. Bhadeshiya	5.622	5.514
Thanmal H. Jain	2.862	2.432
Total	19.553	19.244

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2019 Projected	2020 Projected
1. Gross sales
(i) Domestic sales	75.024	90.029
(ii) Export sales	59.590	71.508
Other Income - Misc Income	1.815	2.723
Total	136.429	164.259
2. Less Excise duty	---	---
Deduct other items	---	---
3. Net sales [1-2]	136.429	164.259
4. % age rise (+) or fall (-) in net sales as compared to previous year (annualised)	(17.52)%	20.40%
5. Cost of sales
Raw materials (including stores and other items used in the process of manufacture)	102.579	123.095
(a) Imported	---	---
(b) Indigenous	102.579	123.095
ii) Others Consumables	0.221	0.271
(a) Imported	---	---
(b) Indigenous	0.226	0.271
iii) Power and Fuel	6.325	7.590
iv) Direct labour (Factory wages and salaries)	3.806	4.567
v) Other Manufacturing Expenses	5.542	6.650
vi) Depreciation	2.425	2.231
vii) SUB-TOTAL (i to vii)	120.898	144.405
viii) Add: Opening stocks Raw Material	14.427	8.431
Sub-total (vii + viii)	135.325	152.836
ix) Deduct: Closing stocks Raw Material	8.431	10.117
x) Cost of Production	126.894	142.718
xi) Add : Opening stock of Finished Products	17.901	28.284
Sub-total (x + xi)	144.795	171.002
xii) Deduct: Closing stock of Finished Products	28.284	30.829
xiii) Sub-total (Total Cost of sales)	116.511	140.173
Gross Profit	19.918	24.086
	14.60%	14.66%
6. Selling, general & administrative expenses	9.533	11.916
7. SUB-TOTAL [5+6]	126.044	152.089
8. Operating profit before interest (3-7)	10.385	12.170
9. Interest	4.945	5.204
10. Operating profit after interest (8-9)	5.440	6.966
11. (i) Add: Other non-operating income
a) Interest/ Discount Received	---	---
b) Miscellaneous Income	---	---
c) Sundry Balances Written Off	---	---
d) Previous Year Adjustments	---	---
Sub-Total (Income)	---	---
(ii) Deduct other non-operating expenses
a) Amount written off	---	---
b) Other Miscellaneous Expenses	---	---
c) Foreign Exchange Fluctuations	---	---
Sub-Total (Expenses)	---	---
(iii) Net of other non-operating income/ expenses	---	---
12. Profit before tax/loss {10+11(iii)}	5.440	6.966
13. Provision for taxes	1.681	2.153
Deffered Taxes	---	---
Prior Period Adjustments	---	---
14. Net Profit/ Loss [12-13]	3.759	4.814

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(INR IN MILLION)

PARTICULARS	OPERATING YEARS
	2019 Projected	2020 Projected
CURRENT LIABILITIES
1.Short-term borrowings from banks (including bills purchased discounted & excess borrowing placed on repayment basis)
(i) From applicant bank	37.500	37.500
(ii) From other banks	---	---
(iii) (of which BP & BD)	---	---
Sub total (A)	37.500	37.500
2. Short term borrowings from others	---	---
3. Sundry creditors (Trade)	5.621	8.431
4. Advance payments from customers/ deposits from dealers	---	---
5. Provision for taxation	1.681	2.153
6. Dividend payable	---	---
7. Other statutory liabilities (due within one year)	---	---
8. Deposits/ Instalments of term loans/DPGs/Debentures, etc. (due within one year)	1.538	1.538
9. Other current liabilities and Provisions (due within one year) (Specify major items)	1.858	1.895
a. TDS Payable	---	---
b. Creditors for Expenses	---	---
c. Others Provisions	---	---
Other Current Liabilities [Sub-Total (B)]	10.698	14.017
10. Total Current Liabilities (total of 1 to 9 excl 1 (iii))	48.198	51.517
TERM LIABILITIES
11.Debentures (Not maturing within 1 years)	---	---
12.Prefrence shares (Redeemable after 1 year)	---	---
13.Term loans (Excluding Installments Payable within 1 Year)	4.287	2.303
14. Deferred Payment Credits Excluding Installments Due within 1 Year)	---	---
15.Unsecured Loans (repayable after 1 year)	23.300	23.300
16.Other	---	---
17. TOTAL TERM LIABILITIES	27.587	25.603
17(a) Inter Unit Balance	---	---
18. TOTAL OUTSIDE LIABILITIES (Item 10 +17)	75.784	77.120
NET WORTH
19. Share Capital	24.000	24.000
20. Reserve and Surplus	(15.207)	(14.448)
	---	---
22. Share Premium	---	---
23.Surplus(+) or deficit(-) in Profit & Loss account	3.759	4.814
23.a. Capital Subsidy Reserve	---	---
23.b. Inter Unit $	---	---
23.b. Defererd Tax Liability/ Deffered Tax Assets	---	---
24. NET WORTH	12.552	17.366
25. TOTAL LIABILITIES	88.336	94.485
CURRENT ASSETS
26.Cash and bank balances	1.982	2.794
27.Investments (other than Long Term Investments)	---	---
(i) Fixed deposits [LC,B.G. Margin]	---	---
(ii) Other Fixed Deposits with Bank	---	---
28.(i) Receivables other than deferred and export (Including Bills Purchased and Discounted by Banks)	8.222	9.866
(ii)Export receivables (Including Bills Purchased and Discounted by Banks)	6.127	11.386
29.Instalments of deferred receivables (Due within 1 Year)	---	---
30.Inventory:	36.715	40.946
(i) Raw materials (including stores and other items used in the process of manufacture)
a) Imported	---	---
b) Indigenous	8.431	10.117
(ii) Stock in Process	---	---
(iii) Finished goods	28.284	30.829
(iv) Other consumable Spares	---	---
a) Imported	---	---
b) Indigenous	---	---
31.Advances to suppliers of Ram materials	2.115	2.305
32.Advance payment of taxes	3.688	3.872
33.Other current assets	5.817	2.822
- Deposits	5.347	2.305
- Others	0.210	0.231
- Others [Loans and Advances]	0.260	0.286
34. TOTAL CURRENT ASSETS (Total of 26 to 33)	64.664	73.991
FIXED ASSETS
35.Gross Block (Land and Building, Machinery, Work-in-Progress)	34.460	34.460
36.Depreciation to date	13.009	15.989
37. NET BLOCK (35-36)	21.451	18.471
OTHER NON-CURRENT ASSETS
38.Investments/book debts/ Advances/ Deposits which are not Current Assets	2.221	2.021
(i) a) Investments in subsidiary companies/ affiliates	---	---
b) Others	2.221	2.021
(ii) Advances to suppliers of capital goods and Contractors	---	---
(iii) Inter unit A/c.	---	---
(iv) Others-Debtors> 6 months	---	---
- Security deposit	---	---
- Any other Non-Current deposits	---	---
39. Non-consumables stores and spares	---	---
40.Other non-current assets including dues from directors	---	---
41. TOTAL OTHER NON-CURR.ASSETS (38 to 40)	2.221	2.021
42. Intangible assets (patents, goodwill, prelim. Expenses, Bad/ doubtful debts not provided for, etc)	---	---
43. TOTAL ASSETS (Total of 34+37+41+ 42)	88.336	94.485
44. TANGIBLE NET WORTH (24-42)	12.554	17.366
45. NET WORKING CAPITAL (17+24)-(37+41+42)	16.467	22.475
46. Current Ratio	1.34	1.44
47. Total Outside Liability/ Tangible Net Worth	6.04	4.44
48. Total Term Liabilities/ Tangible Net Worth (DE Ratio)	2.20	1.47

-----------------------------------------------------------------------------------------------------------------------------

FUND FLOW STATEMENT

(INR IN MILLION)

PARTICULARS	OPERATING YEARS (PROJECTED)
	2019 Projected	2020 Projected
1 Sources
a) Net Profit (after tax)	3.760	4.812
b) Depreciation	2.425	2.231
c) Increase in Capital	0.000	0.000
d) Increase in Term Liabilities, Including Public Deposits	0.000	0.000
e) Decrease in
i ) Fixed Assets	6.222	0.000
ii) Other Non-Current Assets	2.049	0.200
f) Others	0.000	0.000
g) TOTAL	14.456	7.243
2 Uses
a) Net Loss	---	---
b) Decrease in Term Liabilities, Including Public Deposits	4.070	1.984
c) Increase in
i ) Fixed Assets	0.000	0.000
ii) Depreciation adjustment	(10.584)	(0.749)
iii) Other Non-Current Assets	0.000	0.000
d) Dividend Payments	---	---
e) Others	5.457	0.000
f) Total	(1.057)	1.235
3 Long Term Surplus / Deficit	15.513	6.008
4 Increase / Decrease in Current Assets*	15.276	9.327
5 Increase/ Decrease in Current Liabilities other than Bank borrowings	5.464	3.319
6 Increase / Decrease in Working Capital Gap	9.813	6.008
7. Net Surplus (+) / Deficit (-)	5.700	0.000
8 Increase / Decrease in Bank Borrowings	---	---
INCREASE/DECREASE IN NET SALES	(28.982)	27.830
*Break-Up of item-4	5.700	0.000
i) Increase / Decrease in Raw Materials	---	---
ii) Increase / Decrease in Stocks in Process	(1.095)	1.686
iii) Increase / Decrease in Finished Goods	7.619	2.546
iv) Increase / Decrease in Receivables
(a) Domestic	1.487	1.644
(b) Exports	4.940	5.259
v) Increase / Decrease in Stores and Spares	---	---
vi) Increase / Decrease in Other Current Assets	2.326	(1.808)
Total	15.276	9.327

------------------------------------------------------------------------------------------------------------------------------

COMPARATIVE STATEMENT OF CURRENT ASSETS

AND CURRENT LIABILITIES

(INR IN MILLION)

SR. NO.	PARTICULARS	OPERATING YEARS (PROJECTED)
		2019 Projected	2020 Projected
A	CURRENT ASSETS
1	Raw materials (including store and other items used in the process of manufacture)
	(a) Imported : Amount	---	---
	Month’s Consumption	---	---
	(b) Indigenous: Amount	8.431	10.117
	Month’s Consumption	(0.80)	(0.85)
2	Other consumables Spares, Excluding those included in 1 above
	(a) Imported: Amount	---	---
	Month’s Consumption	---	---
	(b) Indigenous: Amount	---	---
	Month’s Consumption	---	---
3	Stocks in progress: Amount	---	---
	Month's cost of production	---	---
4	Finished Goods : Amount	28.284	30.829
	Month's Cost of Sales	(2.91)	(2.64)
5	Receivables other than Exports and Deferred Receivables (Including Bills Purchased and Discounted by Bankers)	---	---
	Amount:	8.222	9.866
	Month's domestic sales (including deferred payment sales)	(0.72)	(0.72)
6	Export Receivables (Including Bills Purchased and Discounted)
	Amount	6.127	11.386
	Month's Export Sales	(1.23)	(1.91)
7	Advances to suppliers of material and stores/ Spares, consumables	2.115	2.305
		(0.25)	(0.22)
8	Other Current Assets including Cash and Bank Balance and Deferred Receivables due within One Year (specify major items)	11.486	9.488
	Cash and Bank Balances	1.982	2.794
	Investments except long-term investment of def. receivables	---	---
	Others	9.505	6.694
9	TOTAL CURRENT ASSETS	64.664	73.991
B	CURRENT LIABILITIES (Other than bank borrowing for working capital)
10	Creditors for Purchases of raw material, stores and consumables spares: Amount	5.621	8.431
	Month’s Purchases	(0.66)	(0.82)
11	Advances from customers	---	---
12	Statutory Liabilities	---	---
13	Other Current Liabilities – specify major items
	S T borrowings- Others	---	---
	Dividend Payable	---	---
	Instalments of term loans, DPS and Public deposits	1.538	1.538
	Other current liabilities & provisions	1.858	1.895
14	TOTAL	10.698	14.017

-----------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(INR IN MILLION)

SR. NO.	PARTICULARS	OPERATING YEARS (PROJECTED)
		2019 Projected	2020 Projected
1	Total Current Assets	64.664	73.991
2	Other Current Liabilities (other than bank borrowings	10.698	14.017
3	Working Capital Gap	53.967	59.975
4	Net Working Capital	16.467	22.475
5	Assessed Bank Finance	37.500	37.500
6	NWC to Total Current Assets %	25.46	30.37
7	Bank Finance to TCA %	57.99	50.68
8	Sundry Creditors to TCA %	8.69	11.39
9	Other Current Liability to Total Current Assets %	7.85	7.55
10	Inventory to Net Sales (Days)	98.23	90.99
11	Receivables to Gross Sales (Days)	22.00	21.92
12	Sundry Creditors to Purchases (Days)	(20.04)	24.95

------------------------------------------------------------------------------------------------------------------------------

FINANCIAL INDICATORS

(INR IN MILLION)

PARTICULARS	OPERATING YEARS (PROJECTED)
	2019 Projected	2020 Projected
Net Sales	136.429	164.259
Operating Profit	10.385	12.170
Profit Before Tax	5.440	6.966
PBT/ Net Sales (%)	3.99	4.24
Profit After Tax	3.759	4.814
Paid up Capital	24.000	24.000
Cash Accruals	6.184	7.045
Tangible Net Worth	12.554	17.366
Total Outside Liability	75.784	77.120
TOL/TNW	6.04	4.44
Adjusted TNW	35.854	40.666
TOL/ Adj TNW	2.11	1.90
Total Current Assets	64.664	73.991
Total Tangible Assets	88.336	94.485
PBT/ TTA (%)	6.16%	7.37%
Operating Expenses	126.044	152.089
Operating Expenses/ Net Sales (%)	92.39%	92.59%
Cost of Sales/ Net Sales (%)	0.85	0.85
Depreciation	2.425	2.231
Interest	4.945	5.204
Net Working Capital	16.467	22.475
Inventory + Receivables	51.063	62.198
Assessed Bank Finance	37.500	37.500
PBDIT	12.810	14.401
PBDIT/ Intt.	2.59	2.77
PBDIT/ TTA	14.50	15.24
Purchases	102.800	123.366
Sundry Creditors	5.621	8.431
TOL/ TNW	6.04	4.44
CA/ CL	1.34	1.44
Bank Finance/ TCA (%)	57.99	50.68
Gross Sales/ Total Current Assets	2.11	2.22
Operating Profit/ Net Sales (%)	7.61	7.41
Operating Profit/ TTA (%)	11.76	12.88
Operating Profit/ TNW (%)	82.72	70.08
Operating Profit/ Gross Fixed Assets (%)	30.14	35.32

EFFICIENCY RATIOS

(INR IN MILLION)

PARTICULARS	OPERATING YEARS (PROJECTED)
	2019 Projected	2020 Projected
Net Sales to TTA (times)	1.54	1.74
PBT to TTA (%)	6.16	7.37
Operating Costs to sales (%)	92.39	92.59
Bank Finance to TCA (%)	57.99	50.68
Inventory + Receivables to net sales (days)	135	136
Assessed Bank Finance	37.500	37.500
CA/ CL	1.34	1.44
TOL/ TNW	6.04	4.44
PBDIT/ Intt.	2.59	2.77
Net Profit/ Net Sales (%)	2.76	2.93
(PBDIT/TTA) ROCE	14.50	15.24
(Inv. + Rece.)/ Net Sales (days)	135	136
Current ratio excluding term loan instalments	1.39	1.48
Debt/ EBDIT%	1.23	0.97

------------------------------------------------------------------------------------------------------------------------------

NETWORTH STATEMENT

(INR IN MILLION)

Sr. No.	Name of Directors/ Guarantors	PAN No.	Birth Date	Address	Net Worth
1	Divyeshbhai K. Pambhar	AIYPP6342C	21.05.1979	“VRAJ VATIKA”, B/d Swaminarayan Mandir, Kalawad Road, Rajkot-360002	22.621
2	Jayeshbhai K. Vadukiya	AEMPV7320L	30.05.1975	127 Gokuldham Society, Krushnanagar Main Road, Rajkot-360004	3.617
3	Jitendrabhai K Bhadesiya	AHPPB0723P	30.06.1974	“Devkrupa” Block No 14, 6 Haridwar Society, Near Gokuldham, Rajkot-360004	9.320
4	Thanmalbhai H. Jain	ACDPJ2247B	04.05.1963	1501, Pankaj Hight, B Wing, Doctor Deshmukh Lane, Near Sikhanagar, Mumbai, Maharashtra-400004	22.952
5	Jayeshbhai T. Jain [GUARANTOR]	ALEPJ4737E	22.11.1990	1501, Pankaj Hight, B Wing, Doctor Deshmukh Lane, Near Sikhanagar, Mumbai, Maharashtra-400004	8.956
TOTAL NET WORTH					67.466

-----------------------------------------------------------------------------------------------------------------------------

COMPANY PROFILE

Rolex Reclaim Private Limited, is a leading Reclaim Rubber Supplier having a distribution house for the Rubber Industry in India.

The Brand

Rolex Group was found in 1995 by Rolex Fittings Private Limited and started an endless journey its great efforts and a dynamic team. Within a couple of months Rolex Forge and Rolex Export became strong roots of Rolex Fittings Private Limited. Rolex Fittings Private Limited is a well known in market for stainless steel products and Rolex Forge is for industrial components whereas Rolex Export is globally reputed supplier of agro commodities. And -ow, Rolex Reclaim Pvt. Ltd. is producing best quality reclaimed rubber and supplying in global and domestic market with a steady growth and a strong vision and again become a strong root. Rolex Reclaim Private Limited, a leading Reclaim Rubber manufacturer, having a distribution house for the rubber industry in India & having Government of India recognized "Export house”. They supply a wide and varied range of raw materials, which includes Natural Reclaimed Rubber, Butyl Reclaimed Rubber, Tyre Reclaimed Rubber etc... Rolex Reclaim Private Limited certifies that Reclaimed Rubber produce by them is fully adapted with ISO regulations. Rolex have pre recorded substances present of REACH compliance and recorded substances present in their products. Below are the certificates which Rolex Reclaim are have i.e. ISO 9001:2008, OHSAS 18001:2007, ISO 14001:2004, ISO/TS 16949:2009. Their Butyl Reclaim Rubber is free of Polycyclic Aromatic Hydrocarbons (PAH) and N-Nitrosamines.

Rolex Reclaim Private Limited, the reliable and prestigious name in the field of reclaimed rubber manufacturing which is situated in Rajkot, Gujarat, INDIA - the industrial hub of India, manufactures Butyl Reclaim Rubber and Natural Reclaim Rubber from the scrap of Natural Rubber Tubes, Butyl Rubber Tubes and Tyre Reclaim Rubber from whole tyre scrap accordingly. With entire manufacturing process under one roof, they specialize in making our product as per our customers' requirements. Rolex with young, enthusiastic and experienced team, experience technocrats is reckoned for its innovative rubber products, constant supply & dedication to the quality.

Rolex Reclaim Private Limited always meets the specific requirement set forth by the buyers including quality reporting, process control request data reporting etc... Also having latest technology and latest equipment to develop a range of Reclaimed Rubber that provide solutions to the material handling needs for all industries and working environments.

-----------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Date as on which valuation is made	11.10.2016
Name of the Owner/ Owners	MR. JITENDRA KANTILAL BHADESIYA
Location, street, ward no.	House No. 14, Hardiwar Society, Street No. 06, Opposite Sagar Hall, 80 Feet Road/ Gondal Road, Rajkot

Fair Market Value	INR 6.953 Million
Realizable/ Forced Sale Value	INR 6.255 Million
Distress Sale Value	INR 5.560 Million

-----------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Date as on which valuation is made	12.10.2016
Name of the Owner/ Owners	ROLEX RECLAIM PRIVATE LIMITED (DIR. SHREE DIVYESHBHAI KARAMSHIBHAI PAMBHAR)
Location, street, ward no.	Rev. Sr. No. 80/P4, Plot No. 1, ‘’Rolex Reclaim Private Limited”, Rajkot- Gondal Highway, Near Toll Naka, Village-Pipaliaya, Tal. Gondal, Dist. Rajkot

Fair Market Value of Property	INR 29.908 Million
Realizable Value @90% of INR 29.908 Million	INR 26.917 Million
Distress Sale Value @ 80% of INR 29.908 Million	INR 23.926 Million
Insurance Value	INR 7.269 Million

-----------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Date as on which valuation is made	12.10.2016
Name of the Owner/ Owners	MR. JAYESHBHAI THANMALBHAI JAIN
Location, street, ward no.	Rev. Sr. No. 262, 257/2 & 264, Unit No. R/6, Madhusudan Compound, Mankoli Naka, Alimgar Road, Mankoli, Bhiwandi, Dist- Thane

Fair Market Value of Property	INR 4.050 Million
Realizable Value @90% of INR 4.050 Million	INR 3.645 Million
Distress Sale Value @ 80% of INR 4.050 Million	INR 3.240 Million

-----------------------------------------------------------------------------------------------------------------------------

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	C36578516	10379266	Dena Bank	11/09/2012	12/12/2014	-	55058000.0	Junction Plot BranchRajkotGJ360001IN

FIXED ASSETS:

Tangible Assets

· Factory Land

· Buildings

· Computer and Data

· Processing Units

· Furniture and Fixtures

· Plant and Machinery

-----------------------------------------------------------------------------------------------------------------------------

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 64.91
UK Pound	1	INR 91.87
Euro	1	INR 80.26

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	PRY
Report Prepared by :	IND

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.